Varsity, co-op bank join hands to insure Kerala hamlet residents

Student volunteers visit homes in Chakkittapara in Kerala’s Kozhikode district. Credit: Special Arrangement

Christ (Deemed to be University) and Chakkittapara Co-operative Bank in Kerala’s Kozhikode district are collaborating for a project aimed at insuring all residents of the Chakkittapara gram panchayat.

The project envisions complete coverage of the panchayat by November 1, Jossy Peter, insurance co-ordinator at the university, said. “The insurance penetration in our country is 4.2% compared to the favourable 7.3% at the global level. This objective by Christ University is to try and see if academia could play a role in helping nation-building with respect to social outreach through insurance programmes,” he said.

Undergraduate students of the university and college students in Chakkittapara worked with the co-op bank officials and panchayat ward members to complete a survey to collect the requisite data from 21,086 residents.

Peter said Chakkittapara was chosen for the project for the substantial number of people below poverty line in the panchayat. He said the project would be beneficial for people in the area, which comprises tribal settlements. The project will also help the students build their social skills, he said.

Meena Kumari, Chief General Manager with the Insurance Regulatory and Development Authority of India, complimented the university for the initiative. Prof Biju Toms, Director, School of Commerce, Finance and Accounting at the university, said the university and the co-op bank had a shared vision on the outreach programme.

Raghunath, president of Chakkittapara service co-operative bank, said the project was significant in that it offered insurance cover for the area at a time when there’s “so much uncertainty”.