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Boardroom buzzwords: security, insurance cover

business Updated: Sep 15, 2008 22:14 IST
Boardroom buzzwords: security

The spate of bomb blasts in prosperous metros has sparked off “security management” and “terror insurance cover” as the new boardroom buzzwords. With the five blasts in Delhi last Saturday that followed similar attacks in Ahmedabad and Bangalore earlier this year, private security system providers are also suddenly in great demand.

Increased frequency has resulted in higher awareness of security needs leading to an explosive growth for security systems providing companies. While the sector was always well entrenched in home and commercial security markets, government and allied organisations are now lapping up these services in a big way.

“These recurrent blasts have had a major impact in the government vertical of our business,” said Pramod Rao, managing director, Zicom Electronic Security Systems Ltd. “The other segments are witnessing healthy growth but in government services it is explosive with huge projects being commissioned.”

Zicom is in the process of providing security at the Supreme Court annexe in the capital and is also witnessing growing demand at places of worship.

“There are segments from where we never expected any business like temples, churches, transportation segment, etc. where there is huge demand now,” Rao said.

The company also provides equipment for security at places like Krishna Janam Sthal in Mathura, Kolkata Metro, Mumbai Western Railway and at companies like Wipro, I-Flex, ANZ, Philips and SAIL.

“With software getting sophisticated and hardware becoming cheaper, this industry is going to blow up soon. However, to really secure our cities from terror threats we need to go beyond what we are doing today and invest in city surveillance systems on the lines of London and New York,” he added.

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