This website uses cookies to ensure you have the best experience. Learn more

Abc Insurance Essay

2557 words - 11 pages

1st Prize Winner – Shri Devaraj Belke Mahadeva, NIA, Pune
Insurance as an industry has secured a vital position in the development of the nation’s economy. An
efficient insurance market is essential to achieve integration into the global economy and sustainable
strong economic growth. In conjunction with the forces of global consolidation, current advances in
information technology and the potential of e-business mark the beginning of a veritable efficiency
revolution in the insurance industry.
One of insurance's key roles is safeguarding the financial health of small and medium-sized enterprises.
In addition to the protection provided by ...view middle of the document...

For companies wanting to address this
opportunity, a “Even me” approach will prove insufficient. To emerge as winners, they must re-examine
their strategies and commit to a few bold, breakthrough approaches. This will not only put them in pole
position in the race for customers, but will also help them build sustainable and profitable businesses.
India’s life insurance market has grown rapidly over the past six years, with new business premiums
growing at over 40 per cent per year. This impressive growth has been driven by liberalisation of the
sector, that enabled the entry of a host of new players with significant growth aspirations and capital
commitments. These players have contributed to the sector’s development by significantly enhancing
product awareness, promoting consumer education and information, and creating more organised
distribution channels.
In urban areas, penetration of life insurance in the mass market is about 65 per cent, and it is
considerably less in the low-income unbanked segment. In rural areas, life insurance penetration in the
banked segment is estimated to be about 40 per cent, while it is marginal at best in the unbanked
segment. This will change as India sees strongly accelerating household income and a more favourable

demographic profile over the next two decades. This will accelerate insurance penetration and per
capita coverage.
Adding to the growth driven by sheer economics is the demand for long-term savings and investment
products—a gap met by insurance for the Indian consumer. Consumers rank life insurance higher than
other investment options because of its ease and convenience in investing, tax benefits, and protection.
Among all financial products in India, life insurance enjoys the highest popularity and demand. Contrary
to the conventional directly correlated risk–return relationship, Indian consumers perceive life insurance
as a low-risk and high-return investment—a perception driven by high awareness of the Life Insurance
Corporation of India (LIC) and its record of delivering stable returns over the years.
Multiple Markets Emerging, Needing Distinct Approaches
We can anticipate new distinct consumer segments with different needs, the rising importance of
significantly wider reach, and competitive dynamics such as the emergence of new business models
from some competitors changing the game. new distinct consumer segments due to dramatic
demographic shifts
Rising income levels and dramatic demographic shifts will lead to the emergence of distinct consumer
segments that need to be served in fundamentally different ways. Consuming classes are likely to
emerge by 2012: „

Rising affluent. The affluent “globals” (annual household income greater than Rs. 10 lakh) will be
2.3 million households strong by the end of 2012 and will earn almost 12 per cent of the
country’s aggregate disposable income. Going forward to 2025, this segment will swell to 9.5
million households...

Other Essays Like Abc Insurance

activity based costing Essay

2013 words - 9 pages €¢ Are more complex Are often automated Often make more than one product Use proportionately smaller amount of direct labor making direct labor a poor allocation base for factory overhead. When the manufacturing process is more complex: • Then multiple allocation bases should be used to allocate overhead expense. • In such situations, managers need to consider using activity based costing (ABC). ABC Definitions â

Managing Risk in the Supply Chain: Case Kapton

2593 words - 11 pages Ohio, only sells directly to original equipment manufacturers that consume large quantities of Kapton. For small manufacturers like Delta, customers can only purchase Kapton through a network of DuPont's authorized distributors. As the other major supplier in this case and the only direct supplier of Delta, ABC Insulating Products is such an authorized distributor of DuPont which located in Los Alamos, New Mexico. In addition to purchasing Kapton

Law 575 Final Exam Latest Assignment

2298 words - 10 pages B. The Fair Labor Standards Act C. The Regulatory Wage Act D. The Subsistence Pay Act 20) Striking union members of ABC Company decide that picketing ABC Company is not accomplishing the desired results and decide to further their efforts. Sally, the union president, suggests that they picket XYZ Company, a supplier to ABC, to pressure XYZ into not doing business with ABC. Which of the following is true regarding Sally's plan? A. Sally's

Business Law Chapter 9

1145 words - 5 pages large business consulting firm. ABC Company has developed, according to industry sources, a new process of building low-emission, high mileage gas engines for automobiles. XYZ, a competitor of ABC, hires Ashley to write a report about the manufacturing process developed by ABC. Can Ashley photograph the ABC factory using a long lens? Can Ashley call the ABC plant manager and ask questions? What if plant manager answered the questions in detail

