“This nation was built by men who took risks - pioneers who were not afraid of the wilderness, businessmen who were not afraid of failure, thinkers who were not afraid of progress, dreamers who were not afraid of action.” Leaders have the inherent risk taking abilities… to take risk makes you a King but to cover the risk of kings makes you The King of Kings …. The ultimate test of your ability…Remember… “It is not because things are difficult that we do not dare, it is because we do not dare that they are difficult” ... ready to dare…??? GIC Re gives you a chance to go in to the world of reinsurance …to find what drives this and come up with a strategy to retain the throne…. EMERGING RISKS In current volatile world, there are various new kinds of emerging risk. The few can be highlighted as follows: Climate Change Global Life & Health Scenario Regulatory Risks Natural Catastrophes Liability Risks in Emerging markets Global Political instability & Terrorism Risks
Although GIC Re has enjoyed the market leadership for last 4 decades, it may face stiff competition in near future with government opening up with regulations and increasing FDI limits. You need to analyse wholly the Reinsurance industry and come up with a strategy for GIC Re to remain market leader even after the opening up Indian market for foreign players.
Solution should cover the following pointers: 1. Industry Analysis and Overview 2. Implications of entrance of private foreign players in the domestic market to GIC Re 3. Study the USP of various foreign players in the Indian and foreign market and suggest a USP to GIC Re to maintain its competitive edge in the global market. 4. What strategies should be adapted by GIC Re to face the challenge because of the entry of these new players in the market (Eg. any new expansion strategy in the areas where it is not present, any new marketing initiatives, collaboration with...
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