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Name01-Jan-1970
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" THE INDIAN INSURANCE MARKET AND THE EFFECT OF THIS REDUCTION IN REINSURANCE PREMIUM
This indicates some shrinkage of reinsurance premium. long-term. munich re expects reinsurance to grow in line with primary insurance . only then there will be market stability for the primary insurance sector and security for policy holders, post detariffing in the financial years 2007-08 the reinsurance premium ceded amount has remained flat despite the market gross written premium registering double digit growth.
SHARE BUSINESS IN THE INDIAN REINSURANCE MARKET
India however, is an important market for munich re. committed to clients here and support the industry with seminars training courses and much more.
STRATEGIES AND ACTION PLAN
the law permits and if the business case is variable at the time. munich Re sticks to a very consistent strategy worldwide. before any growth initiatives ensure a solid technical base to guarantee its profitability. new product development and distribution technical support at the front  line and ultimately our strong balance sheet reinsurance arrangement as a strategic part of their overall risk and capital management , other than just a pure transaction , such change of mind will allow premium providers like munich re to add value to their clients lines of operations.
THE GENERAL MARKET SCENARIO IN RESPECT OF REINSURANCE BUSINESS WORLD OVER.
The industry faces a variety of challenges and opportunities . these include climate change natural catastrophes as well as new emerging risks from megacities to obesity in life and health reinsurance. with excellent risk management. many people realized during the financial crisis that globalization implies risks they had never even thought of simultaneously , risks are becoming more and more complex in an increasingly connected world. insurance and reinsurance with deep expertise in risk can help managing these interconnected risk factors and achieved growth at risk adequate prices. one crucial challenge for the reinsurance industry will be how to grow .this is still possible when consider what has changed due to the financial crisis. one remarkable effect is increasing risk awareness.
 
NATURAL HAZARDS ASSESSMENT NETWORK (NATHAN )
NATHAN is munch Re’s NATURAL Hazards assessment network . it include the most up-to- date geoscientific expertise and provides services such as interactive maps of natural hazards, extracts from the munich Re natcatsrvice database and country profiles that include socioeconomic and hazard data. it is one of many tools that assists munich Re’s clients to expertly asses their natural catastrophe risks.
 
FORESEE ON REINSURANCE RATES ACROSS VARIOUS LINES OF BUSINESS
cover against is typically offered as an add-on with property insurance . premium for terror cover are ceded to a national pool. hence increased terrorism can possibly only impact.
THE OVERALL PERFORMANCE OF MUNICH RE IN THE LAST FISCAL
Munich Re has announced another share buy back with a volume of up to 1bn. the first quarter 2010 also brought munich re a good quarterly result due to large gains fro investment disposals. the natural catastrophe burden was unusually high. this shows again which climate change and the consequence directly affect our business and are a strategic issue for munich re. on one the growing number of service natural catastrophes is causing greater loss risk. munich re increased profit by almost two-thirds in 2009 and surpassed market expectations. this success was founded on our broadly based business model with a wide diversification the consistently economic and risk based management of our business and our fundamentally prudent approach . on the other combating climate change brings new technologies and opens up new segments with major growth opportunities for the insurance industry. Munich Re is a leader in developing such products. guarantee cover for solar panels is one examples hoe munich re supports an innovative industry.
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Name01-Jan-1970
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" FGI
The company , future general India insurance Co. ltd FGI is promoted by future group , the leading retail group in India and general one of the leading insurers in the world. as per the relevant regulations 74% of the equity is held by the Indian partner and 26%, the capital of the company as on 31st march 2010.
COMPETITION IN THE GENERAL INSURANCE MARKET IN INDIA
The Indian insurance market has been growing even after de-tariffing unlike many markets abroad which de-grew on de-tariffing. also the penetration level of general insurance is much lower compared to developed markets. hence there is still untapped geographies and clientele which can be used by the general insurance companies to grow. like any other market which got de-tariffed, in India also there had been reduction in price for some of the profitable business lines. there have been some upward trends in pricing in some of the loss making portfolio like group health.
MALLASSURANCE STORES IN INDIA
This is a new distribution channel that we are developing. our partner being the leader in retail has considerable experience and expertise in understanding the Indian consumer an leveraging this experience in selling retail insurance products . the channel is still in the development stage and believe this has potential to become one of the major distribution channel for us.
THE CORPORATE BUSINESS FOR GROWTH OF THE COMPANY
Mix of 60% retail and 40% corporate business this year and continue to write business of corporate clients value for services
MOTOR AND HEALTH INSURANCE LOSS MAKING PORTFOLIOS
these two lines of business are growing well market are expected to be close to 70% of the total market premium In the next two years . this means that any insurer who want to be a significant player in the market cannot ignore these lines of business. proper underwriting and claims control it would be possible to make profit in these lines of business.
THE USUAL TURNEROUND TIME FOR ISSUE OF POLICY AND SETTLEMENT OF CLAIM
for claim settlement the time frame for retail claims vary from 3 to 15 days depending on the completion of repairs and submission of documents. for many of the retail products over the counter policy issuance facility and wherever this has not been made use the turnaround time for policies is less than 3 days. for bigger claims the time varies from 30 days to 60 days depending on the completion of the survey and assessment repair etc. it is our continued effort to innovate in claim settlement process so that reduce the time frame, make the claim settlements more convenient and transparent to the customer.
PERFORMANCE IN RURAL AREAS
operating through 63 offices and more than 160 retail outlets of partners . many of offices are close to rural areas and accessing rural markets from there, in the next FY would be establishing more offices which will give more access to rural market . rural obligation as required under the regulation.
USP IN COMPARISON
USP has been create convenience to the customer for buying policies and getting serviced be transparent with our partners and customers excel in service and live up to the promises. think about insurance protection during good days so as to enjoy the good times through out your life.
 
