Insurance Services Management

Syllabus

BCOP 522-18

Insurance Services Management

Unit–I

Concept of Insurance: Basic Principles of Insurance, Role and Importance of Insurance in Society; Concept of Micro Insurance; Types of Insurance; Insurance Documents and Policy Terms & Conditions; Insurance Agents: Types, Roles and Functions. Role of Insurance in the Economy. Risk and Uncertainty, Classification of Risks, Sources of Risk-External and Internal, Risk Management.

Unit-II

Life Insurance: History and Importance, Products, Types of Claims, Private Sector Companies in Life Insurance Sector, Recent Trends in Life Insurance. Health Insurance: Determinants, Factors Affecting the Health System in India; Health Insurance Intermediaries, Health Insurance Products, Claim Process, Challenges in Health Insurance; Health Insurance to Poorer Section. General and Commercial Insurance: History and Significance, Distribution Channel, Types of General Insurance, Types of Commercial Insurance.

Unit-III

IRDA Act: Salient Feature, Duties, Powers and Functions of the Authority, Financial Accounts and Audit, Power of Central Government to Issue Directions, IRDA (Protection of Policy Holders Interest) Regulation 2002, Rationale of Opening up of the Insurance Sector to the Private Sector. Credit and Deposit Insurance: Nature, Terms and Conditions, Claim, Recovery etc. Public Liability Insurance, Emergency Risk Insurance.

Unit-IV

Concept and Importance of Reinsurance: Tax Benefits Under Life Insurance Policies, Application of Management Concepts in Insurance: Marketing of Insurance Policies, Issues Related to Human Resource Management in Insurance Sector, Application of Financial Management in Insurance Sector, Application of Information Technology in Insurance.