Apart from infrastructure, Marsh is eager to offer "terror" cover to mega projects of top notch corporates in India and abroad, credit insurance, employees benefit insurance in IT and BPO sectors, Sanjay Kedia, Marsh India's principal officer told PTI in New Delhi.
Marsh Inc, a subsidiary of Marsh & McLennan Companies, having revenues in excess of $16 billion, is already offering risk management solution to 120 top companies in India.
"India is one of the most important markets for us in Asia. While inviting FDI within the country, there is an increasing opportunity for external investment by Indian corporates as India wants to establish a global identity," Marsh Asia head (political risks) James Quirk said.
"All sectors in India - luxury goods to infrastructure - are growing. With a sound legal system, India is increasingly attracting FDI especially from US firms," he said, adding that the demand for insurance cover and risk management has also gone up.
Identifying energy as a "high risk area", Kedia said, "Our approach is to provide comprehensive risk management solution to corporates."
Marsh is eyeing mega power and refinery projects apart from aviation, port, urban infrastructure sectors.
With a booming IT sector, Kedia said there was a high demand for insurance cover for errors and omissions, directors and officers liability has gone up as more and more IT companies are going global.
Even the BPO sector offers immense opportunity for insurance firms, Kedia said. "There is a huge opportunity for employment benefit programme in BPO companies, which includes life insurance, medical, personal accident, travellers cover," he said.
Marsh, which has operations in Delhi, Mumbai and Bangalore, plans to foray into more cities as business opportunities come.