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Name01-Jan-1970
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" WORKING
ERGO
HDFC ERGO is a joint venture between HDFC limited and ERGO international AG, each respectively holding 74% and 26% . HDFC limited is the premier housing finance institution in India since 1977, ERGO one of the leading insurance companies in Germany is the direct insurance arm of Munich Re. ERGO is Europe’s no. 1 insurance company in health and legal expenses insurance and has presence in over 30 countries in Europe and Asia. the company is adequately capitalized for the current scale of business. the capital base as on date is Rs 415 corers.
THE GENERAL INSURANCE MARKET IN INDIA
In line with the international experience , post de-terrifying, the industry has seen pricing volatility. its still some time away for the industry to find the right some pricing levels. approach of the competition is driven by their respective strategies however some friends are discernible. the entry of new players have added new dimension to the dimension to the competitive landscape vying share of the pie which has not grown significationtly. on the product side, it’s still early days to see the differentiated products being offered in the market though , one finds some riders to products like motor being introduced.
ISO CERTIFICATION
In keeping with commitment to our customers, the company has been continuously working on improving the internal processes and system to ensure delivery of quality services on consistent basis. happy to receive ISO 9001:2008 certification for our claim services . his certification validates HDFC ERGO’s conformity with internationally established standards for quality systems and assurance in claim processing. the rating reaffirms HDFC ERGO’s foundation strong parentage & the robust security that it offers to its customers . An insurance company’s core product is claims steps show casing our unceasing commitment towards our customers.
INNOVATIVE COVERS
Clinical trial insurance is one of such products. this product covers legal liability that ma arise on research institutes and drug manufacturing companies undertaking clinical trials . the cover offers protection, against unanticipated disablement including loss of life etc. the liability claim can be presses against the unsure company by affected person and or their legal heir. the policy offers protection to the insured company and its employees from legal liability arising out of the provision of professional services.
BUSINESS MODEL IN TERMS OF CORPORATE
In line with our vision to be a significant player in the market, it’s incumbent that we maintain a healthy mix of all lines of business. retail and corporate lines complement each other balancing the business portfolio of a company in the long run. the company is a multi-product company focusing on all lines of business. as the company grows in a steady state.
MOTOR AND HEALTH LOSS MAKING PORTFOLIOS
the loss rations are quite adverse. Focusing on specific customer segments which feel can give better results. on the health insurance front, a well-diversified retail portfolio can yield positive results and we are planning to grow this of business through banc assurance, agency and direct channels.
THE USUAL TURNAROUND TIME FOR ISSUE OF POLICY AND SETTLEMENT OF CLAIM
Multiple options for the customers for buying policy , like online solution wherein the policy is available at customer’s convenience at click of a button, instant policy at point of scale at various channel partners office/locations and application form based policy issuance from our central office which is been issued within 7 working days. the payment is directly made to the workshops and hospitals respectively.
ONLINE SELLING OF POLICIES
Online business is a success for us on both aspects from the prism of sales as well as service. products like motor, health and travel are available online. these products can be purchased instantly with minimum documentation offering customers a hassle free and convenient platform to buy insurance anytime, on the service , customers can renew their policies online, view the current status of claims and request any changes in the policy . A clear indicator of the convenience provided by the online platform is that currently approx 10 % of our motor policies get renewed online. online sales initiative recently and most of retail product range can now be purchased online. there is still s long way to go on this front
COMPLIANCE RATIO IN RURAL AND SOCIAL SECTOR OBLIGATIONS
