Vikram Kalbag, Mimansa Consulting, India

Vikram Kalbag has worked in the risk-consulting arena for more than 25 years. His firm, Mimansa Consulting, provides risk-consulting services for clients inside and outside India. International-league services, that is, thanks to the Riskonet network. “We use the network efficiently to provide seamless and high-quality services to our clients.”

Like every market, risk-management in India’s has its challenges, concedes Vikram. “The biggest issue in India today is that there is no incentivisation for risk management. It therefore takes us time to explain to clients what the concept of risk management is. And why they should be investing in it, despite getting little benefit in the form of a reduction of premiums.”

Vikram’s advice to his clients is to focus their risk-management investments on business continuity. “There are many losses which insurance companies in India will not cover, such as the  loss of a client, for example, or loss of reputation. These are things that insurers simply will not cover, so companies should focus more on business continuity.”