Micro-insurance and its Role in Poverty Alleviation: A Study with Reference to a Private Insurance Company in Assam

2014 ◽  
Vol 1 (2) ◽  
Author(s):  
Dipankar Baidya
Keyword(s):  
Risk Management ◽  
Private Insurance ◽  
Insurance Company ◽  
Asset Accumulation ◽  
Life Insurance Company ◽  
The Poor ◽  
Private Insurance Company ◽  
Micro Insurance ◽  
Economic Developments ◽  
The Impact

Microfinance phenomenon is one of the most remarkable socio-economic developments of our times. In this context, micro insurance is emerging as a prepaid financing option for the risks facing the poor. Earlier, insurance as a prepaid risk managing instrument was never considered as an option for the poor. Often they were considered uninsurable, given the wide variety of risks they face. To combat these risks, the poor used to do pro-active risk management such as grain storage, savings and asset accumulation. However, these forms of risk management which were appropriate earlier are no longer adequate. Micro-insurance should, therefore, provide greater economic and psychological security to the poor by reducing exposure to multiple risks and cushioning the impact of a disaster. In this reference, we look at the functioning of a private insurance company, ICICI Prudential Life Insurance Company in giving support to micro-insurance in Assam. ICICI Prudential has selected tea tribes of Assam as the target group to launch their Micro-insurance product.

scholarly journals A STUDY ON PREFERENCE OF POLICYHOLDERS ABOUT PUBLIC AND PRIVATE LIFE INSURANCE COMPANIES IN TIRUNELVELI DISTRICT

2018 ◽  
Vol 6 (4) ◽  
pp. 105-110
Author(s):  
I. Meenakshi
Keyword(s):  
Public Sector ◽  
Life Insurance ◽  
Private Insurance ◽  
Marketing Strategies ◽  
Private Life ◽  
Insurance Companies ◽  
Insurance Company ◽  
Life Insurance Company ◽  
Public And Private ◽  
New Policies

There are currently, a total of 24 life insurance companies in India. Of these, Life Insurance Corporation of India (LIC) is the only public sector insurance company. All others are private insurance companies. The Life Insurance Corporation of India (LIC) is the largest life insurance company in India and also the country's largest investor. More and more new private insurance companies are coming up year after year. And, these new and private life insurance companies adopt aggressive marketing strategies to introduce their products and to tap the potential policyholders. It is witnessed that new policies like ULIPs are introduced by these new private life insurance companies. It is in this concept this study has been undertaken to assess and analyze the preference of policyholders towards insurance services offered by public and private life insurance companies in Tirunelveli district.

How to Support Clients and Vendors in IT Outsourcing Engagements: The Different Roles of Third-party Advisory Services

2018 ◽  
Vol 8 (2) ◽  
pp. 184-191
Author(s):  
Turgut Erdogmus ◽  
Marcel Czermak ◽  
Devin Baumsteiger ◽  
Daniel Kohn ◽  
Annalena Boller-Hoffecker ◽  
...  
Keyword(s):  
Service Provider ◽  
Private Insurance ◽  
Third Party ◽  
Insurance Company ◽  
Joint Development ◽  
Innovative Solutions ◽  
Private Insurance Company ◽  
And Performance ◽  
It Workplace ◽  
External Partner

The outsourcing of information technology to external providers has been a phenomenon for organizations around the world since decades. The main reasons for this trend are, for example, cost reductions through scaling, the temporary inclusion of specific skills in the own organization as well as the joint development of innovative solutions with an external partner. The client organization “RetBa,” a major private insurance company, was facing serious quality and performance issues in the delivery of the workplace services. Hence, in 2005 they decided for an outsourcing solution aiming at moving the responsibility for managing IT workplace services for over 50,000 seats worldwide to the external service provider “EuTu.” Over the years, the outsourcing project faced several problems due to the lack of performance and delayed delivery of services by the service provider EuTu. To solve these quality issues and avoid further failures, in 2011 RetBa appointed Scaleit Consulting, a third-party advisor. Scaleit Consulting had the responsibility to identify the causes for these issues, revise the workplace strategy, and support RetBa in the communication with the service provider.

scholarly journals Assessing trends in insured losses from floods in Spain 1971–2008