The company is fully compliant with respect to social and rural sector obligations as specified by IRDA. A separate business unit to not only ensure compliance with mandated business but also to develop this market which has huge growth potential.
USP IN COMPARISON WITH OTHER PLAYERS
The company operates with its core values such as sensitivity, ethics, enthusiasm and dynamism . our business proposition is built around these values. this offers trust, innovation transparency and service to all its customers claims service has been the USP of the company resulting in one of the best settlement ratios and lowest customers. grievances in the industry. in addition , the company derives a lot of strengths fro our parentage the brand and distribution reach of HDFC and global experience and technical expertise of Munich Re. 
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Name01-Jan-1970
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" EFFECT OF REDUCTION IN REINSURANCE
Some of the companies are keeping the retention levels as low as 10 percent and the reinsurer is not getting due share of the premium while we continue to pay out huge claims. the rates have fallen to some of the lowest levels ever and as a matter of fact are now scraping the bottom. the companies are doing business at the cost of the reinsurers. the market needs to be disciplined in terms of pricing. the general  insurance companies to retain more risks on their books, to encourage the insurers to be diligent in their underwriting we have offered to share a portion of our profits from the reinsured risks . this profit commission would be over and above the commission that we pay when they pass on their liability to us.
PREMIUM INCOME
Today the pricing is much better and areas like aviation , energy , credit and liability offer growth opportunities. these make us go cautions pace. the domestic market has come down considerably and now almost 48% of our business accurse from the overseas portfolio of our business.  half of the corporation’s premium income to come from overseas markets. today the pricing is much better offer growth opportunities . these makes but cautions pace. 
TERRORISM POOL
The terrorism pool is working well. some cases GIC re’s role is that of a pool manager. the capacity to provide terror cover up to INR 7500 million per location. the size of the pool is at INR 1500 million as on date. the capacity offered by the pool has grown from INR 2000 million per location. this goes to show that the pool has lived up to the objective of building up capacity within the country for providing adequate terrorism insurance cover over the years. the Indian terrorism insurance pool covers property insurances whether taken by individuals or corporate.
THE CREDIT RATING OF COMPANY
This is 4th year in running. the Indian agency CARE too has retained the AAA rating for the corporation for the current year.
INFORMATION TECHNOLOGY
The corporation is utilizing a CAT modeling and risk management software system to asses the exposure at any single location. online connectivity to our producers, the brokers is also being worked out. enterprise risk management system implementation in the corporation is in an advanced phase. enterprise risk management is a structured  and ongoing process to assess, mitigate and monitor the risks that the corporation faces in achieving its objectives by integrating its inherent capabilities. 
CATASTROPHIC LOSSES AND DISASTERS
Reinsuring risks arising out of natural catastrophes in Asia and Africa has already been set up by the federation of afro Asian insurers and reinsurance . GIC Re has been chosen to be the manager of this pool. further modalities of the fair Nat-cat pool are being worked out.
LIFE INSURANCE BUSINESS
life insurance is major thrust and drive area for us since it has a huge global market in 2008. marketing and servicing of business with GIC Re introductions to the life market players In India .we are strengthening our capabilities in life reinsurance by recruiting more technical and underwriting staff, training them and also by aggressively marketing our services in this area.
EFFORTS OF GIC RE IN PERSPECTIVE
there are management committees at the corporate level dealing with underwriting , HR polices and information technology . very recently we have also implemented the whistle blower policy despite the fact that this is a non-mandatory requirement. to improve transparency in decision making process in the corporation as part corporate government we have implemented various IRDA government.
 
