Unit 3: Insurance Company Operations
Requirements of an Insurance Contract
For an insurance contract to be legally valid and enforceable, it must meet specific requirement...
Components of Insurance Contracts
An insurance contract (policy) is a legally binding document that outlines the rights and respon...
Underwriting
Underwriting is the process by which an insurance company evaluates the risk presented by an app...
Sales and Marketing Activities of Insurers
Sales and marketing are crucial functions for insurance companies, driving revenue growth and bu...
Claims Settlement
Claims settlement is a critical function of insurance companies, involving the process of invest...
Endorsements and Riders
Endorsements and riders are written provisions that add to, modify, or delete provisions in the ...
Deductibles – Concepts and Purpose
A deductible is a specified dollar amount that the insured must pay out-of-pocket before the ins...
Regulatory Framework of Insurance in India
The insurance industry in India is governed by a comprehensive regulatory framework designed to ...