The general perception about the insurance industry is by and large flawed in that, they sell policies and make substantial profits like any other product off the counter. The reality is far more complex and the pricing of products is no easy task but a long-drawn exercise involving market analysis, past claims history and a collaborative effort amongst underwriters, actuaries and...
Blame it on the intense discounting of prices and the general downturn in the current year. Private general insurance companies have grown by a low 5% in the first six months of the current fiscal, as against a 20% in the same period last year. All the top-end players barring a couple have shown sharp declines in half-year growth. The Insurance Regulatory & Development...
The audit of Royal Sundaram's processes and systems was conducted by Bureau Veritas to ascertain their adherence to ISO international standards. The first audit was conducted in June 2008 and the certificate was given on July 08. Royal Sundaram received an extension of ISO 9000:2000 certification for Health and Accident claims for another year. Alignment of their processes and...
Insurance and agents are two words that seem to be inextricably linked in our minds. If you think of the word insurance, then the word agent will instantly pop up in your brain. This is a symbiotic relationship based on trust and mutual benefits and both the parties are the poorer without the other. The media has of late been abuzz with the Swarup committee recommendations of...
Now and then, when skimming through newspapers, we come across reports of a fire or a robbery in a factory or warehouse. Most of us would probably pay scant attention to this news and move on to other topics. But if we owned a manufacturing or a storage facility, such news would be relevant to us. We know that industries or warehouses are generally covered against accidents such as...
Back