 
nytimO?ntP?p?e , customers can renew their policies online, view the current status of claims and request any changes in the policy . A clear indicator of the convenience provided by the online platform is that currently approx 10 % of our motor policies get renewed online. online sales initiative recently and most of retail product range can now be purchased online. there is still s long way to go on this front
COMPLIANCE RATIO IN RURAL AND SOCIAL SECTOR OBLIGATIONS
The company is fully compliant with respect to social and rural sector obligations as specified by IRDA. A separate business unit to not only ensure compliance with mandated business but also to develop this market which has huge growth potential.
USP IN COMPARISON WITH OTHER PLAYERS
The company operates with its core values such as sensitivity, ethics, enthusiasm and dynamism . our business proposition is built around these values. this offers trust, innovation transparency and service to all its customers claims service has been the USP of the company resulting in one of the best settlement ratios and lowest customers. grievances in the industry. in addition , the company derives a lot of strengths fro our parentage the brand and distribution reach of HDFC and global experience and technical expertise of Munich Re. 
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Name01-Jan-1970
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" THE PROMOTERS OF THE COMPANY
Religare enterprise limited is the largest shareholder of religare health insurance company limited, Religare health insurance does not have any foreign partnership . REL is a global financial services group with presence across Asia, Africa, middle east Europe and the Americas. the group ha salsa pioneered the concept of investments in alternative assets classes such as arts and films. with 10000 plus employees across multiple geographies, REL serves over a million clients including corporate and institutions high net worth families and individuals and retail investors. REL is part of a family of companies that fall under the broader religare brand , which includes other global business such as diagnostics, aviation and travel wellness retail and IT products and solutions.
THE CURRENT INDIAN HEALTH INSURANCE MARKET
the health insurance market has seen stupendous growth in terms of premium and penetration which has been largely due to the huge untapped market waiting to be explored . the premiums have grown at 30-35% annually in the last 5 years and the trend is expected to continue for the next 5 years as well. the key success factors over the next few years would be product design transparent customer communication ,comprehensive coverage and quality of service to enhance customer trust.
USP OF COMPANY
reliance health insurance company has the advantage of being promoted by entities which have a strong focus on both healthcare and financial services. religare health insurance will focus on providing comprehensive coverage to the customer at an affordable premium . instead of merely competing on price , religare aims at providing higher value to the customer through comprehensive products, superior service and closely associated provider networks.
HEALTH INSURANCE OF LOSS MAKING PORTFOLIOS
Religare health insurance will put in place following risk management practices in place to ensure that there is no erosion of value to the services to the customer at an affordable price on a sustained basis. fraud management philosophy network and efficient data analytics team relegate would also develop local knowledge through an active fraud management team based out of various office locations to ensure that correct control measures to detect frauds are in place . provider network closely monitored serviced provider network to enhance customer experience, underwriting policies – robust underwriting philosophy lead by data analytics and technology for adequate risk profiling of the customer.
 