Kpmg Accounting For Lease Extension

1872 words - 8 pages such as insurance, maintenance, and taxes in connection with the leased property. The $1.2 million is not a contingent rental, a guarantee of Jill’s ” debt or an executory cost. Rather, the $1.2 million is paid to Jill in order to induce Jill to keep the stated rentals in the lease equal to the current lease rate for another ten years. That payment demonstrates that Jill requires compensation greater than the existing rentals for the use of the

Transforming a Company Into a High-Performance Organization

3413 words - 14 pages INTRODUCTION ABC Telecommunications is a publicly traded, global, manufacturing telecommunications company who primarily sells copper and fiber products to customers like Verizon and AT&T/Cingular. Like many other telecommunication companies, ABC went thru a significant down-turn around 2000. Not only did offices and manufacturing plants get shut-down throughout the world, the morale and culture of ABC changed. ABC lost a lot of their

Our Elders Pay the Price

1320 words - 6 pages Our Elders Pay the Price Shelly Brewster HLTH 481-905 April 2, 2014 Our Elders Pay the Price The current healthcare system is problematic in America, and the elderly population is suffering the most financially. Prescription costs are sky-rocketing and since insurance and social security do not cover all the costs, the elderly are paying out of pocket for their medications. Employees in the medical field should prescribe drugs that treat

What You Eat Is Your Business

856 words - 4 pages ownership of the health and well-being of Americans. However, it is quite the opposite when it comes to government officials. These officials currently treat obesity as a public health issue insurance, pharmaceutical companies, and ultimately quality of life for a variety of people. Balko believes if all Americans would all make better choices about diet, exercise, and personal health the public wouldn’t pay for the consequences of individuals

Bob's Life Story

623 words - 3 pages ddddddddddd bob Obama must convince Dems on budget (NECN/ABC) - A confident President Obama used Tuesday night's news conference to tell the American people that the stalled economy is back on the road to recovery. "We will recover from this recession. But it will take time, it will... By Michael Kranish Globe Staff / March 25, 2009 * Email| * Print| * Single Page| * Yahoo! Buzz| * ShareThis Text size

Acc 290 Final Exam

1732 words - 7 pages debits and increases can be debits or credits. 4) An increase in an expense account must be A. debited B. credited C. either debited or credited, depending on the circumstances D. capitalized 5) ABC Corporation issues 100 shares of $1 par common stock at $5 per share, which of the following is the correct journal entry? A. Cash $100 Common Stock $100 B. Cash $500 Common Stock $500 C. Cash $500 Paid-in Capital, Excess of Par $400


2377 words - 10 pages of formation b. x the unlimited liability for the business’ debts c. the sharing of management authority with others d. the difficulty in transferring ownership to others 5. ABC Corp. buys all of the stock of XYZ Corp., a publicly traded company, in a tender offer. Which of the following is true about the liabilities of XYZ Corp.? a. Because XYZ Corp. was publicly traded at the time of its sale, its liabilities are extinguished by

Related Papers

Netw 471 Week 4 Essay

888 words - 4 pages ”. 3. Faxed, emailed, and telephone proposals will not be accepted. 4. All proposals must be signed in black ink by an authorized representative of the Vender to enter the Vender into a binding contract with ABC Company. Contract Acceptance Should a proposal be accepted from the submitted proposals, the Vender will be notified by phone call by the RFP contact and a letter of proposal acceptance will be mailed to the Vender. Insurance

Extranet Solution Essay

1924 words - 8 pages available to clients at an ABC Agency, an insurance brokerage firm. I will discuss the background of the firm, their current processes and their current and future goals. Implementation of a program called CSR24 will be discussed along with how it will benefit ABC Agency and service their clients to keep a competitive advantage in this ever changing market. “When a firm sustains profits that exceed the average for its industry, the firm is said to

Dd Model And The Size Of It's Jingus

1366 words - 6 pages us assume that fictional ABC Bank currently has $10 million in its portfolio. If we follow the D-D model, we can assume that a certain percentage of investors will request their money at a time T1 while the remaining percentage of investors will continue to keep their money in the bank allowing the bank to invest in less liquid assets while retaining their ability to pay back the investors at time T2. Let us say that depositors of ABC Bank were

Basel Oawfp Essay

894 words - 4 pages four reasons as to why liquidity management so important. i. Banks can avoid to sell their assets at fire-sale price to meet outflow of funds. ii. Banks can obtain a better credit rating iii. A bank can borrow from other banks at a lower rate. iv. Banks could meet their prior loan commitments and retain customers. Q4. What are the problems of deposit insurance? i. Insured depositors have lesser incentives to monitor the