Gujarat Global News Network, Ahmedabad
“There is a need to promote the concept of insurance among the cooperatives and their members. The cooperative sector in India which has 550,000 cooperatives and 23 crore members, was an untapped market for affordable and effective insurance products”, said Ghanshyambhai H. Amin, Chairman, Gujarat State Cooperative Federation.
He was delivering a key note address on state level micro insurance workshop organised by VimoSEWA Cooperative with support from the National Cooperative Union of India (NCUI). The aim of the worshop was to promote the concept of micro insurance among the cooperatives of Gujarat. The workshop also aimed at providing useful insights into current trends and opportunities in the sector.
Ms Mirai Chatterjee, Chairperson, National Insurance VimoSEWA Cooperative and Member, National Advisory Council, highlighted the commonality between the core cooperative principles and the insurance concept. She said that in order to ensure that the benefits of growth reach the bottom of the pyramid, huge effort needs to be put in by voluntary organisations and cooperatives in areas like education, healthcare and other social security mechanisms like micro insurance.
More than 40 participants from 33 cooperatives across Gujarat attended the Workshop. These include producers’ cooperatives like milk and other industrial cooperatives, savings and credit cooperatives and agriculture cooperatives.
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