Insurance

July 26, 2002

• When Insurance was created as a practical concept 200 years before, the MIND of the world took a big step to bring into the purview of MAN two things 1). Effective practical security to the individual from the collective, 2). To remove the insecurity of the future from the known security of the past.
• In my view, insurance is as important an organisation as money, while money is more material and insurance is more psychological, for which reason insurance has a vaster scope than money in the future.
• The world has not discovered more than a small part of insurance yet.
• In India, I see a small part of US insurance practices are followed as a token. The outside world does not know it.
• If India FULLY implements the possibilities of insurance to the extent her illiteracy and backwardness will permit, her per capita GNP of $380 will rise to $800. If a company explores ALL possibilities of introducing insurance, it will be profitable.
• When the world is exploding with great success or one man has become world famous, after all, he has landed on ONE new thought or an extension of thought in ONE field of ONE sector. Tom Peter, Mahesh Yogi, and Bill Gates can thus be explained. Peters SPOKE, has never undertaken assignments. He dwelt on the idea of freedom, not organisation or results. Mahesh Yogi does Hatha Yoga which was outgrown in India 2000 years ago. He has chosen to address ONE need in the West -- Peace of Nerves -- and has done well.
• Biscuits baked and packed in World War II fifty years ago were given to the refugees in Somalia in conditions of edible taste. The possibilities are that great. They say Napoleon's Empire owes its victory to the tinned food he discovered.
• Suppose one who is enamoured of mental adventure comes to India - he need not come, but can study from home - and explores all the possibilities of insurance and calculates on the basis of certain assumptions of direct benefit - the indirect benefits are vaster - what India's GNP will be five or ten years later, it does open fresh possibilities for him.
• Insurance against going to hell was sold in England once!
• In India if a consultant can persuade any company to use all possible avenues of insurance, it will rise. All that he has to do is to go back for five or ten years in the company life and show that had they insured 10 years before in several areas what would have been the result. The difficulty is the consultant cannot persuade himself to believe this. It is equally true in USA today.
• On the Internet, one can explain these possibilities.
• Crop insurance is there in India in pockets as a token. Suppose in a village crop insurance is undertaken, agriculture would be upgraded. As a result, the self-confidence of the whole village would be raised. Self-confidence is Prosperity. Once self-confidence rises, the villager will accept great social opportunities and life will prosper. If there were periods in a country where insurance was first introduced and extended further in one dimension, life would have prospered. This would be known if there is a method to spot it down. Indian life has thus prospered in education and several other sectors. They go unnoticed.
• The moment one's life is insured, his outlook on the future is as different as day from night.
• Insurance is the benefit the individual gets from the goodwill of the collective. The key here is the small token premium he pays. He will be unwilling to pay. Should he appreciate the wider benefits and be willing to pay that premium, he will vastly benefit by the idea. To materially benefit by an idea or a scheme, ONE should be materially expansive.
• There is a lot of money in Japan which is not invested. These are lot of SAFE investments all over the world. An insurance company that studies that scope and offers to insure investments will be opening a fresh possibility there. Income from any new idea that taps the infinite out of the finite by one who is inwardly expansive will exceed the turnover of those who have excelled presently in the same field.
• In India new talents of high grade are appearing and go unrewarded or unnoticed. One idea of mine is an insurance company that identifies those talents and offers to insure their period of unemployment after graduation. This is a wide field. It has further national advantages.
  1. It fosters talents.
  2. The boy will be chosen for employment just because he is insured!
  3. It encourages other children to acquire talents.
• In India, all these things are happening in a token way which gives a real boom in urban areas. The traditional statistics do not reflect these developments. Indira Gandhi was the only one who could have a hint of this development.
• The field of investment has been exhausted over and over again in USA by study, research, etc. It is impossible to improve upon it. A fresh look will show there is a great scope, greater than seen so far.
• The vast benefits for the concept of insurance for the entrepreneur arise from the area of risk. He who insures insures because of the RISK to eliminate the RISK. The secret is because he insures, he partly eliminates that risk, as the fact that he is insured brings a vaster segment of life in the shape of customers to him and pulls him at once from being an object of insurance. The Company that sees this commercial truth increases its profits in the measure it goes to the society to convert areas of risk into their opposite.
• Eighty-five percent of the newly started companies disappear. We know why they do so. A scheme to insure those companies will ask for certain minimum guarantees and reduce their premiums with the increasing guarantees. He who knows how companies cannot go out of business will do good business. I am sure it is clear. The further national advantages are.

- Fewer companies will go out of business after insurance as the insurance becomes a watchdog.

- Business will prosper. Economy will face no recession.

- As this step goes to integrate business and insurance a little more, the country will look up.

- For the one who does, it is not just more business but a new business.

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