10. AGENTS
• The insurance agent helps in promoting and
selling of insurance products and services to
its customers.
Types:
1) “Captive” or “Exclusive” Insurance Agent
2) Independent Agent
3) Micro Insurance agent
11. Corporate agent
• Corporate agents represent an insurance
company and sell its policies.
• They are engaged in a particular business and
sell insurance policies to their existing
customers based on the situation.
Ex: A travel agent may offer you a travel
insurance policy or a vehicle dealer a motor
insurance policy.
12. BROKER
• A broker is representative of the insured (i.e.
customer) rather than of the insurer, but he is
like an agent in the sense that he gets paid in
the form of commission by the Insurance
company with whom he places the business.
• He can deal with any number of Insurance
companies as opposed to the single company
that an agent can represent
13. FUNCTIONS OF BROKER
• ALWAYS ACT FOR THE CLIENT
• ASSIST THE CLIENT IN IDENTIFYING AND
EVALUATING RISK
CUSTOMISED INTEGRATED RISK SOLUTIION TO
SUIT THE CLIENT’S NEEDS.
• NEGOTIATE WITH UNDERWRITERS, BEST
TERMS TAKING INTO ACCOUNT PRICE,
COVERAGE SCOPE, INSURER SECURITY AND
SERVICE STANDARDS
14. To be contd……
• PROVIDING ADDITIONAL SERVICES SUCH AS
COSULTING RISK MANAGEMENT RISK
MODELLING AND UNINSURED LOSS RECOVERY
• IN INDIA BE CATALYST IN THE DEVELOPMENT
AND INTRODUCTION OF NEW INNOVATIVE
PRODUCT AND SERVICES.
15. SURVEYOR AND LOSS ASSESSOR
• SURVEYOR AND LOSS ASSESSOR ARE THE
SERVICE PROVIDER TO INSURANCE COMPANY
TO CARRY OUT CLAIM SURVEY AND ESTIMATE
THE QUANTUM OF LOSS .
• LICENCE BE GIVEN TO INDIVIDUAL OR FIRMS.
• MOSTLY THE ARE APPOINTED TO ASSESS CLAIM
RELATED TO EIGHT TYPE OF INSURANCE :- FIRE
,MOTOR ,ENGG.,MARINE CARGO,MARINE
HULL,LOSS OF PROFIT,CROP INSURANCE
16. HOW THEY ARE BENIFICIAL TO
COMPANY
• THEY PROVIDE UNBIASED EXPERT OPINION
• HELP IN CLAIM SETTLEMENT
• REDUCE TURN AROUND TIME
17. TPA HEALTH SERVICES
• TPA ACTS AS INTERFACE BETWEEN INSURER
AND INSURED TO FACILITATE HASSLE FREE
SEVICES AT TIME OF HOSPITALIZATION.
• THEY PROVIDE EITHER CASHLESS OR
REIMBURSEMENT FACILITY.
• TPA IS REGULATED BY TPA-HEALTH SERVICES
REGULATION ,2001
• CURRENTLY THERE ARE 31 TPA’S IN INDIA
19. HOW THEY ARE BENEFICIAL
• Faster and focused claims management
• Lower overhead cost and reduced cost of
claim management.
• Improved control over claims outcomes.
• Safeguarding of customer relationships.
• Protection of brand reputation.
• Control of possible frauds by the private
healthcare providers.
20. FUTURE PARTNERS
SELF HELP GROUPS
NON GOVERNMENT ORGANIZATIONS
MICRO FINANCE INSTITUTIONS
POST OFFICES
DIRECT MARKETING VIA IT ENABLED SERVICES