Introduction Insurance in Kenya is known to have been in existence for over sixty years now with the first insurance companies believed to have been owned by British insurers during the colonial times. The industry is governed by the Insurance Act and regulated by the Insurance Regulatory Authority. The Insurance Regulatory Authority (IRA) was created by the Insurance (Amendment) Act of 2006 and came into operation on 1st May 2007. The Authority was established with the mandate of regulating‚ supervising
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purchase a life insurance policy‚ you receive a guarantee from your insurance company that your beneficiaries will receive financial help after you pass away. This money protects your loved ones‚ helping to safeguard their future by providing income to cover their expenses. The business insurance team at Maupin Insurance & Financial Services - Allstate Agency‚ located in Winchester‚ KY‚ explains the ways that life insurance protects the people you love. Consider these four ways that life insurance protects
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Life Insurance is a matter which people doesn’t want talk about. But it really needs to be under consideration. The people are not realizing the importance of life insurance and they even think what is the use of having a life insurance policy‚ if everything is going perfectly fine. A good life insurance policy can protect you and your family in entire life‚ still a large number of people is still uninsured. Firstly the people should understand what actually the insurance is. “It
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Dear John: We definitively have some issues here at Fruitvale Branch‚ but there are not the ones you think. The main problems that I could identify are the followings: * TAT (Turnaround time) measurement: We are not measuring correctly the TAT. In exhibit #3 shows that the TAT for a particular week is 8.2 days (0‚6+3.4+2.0+2.2)‚ but this means that the process is carried as a batch process‚ every process must be finished in order to go to the next one‚ and that is not the case (The possibility
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In an insurance industry‚ the insurance agent possesses multi-faceted roles to play as enlisted below: The insurance agent helps in promoting and selling of insurance products and services to its customers. Giving sound financial advisory services and customer support to the clients Needs to deal with not only individuals but their families and corporate businesses too. Needs to have good relationship including good rapport with his/her existing and prospective clients General awareness about
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settlement • Reinsurance • Investments Copyright © 2011 Pearson Prentice Hall. All rights reserved. 6-1 Rating and Ratemaking • Ratemaking refers to the pricing of insurance and the calculation of insurance premiums – A rate is the price per unit of insurance – An exposure unit is the unit of measurement used in insurance pricing premium = rate * exposure units – Total premiums charged must be adequate for paying all claims and expenses during the policy period – Rates and premiums
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Life Insurance Advertisements: Need to Address Core Benefit Chirag Malik Apeejay School of Management‚ Dwarka‚ New Delhi chiragmalik@yahoo.com Abstract Purpose – Purpose of this paper is to study the Indian contemporary life insurance advertisements and address the issue of its core benefit i.e. death cover and shake the category from its reverie by some straight talk about the need of insurance. Design/methodology/approach – This is achieved by examining a sample of life insurance advertisements
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SWOT ANALYSIS IDBI Federal Life Insurance Co Ltd Company Profile IDBI Federal Life Insurance Co Ltd is a joint-venture of IDBI Bank‚ India’s premier development and commercial bank‚ Federal Bank‚ one of India’s leading private sector banks and Ageas‚ a multinational insurance giant based out of Europe. In this venture‚ IDBI Bank owns 48% equity while Federal Bank and Ageas own 26% equity each. Having started in March 2008‚ in just five months of inception‚ IDBI Federal became one of the fastest
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References: Feldman‚ R.S. (2011). Discovering the Life Span (2nd edition). Upper Saddle River‚ New Jersey: Pearson Publishing. Manis‚ F. Buckner‚ J. (n.d.) Retrieved October 6‚ 2012‚ from myvirtuallife.com.
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solution - insurance and to provide with the knowledge of this insurance benefits to the customers‚ the Financial Consultant plays an important role in this field. To overcome these risks and uncertainties this project describes about various Insurance companies. How these companies provide benefits to policy holders is well explained by the Financial Consultant. Now days a lot is being done to create awareness among the insuring Public about the need and importance of insurance in the
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