C26 Ayush Sinha C27 Divya Aggarwal C28 Ankita Agrawal C29 Kanika Taneja C30 Varsha Vijayaraghavan

Insurance sector involves helping individuals and business manage risk to protect themselves from catastrophic losses and to anticipate potential problems Insurance jobs are:
Personally as well as Financially rewarding Stable yet Dynamic industry

Insurer

Insured/ Policyholder Premium

Uses to an individual
Provides security, safety and fulfills the needs of a person; Protects mortgaged property; Eliminates dependency; Provides profitable investment

Uses to business/ industry

Removal of uncertainty; Stimulant of business enterprise; Source of credit; Growth of business competition

Uses to society
Solution of social problems; promotion of international trade; Employment opportunity

An actuary is a business professional who deals with the financial impact of risk and uncertainty.
Mathematically evaluates the likelihood of the event, to minimize losses. Analyzes important data such as mortality, sickness etc to forecast future risks. Compilation of data, to help the company deal with payment and coverage issues.

Insurance brokers, best described as super-independent agents offer a whole host of insurance products for you to consider

What do they do?

They are responsible for timely and accurate processing of forms & premiums Analyze a business and secure correct and adequate coverage for the business

DECIDES:

Whether or not to accept the risk and insure claimant The premium that needs to be charged to insure that risk The amount of coverage the client should receive

ROLE: Helps in creating homogenous portfolios and accepting them Helps designing policies for individual and companies looking for protection Protects company from acquiring Non-Profitable business Identifies moral and physical risk

Determines if the claimant is owed a payment under insurance policy and in what amount Can be insurance companys employee or independent consultant representing claimant Evaluation of a claim includes

INTERVIEWING PEOPLE Claimant Witnesses Expert Consultants etc

EXAMINE DOCUMENTS Police Reports Medical Records Driving Record etc

Analyzes accidents, incidents, and catastrophes Recommendation for Risk minimization Both employed in insurance sector, as well as, corporate and government agencies to lower premium

LOSS CONTROL SPECIALIST:

Subset of Risk management Identification and elimination of potential hazards- accidents and losses, diseases etc

People skills Accuracy

Sales skills

Ability to synthesize
Communication skills Creative Ability

Analytical skills

Initiative