COVER STORY
Indian Life Insurance Industry: A Retrospect - - U Jawaharlal
The Indian life insurance market has been a mixed bag of rapid growth in some areas and lagging behind in several others. Rectification of the imbalance has been attempted by liberalizing the industry and opening it up to private participation. While the industry has grown in size, have we accomplished all that was envisaged?
© 2005 IUP. All Rights Reserved
LIFE INSURANCE
Aspects of Assignment - - V N S Pillai
If a problem arises during the course of the policy term, the insured needs to know how to proceed. Assignment is a solution to this problem. Easy-to-use forms enable assignment to be made easily. There are customized forms available for use with any insurance contract which enable a person to transfer an active insurance policy as collateral.
© 2005 IUP. All Rights Reserved
GENERAL INSURANCE
Top Ten Canadian Insurance Crimes of 2004
Hapless victims put up with a lot of inconvenience and misfortune because of the big money involved in insurance fraud and theft. There is a dire need to spread awareness about these crimes and the penalties charged.
© 2004 Insurance Bureau of Canada (www.ibc.ca). Reprinted with permission.
PENSION & ANNUITY
A Question of Faith - - Melanie Wright
What with scandals and falling stock markets, pensions have had a bad press in the past few years.The days of being able to rely completely on the employer for a full retirement pension have gone. These days, the employees have to take on an extra burden to make their retired future as secure as their current living standards.
© The Chartered Insurance Institute, London, 2005 (www.cii.co.uk). Reprinted with permission.
PENSION & ANNUITY
The Pension Messiah - - Christine Seib
Company pension schemes going belly-up and dire market conditions may have contributed to the pension crisis, but the basic problem is, we live longer and work less. Christine Seib investigates who's doing what to stem the pension crisis.
© The Chartered Insurance Institute, London, 2005 (www.cii.co.uk). Reprinted with permission.
BUSINESS ENVIRONMENT
Indian Insurance Industry: Embracing the CRM Philosophy - - V V Gopal
With the entry of private players into the sector, the insurance landscape is witnessing a revolution. This article discusses their impact in the areas of product knowledge dissemination, creating new markets and customer acquisition. The author accentuates the significance of the role of CRM as a vital tool with reference to business expansion and service through intermediaries.
© 2005 IUP. All Rights Reserved
MANAGEMENT
Prepare Now for What Could Be a Hectic Hurricane Season - - Dave Kaiser
Several southeast associations representing hundreds of free insurance agencies and thousands of employees in coastal states are stressing on hurricane insurance. They have implemented their own hurricane awareness plans. The season that weather experts are predicting will be similar to or even worse than that of last year and they are trying to take some measures with regard to insuring against mishaps.
© 2005 Wells Publishing Inc. (www.insurancejournal.com). Reprinted with permission.
INSURANCE OPERATIONS
What Global CEOs Should Be Thinking About - - Kai-Uwe Schanz
Global CEOs are facing some formidable challenges which need some changes. How they are coping with these challenges and focusing beyond the new world forms the crux of this article.
© 2005 Asia Insurance Review (www.asiainsurancereview.com). Reprinted with permission.
RISK & INSURANCE
A Model for Managing Risk in Business Process Outsourcing Liability Problem
- - Pushpender Kumar
This article focuses on the risk factor associated with Business Process Outsourcing (BPO) services in developing countries. This risk arises due to the psychological and other factors associated with employees. This model is suggested to MNCs to minimize risk when outsourcing business to companies in developing countries. From a social point of view, the unemployment rate in America is increasing and the Americans are protesting outsourcing.
© 2005 IUP. All Rights Reserved
REINSURANCE
The Late Notice Defense in Reinsurance - Updated - - Larry P Schiffer
IRMI.com had earlier discussed how different states react to the reinsurer's defense to payment under a reinsurance contract based on the reinsured's failure to promptly notify the reinsurer of the underlying claim. Some states equate late notice on a direct basis with reinsurance and some states do not. Some states require a showing of prejudice and some do not.
© 2005 International Risk Management Institute, Inc. Reproduced with permission of the publisher, International Risk Management Institute, Inc., Dallas, Texas from IRMI.COM. Further reproduction prohibited. Visit www.IRMI.com for free practical and reliable risk and insurance information.
REINSURANCE
Bermuda Reinsurance Market - - AbhishekAgrawal
It is interesting to note that the small island of Bermuda is the seventh largest reinsurance market in the world. This is mainly due to the regulation half a century back that led to the development of the market in Bermuda. The market has developed at a more rapid pace in the last 10-15 years. Many Bermuda-based brokers, insurance and reinsurance companies play an important role in the global market. Bermuda has developed a model that is worth replicating and it makes a good case for study.
© 2005 IUP. All Rights Reserved.
MARINE INSURANCE
Anchors Away: The Coast (Except Southeast) is Clear for Marine Insurance
- - Stephanie K Jones
Insuring pleasure boats is not mandatory and hence how many of them are insured is one's guess. However, financiers and marinas insist that boats and yachts should be insured sufficiently, for obvious reasons. The complications involved with the process of insuring them is what forms the essence of this article.
© 2005 Wells Publishing Inc. (www.insurancejournal.com). Reprinted with permission.
SPOTLIGHT
Northwestern Mutual Financial Network
© 2005 IUP. All Rights Reserved
INTERVIEW
Tariffs have Shackled Non-life Insurance Firms - - Kamesh Goyal
Bajaj Allianz General Insurance Company tops the charts in terms of profitability among private players. Of its net profit of Rs. 47 cr, as much as Rs. 36 cr was on account of underwriting profit, implying that the company has priced its products right and taken good business onto its books. At the same time, its shareholdersBajaj Auto and Allianzcould well be laughing all the way to the bank looking at the company's return on equity quoting at 34%. So what makes this company tick and top the charts repeatedly? Our management philosophy is not to encourage wasteful expenditure, says Kamesh Goyal, CEO of Bajaj Allianz. No secretaries or chauffeurs, Goyal drove down 200 km from Pune on his own to Mumbai. That's what Freny Patel and Rajendra Palande found out when they sat with Goyal across the table. Excerpts:
© Business Standard, July 8, 2005 (www.business-standard.com). Reprinted with permission.
|
