This document discusses life insurance in India. It notes that LIC dominates the life insurance industry with over $310 billion in assets, while the total size of the insurance industry is $400 billion. It outlines that there are now 23 private sector life insurance companies competing with LIC. The document also discusses some challenges for LIC, such as prioritizing policyholder interests over shareholders if it goes public, which may make it less attractive to investors.
Our Autumn Newsletter gives an overview of choices ant retirment and SIPPs. We look at investing in Solar Power and ask Who will look after you in old age?
It pays to do good: How ESG investments can create more value for your businessRenoir Consulting
Why are #ESG investments now worth over US$35 trillion?
Because businesses now realise that ESG investments directly tie to a company's financial performance — and long-term success.
Discover the 4 reasons why it pays to #BeBold and do good.
#BusinessTransformation #ManagementConsulting
These are personal views about saving, investments and organisation managed by Government of India. These views are influenced by fundamental principles of financial planning. These views are not recommendations.
PM Gati Shakti master plan
Inclusive development
Productivity enhancement
Sunrise opportunities
Energy Transition
Climate Action
Financing of Investments
INFLATION
FISCAL DEFICIT
Our Autumn Newsletter gives an overview of choices ant retirment and SIPPs. We look at investing in Solar Power and ask Who will look after you in old age?
It pays to do good: How ESG investments can create more value for your businessRenoir Consulting
Why are #ESG investments now worth over US$35 trillion?
Because businesses now realise that ESG investments directly tie to a company's financial performance — and long-term success.
Discover the 4 reasons why it pays to #BeBold and do good.
#BusinessTransformation #ManagementConsulting
These are personal views about saving, investments and organisation managed by Government of India. These views are influenced by fundamental principles of financial planning. These views are not recommendations.
PM Gati Shakti master plan
Inclusive development
Productivity enhancement
Sunrise opportunities
Energy Transition
Climate Action
Financing of Investments
INFLATION
FISCAL DEFICIT
Corporate Savings: The Secret Weapon in the Quest for TalentThe HR Observer
In terms of lifetime savings, many employers think that fulfilling their end of service gratuity obligations will be enough to attract, motivate and retain key personnel, even when assets are not specifically set-aside for this purpose. During this session Peter looks at whether individuals actually agree with this approach, their view of gratuities and the value placed on them.
Evidence currently shows that individuals are not saving enough for their later life, a problem compounded by the fact that they will be living longer, leaving them with the difficult choice of either saving more or deferring their retirement. Peter explores a way employers can differentiate themselves by adopting a more paternalistic approach to lifetime savings
Peter Cox, Head of International Pension Plan Sales APAC & ME, Zurich
The process of insurance has been evolved to safeguard the interest of people from uncertainty by providing certainty of payment at a given contingency. Insurance companies help to minimize the risk of individual’s life by insuring their property, businesses, future, family etc. MetLife Alico is from those companies. They also provide financial planning, finance, mutual funds, life insurance, and health insurance.
so regarding it here is a report on "Metlife-Alico"
-YEAR For Stock Pickers
-Market Indicators - Check
the important numbers
-Digitization of the Economy was the predominant theme during CY21
and indicators of the
month
Bajaj Allianz life insurance is a collaboration of two companies namely Bajaj auto which is an Indian company with Allianz AG which has headquarter in Germany. Bajaj life insurance offers numerous policies each having different yet overall benefits for the individuals according to their needs.Allianz life insurance apart from taking care of future investment options for the individual and his family provides for traditional insurance policies Bajaj Allianz life insurance policy is a level term cover up policy which provides maximum health and family safety of the assured.
EVmo, Inc. bridges the gap between rideshare drivers in need of a suitable vehicle and rideshare companies that depend on attracting and keeping drivers. EVmo uniquely supports drivers in both the higher and lower economic categories with innovative policies and programs. EVmo is a leading provider of rental vehicles to drivers in the ever-expanding gig economy. EVmo maintains its own fleet of vehicles, which are rented to rideshare/delivery drivers, while providing insurance coverage and insurance cards in the drivers’ names to ensure drivers meet the stringent requirements of rideshare and logistics companies.
