Scope of Independent Surveyors

[Prajith kumar.I.P]

Dear Sirs,

I am sharing my views for a debate on this group, for some clarity and for better analysis of the facts.  At present the Employee Surveyors of Private & Public sector Insurers are doing the majority of Survey works, at least in Motor segment; they are growing with the growth of Market, while the Independent Surveyors are slowly vanishing from the Industry. The concept that Survey should be carried out by "Independently practicing Surveyors" is nowhere in the law of land, as of now. Till recently we have only Employee Surveyors of Insurers, now with the introduction of "Insurance Marketing Firm" with Employee surveyors; IRDAI is also promoting the Employee surveyor concept to further level.

In Motor portfolio, the market share of Private sector is above 50%, and almost 99% of the Surveys are carried out by their employees. With the increase in FDI to 49%, the private sector is going to dominate the market with their employee surveyors. More over IRDAI has also decided to increase the No survey limit to ₹50000/-for Motor and 1Lakh for non Motor, which will be reviewed every 3 years. In this present Scenario, I couldn't find much scope for independently practicing Surveyors in future, only some highly qualified professionals will be required to assess the high value claims.

Members views please.

Thanks & Regards,

Prajith kumar.I.P.

Kozhikode, Kerala.

Cell: 9447051226,

E-mail: ippr...@gmail.com

[raghavan kodoth]

Dear Prajith,

                  Agree with your analysis of the scenario.

Future situation as I can foresee is as follows.

PSU Companies continue to be the job providers for independent Surveyors at present mainly due to their reluctance to accept accountability for the assessment. That is why they continue to depute Surveyors for very small claims, even if the claim amount is below 5000/-, main reasons being the Audit and Vigilance Depts. in Public Sector. Insurance marketing and underwriting are also dealt with in unprofessional and negligent manner, without following modern principles of risk valuation. 

In contrast, the Private GI Companies have internal audit, but there is more autonomy in managing the premium revenue and claims disbursements. Underwriting is much more professional and they rarely attempt to grab high risk portfolios. Claims handling is also much more professional, concerned personnel are selected with due care. 

In due course of time, say within 4 - 5 years, the PSU Insurers also will be forced to change their ways just like many of the Public Sector banks have changed. More and more qualified youngsters are being recruited as Officers and their working style will be more focussed. Claims Manager and Asst. Managers could be appointed at Divisional level to be able to handle most of the claims falling below mandatory limits set out in the Regulations. However, this transitory  period may last for even beyond 5 yrs. Hence, the changes in PSUs may be gradual and will not be felt by the Surveyors all of a sudden. Besides, the industry is growing and more number of high value claims will be reported, which will offset the reduction in survey of small claims. 

New entrants to independent survey profession will be naturally more professional and competent too, as compared to the present generation of Surveyors and they should be able to cope up with the competition in the field. Many may opt to be employee Surveyors to ensure a regular job and steady income.

So, there is nothing to worry about for Surveyors who are 50+. Their professional life will definitely last for another 10 yrs. Those who are below that age group should be concerned and make sincere efforts to upgrade their level of knowledge and competence to match with the future scenario. Because things may not work by 'hook or crook'. Every one should upgrade their computer skills and on-line methods to be able to convert to a fully soft reporting. Those who can't open and handle emails should learn to do so by attending classes conducted by computer institutes. This skill is lacking in most of the Surveyors I know.

Much more can be written, but it won't serve any purpose to those who are only trying to retain their positions only by organisational/electoral tactics and clinging to one group or the other.

K.P.Raghavan

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[Ashraff Tim]

Dear Mr. Raghavan/Prajith,

I do agree with your analytical views, and feel that the seniors need
not to worry much about loosing jobs in the near future, with the
present system of working in GIPSA companies, unless the Regulator
bring in more tougher rules.

Tim

On 8/12/15, 'raghavan kodoth' via Insurance Surveyors India

> concept to further level.In Motor portfolio, the market share of Private

[Hariom Gupta]

Dear Sir,

              This is the facts which every active surveyor very well known, few of us are prepare themselves to face the coming situations/ analysis the changes in the industry & requirement of the profession in future but most of us are still not aware and felt better to live in past scenario

With Warm Regards

Hari Om Gupta

SLA, Bareilly (U.P)

Mob. 9837029875

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