際際滷

際際滷Share a Scribd company logo

partners of insurance ppt

Download as PPTX, PDF
S
Sathish Sairi

This document discusses various roles involved in the insurance industry, including bancassurance companies, reinsurers, agents, corporate agents, brokers, surveyors and loss assessors, third party administrators (TPAs), and lawyers. It provides details on the functions and benefits of each role. For example, it explains that agents help promote and sell insurance products to customers, while brokers represent the interests of the insured to help them identify the best risk solutions and negotiate terms with underwriters. Reinsurers take on some of the risks from insurance companies, and surveyors and loss assessors provide an unbiased assessment of claims to help facilitate the claims process.

Convert to study guideBETA

Transform any presentation into a summarized study guide, highlighting the most important points and key insights.

1 of 22
Downloaded 21 times
BANCASSUR ANCE COMPANY REINSURAN CE AGENTS &CORPORA TE AGENTS BROKER DEALERS SURVEYOR & LOSS ASSESSOR TPA INVESTIGAT OR &LAWYERS
BANCASSURANCE
ADVANTAGE FOR INSURANCE COMPANY oREVENUE oPRODUCT DIVERSIFICATION oQUALITY CUSTOMER ACCESS oWIDE DISTRIBUTION NETWORK OF BANK oDATA MINING
partners of insurance ppt
REINSURANCE
NEED FOR REINSURANCER
partners of insurance ppt
partners of insurance ppt
partners of insurance ppt
AGENTS The insurance agent helps in promoting and selling of insurance products and services to its customers. Types: 1) Captive or Exclusive Insurance Agent 2) Independent Agent 3) Micro Insurance agent
Corporate agent Corporate agents represent an insurance company and sell its policies. They are engaged in a particular business and sell insurance policies to their existing customers based on the situation. Ex: A travel agent may offer you a travel insurance policy or a vehicle dealer a motor insurance policy.
BROKER A broker is representative of the insured (i.e. customer) rather than of the insurer, but he is like an agent in the sense that he gets paid in the form of commission by the Insurance company with whom he places the business. He can deal with any number of Insurance companies as opposed to the single company that an agent can represent
FUNCTIONS OF BROKER ALWAYS ACT FOR THE CLIENT ASSIST THE CLIENT IN IDENTIFYING AND EVALUATING RISK CUSTOMISED INTEGRATED RISK SOLUTIION TO SUIT THE CLIENTS NEEDS. NEGOTIATE WITH UNDERWRITERS, BEST TERMS TAKING INTO ACCOUNT PRICE, COVERAGE SCOPE, INSURER SECURITY AND SERVICE STANDARDS
To be contd PROVIDING ADDITIONAL SERVICES SUCH AS COSULTING RISK MANAGEMENT RISK MODELLING AND UNINSURED LOSS RECOVERY IN INDIA BE CATALYST IN THE DEVELOPMENT AND INTRODUCTION OF NEW INNOVATIVE PRODUCT AND SERVICES.
SURVEYOR AND LOSS ASSESSOR SURVEYOR AND LOSS ASSESSOR ARE THE SERVICE PROVIDER TO INSURANCE COMPANY TO CARRY OUT CLAIM SURVEY AND ESTIMATE THE QUANTUM OF LOSS . LICENCE BE GIVEN TO INDIVIDUAL OR FIRMS. MOSTLY THE ARE APPOINTED TO ASSESS CLAIM RELATED TO EIGHT TYPE OF INSURANCE :- FIRE ,MOTOR ,ENGG.,MARINE CARGO,MARINE HULL,LOSS OF PROFIT,CROP INSURANCE
HOW THEY ARE BENIFICIAL TO COMPANY THEY PROVIDE UNBIASED EXPERT OPINION HELP IN CLAIM SETTLEMENT REDUCE TURN AROUND TIME
TPA HEALTH SERVICES TPA ACTS AS INTERFACE BETWEEN INSURER AND INSURED TO FACILITATE HASSLE FREE SEVICES AT TIME OF HOSPITALIZATION. THEY PROVIDE EITHER CASHLESS OR REIMBURSEMENT FACILITY. TPA IS REGULATED BY TPA-HEALTH SERVICES REGULATION ,2001 CURRENTLY THERE ARE 31 TPAS IN INDIA
FUNCTIONING OF TPA
HOW THEY ARE BENEFICIAL Faster and focused claims management Lower overhead cost and reduced cost of claim management. Improved control over claims outcomes. Safeguarding of customer relationships. Protection of brand reputation. Control of possible frauds by the private healthcare providers.
FUTURE PARTNERS SELF HELP GROUPS NON GOVERNMENT ORGANIZATIONS MICRO FINANCE INSTITUTIONS POST OFFICES DIRECT MARKETING VIA IT ENABLED SERVICES
partners of insurance ppt
partners of insurance ppt

