Above the fancy world…



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Above the fancy world there lies a real one.
Acceptance of reality is done by none.
When life show fantastic movie of reality.
People leave the ground with no integrity.
Lack of patience and firmness creates barrier.
Moving in unknown path to find a carrier.
Life does give chance to cope up and rise.
Still, many chose to live in disguise.

Fantasy of life needs to be understood and accepted.
Ups and downs are part of life which is tried and tested.
During the course of journey, be adamant on your decision.
Small fluctuations should not influence your decision.
Reality rests inside us and we need to explore.
Falling and rising are continuous to explore the shore.
Every moment is a learning experience.
Feel it and learn to share your experience.
As life is the biggest teacher…
Come out of the fancy world and start.
As…
Above the fancy world there lies a real one.
Acceptance of reality is done by none.

Ashish Kumar

Cricket World Cup 2019 – A Recap…


The ICC Cricket World Cup 2019 hosted by England and Wales concluded on 14th July, 2019 with England being crowned as a new Cricket world champion. It all started on 30th May, 2019 when the battle of becoming world champion began with inaugural match played between England and South Africa. There were total 48 matches played in this 12th edition of ICC Cricket World Cup 2019 starting from 3oth May to 14th July.

This World Cup gave a new champion after 23 years when Sri Lanka won the World Cup in 1996. England is the new World Champion in Cricket. In the past, England reached world cup final at three occasions but were unable to defeat the opponent. In 2019, England reached final for the fourth time and managed to become World Champion for the maiden time creating a history. Australia had won World Cup for the maximum number of times followed by West Indies and India.  Team wise number of world Cup wins are given in below table:

No of times World Cup win Team Year
5 Australia 1987, 1999, 2003, 2007 & 2015
2 West Indies 1975 & 1979
2 India 1983 & 2011
1 Pakistan 1992
1 Sri Lanka 1996
1 England 2019
Source: International Cricket Council (ICC)

As it can be inferred, Australia had dominated the Cricket World Cup with maximum wins of five times and it is the only country having three consecutive World Cup wins (1999, 2003 & 2007). India won two times in 1983 and 2011. India reached both 2015 & 2019 world cups  semi-final but couldn’t convert it to the finals. India had a close encounter with New Zealand cricket team in 2019 semi final  where later defeated India by 18 runs to enter the World Cup final. The second semi-final between England and Australia was totally dominated by English team who crushed Australia by 8 wickets and paved the way for the historical final at Lord’s.

2019 Cricket World final, played between England and New Zealand was thrilling, interesting and competitive in nature where both teams were putting their all effort to win for the maiden time. Cricket fans across the globe were witnessing the history being made at Lord’s Cricket ground; also known as “Mecca of Cricket”. New Zealand won the toss and decided to bat first setting a target of 241 for England to win. England started to chase the target with early breakdown of 86 for four wickets and game was in the New Zealand favor. Then came Ben Stokes and Jos Butler, their valuable partnership turned the match in the England favor till fall of Butler’s wicket.  Again the ball was in New Zealand favor but Ben Stock  took the game till the last ball of the match and the scores were labeled which made to go for Super Over and England made 15 runs in the Super Over, giving New Zealand target of 16 runs to win. New Zealand made 15 runs in the Super Over and the score were labeled again. England won by the number of boundaries rule as their number of boundaries was more than New Zealand. England created history by winning the Cricket World Cup for the maiden time.  Also, for the first time in the Cricket World Cup history, Super Over was used to decide the winner. This World Cup final was outstanding…

Finally, Cricket won…

Congratulations to the England team for their maiden World cup win and also congratulations to the New Zealand team for winning hearts of millions of Cricket fans.

– Ashish Kumar

Welcome the Weekend…


Seven days in a week…
Monday morning is lazy.
Friday evening is crazy.
Moment of joy on Friday evening is immense.
Weekend is about to arrive in few minutes.
Leave the work load aside.
Welcome the weekend with joy.
Enjoy the time with full enthusiasm.
Don’t forget to add sarcasm.
Let’s be crazy for these two days.
It gives relaxation from hectic five days.
Live, love and release your stress.
Don’t take new stress.
Be crazy and dance.
Two days are for new chance.
Chance of happiness and enjoyment.
Be ready…
Leave the work load aside.
Welcome the weekend with joy.

Ashish Kumar

We will rest…


Weather is cool and smooth.
Your companion is always soothe.
Your silence speaks more than your words.
I am diving deep in your love.
When you came suddenly in my arms.
I became wealthy by your charm.
Worthy are those who find their love.
What about me when you are my love.
Trust me you are the best.
Come in my arms and we will rest.
You can’t look back the atrocities of past.
Better to move on and bury the past.
You suffered a lot and its’ time to enjoy.
Come together and we will have joy.
Let’s begin and start our journey.
We will create a new history.
Life is not always what we expect.
Sometimes it does the patience test.
Be patient and hopeful.
As you are the best.
Yes..
Trust me you are the best.
Come in my arms and we will rest.

– Ashish Kumar

Furious mind…


Oh my furious mind!
Please relax and don’t get annoyed.
Life offers both good and bad.
Enjoy the good and fight the bad.
Every moment is a challenge.
Be cool and try to manage.
Be flexible and cope up with the changes.
Stand again and fight the challenges.
Be patient and rise.
Don’t indulge to patronize.
Life will offer mishap and concussion.
You need to offer the solution.
Patient, humble and trouble-shooter.
Let the brain should dissolve trouble maker.
Hence, I request…
Oh my furious mind!
Please relax and don’t get annoyed.