I recently returned from the MDRT meeting in Vancouver BC, many of the "big hitters" are using the "Living Benefit" policies because of the "added value" they bring to the client along with "something new and different" to the insurance discussion ( i.e. do you have the "old" insurance or the "new" insurance? etc.) They also mentioned the statistic that 80% of the people will have a Heart, Stroke, or Cancer concerns ( Critical Illness) in their lifetime.
I recently returned from the MDRT meeting in Vancouver BC, many of the "big hitters" are using the "Living Benefit" policies because of the "added value" they bring to the client along with "something new and different" to the insurance discussion ( i.e. do you have the "old" insurance or the "new" insurance? etc.) They also mentioned the statistic that 80% of the people will have a Heart, Stroke, or Cancer concerns ( Critical Illness) in their lifetime.
Insurance valuation in china by daxue consultingDaxue Consulting
With support from Asian Risks Management Services Co. Ltd. (ARMS) we are happy to share our new report on insurance valuation in China.
Overview of the insurance valuation market, insurance valuation allows accurate appraisal of corporate assets’ value through various methods aiming at determining the true replacement cost of insured assets This then allows insurance companies to accurately bill policyholders There are a large number of contributing factors making assets’ net book value unreliable for insurance valuations.
October 2016 Edition of BEACON, A Monthly Newsletter by SIMCON.
Inside this issue:
About Us
Our Team
INDUSTRY ANALYSIS : Insurance
Brand Analysis: Bata
Case Study Analysis: Ola
Concept of the month: Bug Bounty
Guest Lecture by Devang Mehta
This coming renewal will mirror the last with an overall average low single digit general increase across the International Group. While most Clubs have enjoyed a trouble-free year with strong technical underwriting results, there has been no joy from investment income.
The days of heavily relying on investment income are long gone, but this naturally still has an influence on the final results of each year. If last year’s returns were gloomy, then the current position is positively dire with a number of Clubs reporting negative investment returns. Conservative investment programmes following the meltdown of 2008 has negated the volatility, but the pressure caused by the present financial environment will no doubt figure heavily in renewal negotiations.
A digital copy of the Business News 24 (07 October edition). Zimbabwe's premier business news free sheet published by the Zimpapers Newspapers Group (1980) Limited and available every week day from 1530hrs to give a summary of the day's business news.
Corporate Savings: The Secret Weapon in the Quest for TalentThe HR Observer
In terms of lifetime savings, many employers think that fulfilling their end of service gratuity obligations will be enough to attract, motivate and retain key personnel, even when assets are not specifically set-aside for this purpose. During this session Peter looks at whether individuals actually agree with this approach, their view of gratuities and the value placed on them.
Evidence currently shows that individuals are not saving enough for their later life, a problem compounded by the fact that they will be living longer, leaving them with the difficult choice of either saving more or deferring their retirement. Peter explores a way employers can differentiate themselves by adopting a more paternalistic approach to lifetime savings
Peter Cox, Head of International Pension Plan Sales APAC & ME, Zurich
The process of insurance has been evolved to safeguard the interest of people from uncertainty by providing certainty of payment at a given contingency. Insurance companies help to minimize the risk of individual’s life by insuring their property, businesses, future, family etc. MetLife Alico is from those companies. They also provide financial planning, finance, mutual funds, life insurance, and health insurance.
so regarding it here is a report on "Metlife-Alico"
-YEAR For Stock Pickers
-Market Indicators - Check
the important numbers
-Digitization of the Economy was the predominant theme during CY21
and indicators of the
month
Bajaj Allianz life insurance is a collaboration of two companies namely Bajaj auto which is an Indian company with Allianz AG which has headquarter in Germany. Bajaj life insurance offers numerous policies each having different yet overall benefits for the individuals according to their needs.Allianz life insurance apart from taking care of future investment options for the individual and his family provides for traditional insurance policies Bajaj Allianz life insurance policy is a level term cover up policy which provides maximum health and family safety of the assured.