 
 
PROPER AND TIMELY SERVICING OF POLICIES BY TPA’S
Religare health insurance intends in the development of the right products and setting up of a closely monitored provider network to enhance customer experience both in terms of offering and service. besides the above areas , religare intends to invest deeply in technology across all areas of operations including claims administration. this would not only reduces the turn around time of servicing the customer but also ensure complete clarity at all stages of interaction and introduce a high level of transparency in this process and thus eliminate customer grievances arising out of delay and information asymmetry. technology will also enhance the efficiency in the claims administration process by detecting and eliminating frauds and malpractices.
KEY CHANNEL OF DISTRIBUTION OF PRODUCTS
Religare health insurance aims to be a pan India player with presence in group . retail and rural segments. besides leveraging on the synergies with the huge distribution network of group companies, religare health insurance will operate through distribution channels including agency channel , banc assurance, direct sales, online portals and alternate channels.
PRODUCTS LAUNCH IN INITIAL STAGES
in the retail segment besides the traditional indemnity product , reliance health insurance will offer a comprehensive array of products providing critical illness benefit. personal accident and disability benefit among others across all categories including group products and travel products. religare health insurance intends to work for the rural customer by participating in government led insurance programs through public private partnership as this is an effective way to ensure the health security of the masses.
 
 
 
 
a P?x?xt-align:justify'>The company is fully compliant with respect to social and rural sector obligations as specified by IRDA. A separate business unit to not only ensure compliance with mandated business but also to develop this market which has huge growth potential.
USP IN COMPARISON WITH OTHER PLAYERS
The company operates with its core values such as sensitivity, ethics, enthusiasm and dynamism . our business proposition is built around these values. this offers trust, innovation transparency and service to all its customers claims service has been the USP of the company resulting in one of the best settlement ratios and lowest customers. grievances in the industry. in addition , the company derives a lot of strengths fro our parentage the brand and distribution reach of HDFC and global experience and technical expertise of Munich Re. 
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Name01-Jan-1970
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THE PROMOTERS OF MAX BUPA HEALTH INSURANCE
Bupa’s international health insurance and customer service expertise with max India’s understanding and experience of the health care and life insurance sectors in India . max india limited is a multi-business corporate driven by the spirit of enterprise and focused on people and service oriented business. Bupa is a leading international healthcare provider. established in 1947, it has over ten million customers in more than 190 countries and employs over 52,000 people around the world. its main interest are health are health insurance care homes for young disabled and older people workplace health services, health assessments and chronic disease management services including health coaching and healthcare services in the home.
THE USP OF HEALTH INSURANCE PRODUCTS
At max bupa health insurance company limited, thus, it is our constant effort to offer comprehensive products and focus on building a long term healthy relationship with the customer and his family by being transparent from the beginning itself. in addition to comprehensiveness of this health policy which suit the customer needs, this plan also helps them care for their health proactively over time and according ti their profile. this health insurance plan covers expenses like In patient treatment, hospital accommodation, maternity, family care benefits and health checkups.
TPA
The insurance company is faceless and the TPA is the one dealing with the customer leading that could lead to inconsistent service delivery at the time of claims settlement . the customer and always be there for him at all times. this decision of not to use TOAs will help us build a long term partnership with all our customers directly and ensure that ew deliver quality service ourselves. max Bupa employs the expertise of it parent company, Bupa, who has the global expertise of operating without TPAs in over 190 countries.
CUSTOMER TO LEAD A HEALTHY LIFE STYLE IN REDUCTION OF CLAIMS
Max bupa believes that a healthy relationship is built by understanding customer needs by coming closer to them through a continuous dialogue. health insurance is not just a build and nurture with our customers. to ensure uninterrupted services to our policyholders also to offer access to health advice when customers need it, max bupa has set-up a health pre-authorization, plan payment related queries and claim information. second e-opinions for critical medical conditions and direct servicing to process all claims directly by an in house customer services team are some of the other steps in this direction.
HEALTH RELATIONSHIP PROGRAMS
The health relationship programmed offers a number of benefits to our customers to manage their health proactively, these include. health benefits like vaccinations, health products etc on renewal, health check up on renewal, health information relevant to customer life stages and profiles through eCRM, members log in page for storing customer information, links and records on their claims transactions. health coaching tools to enable customers to improve their health and participate in marking decisions on their, leveraging bupa expertise and localized  Indian requirement.
DELAY IN SETTLEMENT OF POLICIES RESOLUTION OF DISPUTES
Complete transparency in the intial stages to ensure better customer satisfaction at the time of claim imbursements, the Indian consumer’s mindset today when it comes to trusting their insurance partner and hence ensure responsible and transparent enrolment to minimize pain at time of claim. it is important that the customer understands covered.
SALE OF POLICIES
max bupa health insurance plan using internet over the telephone directly through our sales team or through an agent the distribution principle adopted in line with our philosophy of serving our customers as per their requirement and convenience are: national footprint, multi channel approach, own the customer, selling according to customer needs,.
HEALTH INSURANCE INDUSTRY IN INDIA REGARDING PREEXISTING DISEASES
As per the IRDA clause on pre-existing diseases , benefits will not be available for any conditions as defined in the policy until 48 months of continuous coverage has elapsed since inception of the first policy, max bupa also adheres to this regulation, customers are aware of any exclusions to their policy at the time of signing up for the policy hence underwriting is completed at the time of sale and not at the time of claim.
THE HEALTH INSURANCE MARKET
Indian insurance market is still in nascent stages in comparison to other markets. market of huge potential as health insurance in India is under penetrated, it is one of the most promising sectors in Indian non life insurance industry today, India is witnessing increasing healthcare expenditure with every passing year. the fast changing lifestyle is bringing in various related diseases and challenges therein. the answer though lies in comprehensive disease management. on the supply side , more professionally managed hospitals and health care facilities entering the market . with talks of health insurance getting separated from other general insurance sectors, there should be more focus on improving quality of services delivery for customers most of the existing health policies do not cover full day care benefits, dental services vision services, preventative care like free health checkups. the industry will see a number of innovations which will benefit the customers.
 
