Read e-book online Indian Life and Health Insurance Industry: A Marketing PDF

By Novi Dewan (auth.)

ISBN-10: 3834909467

ISBN-13: 9783834909466

ISBN-10: 3834997889

ISBN-13: 9783834997883

Due to its gigantic inhabitants, sound monetary basics, dynamic advancements within the coverage regulatory framework and an expanding knowledge among Indians concerning the relevance of insurances, India deals large possibilities for marketplace access and growth within the assurance undefined.

"The ebook finds insightful principles concerning the Indian coverage besides a dialogue at the most sensible practices of the selling combine. Novi's notable thesis, which varieties the root of this booklet, brought on me to give a contribution to her learn with an India viewpoint. i'm yes that this publication should be an incredible reference fabric for rising markets with related development dynamics."

Trevor Bull,
dealing with Director
Tata AIG existence coverage corporation Ltd.

“The research offered sticks out by way of being according to a radical knowing of India and the existence and medical insurance investigated.”

Professor Dr. Martin Fassnacht
affiliate Dean and Endowed Chair of Marketing
WHU – Otto Beisheim university of Management

“Only only a few insurance firms fairly keep on with a powerful market-driven process. I give some thought to this e-book a must-read for coverage executives, not just if you happen to have an interest within the Indian industry yet for all of these who are looking to instil extra market-orientation into their organisations.”

Dr. Dirk Schmidt-Gallas
associate and worldwide Head of coverage
Simon-Kucher & Partners

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Additional resources for Indian Life and Health Insurance Industry: A Marketing Approach

Example text

11. Regulating investment of funds by the insurance companies. Please see the illustrations below; they depict the investment regulations for life and non-life insurance businesses. 12. Regulating maintenance of margin of solvency. Every insurer is required to maintain a certain solvency margin. Solvency margin is defined as the excess of assets over liabilities; the main purpose of which is to ensure that insurers have sufficient financial muscle especially in a service like insurance, where costs cannot be pre-accounted for, implying costs are realized after the price/premium has already been paid for, making the business highly susceptible to uncertainty.

The primary effects of the tariffed regime were – Cross subsidization: Profitable businesses like fire and motor which were tariffed paid for un-profitable businesses of a company like health and marine cargo insurance (which were non-tariffed), thus making these (health and marine cargo insurance) available to customers at throw away prices. The profitable businesses, thus cross-subsidized the unprofitable businesses. This is also the core reason for the absence of any standalone health insurance company until 2006, because such an insurer would not be able to compete with the general insurers, for whom health insurance was one of the businesses that could be easily subsidized despite exorbitant claim-to-premium ratios at 130%.

50 million. 8. Calling for information from, undertaking inspection of, conducting enquiries and investigations including audit of the insurers, intermediaries, insurance intermediaries and other organizations connected with the insurance business. 30 1 Insurance Industry in India 9. The de-tariffing of the general insurance business and file and use guidelines prescribed by the IRDA to best deal with de-tariffing; setting up an agenda for insurers to permit a desired switch, in order to smoothly transit from a tariffed regime which called for no underwriting skills to a regime where prices need to be set based on prudent risk assessment and underwriting.

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Indian Life and Health Insurance Industry: A Marketing Approach by Novi Dewan (auth.)

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