EVmo, Inc. bridges the gap between rideshare drivers in need of a suitable vehicle and rideshare companies that depend on attracting and keeping drivers. EVmo uniquely supports drivers in both the higher and lower economic categories with innovative policies and programs. EVmo is a leading provider of rental vehicles to drivers in the ever-expanding gig economy. EVmo maintains its own fleet of vehicles, which are rented to rideshare/delivery drivers, while providing insurance coverage and insurance cards in the drivers’ names to ensure drivers meet the stringent requirements of rideshare and logistics companies.
I recently returned from the MDRT meeting in Vancouver BC, many of the "big hitters" are using the "Living Benefit" policies because of the "added value" they bring to the client along with "something new and different" to the insurance discussion ( i.e. do you have the "old" insurance or the "new" insurance? etc.) They also mentioned the statistic that 80% of the people will have a Heart, Stroke, or Cancer concerns ( Critical Illness) in their lifetime.
I recently returned from the MDRT meeting in Vancouver BC, many of the "big hitters" are using the "Living Benefit" policies because of the "added value" they bring to the client along with "something new and different" to the insurance discussion ( i.e. do you have the "old" insurance or the "new" insurance? etc.) They also mentioned the statistic that 80% of the people will have a Heart, Stroke, or Cancer concerns ( Critical Illness) in their lifetime.
Insurance valuation in china by daxue consultingDaxue Consulting
With support from Asian Risks Management Services Co. Ltd. (ARMS) we are happy to share our new report on insurance valuation in China.
Overview of the insurance valuation market, insurance valuation allows accurate appraisal of corporate assets’ value through various methods aiming at determining the true replacement cost of insured assets This then allows insurance companies to accurately bill policyholders There are a large number of contributing factors making assets’ net book value unreliable for insurance valuations.
October 2016 Edition of BEACON, A Monthly Newsletter by SIMCON.
Inside this issue:
About Us
Our Team
INDUSTRY ANALYSIS : Insurance
Brand Analysis: Bata
Case Study Analysis: Ola
Concept of the month: Bug Bounty
Guest Lecture by Devang Mehta
This coming renewal will mirror the last with an overall average low single digit general increase across the International Group. While most Clubs have enjoyed a trouble-free year with strong technical underwriting results, there has been no joy from investment income.
The days of heavily relying on investment income are long gone, but this naturally still has an influence on the final results of each year. If last year’s returns were gloomy, then the current position is positively dire with a number of Clubs reporting negative investment returns. Conservative investment programmes following the meltdown of 2008 has negated the volatility, but the pressure caused by the present financial environment will no doubt figure heavily in renewal negotiations.
A digital copy of the Business News 24 (07 October edition). Zimbabwe's premier business news free sheet published by the Zimpapers Newspapers Group (1980) Limited and available every week day from 1530hrs to give a summary of the day's business news.
ITShades.com has been founded with
singular aim of engaging and
enabling the best and brightest of
businesses, professionals and
students with opportunities,
learnings, best practices,
collaboration and innovation from IT
industry.
This document brings together a set
of latest data points and publicly
available information relevant for
Insurance Industry. We are very
excited to share this content and
believe that readers will benefit from
this periodic publication immensely.
CII-EY report titled Insurer of the Future reveals that technology will power the new wave of change for the Indian Insurance Industry. The report recommends pursuing technology to improve the traditional insurance process and to re-configure the insurance business model.
A PROJECT REPORT ON RISK ANALYSIS AND RISK MANAGEMENT IN INVESTING IN INSUR...Abhishek Raj
The project has been undertaken to know about different types of risk that can covered by insurance policies and how to analyse and mange those risks as there are various types of risk that a person can suffers in his life term.
