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14.insurance industry

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  • 1. INSURANCE INDUSTRYGROUP NO -14
    Made By:
    1. ROMA DAS
    2. SUSHEEL VISHWAKARMA
    3. VIVEK DEBNATH
    4. BUSHRA ZAHEER KHAN
    5. SANTANU SAMANTA
    6. MOHD ARIF
  • 2. DEFINITION
    Insurance is defined as the transfer of the risk of a loss, from one entity to another, in exchange for payment.
    PROFIT = Earned premium+ Investment Income - Incurred loss –
    Underwriting expenses
  • 3. BASIC CONCEPTS
    INSURER
    INSURED / POLICYHOLDER
    PREMIUM
  • 4. HOW INSURANCE PROCESS RUNS??
    Through AGENT (under writer)
    Prospective Client
    Insurance Company
    Descriptive Briefing of the Policies
    Selection of the best suitable scheme
    Occurrence of the unnatural event leading to the payment of insured amount to the Nominee
    Selling of the Policy with the pre decided premium’s rate
    Redemption of the insurance money after maturity of the Policy
  • 5. TYPE OF INSURANCE
  • 6. LIFE INSURANCE
  • 7. GENERAL INSURANCE
  • 8.
  • 9. I R D A
    Insurance Regulatory and Development Authority
    National agency of the Government of India, based in Hyderabad formed by Indian parliament
  • 10. POWERS & FUNCTIONS OF IRDA
    Duty to regulate, promote and ensure orderly growth of the insurance business and re-insurance business.
    Other powers :
    1. Certificate of registration to the Applicant
    2. Protection of the interests
    3. Adjudication of disputes
    4. Specifying the percentage of premium, Specifying the %
    of Life Insurance Business and General Insurance
    Business
  • 11. INDIA ON A GROWTH PLATFORM
  • 12. PLAYER’S PROFILE:LIFE INSURANCE
  • 13. PLAYER’S PROFILE:GENERAL INSURANCE
  • 14. CHALLENGES
  • 15. FUTURE OUTLOOK
  • 16.
  • 17. GROWTH PROSPECTS
  • 18.
  • 19. QUESTIONS??
  • 20. “THANK YOU”

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