 
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Name01-Jan-1970
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THE PROMOTERS OF STAR HEALTH
Star health was promoted 26% foreign direct investment and 74% Indian industrialists. in the balance 74% through a special purpose vehicle 70.67% of investment was made and the balance through individuals. recently Rs. 1000 corer was invested by ICICI venture capital through private placement.
THE RESPONSE FOR SURPLUS INSURANCE POLICIES
The policies are doing well. insurance awareness is slightly spreading and need for taking up surplus insurance policy with low cost and disease specific policies with reasonable cost is taken by public so that any eventuality will be properly taken care of.
TPA
The pulse of our clients direct rather than through some other media so also direct dealing with clients will always enable us to study the disease pattern etc on day to day basis.
EDUCATE CUSTOMER HEALTHY LIFE STYLE
this is a very essential part with this in mind. bringing out a magazine periodically for our policy holders. probably ours is the only company which is bring out such a magazine for reeducating our clients.
SELLING ONLINE POLICIES
Senior citizen policy from 60 years to 67 years for whom the medical test is not required, med classic policies., optima. health gain up to the age of 50 years since o medical check up is required selling them through one line. as well as super surplus and travel policies also being sold on line.
RURAL AND SOCIAL SECTOR
The largest insurer for BPL population both in tamilnadu and in andrapradesh covering about 2.5 corer families.
COMPANY FOR ISSUE OF POLICIES AND SETTLEMENT OF CLAIMS
our turnaround time will not be more than 4 days for issue of policies so also settlement of claims under cashless 8 to 12 hours and for reimbursement 15 days.
??oe??*?stomer experience, underwriting policies – robust underwriting philosophy lead by data analytics and technology for adequate risk profiling of the customer.
 
 
 
PROPER AND TIMELY SERVICING OF POLICIES BY TPA’S
Religare health insurance intends in the development of the right products and setting up of a closely monitored provider network to enhance customer experience both in terms of offering and service. besides the above areas , religare intends to invest deeply in technology across all areas of operations including claims administration. this would not only reduces the turn around time of servicing the customer but also ensure complete clarity at all stages of interaction and introduce a high level of transparency in this process and thus eliminate customer grievances arising out of delay and information asymmetry. technology will also enhance the efficiency in the claims administration process by detecting and eliminating frauds and malpractices.
KEY CHANNEL OF DISTRIBUTION OF PRODUCTS
Religare health insurance aims to be a pan India player with presence in group . retail and rural segments. besides leveraging on the synergies with the huge distribution network of group companies, religare health insurance will operate through distribution channels including agency channel , banc assurance, direct sales, online portals and alternate channels.
PRODUCTS LAUNCH IN INITIAL STAGES
in the retail segment besides the traditional indemnity product , reliance health insurance will offer a comprehensive array of products providing critical illness benefit. personal accident and disability benefit among others across all categories including group products and travel products. religare health insurance intends to work for the rural customer by participating in government led insurance programs through public private partnership as this is an effective way to ensure the health security of the masses.
 
