MMPF 011 Solved Assignment 2023-24
Management of Insurance Services
MMPF 011 Solved
Assignment 2023-24 : All assignments are in PDF format which would be send
on email/WhatsApp (9958676204) just after payment.
Assignment Code: ASST/ MMPF 011/2023-24
Marks: 100
Attempt all the questions.
Q1. Describe the role
of different insurance intermediaries and distribution channels for marketing
insurance products in India.
In India, the
marketing of insurance products involves various intermediaries and
distribution channels that play distinct roles in connecting insurers with
customers. These intermediaries facilitate the sale of insurance policies,
provide information, and assist in the overall process. Here are some key
players in the insurance market in India:
Insurance
Agents:
Role: Insurance
agents are individuals or entities who act as intermediaries between insurers
and policyholders. They sell insurance products on behalf of one or more
insurance companies.
Function: Agents
play a crucial role in advising customers on suitable insurance products based
on their needs. They earn commissions on the policies they sell.
Insurance
Brokers:
Role: Insurance
brokers are independent professionals or firms that work on behalf of the
policyholder. Unlike agents, brokers do not represent a specific insurance
company but rather serve the interests of the client.
Function:
Brokers assess the insurance needs of clients, analyze the market, and
negotiate with insurers to obtain the best coverage at the most competitive
rates. They earn commissions or fees for their services.
Corporate
Agents:
Role: Corporate
agents are business entities that are authorized by one or more insurance
companies to sell their products.
Function: These
agents often have a wide reach and can leverage existing business relationships
to distribute insurance products. They may include banks, financial
institutions, and other corporate entities.
Bancassurance:
Role:
Bancassurance refers to the distribution of insurance products through banks.
Banks act as intermediaries, offering insurance policies alongside their
banking products.
Function:
Bancassurance allows insurers to tap into the extensive customer base of banks,
while banks can enhance their product offerings and generate additional revenue
through commissions on insurance sales.
Direct
Marketing Channels:
Role: Direct
marketing channels involve insurers selling their products directly to
customers without intermediaries.
Function:
Insurers may use online platforms, mobile apps, or direct sales teams to reach
customers. This approach can reduce distribution costs and allows insurers to
have a more direct relationship with policyholders.
Role: Online
aggregators are digital platforms that compare and provide information on
various insurance products from different companies.
Function:
Consumers can use these platforms to compare premiums, features, and benefits
of different policies, facilitating an informed decision-making process.
Microinsurance
Agents:
Role: With a
focus on providing insurance to economically vulnerable populations,
microinsurance agents target low-income individuals and communities.
Function: These
agents often work in collaboration with microfinance institutions and other
community organizations to make insurance products more accessible to
underserved segments of the population.
In summary, the
insurance landscape in India involves a diverse set of intermediaries and
distribution channels, each serving specific roles in reaching and servicing
the varied needs of consumers. This multi-channel approach allows insurers to
cater to a broad customer base with different preferences and requirements.
Q2. Visit the website
of any Insurance Company and study the Group Insurance Schemes / products being
offered by the company. Prepare a report on the important features of any one scheme
in detail.
Q3. Discuss the
assumptions on which valuation of benefits is based while pricing of Life Insurance
Products.
Q4. Take the Annual
Report of any Insurance Company and trace the CSR activities of that company.
Give a report on the CSR activities and their significant contributions.
Q5. Discuss any two
health insurance products which according to you have come up with innovative
solutions for financing the health needs.
MMPF 011 Solved
Assignment 2023-24 : All assignments are in PDF format which would be send
on email/WhatsApp (9958676204) just after payment.
MMPF 011 Solved
Assignment 2023-24, MMPF 011 Solved Assignment 2023-24, MMPF 011 Solved Assignment
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