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Resources » Articles/Knowledge Sharing » General »
Bangalore University - B.Com 6th Sem - Management of Insurance Business (Insurance Group)
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MANAGEMENT OF INSURANCE BUSINESS (Elective Paper - X)
OBJECTIVES:
This paper aims at
i. giving an insight into the working of an insurance company.
ii. high-lightens the managerial issues in different functional areas of management like HR, Finance, Marketing and Operations
MODULE – 1:
Organisation structure of insurance business; HR practices in Insurance business, training and development, compensation, incentives.
MODULE – 2:
The insurance market - Marketing programmes – Research – Customer services – Consumer Protection Act – Customer charter – Distribution channels.
MODULE – 3:
Accounting and Finance
Accounting for insurance business - compliance with IRDA rules - Taxation.
Investments, evaluation of investments - Capital structure - cost of capital, solvency margin and compliance. Financial ratios – critical ratios and analysis, control system. Insurance company output and cost.
Difference in Accounting Practices between Life and General Insurance – Reserve funds – investments – capital structure – solvency margin – deposits with Government
MODULE – 4:
Insurance Operations
Claims management, policy holder servicing, Consumer protection act and IRDA, Rights and duties of clients, appeals – grievance redressal. Back-office operations BPO. IT and insurance.
MODULE – 5:
Regulations of insurance – Insurance Act (1938). IRDA – salient features.
Laws relating to insurance, GIBNA, Insurance Act, W.C. Act, ESI Act, Compulsory PLI Act, M.V. Act, Marine insurance Act, Carriage of Goods by Sea Act, Carrier’s Acts, Law of Contract, Foreign Exchange Regulations.
Books for Reference:
1. M.N. Mishra; Insurance Principles and Practice; Sultan Chand & Co., New Delhi.
2. Pande; Insurance Principles and Practice.
3. M.J. Mathew; Insurance Principles and Practice.
4. Julia Holyoake / Bill Weipers; Insurance.
5. C. Arthur Williams, Jr. , Michael L. Smith, Peter C. Young; Risk Management and Insurance.
6. Insurance Regulatory Development Act 1999 and other relevant Acts.
7. Life Insurance Corporation Act 1956.
8. Gupta O.S.: Life Insurance; Frank Brothers, New Delhi.
9. Vinayakam N., Radhaswamy and Vasudevan SV: Insurance – Principles and Practice, Sultan Chand & Co., New Delhi.
10. Mishra M.N: Life Insurance Corporatin of India, Vols I, II and III; Raj Books, Jaipur.
11. Dinsdale M.A: Elements of Insurance.
12. Srinivasan M. N: Principles of Insurance Law.
13. New & Bacon: Principles and Practice of Life Assurance.
14. Books published by Insurance Institute of India, Bombay.
a. Principles of Life Insurance
b. Practice of Life Assurance
c. Life Assurance under writing
d. Legal Aspects of Life Assurance
e. Principles of General Insurance
f. Fire Insurance subjects
g. Marine Insurance subjects
h. Miscellaneous Insurance subjects
i. Legal Digest
15. Books published for vocational courses in Life assurance and general insurance.
16. Sharma R.S: Insurance Principles and Practice.
17. Dhavi B.S: Insurance Principles and Practice.
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