More Related Content

partners of insurance ppt

  • 1. BANCASSUR ANCE COMPANY REINSURAN CE AGENTS &CORPORA TE AGENTS BROKER DEALERS SURVEYOR & LOSS ASSESSOR TPA INVESTIGAT OR &LAWYERS
  • 3. ADVANTAGE FOR INSURANCE COMPANY oREVENUE oPRODUCT DIVERSIFICATION oQUALITY CUSTOMER ACCESS oWIDE DISTRIBUTION NETWORK OF BANK oDATA MINING
  • 10. AGENTS The insurance agent helps in promoting and selling of insurance products and services to its customers. Types: 1) Captive or Exclusive Insurance Agent 2) Independent Agent 3) Micro Insurance agent
  • 11. Corporate agent Corporate agents represent an insurance company and sell its policies. They are engaged in a particular business and sell insurance policies to their existing customers based on the situation. Ex: A travel agent may offer you a travel insurance policy or a vehicle dealer a motor insurance policy.
  • 12. BROKER A broker is representative of the insured (i.e. customer) rather than of the insurer, but he is like an agent in the sense that he gets paid in the form of commission by the Insurance company with whom he places the business. He can deal with any number of Insurance companies as opposed to the single company that an agent can represent
  • 13. FUNCTIONS OF BROKER ALWAYS ACT FOR THE CLIENT ASSIST THE CLIENT IN IDENTIFYING AND EVALUATING RISK CUSTOMISED INTEGRATED RISK SOLUTIION TO SUIT THE CLIENTS NEEDS. NEGOTIATE WITH UNDERWRITERS, BEST TERMS TAKING INTO ACCOUNT PRICE, COVERAGE SCOPE, INSURER SECURITY AND SERVICE STANDARDS
  • 14. To be contd PROVIDING ADDITIONAL SERVICES SUCH AS COSULTING RISK MANAGEMENT RISK MODELLING AND UNINSURED LOSS RECOVERY IN INDIA BE CATALYST IN THE DEVELOPMENT AND INTRODUCTION OF NEW INNOVATIVE PRODUCT AND SERVICES.
  • 15. SURVEYOR AND LOSS ASSESSOR SURVEYOR AND LOSS ASSESSOR ARE THE SERVICE PROVIDER TO INSURANCE COMPANY TO CARRY OUT CLAIM SURVEY AND ESTIMATE THE QUANTUM OF LOSS . LICENCE BE GIVEN TO INDIVIDUAL OR FIRMS. MOSTLY THE ARE APPOINTED TO ASSESS CLAIM RELATED TO EIGHT TYPE OF INSURANCE :- FIRE ,MOTOR ,ENGG.,MARINE CARGO,MARINE HULL,LOSS OF PROFIT,CROP INSURANCE
  • 16. HOW THEY ARE BENIFICIAL TO COMPANY THEY PROVIDE UNBIASED EXPERT OPINION HELP IN CLAIM SETTLEMENT REDUCE TURN AROUND TIME
  • 17. TPA HEALTH SERVICES TPA ACTS AS INTERFACE BETWEEN INSURER AND INSURED TO FACILITATE HASSLE FREE SEVICES AT TIME OF HOSPITALIZATION. THEY PROVIDE EITHER CASHLESS OR REIMBURSEMENT FACILITY. TPA IS REGULATED BY TPA-HEALTH SERVICES REGULATION ,2001 CURRENTLY THERE ARE 31 TPAS IN INDIA
  • 19. HOW THEY ARE BENEFICIAL Faster and focused claims management Lower overhead cost and reduced cost of claim management. Improved control over claims outcomes. Safeguarding of customer relationships. Protection of brand reputation. Control of possible frauds by the private healthcare providers.
  • 20. FUTURE PARTNERS SELF HELP GROUPS NON GOVERNMENT ORGANIZATIONS MICRO FINANCE INSTITUTIONS POST OFFICES DIRECT MARKETING VIA IT ENABLED SERVICES