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Gender
Issues in Post-Disaster Resilience Building Through Microinsurance
-- Jyotirmayee Kar
In
the aftermath of disaster, all policies zero-in on relief
and rehabilitation measures. Increasing the coping capacity
of the victim also remains a cause of concern but always plays
a second fiddle. Women, more vulnerable to such hazards, often
receive little attention for their specific needs. This paper
highlights some issues related to the vulnerability of women
and underlines the role of microinsurance in enhancing the
coping capacity of the affected people in general and women
in particular. It is also true that making the poor and downtrodden
aware of the benefits of microinsurance and collecting a regular
premium from them is an uphill task. The paper makes a humble
attempt to come up with a few proposals to make such a scheme
work with the bankable and creditworthy poor. The roles of
SHGs, active NGOs national and international insurance companies
need to be highlighted. It also incorporates the successful
case studies of Vimo SEWA of Gujurat, CSD of Nepal and WWF
of Southern India, and observes that their action can be emulated
in other disaster vulnerable areas.
© 2007 IUP . All Rights Reserved.
A
Study on the Application of `Martingale Approach' to the Management
of Pension Liabilities
-- Donatien
Hainaut and Pierre Devolder
This
paper determines the optimal asset allocation of pure endowments
insurance contracts, maximizing the expected utility of terminal
surplus under a budget constraint. The market resulting from
the combination of insurance and financial products is incomplete
owing to the unhedgeable mortality of the insured population,
modelled by a Poisson process. For a given equivalent measure,
the optimal wealth process is obtained by the martingale approach,
and the investment strategy replicating at best this process
is obtained either by martingale decomposition or by dynamic
programming. The paper also illustrates this method for CARA
and CRRA utility functions.
© 2007 IUP . All Rights Reserved.
An
Explorative Study of Life Insurance Purchase Decision Making:
Influence of Product and Non-Product Factors
-- Prashanta Athma and J Ravi Kumar
In
the globalization policy, insurance companies face a dynamic
global business environment. The existing insurers are facing
challenges from non-traditional competitors who are entering
into the retail market with new approaches and through new
channels. While quality of service is the main influencing
factor in the finance market, in the insurance market, product
attributes are the main factors that influence the success
of insurance companies. Though, there has been growth in life
insurance industry over the past years, comparatively, insurance
penetration in India has not increased in spite of the considerable
growth potential of Indian life insurance market. With liberalization,
many insurance players have entered this field from the year
2000, and the task before them now is to identify what factors
the prospective policyholders look for in selecting the policy
and to what extent these factors influence in decision-making.
In this context, this study assumes importance. The main objective
of the paper is to identify the factors which the consumers
take into consideration before selecting Life Insurance Products
and determine the extent to what these factors are taken into
consideration for choosing the life insurance products. This
research is carried out by collecting primary data from 200
policyholders of Life Insurance Corporation of India through
self-structured questionnaires. The sample consists of 100
policyholders from urban area and 100 policyholders from rural
area. c2 test is employed to test if there is any
association between Residency and Attributes of the product.
Further, Proportional Method of Association is used to find
out which factor has more influence. Both, product and non-product
attributes have been found to be important in selecting a
policy but they have been rated differently. Rating is different
in urban and rural areas.
© 2007 IUP . All Rights Reserved.
A
Study on Customers' Preference towards Insurance Services
and Bancassurance
-- Rajkumari
M
Bancassurance
is a channel of distribution of insurance products through
banks. A number of insurers have already tied up with banks
and some banks have already flagged off bancassurance through
soft launches of select risk products. Bancassurance has been
gaining momentum in the Indian market. This study is carried
out to understand the position of private players when compared
to public, and also to find the most preferred policies with
these leading companies. It also aims to analyze the segment
wise preference among different age groups. The study has
been undertaken in order to identify the customers' attitude
towards purchase of insurance products and also their knowledge
on the bancassurance formats available through banks. The
study concludes that there is a low level of awareness about
bancassurance among bank customers and thereby gives suggestions
to improve insurance penetration levels.
© 2007 IUP . All Rights Reserved.
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