COVER STORY
Financing Terrorism through Money Laundering: The Role of the Insurance Sector
- - Jayshree Bose
Insurance companies had just begun building capacities good enough to touch the tip of the insurance frauds iceberg. All of a sudden, they find themselves accosted by an infinitely more complex problem: Perpetration of insurance frauds with the specific purpose of funding terrorists by using the money laundering conduit. What is it about insurance that lends itself to money laundering? What is the typical modus operandi of the perpetrators? And how can insurers graduate to tackle this phenomenon?
© 2007 IUP . All Rights Reserved
LIABILITY INSURANCE
General Liability Insurance - What Inhibits Its Growth?
- - G V Rao
The overall size of liability claims is increasing year after year. Growing literacy levels have increased the consciousness of rights. The article discusses the factors which contribute to liability claims and the responsibilities of a citizen towards third parties and others.
© 2007 IUP . All Rights Reserved
LIFE INSURANCE
How Far Your Investments are Safe in a Life Insurance Policy?: From Inception of Life Insurance Contract to End of Insurance Contract
- - R Masilamani
The Government of India intends to bring in a comprehensive legislation relating to insurance matters. There is an upbeat mood among all the insurance companies over the growth in their premium income through life insurance policies. The article intends to codify the possible extent the laws, rules and regulations available in our country can provide a safety net for funds invested by the policyholders in a life insurance policy.
© 2007 IUP . All Rights Reserved
HEALTH INSURANCE
Health Security for Rural Poor: Study of Community-based Health Insurance System in India
- - Sudha Menon
This article highlights the need for health insurance schemes in rural India especially in the context of increasing health expenditure burden over the poor and lack of public healthcare spending. The need for community-based health insurance scheme is analyzed with a case study of Chaitanya-HDFC Chub Insurance scheme successfully implemented in Maharashtra.
© 2007 IUP . All Rights Reserved
NON-LIFE INSURANCE
All the Pieces Matter: The State of the Workers Compensation Market
- - Bruce Hockman and Bob Conger
The article deals with the state of workers compensation market in the US. The market in the country depicts a great variance from state to state with prices softening in some states and hardening in others.
© 2006 Risk and Insurance Management Society, Inc. This article was first published in the November 2006 issue of the Risk Management Magazine. Reprinted with permission.
NON-LIFE INSURANCE
GIC Acceptance in Rural Sector
- - Renu Pilania
Indian economy has been an agrarian economy, and it stands fourth in the world in terms of output and income generated from agriculture activities. Despite such growth, there is lack of insurance penetration in the rural sector to cover their risks, which arises mainly from agriculture and poor health conditions. Hence, exploring the rural markets poses to be a herculean task to the insurers. Experts are of the opinion that the urban markets are rapidly getting saturated, and the future growth potential lies in the rural areas. To explore this potential area, insurers may have to use new strategies such as designing innovative products, need-based selling of insurance, better penetration, and development of new channels, etc.
© 2007 IUP . All Rights Reserved
RISK AND INSURANCE
All Risks are Not Created Equal: But Some are More Equal than Others
- - Dennis H Pillsbury
It is difficult to form homogenous groups as there are differences in risks or risk appetites. Risk retention groups however, have their advantages. The healthcare risk retention group formed by Caitlin-Morgan is a case in point.
© 2006 Rough Notes. This article was first published in the November 2006 issue of Rough Notes (www.roughnotes.com). Reprinted with permission.
SPOTLIGHT
SBI Life Insurance
- - Kamatla Sheeba
State Bank of India and Cardiff, a BNP Paribas Company, have entered into a joint venture to form SBI Life Insurance. The joint venture brings together State Bank of India, one of the leading commercial banks in India and Cardiff, a premier life insurance company in France. State Bank of India (SBI) was established in1806 and has built a strong reputation through its dedicated services. Initially, it was a presidency bank, known by the name Bank of Bengal. Over the years, the bank has grown from a presidency bank to a giant size with dynamic banking procedures.
© 2007 IUP . All Rights Reserved
CASE STUDY
Study of the Need Analyzer Tools Used by Life Insurance Companies for the Indian Market
- - Bijal Mehta and Shubhra Aanand
Globalization of the Indian economy and the subsequent liberalization of the insurance sector lead to a need of differentiating strategies, innovative products and customer service. The main challenges in the industry are that each company has a similar class of products, similar pricing policies and as far as selling is concerned the same type of distribution channels are present in the market. Thus, the only differentiation a company can make is through the method of selling. This article is an attempt to study the differentiating selling strategies of different life insurance companies. The focus is on the use of Need Identification approach to recommend the appropriate amount and type of insurance.
© 2007 IUP . All Rights Reserved
|
