Education

The Indian workforce which has driven the country to the top of numerous global competitive indices is not only drawing potential employers to India but also the education system behind this workforce that is essentially driving a productive and fertile education market. It seems to be an upswing for the education industry in India as the concept of business through education readily catches up with the Indian market.

India’s youth, often cited as its ‘demographic dividend,’ is known to constitute over 50 per cent of its total population, with 367 universities and 18,000 colleges with half-a-million teachers and about 11 million students on the rolls, India surely could reap huge returns off its demographic dividend.

Higher education providers, colleges and universities find themselves competing with an assortment of demanding and unfavourable situations; mounting operational costs, matters related to safety and security of the premises, personal injury to students, employment practices liability, professional Indemnity risks and other risks widespread to institutions which can critically influence their reputation, success, and competitiveness if they are not handled prudently.

Also, even as government's spending on education has increased ten times in the 11th Plan, the expenditure on education remains far behind the target. An engineering course was priced was Rs 1 lakh in 1990. It rose to Rs 3.2 lakh in 2000. In 2020, even at a low compounded annual rate of 10 per cent, the cost could be as high as Rs 21.5 lakh. The profile of students is also varying from foreign to Indian nationals as the IPR and PI of an educational institution stands at high significance.

ENAM’s strategy focuses on helping educational institutions develop incorporated and sustainable risk alertness and responsiveness into their functioning. ENAM’s customized approach assesses the calculated, operational, and hazard exposures facing the education sector and provides for a broad range of suitable policies.

ENAM Risk Management Strategy

Assistance in determination of the objectives of the client company
Advice on specific and detailed risk identification, analysis and assessment
Selection of the risk treatment devices or appropriate covers from the market
Arranging for risk transfer with optimization of covers at best possible quotes
Prompt claims facilitation, cooperation and provision of technical expertise.

To know more, please feel free to write to insure@enam.com

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