Risk management in insurance
Tags :
Insurance, Life insurance, savings, investment, security,
Industry :
Insurance
Functional Area : Growth |
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About "Risk management in insurance" topic:
Risk management in insurance is the methods used by organizations and individuals to manage activities whose outcomes cannot be forecasted exactly, i.e., measures taken to reduce the risk of damage to physical assets, exposure to legal liability, or injury to employees or customers. In organizations, the purpose of risk management is to enable the organization to progress toward its goals and objectives on a direct, efficient, and effective path. As such, risk management is a central management function, devoted to the management of uncertainty and its effect on the organization�s progress toward its mission. Risk management is an element of virtually any area of management specialization. So discuss on risk management in Insurance.
1 trends
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on topic: "Risk management in insurance"
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Insurance is always meant for people to secure themselves incase of any disaster. These disaster could count many ranging from ant thieft to a persons death. It simply means that Insurance is liable for everyone and does not mind in what ever field they belong to. There are insurance for people who fell ill. But the people who handle the most risky jobs like Pet-sitting are not insured. Companies purchase workers compensation programmes by the state to insure them. The problem arises of the number of employees, there needs to be certain number of employees in a company for the company to get insured. Even these thershold varies from region to region. If the number of employees are less the ...
Insight: "Should Risk Taking Be Insured" deleted from your view.
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Managing risk is an old habit of human beings. In our day-to-day life, we seem to always be worried about future risks. As a result, we end up investing in insurance or other investment instruments to secure ourselves against those unseen risks.Accidents, environmental disasters, bankruptcy, loss in business and death are risks that have plagued us since time immemorial. Generally, we cannot get a complete shield against any potential risk, but we can adopt appropriate proactive measures to mitigate every risk. The same concept applies to the financial services industry too. However, managing risk individually seems to be less talked about today, while enterprise-wide risk management (EWRM)...
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Susanta Panda
| Commented
| 4 years ago
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All business leaders are embracing the discipline of enterprise risk management in the planning and assessment of strategic objectives, and the monitoring and reporting on risks associated with those objectives. So it is a important aspect to...
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Trends: "Enterprise risk management" deleted from your view.
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The crime rate is growing day by day. The number of accidents are also increasing. Some people get hurt during their skiing holidays, sometimes their is a spilling red ink over brides $3000 clothes, families being robbed and have to spend their entire holidays in one clothes. There are many stories like this and people do not have enough insurance to protect them from such calamities. Had they had the correct insurance like: travel insurance pet insurance wedding insurance contents insurance things would have been so much better. These all stories give us a brief idea of insurance sector stories and all this encourages people to buy insurance. Gone are those days when people used to have ...
Insight: "Insurance how much is necessary" deleted from your view.
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Yes
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No
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Manoj Garg
| Argues in support of
"Yes"
| 3 years ago
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Rather buy a performing diversified equity funds and take a term plan......
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Balamurugan Gangadharan
| Argues in support of
"No"
| 3 years ago
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ULIP's should be taken for longer term and it should idealy mature at our retirement year. The mortality charges is lesser than the pure term plan and this enables one to go for high life insurance cover. The returns are also very attractive on a...
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Debate: "Are ULIP's a costly proposition ?" deleted from your view.
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CICI Lombard General Insurance on Tuesday said it offers customised weather-based crop insurance to help farmers cover losses caused by weather damage under its weather-based crop insurance. ICICI Lombard is a 74:26 joint venture between ICICI Bank and Fairfax Financial Holdings of Canada. The company`s weather insurance comes with multiple features, such as customisation of insurance products as per the need of weather risk and flexibility for farmers to take up insurance for a particular critical stage of crop growth or for the entire crop cycle. The company has also introduced text messaging for contract farmers to update them about the weather conditions from the sowing to the harvestin...
Insight: "ICICI Lombard offers customised crop insurance" deleted from your view.
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Yes
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3
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2
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No
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Prasad PN
| Argues in support of
"Yes"
| 2 years ago
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It is prudent to banks to take cover for the education loan like housing loans etc. The Term Insurance cost for students will be very low due to their young age once the period of cover is limited to 5 to 10 years. In the unfortunate event of...
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Niranjan Meena
| Argues in support of
"No"
| 2 years ago
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I don't think so, in many cases like the death of a student, the company has to incur loss and if this process happens with many, the company will face many problems. Thus its not a fair idea to cover the risk by students...
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SHARATH CHANDAR REDDY
| Argues in support of
"No"
| 2 years ago
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Banks are worried about their NPAs, basically not beacuse of the risk of death of the individual, but because of the risk of the individual not being traceable after taking loan and going abroad for studies. For the risk of death, insurance...
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Debate: "Insurance cover for study loans - Is it a viable business for insurance companies?" deleted from your view.
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