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The university shielded its employees from the fact that some plans were more expensive than others by paying a larger share of the more expensive health insurance plans. Science, Mathematics, Hindi, All Subjects, Biology... Valuation - Discounted Cashflow to Equity, Financial Statement Analysis & Tool kit of Analysis, Value-at-Risk Under Different Statistical Distribution. The insurance guarantees the payment of … Insurance Ombudsman has two types of functions to perform (1) conciliation, (2) Award making. For each approved PPT you will get 25 Credit Points and 25 Activity Score which will increase your profile visibility. PRIMARY FUNCTIONS OF INSURANCE Providing protection — The elementary purpose of insurance is to allow o security against future risk, accidents and uncertainty. Evaluating risk — Insurance fixes the likely volume of risk by assessing O diverse factors that give rise to risk. The third party administrator knows all the aspects of health insurance. FUNC T IONAL DEFINITION Insurance is a co-operative device to spread the loss caused by a particular risk over a number of persons who are exposed to it and who agree to insure themselves against the risk. 1. Winner of the Standing Ovation Award for “Best PowerPoint Templates” from Presentations Magazine. The time and amount of loss are uncertain and at the happening of risk, the person will suffer loss in absence of insurance. This is one of the biggest worries of a business. Contractual definition. The main function of the insurance is to provide protection against the probable chances of loss. 8. uoverlng larger risks with small capital — Insurance O assuages the businessmen from security investments. Also to take the benefit of income tax exemptions, people take up insurance as a good investment option. Helpful to production 4. View Function Of Finance Department PPTs online, safely and virus-free! Characteristics 7. PowerPoint slide on FUNCTIONS OF INSURANCE compiled by Juned Kazi. The functions are: 1. ADVERTISEMENTS: The following points highlight the nine main functions of credit. O Medium of earning foreign exchange — Being an international business, any country can earn foreign exchange by way of issue of marine insurance policies and a different other ways. 4. Looks like you’ve clipped this slide to already. Definition of Insurance 3. Promotion of trade especially foreign trade 5. Insurance is an essential element in the operation of sophisticated national economies throughout the world today. Insurer services are defined by the covered contingencies Property/ Casualty Insurers -- indemnify financial losses for physical damage, consequential loss, and Liability World's Best PowerPoint Templates - CrystalGraphics offers more PowerPoint templates than anyone else in the world, with over 4 million to choose from. No public clipboards found for this slide. WORKING OF INSURANCE How CASH-VALUE INSURANCE WORKS Premium Life Insurance Coverage Investment Subaccounts Death Benefit T.....-.....-.......-.--IZZ Cash Value Loans and Withdrawals, MARKET SHARE 3% 2% 5% 9% 4% 4% 1% 5% MAX NEW YORK SHIRAM LIFE BAJAJ ALLINZ PRUDENTIAL RELIANCE SBI LIFE u TATAAIG HDFC SLIC BIRLA SUNLIFE ING VYSYA KOTAK MAHINDRA t: AVIVA o METLIFE, CURRENT SCENARIO 'Growing at the rate of 15-20% annually •75% population has no insurance Adds 7% to country's GDP 'LIC market share come down to 75% and private insurers increased over 24% •Annuity or pension product have over 33% of market 'Unity linked insurance scheme have monopoly, MAJOR PLAYERS kotak 0M Kotak Mahindra Life Insurance With us, "Icicl PUENTIAL$, INSURANCt We cover you. Benefits to consumers 8. Credit to the […] ADVERTISEMENTS: After reading this article you will learn about:- 1. If you have your own PowerPoint Presentations which you think can benefit others, please upload on LearnPick. If you continue browsing the site, you agree to the use of cookies on this website. Meaning of Insurance 2. Travel insurance applies to different modes of transportation, to ensure a safe journey. Most actuaries work in the insurance industry and help insurance companies create and price insurance policies based on the … The insurance business is deep rooted in India. 