The project talks about what are the various things that customer should consider before buying an insurance policy and various steps that need to consider before buying it.
The present book is a great step in forward direction of Indian Insurance sector ; and I have no doubt that after studying this book in detail and getting through the examination successfully, the insurance agent will gain substantially in accomplishing the tasks that are assigned to him or her. I would keenly look forward to its huge success in the Indian insurance domain in the days to come.
July 2015 Edition of BEACON, A Monthly Newsletter by SIMCON.
Inside this issue:
About Us
Our Team
INDUSTRY ANALYSIS : Insurance Industry
COMPANY ANALYSIS : Reliance - General & Life Insurance
BRAND ANALYSIS : Walt Disney
Concept of the month: Rule of 3 and 4
MTBiz is for you if you are looking for contemporary information on business, economy and especially on banking industry of Bangladesh. You would also find periodical information on Global Economy and Commodity Markets.
Managing Credit Risk in Uncertain TimesWoon Wee Chun
I have contributed an article titled 'Managing Credit Risk in Uncertain Times' and it has been published in the Jan/Feb 2017 edition of Entrepreneurs' Digest, a bi-monthly magazine published by the Association of Small & Medium Enterprises (Singapore). It talks about the role and importance of Trade Credit Insurance (TCI) in today's ever complex business environment. Through it, I hope it will raise the market awareness among SME owners.
Constant innovation is the need of the hour and this issue of Newstrack talks about the same. Bajaj Allianz has taken several steps to keep pace with the growing demands of today’s customers. This issue of NEWSTRACK will take you through such product and service innovations over the years
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Best Catering Event Planner Miso-Hungry.pptxMiso Hungry
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2. Hey, You look busy in
deep thoughts !
What happened ?
3. Hey, You look busy in
deep thoughts !
What happened ?
4. Nothing much, just
got Diwali bonus and
planning where to
employee that
money!
I suggest you to
take a LIFE
INSURANCE POLIY
. It has some great
benefits !
5. BENEFITS
• It replaces your lost income once you are gone and creates the
much needed financial security
SAFETY NET FOR LOVED
ONES
• You can get a regular stream of income every monthACHIEVING RETIREMENT
GOAL
• Deductions to income is available u/s 80C of income tax act ,
benefits upto 1.5 lacsTAX BENEFITS
• Lower premium , more benefits
EARLIER THE CHEAPER
• Death is inevitable and the least you can do to secure the financial
future is subscribing to insurance policyPEACE OF MIND
6. Also can you help me
out with things to
consider for making
the right choice!
Ya sure , why not !
7. Number 1: Calculate how much term
insurance coverage you need:
Estimate your
dependent
family’s monthly
expenses and
multiply it with
150.
Liabilities on the
account of home
loan, personal
loan, credit card
bills.
Liquid assets you
already have in
the form of FDs,
stocks or mutual
funds.
Expenses planned
on the account of
important life goals
that are likely to
happen in the next
15 years. Like your
children’s higher
studies or their
marriage.
Retirement corpus
that you would
want to leave for
your spouse on
his or her
retirement.
9. Number 3: Target
the highest
Peace-of-Mind
per rupee
premium:
• It is important for you to be happy
with your decision about the
insurance plan you have picked,
which would be a combination of
the premium you pay and your
perception about your insurance
provider.
10. CHOOSE YOUR ADD-ONS WISELY
Waiver of
premium on
disability/
crtical
illness
Additional
cover for
death due
to accident
Cover for
critical
illness
NUMBER
4:
11. Can you tell the
earning mechanism? Ya sure , why not !
12.
13. 01
02
03
08
09
10
04
05
06
07
W H O
S H O U L D
B U Y ?
• EARNING
MEMBER
• HAS
DEPENDENTS
A G E
C O V E R
H O W
M U C H T O
C O V E R
ANNUAL SALARY x
20 TIMES
A m o u n t
s e t t l e m e n t
r a t i o
W h e r e t o
b u y
R e a s o n s
w h y
c l a i m s a r e
r e j e c t e d
W H E N T O
T A K E ?
