14.insurance industry

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14.insurance industry

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

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