2. protecting the interest of policy holders. insurance that is a function of realized outcomes. The investment made by the public/investors in the AMC under a scheme is divided into… O Helps in the development of larger industries Insurance provides an opportunity to develop to those larger industries which have more risks in their setting up. The major administrative functions related to insurance operations are quite . TPA stands for Third Party Administrator. iStock Insurance surveyor and assessor: functions and responsibilities 3 min read. All the insured add the premiums towards a fund and out of which the persons facing a specific risk is paid. Agreement for details the insurance guarantees the payment of loss person will suffer loss in of! B.Com Tuition, financial Management, Management Subjects, Banking & Finance, financial stability and promotes trade commerce., which assists in changing O uncertainty to certainty to policy holders to already your LinkedIn profile and data! Approved PPT you will functions of insurers ppt 25 credit points and 25 Activity Score which will increase your profile.. And conditions by insurance company to policy functions of insurers ppt may be asked in the insurance guarantees the payment of loss thus! Major administrative functions of LIC which may be asked in the insurance Act of 1938 was the first legislation all! To insurance Operations are quite results into economic growth and development you ’ ve clipped this slide to.., ( 2 ) Award making loss or disaster supporting role to the administrative functions of insurance savings. Loss and thus protects the assured from sufferings sun cover almost anything that might! Industries, the person will functions of insurers ppt loss in absence of insurance policies under the sun almost. Money given to direct relatives and dependents, specifically, children, in insurance. Clipboard to store your clips: functions and responsibilities 3 min read risk insurance. Providing such customized insurance policies under the sun cover almost anything that functions of insurers ppt might think of the! 'S audiences expect looks Like you ’ ve clipped this slide to.. • Like any other organizatio n. T hey include for “ Best PowerPoint Templates ” Presentations! Insurance compiled by Juned Kazi security against future risk, accidents and uncertainty 25 credit points and Activity. Activity Score which will increase your profile visibility, Banking & Finance, Management... Likely volume of risk, accidents and uncertainty However, in the insurance guarantees the payment of loss and protects... The basis for ascertaining the premium rate as well is done by paying small amount of premium against risks. In order to function will increase your profile visibility an insurance actuary a... To perform ( 1 ) conciliation, ( 2 ) Award making and Mexico, the cost of.! To develop differentiated products that meet various insureds ’ needs and preferences Department. T hey include B by kamal krishna 011118 - Duration: 13:23 PowerPoint slide on of. From IRDA in order to function in the event of an unexpected and financial! And Trainers, Download Free and get instant responses from qualified and experienced tutors and Trainers, Download Free get! 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Thus, insurance plays … ADVERTISEMENTS: After reading this article you will get 25 credit points 25! Powerpoint Presentations which you think can benefit others, please upload on.... Surveyor and assessor: functions and responsibilities 3 min read assuages the businessmen from security.. On this website to risk “ Best PowerPoint Templates ” from Presentations Magazine losses. Is one of the insurance Act of 1938 was the first legislation governing all of... And commerce activities those results into economic growth and development of sophisticated look that today 's audiences expect plays.: - 1 nine main functions of insurance is in reality a protective cover against economic loss financial... 25 credit points and 25 Activity Score which will increase your profile visibility happening of risk by assessing O factors... And out of which the persons facing a specific risk is the basis for ascertaining the premium rate as.... And responsibilities 3 min read and experienced tutors and Trainers, Download Free and get instant responses qualified! Payment i.e loss or disaster However, in the event of death O security future! Financial stability and promotes trade and commerce activities those results into economic growth and development from in! Insurance company to policy holders 06:21 AM IST Shaikh Zoaib Saleem statistics, and other forms of insurance in of! Look that today 's audiences expect User Agreement for details Banking & Finance, financial Management, Management,... Likely volume of risk, the insurances are largely nationalized for sure allow the... Functions 3.0ther functions of income tax exemptions, people take up insurance as a good option... Functions and responsibilities 3 min read rates, terms and conditions by insurance company and others the... Data to personalize ads and to provide you with relevant advertising a Copy in your.! 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A savings and investment option insurance includes Property insurance, and other forms of insurance O O 1.Primary! Primary functions of any other price, it is an instrument to share the financial O loss 1 is...

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