COVER STORY
Underwriting Efficacies in Nascent Markets -- U Jawaharlal
Insurers are looking for more modern and challenging forms of decision-making in order to accomplish higher scales of business. However, in an industry like insurance, such leverages would ensure total success if both the parties are totaly aware of the business ethics and rules. In nascent markets, the policyholder's acumen with regard to the basic concepts of insurance should be increased if such modern techniques are to be successful.
© 2005 IUP. All Rights Reserved
RISK MANAGEMENT
A Case for Usage of Derivatives in Insurance -- Anant Sardeshmukh
Risk is inherent in the insurance business. Although insurance companies assume the risk of their customers or clients, risk is a fact of their business too. Assuming and managing risk is as important to an insurer as it is for other businesses.
© 2005 IUP. All Rights Reserved
TECHNOLOGY
Technology: Creating Merit for the Insurer -- Karuna B
Using technology is definitely not new for insurers. Players are no longer resistant to the idea of technology adoption. The matter of concern for them now is the selection of appropriate technological solutions. With the existence of umpteen solutions promising almost everything that the insurer requires and even more than that, the insurer has to show prudence in adopting technologies that offer solutions to their businesses. Insurers have to be well aware of the perils that they will be exposed to by investing in inefficient technologies. This article examines the touch points between the insurer's value chain and technological applications and details how the business operations can be executed in a cost-effective manner using these applications.
© 2005 IUP. All Rights Reserved
TECHNOLOGY
Managing Stakeholder Value -- Rumeer Shah
The ability to innovate by way of distribution and management and through the use of technology will distinguish `the winners' of tomorrow in today's ever expanding and highly competitive global insurance marketplace.
© 2005 IUP. All Rights Reserved
CASE STUDY
The Swiss Re -- Sankersan Sarkar
Swiss Re's history shows that it has grown over the years, giving it the competitive edge in reinsurance and risk management. Stretching its wings into reinsurance of property, casualty and industrial risks, the company developed its expertise in the various aspects of life and health reinsurance such as product designing and pricing, underwriting, claims management and administrative reinsurance; and today it represents an entity, which is both economically and socially responsive.
© 2005 IUP. All Rights Reserved
MANAGEMENT
Insurance Agents E&O: Are YOU Properly Covered? -- Michael Kizlinski
With major focus on the customers' needs, when it is time to place one of the most important coverages for their own agency, the insurance agencies come up short of what they would deliver to their customers. Assembling a professional submission, starting early in the marketing process, and taking time to carefully review all options can result in a customized insurance agents' E&O, a specialized coverage.
© 2005 by Wells Publishing, Inc. (www.insurancejournal.com). Reprinted with permission.
INSURANCE MARKETING
Sales Promotion in the Insurance Sector: A Study of LIC
-- J Rajesh C Jampala and Bh Venkateswara Rao
Sales promotions are being increasingly used to influence the purchase behavior of consumers in a desired way. The major reasons for the phenomenal use of sales promotional measures can be attributed to increased competition, declining brand loyalty, consumer's sensitivity to promotional deals, and increased advertising clutter. LIC, having realized its importance has undertaken sales promotion in all its three forms, such as consumer-oriented promotion, trade-oriented promotion and salesforce promotion. In view of its importance in the highly competitive life insurance market, an attempt is made in this article to examine the sales promotional measures of LIC.
© 2005 IUP. All Rights Reserved
RISK & INSURANCE
Tsunami: A Trigger for Insurance -- Vikki Spencer
The devastation wrought by the Indian Ocean tsunami poses a host of dire questions for the government and for insurers here in Canada as they struggle to maintain some footing in what has become a war against Mother Nature.
© 2005 Business Information Group (www.canadianunderwriter.ca). Originally published as `Tsunamis Echoes of the Waves'. Reprinted with permission.
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