1- Web Hosting Alternatives
Web host is in the business of providing server space, Web services and file
A
maintenance for Web sites controlled by individuals or companies that do not
have their own web server.
1-1 Self-hosting
– Running servers in-house
– Most often used by large companies
1-2 Commerce service providers (CSPs)
– Provide Internet access and Web-hosting services
– Help companies conduct electronic commerce
– Offer Web server management and rent application software
2- Basic Functions of Electronic Commerce Software
Software and hardware products for building sites
– Externally hosted stores with software tools
– Sophisticated electronic commerce software suites
Electronic commerce software needs determined by– Expected enterprise size
– Projected traffic and sales
– Budget
• Consider online store creation costs versus brick and mortar costs
• Consider external or in-house host costs
All electronic commerce solutions must provide:
– Catalog display
– Shopping cart capabilities
– Transaction processing
Larger complex sites may include:
– Software adding features and capabilities to basic commerce tool set
1- Web Hosting Alternatives
Web host is in the business of providing server space, Web services and file
A
maintenance for Web sites controlled by individuals or companies that do not
have their own web server.
1-1 Self-hosting
– Running servers in-house
– Most often used by large companies
1-2 Commerce service providers (CSPs)
– Provide Internet access and Web-hosting services
– Help companies conduct electronic commerce
– Offer Web server management and rent application software
2- Basic Functions of Electronic Commerce Software
Software and hardware products for building sites
– Externally hosted stores with software tools
– Sophisticated electronic commerce software suites
Electronic commerce software needs determined by– Expected enterprise size
– Projected traffic and sales
– Budget
• Consider online store creation costs versus brick and mortar costs
• Consider external or in-house host costs
All electronic commerce solutions must provide:
– Catalog display
– Shopping cart capabilities
– Transaction processing
Larger complex sites may include:
– Software adding features and capabilities to basic commerce tool set
Chapter 6: FINANCIAL OPERATIONS OF I NSURERSMarya Sholevar
1-Liabilities: Loss Reserves
A loss reserve is the estimated cost of settling claims for losses that have already occurred but that have not been paid as of the valuation date . More specifically, the loss reserve is an estimated amount for (1) claims reported and adjusted but not yet paid, (2) claims reported and filed, but not yet adjusted, and (3) claims for losses incurred but not yet reported to the company .
Loss reserves in property and casualty insurance can be classified as case reserves, reserves based on the loss ratio method, and reserves for incurred but not reported claims.
2-Policyholders’ Surplus
Policyholders’ surplus is the difference between an insurance company’s assets and liabilities . It is not calculated directly—it is the “balancing” item on the balance sheet.
If the insurer were to pay all of its liabilities using its assets, the amount remaining would be policyholders’ surplus.
Surplus can be thought of as a cushion that can be drawn upon if liabilities are higher than expected.
Surplus represents the paid-in capital of investors plus retained income from insurance operations and investments over time.
The level of surplus is also an important determinant of the amount of new business that an insurance company can write.
3-Income and Expense Statement
The income and expense statement summarizes revenues received and expenses paid during a specified period of time .
Revenues are cash inflows that the company can claim as income. The two principal sources of revenues for an insurance company are premiums and investment income.
Earned premiums represent the portion of the premiums for which insurance protection has been provided .
Expenses Partially offsetting the company’s revenues were the company’s expenses, which are cash outflows from the business.
The major expenses for an Insurance Company:
Adjusting claims
Paying the insured losses
Underwriting
4-Measuring Profit or Loss
A simple measure that can be used is the insurance company’s loss ratio and expense ratio.
The loss ratio is the ratio of incurred losses and loss adjustment expenses to premiums earned .
Loss ratio= (Incurred losses+Loss adjustment expenses)/Premiums earned
The expense ratio is equal to the company’s underwriting expenses divided by written premiums .
Expense ratio=Underwriting expenses/Premiums written
5-Rate-Making Methods
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Comment lancer un nouveau produit sur un marché ultra-saturé ?
Analyse de la valorisation de la gratuité à travers l'analyse de la stratégie de lancement du dernier album de Radiohead : InRainbows
1.
•
•
• An e-commerce business model aims to use and leverage the unique
qualities of the Internet, the Web, and the mobile platform.
• There are eight key elements of a business model.
Value proposition
Defines how a company’s product or service fulfills the needs of customers.
Questions to ask:
• Why should the customer buy from you?
• What will your firm provide that others do not or cannot?
Successful e-commerce value propositions:
• Personalization/customization
•
Reduction of product search, price discovery costs
• Facilitation of transactions by managing product delivery
2. Revenue model
• Describes how the firm will earn revenue, generate profits, and produce a superior return
on invested capital.
Most companies rely on one, or some combination, of the following major revenue models:
• Advertising (Yahoo)
• Subscription (WSJ)
• Transaction fee (eBay)
• S ales (Amazon)
• Affiliate (MyPoints)
Why may a company want more than one revenue model?
3. Market opportunity
• • Refers to the company’s intended marketspace and the overall potential financial
opportunities available to the firm in that marketspace.