2012 ◽  
Vol 12 (5) ◽  
pp. 1723-1729 ◽  
Author(s):  
J. I. Barredo ◽  
D. Saurí ◽  
M. C. Llasat
Keyword(s):  
Natural Disasters ◽  
Private Insurance ◽  
Time History ◽  
Public Institution ◽  
Economic Losses ◽  
Insurance Company ◽  
Time Data ◽  
Private Insurance Company ◽  
Insured Losses ◽  
Scientific Scholarship

Abstract. Economic impacts from floods have been increasing over recent decades, a fact often attributed to a changing climate. On the other hand, there is now a significant body of scientific scholarship all pointing towards increasing concentrations and values of assets as the principle cause of the increasing cost of natural disasters. This holds true for a variety of perils and across different jurisdictions. With this in mind, this paper examines the time history of insured losses from floods in Spain between 1971 and 2008. It assesses whether any discernible residual signal remains after adjusting the data for the increase in the number and value of insured assets over this period of time. Data on insured losses from floods were sourced from Consorcio de Compensación de Seguros (CCS). Although a public institution, CCS compensates homeowners for the damage produced by floods, and thus plays a role similar to that of a private insurance company. Insured losses were adjusted using two proxy measures: first, changes in the total amount of annual surcharges (premiums) paid by customers to CCS, and secondly, changes in the total value of dwellings per year. The adjusted data reveals no significant trend over the period 1971–2008 and serves again to confirm that at this juncture, societal influences remain the prime factors driving insured and economic losses from natural disasters.

scholarly journals IMPLEMENTATION OF GOOD CORPORATE GOVERNANCE AT PT AXA MANDIRI FINANCIAL SERVICES

2020 ◽  
Vol 1 (5) ◽  
pp. 815-828
Author(s):  
Hudriatul Hotimah
Keyword(s):  
Risk Management ◽  
Corporate Governance ◽  
Internal Control ◽  
Financial Services ◽  
Business Processes ◽  
Joint Venture ◽  
Added Value ◽  
Insurance Company ◽  
Life Insurance Company ◽  
Good Corporate Governance

Good Corporate Governance (GCG) is a system that organizes and controls a company so that it can form added value for all stakeholders. This study aims to determine the application of GCG at PT AXA Mandiri Financial Services (AMFS) which is a joint venture Conventional Life Insurance company between PT Bank Mandiri (Persero) Tbk and National Mutual International Pty. Limited (AXA). The research method used is descriptive qualitative. The results of this study indicate that PT AMFS has implemented GCG in an integrated manner in all business processes. This is evidenced by the transformation in 10 line areas, namely digital services, distribution, health and protection, human resources and culture, information technology systems, data, efficiency, customer experience, and offers (documents and products). PT AMFS also applies the Three Lines of Defense principle to an internal control system that is integrated with risk management. The main line of defense is the directors and all employees of PT AMFS. Second, risk management, compliance and law. Third, internal and external audit.

scholarly journals The Utility of Zero-Inflated Models in the Estimation of the Number of Accidents in the Automobile Insurance Industry

Equilibrium ◽  
2010 ◽  
Vol 5 (2) ◽  
pp. 181-194
Author(s):  
Marija Del Carmen Melgar ◽  
Jose Antonio Ordaz
Keyword(s):  
Insurance Industry ◽  
Empirical Studies ◽  
Private Insurance ◽  
Positive Association ◽  
Insurance Companies ◽  
Automobile Insurance ◽  
Insurance Company ◽  
Count Data Models ◽  
Automobile Accidents ◽  
Private Insurance Company

The main purpose of the present paper is to provide an econometric model which estimates the number of automobile accidents that policyholders declare to their insurance companies, pointing out those variables that are significant in this process. Our empirical analysis is based on the data supplied by a private insurance company that operates in Spain, and on the zero-inflated count data models as methodology. We find a positive association between the levels of coverage and the accident rates, suggesting the existence of problems related to adverse selection and moral hazard. This result is one of the most important conclusions of our work and confirms the theoretical aspects pointed up by other empirical studies in the literature. Additionally, estimating the number of policyholders that suffered any accident but not declared, and how many these non-declared accidents are, could be very useful information for insurers to evaluate their risk planning. Our model attempts to reach this target as well.

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