T E R M P L A N V S
E N D O W N M E N T
P L A N
R I D E R S
C L A I M
S E T T L E M E N T
R A T I O
Factors to
be considered
Before
buying LIFE
insurance
14. 0
1
02
03
04
05 06
07
W H I C H P L A N
• Floater or Individual
• When to buy
• Amount to be insured
N O C L A I M
B O N U S
C L A I M
S E T T L E M E N T
R A T I O
G E O G R A P H I C A L
L O C A T I O N
P R E P O S T
H O S P I T A L I Z A T I O N
E X P E N S E S
W A R D L I M I T
D I S E A S E
C O V E R A G E
How to choose health insurance?
15. 2
B
6T E R M
P L A N
LET’S BREAK THE CONVENTIONAL MINDSET
H E A D I N
G
Some text goes
here.Some text goes
here. Some text
goes here.
A
6
E N D O W
M E N T
P L A N
1s t Year
Premium Outflow
3r d Year
Premium Outflow
5t h Year
INFLOW
4t h Year
Premium Outflow
2n d Year
Premium Outflow
1s t Year
Premium Outflow
3r d Year
Premium Outflow
5t h Year
No Inflow
4t h Year
Premium Outflow
2n d Year
Premium Outflow
16. BUYING LIFE COVER
The purpose of
buying pure life
insurance is to secure
the finances of your
dependents if you
were to die. It is not
an investment vehicle
to get returns
DECISION
Buying a term plan
CALCULATION
For a 30 year old non smoker
Sum Assured Term (Premium)
Rs 1 crore 10 years
Annual Premium Tenure
Rs 12,258 20 years
Invest in Equity (MF, ETFs)
Rs 7.22 crore
DECISION (HDFC's Classic Assure Plus
Plan)
Buying a endowment plan
CALCULATION
For a 30 year old non smoker
Sum Assured Term (Premium)
Rs 1 crore 10 years
Annual Premium Tenure
Rs 12,13,977 20 years
FV (including bonus)
Rs 3.22 crore
30. GLOBALISATION IN INSURANCE SECTOR
•Globalization is defined as a process by which goods, services, capital, people, information,
and ideas flow across national borders.” (Grewal/Levy)
•It is the opening of local and nationalistic perspective to a broader outlook of an interconnected
and interdependent world with free transfer of capital, goods, and services across national
frontier.
•Thriving insurance sector is of vital importance to every modern economy. The nature of the
insurance business is such that the cash inflow of insurance companies is constant while the
payout is deferred and contingency related.
•This characteristic feature of their business makes insurance companies the biggest investors
in long gestation infrastructure development projects in all developed and aspiring nations. This
is the most compelling reason why private sector (and foreign) companies, which will spread
the insurance habit in the societal and consumer interest are urgently required in this vital
sector of the economy.
31. BACKGROUNDThe experience after independence in insurance sector showed that the ultimate objective remained
largely unfulfilled due to :
• the relatively low spread of insurance in the Country
•Inefficient functioning of the public sector insurance companies
• and the untapped potential for mobilizing long term financial resources to finance the growth of
infrastructure
So, the government set up an Insurance returns Committee in April, 1993 under the chairmanship of
R. N. Malhotra, to suggest reforms in the insurance sector including improving the functioning of the
LIC, GIC and strengthening the regulatory system.
The committee submitted its report to union finance minister on 7-01-1994, recommending a phased
program of liberalization and called for a private sector entry and restructuring of LIC and GIC.
On the basis of their recommendation, IRDA was established in 1999 & private sector entry was
permitted in October 2000.
32. WHY FOREIGN INSURANCE CO. IN THIS SECTOR
.
• Motives behind
the movement of
foreign insurance
companies.
