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    Insurance Services

    Uploaded by

    Kameswara Rao Poranki
    This document outlines an insurance services course that is 3 credits and includes 3 hours of instruction per week. The semester end exam is 3 hours and worth 70 marks, while continuous internal evaluation is worth 30 marks. The course objectives are to provide an overview of the insurance industry, life and general insurance principles, and the regulatory framework. Upon completing the course, students will understand basic insurance concepts and classifications, learn about life and general insurance products, and develop knowledge of the insurance field. The course contains 5 units that cover topics such as the introduction to insurance, classification of insurance, regulatory frameworks, life insurance products and policies, and general insurance types.

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    Insurance Services

    Uploaded by

    Kameswara Rao Poranki
    160 views2 pages
    This document outlines an insurance services course that is 3 credits and includes 3 hours of instruction per week. The semester end exam is 3 hours and worth 70 marks, while continuous internal evaluation is worth 30 marks. The course objectives are to provide an overview of the insurance industry, life and general insurance principles, and the regulatory framework. Upon completing the course, students will understand basic insurance concepts and classifications, learn about life and general insurance products, and develop knowledge of the insurance field. The course contains 5 units that cover topics such as the introduction to insurance, classification of insurance, regulatory frameworks, life insurance products and policies, and general insurance types.

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    This document outlines an insurance services course that is 3 credits and includes 3 hours of instruction per week. The semester end exam is 3 hours and worth 70 marks, while continuous internal evaluation is worth 30 marks. The course objectives are to provide an overview of the insurance industry, life and general insurance principles, and the regulatory framework. Upon completing the course, students will understand basic insurance concepts and classifications, learn about life and general insurance products, and develop knowledge of the insurance field. The course contains 5 units that cover topics such as the introduction to insurance, classification of insurance, regulatory frameworks, life insurance products and policies, and general insurance types.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    160 views2 pages

    Insurance Services

    Uploaded by

    Kameswara Rao Poranki
    This document outlines an insurance services course that is 3 credits and includes 3 hours of instruction per week. The semester end exam is 3 hours and worth 70 marks, while continuous internal evaluation is worth 30 marks. The course objectives are to provide an overview of the insurance industry, life and general insurance principles, and the regulatory framework. Upon completing the course, students will understand basic insurance concepts and classifications, learn about life and general insurance products, and develop knowledge of the insurance field. The course contains 5 units that cover topics such as the introduction to insurance, classification of insurance, regulatory frameworks, life insurance products and policies, and general insurance types.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 2

    INSURANCE SERVICES

    Instruction 3 hours per week


    Duration of Semester End Examination 3 Hours
    Semester End Examination 70 Marks
    Continuous Internal Evaluation 30 Marks
    Credits 3

    Course Objectives: The Objectives of the course are:


    1. To give an Overview of Insurance Industry and Educate on Principles of Insurance.
    2. To provide an insight on classification of insurance and Regulatory framework of Life Insurance.
    3. To enlighten the students on Life insurance and General Insurance.

    Course Outcomes: After completion of the course, student will be able to:
    1. Understand basic concepts of Insurance, Principles and classification of Insurance
    2. Enrich their knowledge on Insurance and develop their specialties in the field of
    Insurance
    3. Develop a clear understanding and knowledge about of Life Insurance, General Insurance
    and Marketing Channels.

    Unit – I
    Introduction to Insurance:
    Introduction to Insurance: Definition, terminology of insurance: Bound, Insurer Insured,
    Premium, Policy, and Exposure to loss. Functions of Insurance -Primary Functions and
    Secondary Functions. Evolution of Insurance, Reforms in the Indian Insurance Sector. Role and
    Importance of Insurance. Principles of Insurance. Benefits of Insurance.

    Unit – II
    Classification of Insurance:
    Life Insurance - Classification: Marine Insurance, Fire Insurance, Aviation Insurance, Motor
    Insurance. Reinsurance –Features, uses and advantages, Types of Reinsurance. Role of insurance
    in financial System. Legal aspects of Insurance Contract, BANC -ASSURANCE

    Unit – III
    Regulatory Framework of Life Insurance
    Functions of Insurers: pricing of insurance-pricing elements Production, Underwriting-process
    methods of rate determination types of Underwriters, Rate Making-types of Rating methods,
    calculation of premium and classification, Managing Claims and Losses, Types of Insurers, An
    overview of IRDA.

    Unit – IV
    Life Insurance
    The Concept of Life Insurance – Features, Classification of Life Insurance Policies based on
    Duration, Premium Payment, Participation in profit, Number of Lives covered, Methods of
    Payment of Claims amount and Non – conventional Policies. Life insurance products – Types,
    Tax treatment of Life Insurance. Actuarial science - concept and Responsibilities, provisions of
    life insurance.
    Unit – V
    General Insurance
    General Insurance: Concept, Types - Health and accident, Automobile, Business, Credit,
    Aviation, Causality, Travel and Crop Insurance. Marketing Channels - Agents and Brokers
    Professionalism, Remuneration, Responsibilities, Classification, Criteria for Appointment and
    Capital adequacy norms for broker.

    Text Books:

    1. Emmett J. Vaughan & Therese M. Vaughan, Fundamentals of Risk & Insurance, Wiley,
    India Edition, 11th Edition 2013.
    2. Mishra M.N., Life Insurance, Administration and Management, Sultan Chand & Co.,
    New Delhi, 22nd Edition, 2016.
    3. Jyotsna sethi, Nishant Bhatia Elements of Banking and Insurance, PHI second Edition
    2012.

    Suggested Readings:

    1. H. Narayanan ,Indian Insurance – A Profile , Jaico Publishing House, 1st edition, 2008.
    2. S. Arunajatesan, T.R. Viswanathan ,Risk Management & Insurance,MacMillan,2009
    3. Mark. S.Dorfman, Introduction to Risk Management & Insurance, Prentice-Hall of India
    Private Limited, 10th Edition 2012.

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