Marketspace
• Area of actual or potential commercial value in which company intends to
operate.
Realistic market opportunity:
•
Defined by revenue potential in each market niche in which company hopes
to compete.
Market opportunity typically divided into smaller niches
4. Competitive environment
• Refers to the other companies operating in the same marketspace selling
similar products.
Who else occupies your intended marketspace?”
• Other companies selling similar products in the same marketspace.
• Includes both direct and indirect competitors.
Influenced by:
• Number and size of active competitors
• Each competitor’s market share
• Competitors’ profitability
•
•
•
•
5. Competitive advantage
• Competitive advantage:
• Achieved by a firm when it can produce a superior product and/or
bring the product to market at a lower price than most, or all, of its
competitors.
“What special advantages does your firm bring to the marketspace?”
• Is your product superior to or cheaper to produce than your
competitors’?
6. Market strategy
• • The plan you put together that details exactly how you intend to enter a
new market and attract new customers.
Details how a company intends to enter market and attract customers Best
business concepts will fail if not properly marketed to potential customers.
Examples:
• YouTube having social network marketing strategy which lets users to
post content on the site for free;
• AOL distributing out free trial CDs through magazines and newspapers
7. Organizational development
• Development plan describes how the company will organize the work that
needs to be accomplished.
Work typically divided into functional departments, e.g, production,
shipping, marketing
1-The Basics Parts of an Insurance Contract
Declarations
Definitions
Insuring Agreement
Exclusions
Conditions
Deductibles
Miscellaneous Provisions
Insured
Rider And Endorsement
2-COINSURANCE
A coinsurance formula is used to determine the
amount paid for a covered loss. The coinsurance for-
mula is as follows:
(Amount of insurance carried/Amount of insurance required) * Loss = Amount of recovery
Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large
Services marketing is a sub-field of marketing, The promotion of economic activities offered by a business to its clients. Service marketing might include the process of selling telecommunications, health treatment, financial, hospitality, car rental, air travel, and professional services.
Electronic Customer Relationship Management (E-CRM)
E-CRM This concept is derived from E-commerce. It also uses net
environment i.e., intranet, extranet and internet
Definition of E-CRM: Electronic CRM concerns all forms of managing
relationships with customers making use of Information Technology (IT).
E-CRM (Electronic Customer Relationship Management) expands the
traditional CRM techniques by integrating new electronic channels, such
as Web, wireless, and voice technologies and combines it with e-business
applications into the overall enterprise CRM strategy.
The goal is to drive consistency within all channels relative to sales,
customer service and marketing initiatives to achieve a flawless customer
experience and maximize customer satisfaction, customer loyalty and
revenue.
1-INSURANCE COMPANY OPERATIONS
The most important insurance company operations consist of the following:
Ratemaking
Underwriting
Production
Claim settlement
Reinsurance
Insurers also engage in other operations, such as accounting, legal services, loss control, and information systems.
2-RATING AND RATEMAKING
Ratemaking refers to the pricing of insurance and the calculation of insurance premiums .
A rate is the price per unit of insurance.
An exposure unit is the unit of measurement used in insurance pricing, which varies by line of insurance.
The person who determines rates and premiums is known as an actuary . An actuary is a highly skilled mathematician who is involved in all phases of insurance company operations, including planning, pricing, and research.
3-UNDERWRITING
Underwriting refers to the process of selecting, classifying, and pricing applicants for insurance . The underwriter is the person who decides to accept or reject an application.
Statement of Underwriting Policy:Underwriting starts with a clear statement of underwriting policy.
An insurer must establish an underwriting policy that is consistent with company objectives.
4-PRODUCTION
The term production refers to the sales and marketing activities of insurers. Agents who sell insurance are frequently referred to as producers .
Life insurers have an agency or sales department. This department is responsible for recruiting and training new agents and for the supervision of general agents, branch office managers, and local agents.
Property and casualty insurers have marketing departments. To assist agents in the field, special agents may also be appointed.
A special agent is a highly specialized technician who provides local agents in the field with technical help and assistance with their marketing problems.
5-CLAIMS SETTLEMENT
Every insurance company has a claims division or department for adjusting claims. This section of the chapter examines the basic objectives in adjusting claims, the different types of claim adjustors, and the various steps in the claim-settlement process.
Basic Objectives in Claims Settlement:
Verification of a covered loss
Fair and prompt payment of claims
Personal assistance to the insured
6-REINSURANCE
Reinsurance is an arrangement by which the primary insurer that initially writes the insurance transfers to another insurer (called the reinsurer) part or all of the potential losses associated with such insurance .
The primary insurer that initially writes the insurance is called the ceding company .
The insurer that acceptspart or all of the insurance from the ceding com pany is called the reinsurer .
The amount of insurance retained by the ceding company for its own account is called the retention limit or net retention .
The amount of insurance ceded to the reinsurer is known as the cession
2. Олимпийские надежды
Цели и задачи:
Популяризация олимпийского движения
среди дошкольников
Пропаганда физической культуры и
здорового образа жизни среди детей и их
родителей
Повысить у детей интерес к олимпийским
играм в Сочи
Создать праздничную атмосферу