Technology changes creating new avenues in risk management
Feb 5, 2021
Sunrise sector adapting to new risks

Pandemic has opened the way for technology and fresh innovations. In the process, it has also prompted healthy investment Leading corporate leaders came together on the Masterclass session organised by ICICI Lombard General Insurance and CNBC-TV18, to share their insights into how the pandemic has changed the way companies now work. HIGH PROFILE LINE UP The attendees included Mr. CP Gurnani, MD & CEO, Tech Mahindra, Ms. Jyotsna Sharma, CFO and Head – IT Bridgestone India, Mr. Sandeep Goradia, Head Corporate Solutions, ICICI Lombard GIC, Ms. Prabha Thomas, Chief Risk and Compliance Offer, TCS and Mr. Mitanshu Shah, Senior Vice President, Alembic Pharmaceuticals. According to Mr. Gurnani, risk management teams at Tech Mahindra had rallied together to create ``an ecosystem where most clients and stakeholders believe they are in harmony with each other.” FROM RISK TRANSFER TO RISK PARTNER ICICI Lombard’s Mr. Goradia believes the pandemic has changed the company from a risk transfer mechanism to a risk partner. Thanks to technology like drone-based risk mitigation solutions, the number of claims has come down, he said. Ms. Thomas from TCS said the big challenge was the shift to work from home, underlining cyber security issues. ``We are operating from 4.5 lakh home offices so leaders need to trust their employees,” she pointed out. PHARMA INVESTMENT SHOOTS UP Alembic’s Mr. Mitanshu Shah said, that thanks to Covid-19, pharma companies are developing drugs to avoid future pandemics, prompting big investment into discovery of new drugs. Bridgestone India’s Ms. Jyotsna Sharma was convinced that Industry 4.0 is the future where the right labour law framework would become imperative. The session was moderated by CNBC-TV18’s Mridu Bhandari.

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