Process took place at Pai Viceroy hotel
WAT: Nuclear war cannot be won and should not be fought
Decent WAT and GD. Pitched in multiple times with facts and World history.
PI: 2 panelists, F1 and M1
M1: You did Mechanical Engineering, How did you land up in an Insurance job?
Me: I was frank and told him that first I got into Accenture (Mass recruiter) and then when I got an offer from AIG, I gauged the market and assessed the potential of this field.
M1 kept quiet for about 2 secs.
Me: Started again with the government initiatives in this sector. New companies coming in this sector and how the FDI limit has been increased from 26 to 49%. Told few points about GIC Re as well.
M1: Asked something related to my profile.
F1: Okay, so you remember something from Engineering or shall we not ask that?
Me: Mam, It’s been long (3+ yrs) but I’ll try my best to answer questions.
F1: Laws of thermodynamics?
Me: Told. Explained First Law (interrupted in between)
F1: any equation you remember?
Me: Continuity Equation, Bernoulli’s Equation
F1: Write on this (sheet)
Me: Started writing, Completed Continuity (got interrupted)
F1: So, how can you relate this equation to Insurance field?
Me: (dumbfaced) Mam, This won’t be directly applicable but we have Surplus ratio equation as Surplus Ratio= Net written Premium/ Capital. Told about this and explained this.
F1: Okay, so you know about driverless cars?
Me: Yes mam, and told about recent approval to test those in Delhi
F1: So, how will that impact insurance industry?
Me: Mam, that comes under General Insurance ( F1 cuts in between)
F1: But how will third party insurance will happen in that case?
Me: Told that too many litigations will be seen in this light and as in the case of driverless cars, we can’t put the blame on any particular individual, so it would be very hard to assess that and ultimately manufacturer company has to feel the brunt of the claims.
M1: So, if any country launches a satellite and after few years the debris would land up in some other country, how will this be tackled?
Me: Blabbered something more about ownership and claims
M1: So Why MBA?
M1: Why you are insisting on Reinsurance brokerage? (Mentioned it in the answer)
Me: Sir, I work in the Reinsurance brokerage sector. Explained how it is different from Insurance and Reinsurance.
M1: So, it is more of Actuarial Science?
Me: No Sir, Explained the difference between Actuarial science and my profile.
F1: Okay, CAT Percentile? What other calls?
Me: Mam 96.22, New IIMs, IIT D, XLRI HRM which I’ll be skipping.
M1, F1: Okay, Thanks
Me: Thanks mam, Thanks sir.
Overall, I was able to answer the questions but they did not look so interested (may be because I was 8th in the panel).
Met @glory0507 there (same panel). Convert hona mushkil h but it was a good experience