COVER STORY
Come on Down - The Claim is Right!
- - Chris Miller, Jonathan Clark and Bill Paton
As the Chartered Insurance Institute, London and the Chartered Institute of Loss Adjusters establish a Faculty of Claims to help with claims handling and support, three leading faculty board members tell what `treating customers fairly' really means.
© The Chartered Insurance Institute 2004 (www.cii.co.uk). Reprinted with permission.
LIFE INSURANCE
Physical Hazard and Life Insurance Premium - - U Jawaharlal
For a life insurance underwriter, it is very essential that the premium charged from a policyholder is equitable i.e., in proportion to the risk transferred to the pool. Physical hazard plays a major role in designing the premium. In a competitive regime, the premiums charged by different insurers should match each other because of the market forces. In India, despite the liberalized regime, is this happening?
© 2004 IUP. All Rights Reserved.
NON-LIFE INSURANCE
Scope for Geriatric Health Insurance in India: Some Issues and Solutions
- - S Ganesan and S Jayaprakash
The ratio between the number of people in the active working age to the number of people not involved in active working has declined these days. With the increase in number of lock-outs, VRS schemes and layoffs, many active working people are sent home with some attractive packages, thus the size of active workforce has declined. On the other hand, due to increase in longevity, the population of the elderly keeps increasing.
© 2004 IUP. All Rights Reserved.
BUSINESS ENVIRONMENT
Global Insurance Industry - A Perspective - - Vivek Gupta
This article examines the recent trends in the global insurance industry and the major influential factors like the emergence of new distribution channels to market insurance products; consolidation and globalization of insurance companies worldwide; rapidly developing technology; and changing industry laws and regulations. The article also examines the negative impact of the US terrorist attacks in 2001 on the industry.
© 2004 IUP. All Rights Reserved.
BUSINESS ENVIRONMENT
Rural Insurance Market in India - - A Srujan
Its been four years since the liberalization of the insurance sector in India has taken place. Now, there are as many as 26 insurance companies (one reinsurance company) operating and a few more would add to the list. This article makes an attempt to explore the current situation in insurance industry and particularly in rural India. It also tries to establish the role of the insurers, IRDA and the government in such a scenario.
© 2004 IUP. All Rights Reserved.
BUSINESS ENVIRONMENT
Renewed Energy in the Market: Insurers Look to Grow
- - Duncan Spooner
The next 24 months should be an active period of consolidation for insurers in the region. The author looks at the key factors fueling Mergers and Acquisitions (M&As) and predicts a heightened M&A activity following the relatively quiet years, while giving tips on how to get actuaries more involved in the sale-and-purchase process for better results in the M&A.
© Asia Insurance Review (www.asiainsurancereview.com). Reprinted with permission.
MANAGEMENT
Customer Service versus Cost - - Vikki Spencer
In an environment of high consumer expectations, mutual insurers looked to vendors to offer lessons in managing customer relationships at the Canadian Association of Mutual Insurance Companies (CAMIC) mid-year meeting which was recently held in Toronto. Speakers focused on meeting the customer service challenge while maintaining control of claims expenses and underwriting through enhanced information.
© 2004 Canadian Underwriter (www.canadianunderwriter.ca). Reprinted with permission.
INSURANCE MARKETING
Bancassurance: Challenges and Opportunities in India - - Rachana Parihar
Bancassurance refers to a conglomerate offering both banking and insurance products, usually in the form of a holding structure of separate but interacting entities, an integrated alliance exchanging services or an integrated operational mode. Bancassurance primarily banks on the relationship the customer has developed over a period of time with the bank. This paper emphasizes on how bancassurance will be beneficial for all the three segments i.e., banks, insurers and customers, and its challenges and opportunities in India.
© 2004 IUP. All Rights Reserved.
NSURANCE MARKETING
Term Insurance Sales Techniques - - Brian D Baetz
Today, people need term insurance more than ever, so one should learn to be efficient in its sale. Term insurance enables even those people who otherwise could not have afforded a sufficient amount of life insurance, to ensure that their family will not suffer financially should they die. What are the kinds of term products that are selling best now? What are the best ways for the producer to approach this large market?
© 2003, Pfingsten Publishing, LLC (www.lifeinsuranceselling.com). All Rights Reserved. Reprinted with permission.
RISK AND INSURANCE
When Was the Last Time Your Organization Had a Security Checkup?
- - David Nicastro
Businesses need to embrace the notion that it's worth investing time and money into the processes, procedures, and materials to protect employees, proprietary assets, and the communities they serve. Today, we still have too many critical infrastructure businesses that are waiting for Homeland Security or their insurers to tell them what sort of security precautions they need to take.
© 2004 www.irmi.com. Reprinted with permission.
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