13 June 2025 – The Pan-Asia Risk and Insurance Management Association (PARIMA) successfully wrapped up its third Mumbai Conference on 13 June 2025 at The Leela Mumbai, gathering close to 200 attendees from across Asia-Pacific.
The full day conference featured seven engaging sessions, highlighting critical conversations around seven engaging sessions –– in line with PARIMA’s 2025 theme: The Risk Generation.
The day began with a Welcome and Opening Address delivered by PARIMA’s General Secretary, Steve Tunstall, along with India Board Members, Vinit Prabhu and Nitin Nair, who set the stage for a day of meaningful dialogue and collaboration. Together, they reflected on PARIMA’s growth over the past year and reaffirmed the organisation’s commitment to building a strong, collaborative risk community across the region.
Session Highlights
The conference opened with Hitesh Joshi, Executive Director at General Insurance Corporation of India, who led a session titled “Managing Risk in the Risk Management Industry – Can We Do More?” He explored redefining the role of risk and creating value.
“The universe of data is undergoing profound changes and new environment presents new correlations, new paradigms and lending new dimensions to systemic risks. We need efficiency but also resilience. We need more value creation but also more sustainability. Well, the challenge is clearly before Risk and Insurance Management Professionals,” said Hitesh.
This was followed by Terence Williams, Head of Commercial Risk Solutions, APAC at Aon, who presented “Enabling Better Decisions Through AI-Driven Insights”. His session focused on how Artificial Intelligence (AI) is transforming risk analysis and decision-making, providing risk managers with powerful tools for forecasting and mitigation.
“Aon’s Client Trends Report shows how interconnected forces — like trade volatility, emerging technologies, extreme weather and workforce disruption — are redefining business risk. AI offers a powerful lens through which to interpret these complexities. By uncovering patterns, identifying correlations and predicting future disruptions, AI enables business leaders to anticipate risk, adapt strategies and make faster, better-informed decisions in an increasingly uncertain world,” said Terence.
In the afternoon, the conference split into two concurrent breakout sessions.
Sujoy Maitra, Underwriting and Claims Head for Marine and Hull at ICICI Lombard, delivered “Global Supply Chain Disruption: Navigating Uncharted Waters.” He discussed about the importance of proactive risk mitigation in the rise of unpredictable supply chain disruptions.
At the same time, Sumit Khanna, CEO of FM India, addressed “Tomorrow’s Risks – When Insurance Alone Isn’t Enough.” His session explored how relying solely on insurance is no longer enough, and a holistic approach is needed to address the risks.
Later in the day, another two sessions ran concurrently.
Samuel Bye, Head of Cyber, Asia and Middle East at AXA XL, presented “Cybersecurity in India’s Industrial Revolution: Safeguarding Smart Factories and Power Grids”, highlighting vulnerabilities in risk scenarios that can impact continuity and safety, and the tools and techniques to build resilience and support informed risk transfer decisions.
“As India’s manufacturing sector expands, the integration of smart technologies into our power grids and factories presents unprecedented cybersecurity challenges. Operational technology (OT) environments, with their unique vulnerabilities and legacy systems, require risk managers to adopt specialised security measures. Understanding ‘Shadow OT’ and investing in tailored cybersecurity tools are essential steps to effectively safeguard our critical infrastructure and ensure resilience in the face of evolving threats,” said Samuel.
Soumya Shukla, Executive Partner at ElpeeCo Legal & Regulatory Consultants, conducted a session titled “Navigating Risk – A Surety Perspective”, which shed light on the growing relevance of surety bonds in safeguarding contractual obligations and ensuring project integrity.
“Surety arrangements are rapidly gaining traction to address the expanding demands of India’s infrastructure growth. Fuelled by government support and increasing acceptance, surety is set to extend its reach beyond the infrastructure sector, becoming a preferred solution for risk management across various industries,” said Soumya.
The final session of the day, “Renewable Energy Vs. Climate Change: A Two-Way Risk Equation”, was co-led by Chetan Kashyap, Vice President – Renewable Energy, Practice Leader at Prudent Insurance Brokers, and Deepak Madan, Head – Large Accounts Practice at Prudent. The session examined how renewable energy itself can be a source of risk – and opportunity – amid climate volatility.
“The discussion emphasised on how climate change and renewable energy is crucial for corporate risk managers as it impacts the sustainability and resilience of operations. One of the key takeaways –– Climate and Renewable: Dual Corporate Risk: Climate change and renewable energy present intertwined risks demanding a unified corporate risk management approach,” said Chetan.
The conference concluded with PARIMA’s third edition of the Next-Gen Risk Takers, with Sonal Sisodia as the winner –– speaking challenge for emerging Risk Professionals to share their risk-related learning and stories to a live audience. Winners of the challenge will be awarded with a subsidised trip and an opportunity to speak at the PARIMA Conference in Singapore, from 29 to 30 October 2025.
The conference wrapped up on a high note with an exciting lucky draw giveaway for an Apple Watch. Attendees who completed the conference survey were automatically entered into the draw. The lucky winner goes to Sanjay Pathak from Innomotics.
For more information about the Mumbai Conference 2025, visit https://parima.org/conference/mumbai-2025/
ABOUT PARIMA
The Pan-Asia Risk and Insurance Management Association (PARIMA) is a not-for-profit organisation dedicated to advancing the risk management profession across Asia-Pacific. Through its events, partnerships, and educational initiatives, PARIMA empowers risk professionals with resources, connections, and knowledge to navigate today’s complex risk landscape. With more than 2,600 members representing over 1,300 companies, PARIMA collaborates with 31 partners to foster resilience, growth, and dialogue within the APAC risk management community.
Media Contact:
Louisa Seow
Content Journalist
PARIMA
louisa.seow@parima.org
+65 8013 0740
