BOOK REVIEW
CRM in Insurance: An Introduction
- - V V Gopal
CRM remains the tool of choice for many insurance companies in improving their business. This book presents the insurance scenario and focuses on the opportunities this lucrative business offers, both to the insurers and the customers. It also illustrates how insurance companies gear up to the challenges thrown by the customers and the competitive environment itself by embracing CRM.
© 2005 IUP. All Rights Reserved
COVER STORY
The Complexities of Ratemaking in Insurance - - U Jawaharlal
If a business enterprise is to be successful, the pricing strategies must be objective. In the same way, for an insurer, ratemaking must be as objective as possible if the overall success of the insurance mechanism is to be accomplished. However, insurers face several hurdles in achieving this.
© 2005 IUP. All Rights Reserved
LIFE INSURANCE
Mortgage Redemption Assurance - - S M Manchanda
In spite of banks and housing finance companies offering mortgage redemption policies for low premium, very few borrowers are opting for these policies with the result that in case of the death of the mortgagor, it becomes virtually impossible for the family to repay the loan, particularly when the outstanding loan and interest are quite high. Lack of knowledge is making people take the wrong step. This article looks into why one should buy mortgage redemption or reduce term insurance policy.
© 2005 IUP. All Rights Reserved
BUSINESS ENVIRONMENT
Still in the Lead - - Roger Crombie
Bermuda, the global leader when it comes to hosting captive insurance companies, held its first annual captive conference in September. The hope is that the meeting will boost interest in the island, which has seen its share of the captive insurance marketplace decline over the past 15 years as the island has become more expensive and as other jurisdictions have caught up.
© 2005 Risk & Insurance (www.riskandinsurance.com). Reprinted with permission.
BUSINESS ENVIRONMENT
Maximizing Your Coverage After Hurricane Katrina - - Jay M Levin
Companies with operations affected by Hurricane Katrina, even those based outside the Gulf Coast, must deal not only with the human tragedy and disruption to people and business, but must also effectively protect the availability of insurance by making a timely claim and complying with all the conditions of coverage.
© Reprinted with permission from www.irmi.com (http://www.irmi.com). Copyright 2005 International Risk Management Institute, Inc.
MANAGEMENT
Alterations in a Life Insurance Policy - - V N S Pillai
Alterations may be necessitated in the schedule of the policy, its statements and declarations or even in its conditions and privileges. It is important for students, teachers, and customers to learn about the basics of alterations as they help in better enjoying life insurance benefits under a contract. There are many alterations in insurance policies that can be noted on the certificates.
© 2005 IUP. All Rights Reserved
INSURANCE OPERATIONS
The Emerging Structure of Bancassurance in India - - VV Ravi Kumar
Bancassurance is a combination of banking and insurance business. Bancassurance communication is expected to tangibly increase in India. The tie-ups and post-liberalization of insurance companies have increased its significance.
© 2005 IUP. All Rights Reserved
INSURANCE OPERATIONS
Unit Linked Insurance Products: An Investor Guidance Note
- - S S Shrinivas and V Anand
This guidance note attempts to present a broad view on ULIP products offered by various life insurers in India, so as to enable investors to take a well-informed decision.
© 2005 IUP. All Rights Reserved
INSURANCE MARKETING
The Art of Building a Relationship - - Jack Burke
Insurers will do anything to acquire business. They are willing to leave behind old customers when fresh business is acquired. Irrespective of the level of the customer, a long-term relationship should be maintained. In this article, the author highlights the importance of Post Sales Service which is hardly found in today's market.
© 2005 Jack Burke, Sound Marketing, Inc.(www.soundmarketing.com). Reprinted with permission.
REGULATIONS
Agents Getting `Flood Smart', Selling More Through FEMA Initiative
- - Dave Willis
New legislation brings changes to flood insurance program.
© 2005 The Rough Notes Company (www.roughnotes.com). First published in the September 2005 issue of Rough Notes magazine. Reprinted with permission.
TECHNOLOGY
Burden or Lifeline? - - Jon Guy
Brokers, like all modern businesses, need technology but are still not sure how to get the best out of it, says Jon Guy.
© The Chartered Insurance Institute, London, 2005 (www.cii.co.uk). Reprinted with permission.
INSURANCE ACCOUNTING
The CFO Forum's European Embedded Value: A Superior Financial Reporting Framework for Life Insurers - - Sheryl A Battit and David C Scheinerman
European Embedded Value (EEV) seeks to address certain limitations associated with most existing embedded value reporting, and provides a framework for financial measurement and disclosure that can be of significant value to all life insurers, including US insurers who have not embraced embedded value reporting before.
© 2005 PricewaterhouseCoopers (www.pwc.com). This article was originally printed in PricewaterhouseCoopers' Americas Insurance Digest quaterly publication ( July 2005 edition) and is reprinted here with permission from PricewaterhouseCoopers.
COUNTRY PROFILE
Vietnam: Life Insurance Market Sizzling Ahead with WTO Integration
- - Huynth Thanh Phong
The author gives an incisive take on the fast growth of the life market in Vietnam and the opportunities ahead as it joins the WTO and liberalizes further. In a remarkable feat, the market has grown from zero to half a billion US dollars in just six years.
© 2005 Asia Insurance Review (www.asiainsurancereview.com). Reprinted with permission.
REINSURANCE
Follow the Fortunes: Reinsurance and Ex Gratia Settlement of Claims
- - R Chandrasekaran
The follow-the-fortunes doctrine is re-examined, focusing on new reinsurance contracts. The basic principles of the follow-the-fortunes doctrine remain steadfast.
© 2005 IUP. All Rights Reserved
REINSURANCE
The Fixing of Retentions - - V K Sarma
Retention is the amount of risk the ceding company keeps for its own account or the account of others. In this article, the author gives an idea of how the insurers need to balance their risks and fix their retentions.
© 2005 IUP. All Rights Reserved
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