The topic of the second panel discussion at Mint's insurance conclave was: Life insurance 20-20: Issues for the next 20 years. On the panel were: B.Venugopal, managing director (MD), Life Insurance Corp. of India (LIC); N.S. Kannan, MD and chief executive officer (CEO), ICICI Prudential Life Insurance Co. Ltd; Prashant Tripathy, MD and CEO, Max Life Insurance Co. Ltd; R.M. Vishakha, MD and CEO, IndiaFirst Life Insurance Co. Ltd; and Vibha Padalkar, MD and CEO, HDFC Life Insurance Co. Ltd. The discussion was moderated by Monika Halan, consulting editor, Mint. Here are the edited excerpts: