Insurance Sector in India Last Updated: August 2013 Brief Introduction Currently India is a US$41 billion industry. Currently‚ in India only two million people (0.2% of the total population of 1 billion) are covered under Mediclaim‚ whereas in developed nations like USA about 75% of the total population are covered under some insurance scheme. A robust insurance sector is a boon to a country’s economy. The sector facilitates long-term funds for infrastructure development and simultaneously
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1. DENTAL INSURANCE As we know that poor care of mouth and teeth can affect a person general health and well-being throughout his life. Generally‚ when this problem comes‚ there is a need to start seeing a dentist regularly…and everyone knows a hole in tooth can put a bigger hole in wallet…that costs money! Because dental disease is so common‚ being protected by dental insurance and using it wisely is essential safeguards for any individual or a family. Dental insurance provides with an effective
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Micro insurance Micro insurance is the key element in the financial services for people at the bottom of the pyramid. The poor face more risks than the well off‚ but more importantly they are more vulnerable to the same risk. Usually the poor face different type of risks i.e. Household type‚ drought and epidemic etc. To combat these risks‚ the poor do‚ proactive risk manages meat like grain storage‚ savings‚ assets accumulation loans from friends and relatives. Micro insurance provides greater
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Principles of Insurance Principles of Insurance An insurance contract is a type of a legal contract in which a type of risk is transferred to an insurance company in return of a premium by the policyholder. As by their nature‚ insurance contracts may be exposed to misconduct by both parties: the underwriter and the policyholder. Therefore six principles of insurance‚ which are recognised by law‚ were created to reduce this type of abuse. In the following pages I will explain these principles
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PRUDENTIAL ASSURANCE MALAYSIA BERHAD ------------------------------------------------- REPORT ON THE CURRENT INSURANCE INDUSTRY SITUATION AND EMPLOYMENT OPPORTUNITIES AVAILABLE IN THE INSURANCE INDUSTRY TERMS OF REFERENCE To investigate the current industry situation and employment opportunities available in the insurance industry‚ specifically in Prudential Assurance Malaysia Berhad. ------------------------------------------------- PROCEDURE -------------------------------------------------
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HistoryAetna‚ Inc. is an American health insurance company‚ which is the direct descendant of Aetna (Fire) Insurance Company‚ of Hartford‚ Connecticut. In 1850 Aetna began operation of an Annuity Fund and the company would soon to be known as Aetna Life Insurance Company. In 1899 Aetna became one of the first publicly held insurance companies to enter the health insurance field. Since then Aetna has become committed to providing access to cost-effective health care of the highest possible standard
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Introduction: According to figures from the US Coalition Against Insurance Fraud‚ the cost of claims fraud in the US alone in 1995 amounted to US$ 85.3 billion‚ which equates to a cost of US$ 326.47 for each American citizen. Research by the Rand Institute for Civil Justice in the US revealed that over one third of people injured in vehicle accidents exaggerated their symptoms‚ which adds US$ 13-16 billion to the annual US insurance bill. Figures from the pan-European trade association‚ the Comité
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Automobile Insurance "Insurance is a legal contract that protects people from the financial costs that result from loss of life‚ loss of health‚ lawsuits or property damage."(Nielson.) This protection is given to the customer in exchange for a monthly payment to the company. This is a legal contract which is known as a policy‚ binds the customer to the insurance company for the duration of the policy. Insurance‚ whether it be life‚ health or auto‚ helps customers feel safe from everyday risks
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Page 1: Insurance Page 2: Lloyds contribution Lloyd’s of London (also known simply as Lloyd’s) is an insurance market located in London’s primary financial district‚ the City of London. It serves as a partially mutualised marketplace where multiple financial backers‚ known as underwriters‚ or "members"‚ both individuals (traditionally known as "Names") and corporations‚ come together to pool and spread risk. Page 3: Unlike most of its competitors in the industry‚ it is not a company but it is
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Case Study Progressive Insurance Table of contents: Page I. Brief Description of the case…………………………………………………………………………………… II. Statement of the Problem……………………………………………………………………………………… III. Objectives of the case study…………………………………………………………………………………… IV. Methodologies………………………………………………………………………………………………………. V. Analysis………………………………………………………………………………………………………………….. A. SWOT analysis B. VI. Significant Findings……………………………………………………………………………………………….. A. Positive
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