In an extremely interactive session Mr. Alamchandani spoke of the rising importance of insurance mainly from the Indian perspective. He began the session by describing the definition. He wanted the students present at the session to showcase their understanding of the subject. The flow of the guest lecture was structured for it began with the concept of insurance as a general idea. Insurance is a vital component of any risky venture for it attempts to remunerate for any future damages that might take place. Health insurance is categorized into life, non-life insurance and re-insurance. The non-life insurance industry consists of both private and public entities. In addition to the illustrious companies that are present in the industry, there is the Insurance Regulatory and Development Authority of India known as the IRDA is responsible for overseeing the insurance related activities that take place. The Indian Insurance Industry is a dynamic one for it facilitates the economic, industry, company and personal shifts in the overall global environment. India as a growing economy is making strides in the healthcare industry and taking care of the patients in both medical and insurance aspects.