COVER STORY
The Art of ART - - Jayshree Bose
Insurers can no longer fall back on reinsurance as a risk transfer mechanism without batting an eyelid. Todays questions are: Reinsurance or CAT bonds? Retention or forward commitments? Ex ante or ex post debt or equity? Insurers today have a set of options before them in different stages of development, and replete with their pros and cons, to consider and decide which risk financing or Alternative Risk Transfer (ART) route to take. The decisions are based on a combination of in-house and catastrophe model risk estimations.
© 2006 IUP . All Rights Reserved
BUSINESS ENVIRONMENT
A Hard Look at Soft Fraud
- - Kevin M Bingham, John Lucker and Mo Masud
Its not only the criminal masterminds who cost insurers millions of dollars in fraudulent claims. What about those ordinary folks who see nothing wrong with cheating the insurance companyjust a little?
© 2006 American Academy of Actuaries. Reprinted with permission.
LIFE INSURANCE
LIC: New Business Lacks Vigor - - Bh Venkateswara Rao
The success of insurance companies to a large extent depends upon the growth and development of new business and LIC is no exception. After the liberalization of the insurance sector in 1999, the new business performance of the LIC came under a cloud. Though LIC retained its leadership, its market share in terms of new business premium income declined to a low of 78.07%. In view of this, an attempt is made in the article to assess the new business performance of LIC.
© 2006 IUP . All Rights Reserved
LIFE INSURANCE
Necessity: The Mother of Invention - - Michael J Moody
Life insurers use securitization to meet increased reserve requirements.
© 2006 The Rough Notes Company. Reprinted with permission.The article first appeared in The Rough Notes, April 2006.
INSURANCE MARKETING
A Study on Advisors Profile - - SS Mandal
Insurance being a service with high intangibility, the role of intermediaries becomes necessary and important. Insurance products are also complex and requires proper explanation. In India, retail distribution is very strong and is done by individual agents/advisors.
© 2006 IUP . All Rights Reserved.
INSURANCE MARKETING
Boom, Baby Boom - 78 Million - - Joe Navarro
Advertising should speak about the product from the Boomers perspective, talk about quality of life and well-being, and provide answers to the multitude of questions the next life stage holds for them.
© 2006 Wells Publishing Inc. (www.insurancejournal.com). Reprinted with permission.
UNDERWRITING MANAGEMENT
Emerging Environmental Risks Pose Problems for Underwriters
- - Stephanie K Jones
Exposures such as C-8, nanotechnology and welding rod fumes are some potentially widespread risks that insurers and their underwriters should be looking at with a careful eye.
© 2006 Wells Publishing Inc. (www.insurancejournal.com). Reprinted with permission.
RISK & INSURANCE
Gambling on Risk - - Michelle Hannen
Some recent events have stretched the industry to the limit but the sector is still doing a good job of insuring the uninsurable.
© 2006 Chartered Insurance Institute (www.cii.co.uk). Reprinted with permission.
RISK & INSURANCE
Title Insurance: A Home Owners Assurance - - Phil Zinkewicz
Title insurance is a vital step in buying a home.
© 2006 The Rough Notes Company. Reprinted with permission. The article first appeared in The Rough Notes, March 2006.
BUSINESS STRATEGY
Balanced Scorecard of the Insurance Industry - - Samuel B Sekar
Balanced scorecard is a performance measurement system which is widely used across various industries. This article discusses about the potential application of balanced scorecard in controlling, improving and enhancing performance of insurance companies.
© 2006 IUP . All Rights Reserved
COUNTRY PROFILE
Profile on Australia - Australia General Insurance: Managing Sustainability
Australias general insurance market is thriving. However, the industry has to do better in demonstrating its strategic value to clients by identifying key business drivers and determining how to look onto these drivers to help support clients achieve their goals.
© 2006 Asia Insurance Review (www.asiainsurancereview). Reprinted with permission.
SPOTLIGHT
Bajaj Allianz Life Insurance Company Limited - - Indu Prasad
Bajaj Allianz Life Insurance Co. Ltd. (BALICL) is a joint venture between worlds two leading conglomeratesAllianz AG and Bajaj Auto Limited. Allianz group was founded in 1890 in Berlin and is one of the leading providers of insurance and asset management products and services worldwide. Allianz has multi-local structure and is present in over 70 countries, employs about 174,000 employees and has over 60 million customers. Bajaj Auto Ltd. is the flagship company of Bajaj Group which was incorporated in the year 1945 as Bachraj Trading Corporation. It is one of Indias largest two and three-wheeler manufacturer and the fourth largest manufacturer of two-wheelers in the world, with an annual turnover of Rs. 42.16 bn. Characterized by global presence with a local focus and driven by customer orientation to establish high earnings potential and financial strength, BALICL was incorporated on March 12, 2001. The company received IRDA approval in August 2001 to conduct life insurance business in India.
© 2006 IUP . All Rights Reserved
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