– Ashish Kumar

Introducing Regulatory Sandbox in Insurance


Insurance sector in India has witnessed many changes and reforms since 2000. Be it, opening the market for private players in 2000, Foreign Direct Investment (FDI) upto 26% in 2000, detariffing in 2007, allowing foreign reinsurers to open their branch offices in 2015, FDI upto 49% in 2015 etc.  These measures did had positive impact in the industry as a whole and one of the coming reform measures which Insurance Regulatory and Development Authority of India (IRDAI) has proposed is of Regulatory Sandbox in Insurance. This post will be discussing about the proposed Regulatory Sandbox.

IRDAI will be coming up with a separate regulation for the regulatory sandbox in insurance and draft of this regulation has been already published and once published in the Gazette of India after necessary changes if required will come into force and will be known as IRDAI (Regulatory Sandbox) Regulations, 2019.  There are two important terms which requires attention to understand what this proposed regulation is all about and what will be its impact in the insurance sector. These two terms are:

  • Regulatory Sanbox: This means an environment used in the financial service sector, which provides testing ground for new business models and applications that may not necessarily be covered fully by or fully compliant with existing regulations. Let’s understand this in simple terms. Insurance is a highly regulated sector and there is much regulatory compliance which needs to be followed in this market. Regulations are there in every step in insurance. What regulatory sandbox says is that it will be providing and environment for testing of new business models which will not require being fully compliant with the existing regulations. Having said that, this means insurance company can come up with new products and business models with relaxation in terms of being fully compliant with the existing regulations.
  • Sanbox Environment: This means a testing environment designed for experimentation for a specific period of time. Regulatory Sandbox provides testing grounds for new business with relaxation from being fully compliant and Sandbox environment gives the testing environment to experiment for specified period of time. Let’s understand this with a simple example. Suppose an insurance company had developed a new product covering those risks which are normally excluded. Product development requires many regulatory clearances but since the company has developed this product with the provisions of Regulatory Sandbox, all the regulations need not to be complied. As the insurance company had developed a new product, they require seeing how the product will perform and for that they need to experiment with the newly developed product which can be accomplished by Sandbox Environment which provides the ground for doing experiment. Regulatory Sandbox gave the opportunity to develop new product with relaxation in being fully complied with the regulations and Sanbox Environment gave the testing platform for the newly developed product.

As it can be inferred from the above discussion, the whole idea of Regulatory Sandbox is to allow insurance industry to come up with the new ideas, innovation, business models etc. with relaxation with existing regulations while keeping the interest of policyholder’s intact. An applicant may apply to the Authority seeking permission for promoting or implementing innovation in insurance in India in any one or more of the following categories:

  1. Insurance Solicitation or Distribution
  2. Insurance Products
  3. Underwriting
  4. Policy and Claims Servicing
  5. Any other category recognised by the Authority.

The application shall be accompanied by a non-refundable processing fee of rupees ten thousand plus applicable taxes. IRDAI will verify the application and once satisfied with the application can grant permission for the period of 6 months. However, extension can be granted if required but not more than for 6 months. This means, the applicant has to complete the task in six months and if granted extension, maximum one year. IRDAI will review the progress at periodical intervals.

On completion of the allocated time period or size of the proposal specified, the Applicant shall submit a report to the Authority within 15 days on how the proposal met the objectives along-with feedback from the policyholders. The applicant shall also submit a plan of action as to how to enable the proposal to be brought under regular regulatory supervision. On examining the report submitted by the applicant, IRDAI may grant permission to the applicant to adopt the proposal under regular regulatory supervision wherein in addition to provisions of Insurance Act, 1938, IRDA Act, 1999 all regulations, guidelines, circulars, etc will be applicable from the date of moving to regular regulatory supervision.

In brief, the introduction of Regulatory Sanbox allows the insurance industry to come up with new innovations in insurance with relaxation of from existing regulations for maximum period of one year. Once the performance of the proposal is up to the mark or meets the objectives as expected it can be converted into the normal regulatory supervision. Since there are provisions for regulatory relaxation and hence, regulatory sandbox can be considered as a good move for the innovation in insurance industry. Not only this, it will also allow to do experiment in untested areas of insurance which will also promote research and innovation in insurance sector in India.

What are your thoughts on this introduction of Regulatory Sandbox in insurance? Do share your views.

– Ashish Kumar

Coming Tornado


Miffed with the unexpected battle.
I landed in the path of unrealized trouble.
Nature was cool with its weather.
I was facing the breeze of debacle.
Moving in the no man’s land.
I reached the land of sand.
No ray was able to motivate.
It was difficult to plant and cultivate.
Challenge and trouble came back to back.
Nothing was left while I looked back.
I didn’t cried but tears came slowly.
I started to make new path of my journey.
Barren land doesn’t give fruitful results.
Life is full of twisted results.
Challenge lies in the heart and mind.
Accept it and don’t mind.
Life may be sometimes barren.
Convert it into a terrain.
This is what t I realized from the fiasco.
I started with full dedication…
And didn’t stop from the coming tornado.
Didn’t stop from the coming tornado.

– Ashish Kumar