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O a form of risk management to hedge against the
risk of a contingent,
O the equitable transfer of the risk of a loss, from
one entity to another, in exchange for payment

O Insurance companies :

Life insurance
Non-life,
V pledges payment of an amount to the person
assured/nominee upon the occurrence of the
insured individual·s death or other event,

V major categories of life-based contract:-

Protection policies
Investment policies
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V p I Life insurance V Life Insurance
V HDFC ptandard Life Corporation
V Max New York
V ICICI Prudential
V Om Kotak Mahindra
Life Insurance
V irla pun-Life
V TATA AIG
Term Assurance
Whole of Life Assurance
Endowment Assurance
Annuities-
Non Traditional Covers
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V insurance against the risk of incurring medical
expenses

V renewable annually, monthly or be lifelong

V type and amount of health care costs that will be

covered by the health insurance company are
specified in advance, in a member contract or
"Evidence of Coverage" booklet
 a policy that pays benefits to the beneficiary if
the cause of death is due to an accident

 pays benefits in addition to any life insurance

held

 traffic accidents, exposure, homicide, falls, heavy

equipment accidents, and drowning

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[ptrategic usiness pkills Development

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management buy-in
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nit for
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V Primary data & pecondary data.
V esearch design: Descriptive and Exploratory
V pample size: 50
-10agents
- 10 customers through agents
- 30 customers(randomly)

Instruments: Questionnaire, Focus group

interview & PI(agents).
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[ No hassle free and

Cashless service.
[ Death by
[ Lack of Proper illness, suicide, or
coverage. natural causes not
For ex. Policy not covered.
covering the [ accidental death
anesthesiologist and
other specialist bills
caused from war or
usually not covered. terrorism
V The insurance industry is turning more of its
attention to product development
V Product development is still driven primarily by
the process people
Product Innovation is best brought about by:
[ Promoting a continuous cycle of exploration and
learning
[ Leveraging Diversity
[ Working across the organization will allow you to
avoid the usual excuses
V From the Findings:
V HEALTH INp
ANCE
 should provide a hassle free cash service.
 should provide room for reimbursement of
bills associated to problems mentioned in the
contract.
? DEATH INp
ANCE
 should provide coverage for accidents resulting
from wars or any other environmental mishap.