'SCENARIO' PLANNING OR PLANNING FOR 'OPPORTUNITY'?
So far, financial planning has been about 'scenario' planning. There is little in scenario planning that suggests we can shape our environment proactively. Hence, this approach is unable to take advantage of changing circumstances.
Many get caught in the speculation game. They try to predict what may happen in the future and use 'threat-focussed' conventionally acceptable models for financial planning.
Asset Care belongs to today's evolving world. We are quick to spot an opportunity and move with agility, courage and knowledge. We have an entrepreneurial approach to wealth management.
Asset Care was formed in the year 2005. However, the CEO and founder of the company has been in the business of Equity, Real Estate and Insurance since 1990. Over the years, one has experienced market fluctuations, historic events, terrorism and calamities, thus sensitising and equipping us to deal with the exposure to risk and evaluation of opportunities.
We are sharing some of our experiences and learnings over the years.
CASE STUDY: MUMBAI FLOODS 26/7
On July 26th, 2005, 11 years ago, Mumbai drowned in 944mm of rain. The deluge, referred to ever since simply as ‘26/7’ in the manner of a terrorist attack, killed over 500 people and left the city with indelible scars.
Thousands of cars were submereged in flood water all over the city, leading to unprecedented and never-seen-before number of claims. Insurance companies, deluged with the amount of claims, rejected them unfairly.
Asset Care, incorporated on 4th August 2005, had to represent close to 100 claims of its clients within the first week of operations.
Asset Care took the initiative of forming a consortium of insurance agents to represent the case of 1000s of suffering customers. The insurance company, under duress had no choice but to treat the claims fairly and settle them satisfactorily.