MANAGING LIFE INSURANCE---------PHI
With the liberalization of the Indian economy, the insurance sector has opened up, and a lot of new players, both multinationals and Indian companies with foreign collaboration, have entered this arena realizing the vast potential in life insurance. A basic knowledge of life insurance has therefore become essential for the students opting for this course as well as for the practitioners. With this view in mind, Dr. Kutty gives in this text a masterly analysis and a holistic view of every dimension of life insurance management in the sequence of 6Ps—purpose, principles, purchase, products, process and people, in an easy to understand language. He strives to demystify the complex world of life insurance and present its fundamentals to all the readers.
Based on the author’s rich experience in insurance sector over the two decades, the text provides new research insights in the areas such as product comparisons, e.g. portfolio approach to purchase of life insurance. It covers the actuarial dimensions of life insurance, with the minimum use of mathematics. Besides, the text discusses in detail the two core operations of an insurance company—underwriting and claims. The hallmark of this book is its attempt to transform the way marketing and operations in life insurance are approached and its sure guidance on how a professional should approach and manage sales, service, process and people.
Key Features
Separate chapters are devoted to topics such as general insurance, risk management, underwriting, claims and financial management.
The nature of contracts in general and life insurance contracts in particular is explained.
Different traditional insurance products such as term insurance and non-conventional products like unit-linked policies are dealt with in detail.
This book is primarily designed for students of management, commerce and those pursuing specific insurance courses. It can also be profitably used by industry practitioners. Finally, the book will be invaluable to managers of Life Insurance companies, Banks (engaged in Bancassurance), and Security firms.
Contents:
Preface
Chapter 1 THE BUSINESS OF THE FINANCIAL MARKETPLACE
Chapter 2 RISK MANAGEMENT AND INSURANCE
Chapter 3 PRINCIPLES OF NON-LIFE INSURANCE
Chapter 4 PRODUCTS IN GENERAL INSURANCE
Chapter 5 LIFE INSURANCE—The Role
Chapter 6 ACTUARIAL PRINCIPLES OF LIFE INSURANCE
Chapter 7 LIFE INSURANCE CONTRACT PROVISIONS
Chapter 8 THE PURCHASE OF LIFE INSURANCE
Chapter 9 THE PRODUCT: Life Insurance as Protection
Chapter 10 THE PRODUCT: Life Insurance as Savings
Chapter 11 THE MARKETING OF LIFE INSURANCE: Strategies and Rollout
Chapter 12 MARKETING OF LIFE INSURANCE: The Experience
Chapter 13 UNDERWRITING AND CLAIMS
Chapter 14 FINANCIAL MANAGEMENT OF A LIFE OFFICE
Chapter 15 PEOPLE
References
Index
