COVER STORY
Globalization : Impact on Insurance
-- B V Ramana
Globalization is the process of interaction and integration among people, companies and governments of different nations, driven by pulls and pressures from developed economies and aided by the pace of information technology. Insurance being an integral part of financial services could not claim immunity to the impact of the globalization process and thus followed suit and opened up to private and global players, world over including India, thanks to the persistent efforts of Multinational Companies (MNCs) and the wider world economic order.
© 2007 IUP . All Rights Reserved
LIFE INSURANCE
Simple Approach to Life Insurance and Pensions : When I Am Not There - While I Am There
-- VNS Pillai
Life insurance is explained from the angles of "death benefit" and "survival benefit". Death benefit term assuranceis explained as an answer to the question what would happen to my dependents "when I am not there". Survival benefitpure endowmentis explained as an answer to the question how to accomplish expectations "while I am there". Maturity claims and pensions are nothing but survival benefits. Both life insurance and pensions have relevance at three levels, viz., the individual, social and national. The coming year will bring more professionalism in the industry. Insurance professionals should help the fraternity move from the awareness level to insight level as far as the subject is concerned.
© 2007 IUP . All Rights Reserved
LIFE INSURANCE
Life Insurance : A Profitable Investment Destination?
-- Ashok Kumar Panigrahi
No doubt, insurance is not a profitable investment avenue but still there are enough reasons to justify why you should invest in insurance. The importance of life insurance lies in its element of risk coverage and not in its returns part. Even though the returns part is very less in life insurance as compared to that of other investments, still it is suggested to have life insurance as the saying goes, "Insure and be Secure".
© 2007 IUP . All Rights Reserved
REGULATION
Life without TRIA : The Industry Does Not Have the Resources to Go it Alone
-- Michael J Moody
TRIA comes out with a huge support against terror attacks. But this is not a permanent solution. The article raises the question as to what life would be after the expiry of TRIA in 2007?
© 2006 Rough Notes. Reprinted with permission.
INSURANCE OPERATION
Intelligence in Insurance Business
-- Samuel B Sekar
Geographic Information System (GIS) is an intelligence system which gives smart information about the location of the customers and also their belongings, thereby enabling better administration of policies and claims.
© 2007 IUP . All Rights Reserved
INSURANCE OPERATION
Operational Due Diligence for Value
-- Bruce D Fell
Closer scrutiny of a target company's operations can bring insights about the potential for future income, a major source of value in any M&A deal.
© 2006 Towers Perrin. This article was first published in the August 2006 issue of Emphasis Magazine (www.towersperrin.com). Reprinted with permission
HEALTH INSURANCE
Health Insurance: Competition Among the Players is Yet to Touch the Pricing Arena
-- Pradip Banerjee and CK Parhi
Health insurance is promising to be a major component of non-life insurance business. At present, it is subject to free pricing. A comparative analysis of premium rates charged by various non-life players under the health policies is attempted to ensure the reasonability or otherwise of rates.
© 2007 IUP . All Rights Reserved
NON-LIFE INSURANCE
What the West Coast Can Learn from the Gulf Coast
-- Robb Greenspan
Hurricanes are the strongest form of disasters. It is incumbent upon the agent to be in readiness before a disaster strikes. The insured also has to adhere to certain steps which facilitate the claim settlement process.
© 2006 Insurance Journal. This article was first published in the September 2006 issue of Insurance Journal (www.insurancejournal.com). Reprinted with permission.
NON-LIFE INSURANCE
Insurance, a Prerequisite of Agriculture
-- Lingisetti Venu
In India, 60% of the agricultural lands are still at the mercy of uncertain rains and with groundwater dwindling constantly, the need for agricultural insurance for its farmers is increasing day by day. Moreover, there is also the need to keep the design and presentation of various agricultural insurance schemes simple for easy comprehension.
© 2007 IUP . All Rights Reserved
CASE STUDY
A Study on the Performance of Benefits Provided by Employees' State Insurance Corporation of India
-- N Namasivayam, S Rajendran and R Eswaran
Insurance is a device to handle risk. Its primary function is to substitute certainty for uncertainty as regards to the economic cost of disastrous events. The study on the performance of ESI reveals scope for streamlining and strengthening the existing procedures for claiming compensation from ESI.
© 2007 IUP . All Rights Reserved
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