Yesterday we had a session with Dr. K.C.Mishra - the director of my B-School – National Insurance Academy School of Management. I definitely have a lot to say about the man, but in this post, I would restrict myself to a couple of very significant things that came out in the course of his talk.
He was telling us about some session that he conducted for some students where he apparently was asked the following query:
“What would be a lifetime definition of the relation between the Economy, Financial Sector and Insurance?”
His Answer was along the following lines: Imagine an Elephant precariously balancing itself on a globe. It is on its four legs and is trying hard to remain stable. The Globe may be fully filled with air or partially filled with air.
Think of the elephant to be the economy, the globe – financial sector, and the air inside the globe to be insurance.
If the globe is fully filled with air, the elephant would have a sturdy base to stand on.
If it is partially filled with air, the elephant would be wobbly and would not be able to stand still.
If there is no air in the Globe, the elephant would fall.
The amount of air indicates the extent of protection against risk that has been sought.
The concept of marginal being more important than average, was yet another thought provoking aspect. It is indeed true that whatever we have achieved till date does not stay for long, as it becomes an achievement of the past. The greatness of the individual lies definitely on the marginal productivity or if I may put it as the marginal improvement/enhancement in whatever he/she may be proficient in. So more the effort, passion and dedication, better the marginal and still better the average performance. I think as an MBA student, the above is definitely something of great importance to me. Even otherwise, I think it would instill a sense of satisfaction in an individual.