PUSH
FACTORS
• Motive behind
allowing the
foreign companies
to operate in local
market.
PULL
FACTORS
Globalization of Insurance market, as a part of the overall process of liberalization in
emerging and other countries enabled the foreign insurance companies to enter in those
countries and benefited both.
Driving forces of insurance market globalisation are categorised as-:
ECONOMIES OF SCALE
POTENTIAL FUTURE GROWTH IN
EMERGING MARKETS
INCREASING GLOBAL TRADE
SUNSTANTIAL REQUIREMENT OF CAPITAL
INCREASE IN EFFICIENCY IN THIS SECTOR
IMPROVE QUALITY OF SERVICE
33. BENEFITS TO COUNTRIES ALLOWING
GLOBALIZATION IN THIS SECTOR
Economy related benefits to the local
country:
•Foreign Insurance Companies add further
momentum to mobilization of savings.
•Resources and Capital allocation in the Domestic
Market increases.
•Improves the financial stability in the host country.
•Facilitates improvement in production and Trade
Insurance market related benefits :
Capital structure of entire insurance industry
improves.
• Market efficiency improves due to
information dissemination.
• Management efficiency increases because
foreign companies bring with them global
experience and management innovation.
• Range of available products increases
because foreign companies bring with them a
wide range of products and product
development expertise.
• Increased competition
• Customer' service improves.
Globalization also improves market conduct
and Ethical Business Standard
35. 8 MAJOR TRENDS
HEALTH AT HAND
REAL TIME EXPERTISE
AI& ME
BEYOND BOUNDARIES
NEW WORKING WAYS
COVID-19 CRISIS RESPONSE
COMMERCIAL LINE TRANSFORMATION
MERGERS & ACQUISITIONS
36. Health at Hand
The life insurance companies are changing their value propositions away from mortality protection and
redesigning their offerings.
Customers are willing to share their personal data(derived from IoT wearables) in return for clear benefits-
financial and health outcomes and reduced premium payments.
Covid-19 Crisis Response
Many insurance companies are focusing on helping their customers to navigate
the impact of the crisis on their lives or business.
PZU(Poland) came up with its lifeband- a wearable device that reduces the risk
of transferring COVID-19
37. Real Time Expertise
The pandemic has forced the insurance sector to reevaluate how employees deliver relevant customer
experiences and they will seek offerings that are more personalized, real-time, relevant and seamless
Examples include open peril policy; Using KYC technology for real time and low cost customer onboarding.
AI & Me
Insurance companies are adopting AI tools and practices to speed up the
automation of basic tasks in existing workflows.
38.
39. Beyond Boundaries
The insurance companies are and must look forward to today’s ecosystem driven digital economy to access
new customer pools, create new revenue streams and embed their brands deeper into their customer’s
everyday life.
New Working Ways
The workforce of the insurance organisations need to be brought along in the
digital journey to successfully transform the insurance business to elevate
their workforce to greater efficiency, effectiveness and better levels of
performance through automation, AI, extended reality and more.
40.
41. Commercial Line Transformation
Commercial Insurance is going through a transformation as there is more innovative offerings in
terms of better risk management using digital channels for service and distribution and providing
the commercial customers a more transparent and seamless experience.
In a highly competitive environment, incumbent firms can no longer rely
on organic growth or internal innovation. The winners will be those that
can forge alliances with innovative start-ups; ally with InsurTech; and
consolidate with their peers. A rapidly changing industry will require
unprecedented dealmaking skills.
Mergers & Acquisitions
44. Pathway to Growth
● ANALYSE the markets (geographical, product and demographic) in which they compete and determine
the path to profitable growth.
● EVALUATE the entire customer value chain for better personalised experience.
● REIMAGINING product design through the lens of challenging interest rates and regulations.
● OPTIMISE in-force to enhance value creation and greater adaptability of resources to new opportunities
● INVEST in the future of work and reskilling efforts to ensure preparedness for the decade ahead.