Chartered Accountants (CAs), as professionals, want a wider horizon as their business canvas, for their professional work and opportunities. With differentiation and specialization of expertise, dominating the world of services, the basic skills and accounting knowledge alone are insufficient for CAs to make a mark. Customer segmentation, value creation, communication skills encompassing comprehension and understanding of customer needs, matter a lot to get them world-class professional recognition.

As professionals, Chartered Accountants (CAs) are keen to expand their professional roles in the insurance sector. Till now, their major activities have been restricted to auditing and a few other ancillary services like acting as licensed surveyors. The insurance sector has been rapidly growing in premium volumes (Rs. 28,000 cr) and has allowed a larger number of new professional entrants, over 40 insurers, into it. The younger generation of CAs is more ambitious, and is keen to scout for newer targets of business opportunities, beyond accounting and certification functions. They are brought up on mental stimuli of Gen-X of questioning: `why not' of everything!

Before looking out for any potential business opportunities, CAs must know what the insurance sector's overall contribution to the society and the nation has been in the past, and what it should be in the future. How does insurance selling or buying helps in ensuring quality and stability of our daily individual and corporate lives? What characterizes the Indian market, as different from other national markets? How has the Indian market been performing and fulfilling its expected roles? The significance of insurance business and its national role and social functions to be inspiring enough for its practitioners like the CAs are numerous.

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