Marketing of Insurance

Paper Code: 
FSI 617
Credits: 
3
Contact Hours: 
45.00
Max. Marks: 
100.00
Objective: 

To understand the importance of marketing in Insurance.

9.00
Unit I: 
Insurance Pricing:

Pricing objectives, Insurance rating methods-Judgment, class, merit rating, methods of loading ,Classification of expenses, Process of issuing policy, Payment of premium

10.00
Unit II: 
Insurance Documents

: Meaning, Proposal forms, Personal Statement, First premium receipt(FPR), Renewal Premium Receipt(RPR),The policy document, Endorsements, Renewal & Bonus Notices, Prospectus, Claim documents.

8.00
Unit III: 
Insurance Distribution in India

: Insurance is sold not bought, Role transformation of intermediaries in the changing scenario ,Focus on multiple distribution channel-Agents ,banks, Brokers ,Work site marketing, Internet, Invisible Insurer.

9.00
Unit IV: 
Insurance intermediaries:

Insurance broker, code of conduct for broker, Insurance agents, Surveyor or loss assessor, Third party Administrator(TPA)-Health services, Code of conduct for TPA, Insurance Intermediaries in India-an introspection, Corporate agents

9.00
Unit V: 
Bancassurance:

Meaning, Advantages Bancassurance in India, Bancassurance -some emerging issues,Bancassurance models.

Essential Readings: 
  • MJ Mathew,”RiskManagement and Insurance”,RBSA Publications,Jaipur.
  • Neelam C.Gulati,”Principles of Insurance Management”,Excel books

 

References: 

Karam Pal,B.S.Bodla,M.C.Garg,”Insurance Management:Principles & Practices, Deep& Deep Publications

Academic Year: 
2019-2020
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