 
 
 
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Name01-Jan-1970
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SELLING HEALTH INSURANCE POLICIES
new technologies making their way to our shores and an urbanizing population beset by a sedentary lifestyle and new diseases. nandan nilekani recently observed , aptly, that India is substituting poor country diseases with rich country diseases practically overnight. health insurance believes that preventive care is an important as curative care. and health insurance plans provide various value added benefits like health risk assessment, access to a 24-hour health line, wellness journal etc, Health cover for medical treatment of illnesses and accidents that require in-patient hospitalization, diagnostic procedures, boarding and lodging, ICU surgery cost and prosthetic costs among others and also critical illness cover as an option.
THE ONLINE SELLING RENEWAL OF HEALTH POLICIES
An existing client can enter the policy number of his health insurance plan and get the policy renewed instantly. Apollo Munich offers a 100% secure online transaction facility to its existing and prospecting customers for online policy purchase and renewal.
GOOD DATABASE OF CUSTOMERS
Reaching greater numbers of people and making them aware of health insurance plans and its benefits is the core of our communication objectives. Apollo eco-system promises to facilitate the same and may utilize each of the touch points within system to sensitize larger group of people on the importance and benefits of health insurance.
THE PERFORMANCE OF TPA’S IN INDIAN MARKET
In the recent past has been more than one incident where an insurer has moved away from a TPA set-up to an in-house claims management systems. at the same time, pay genuine claims and have enough checks and balances in place to repudiate non-genuine claims. on the other hand Apollo Munich identifies with the value that a TPA brings and has been successfully working with multiple TPAs across INDIA for hassle fro claims experience. one important thing that business to ply claims.
CUSTOMERS NEEDS TO BE EDUCATED ON A CONTANT BASIS ABOUT INSURING
More importantly the young generation must be educated to understand the benefits of holding an individual health insurance policy and not be dependant on group policies provided by their employers, given the nature of job movement these days. the potential is huge but to facilitate larger reach and penetration , it is imperative to consistently increase our initiatives to communicate the advantages of taking health insurance and that too at an early age, so that the burden of hospitalization costs do not tax people later on. an individual health insurance policy will remain with the person regardless of change in job or location or any other event.
Today health insurance at least figures in an individual’s priority list but it is not yet in the priority list , to bring about this change the steps the actions and the noise which is being created by the industry is in the right direction.
OPERATING OFFICES
Apollo Munich has been constantly growing its base to enhance its reach and penetration. at present there are 30 branch and regional offices beside a corporate office at gurgaon. by the end of the current year, envisage to operate out of 55 different offices and 30 unique locations.
STANDALONE HEALTH INSURANCE COMPANIES
The health insurance segment, since penetration stands at 3% of the population market potential is never in question. more the number of players more would be the noise they make. new players will ensure that the market opens up and awareness level increase. as well as an industry on the whole.
SAL E OF POLICIES
Presently agency sales force is the most dominant of all our channels and help generate maximum part of the premium income for the company, Apollo Munich uses multiple distribution channel to map the country and enhance reach primarily through agents, corporate agents, strategic partners ,travel agents ,sales associates and direct sales force. there are over 10,000 agents working across the country and the same would increase by 5000 every year till reach 4000 by 2014-2015, the possible regulatory changes in terms of us getting access to the bancassurance channel alongside a life and a general insurance company. this can enable us to enhance our reach in the most cost effective manner. as the campaign stated, Apollo Munich will take the fear out of faces. the jargon out of words, the bitter out of medicine and trouble out of treatment to uncomplicated healthcare and more specifically health insurance.
 
 
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Name01-Jan-1970
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THE DUAL CERTIFICATION OF ISO
This is very proud moment being the first general insurer in the Indian market to receive dual certifications in the first full year of operation is a commendable achievement. being ISO 9001:2008 certified means that we meet international standards on good management practices and customer services the help us live up to our quality policy of providing fast, fair and friendly service to customers and partners.QMS and customer oriented professes have well defined and documented procedures, which are backed by periodic audits and performance reviews as well as continual improvement methodology the enable us to perform tasks right first time and every time. these certifications are important for any company the is customer focused, especially insurance where trust is a huge factor for success.
THE GENERAL INSURANCE MARKET IN INDIA
profitability , especially in the commercial business has dropped by over 90 percent due to intense competition. company have started focusing more on the retail lines of business especially health and motor as opposed to commercial lines of business. hopefully the industry will be more proactive and will ensure that rates stabilize over the next year.
USP IN COMPARISON WITH OTHER PLAYERS
several product and service USPs. on the product front our new motor add on covers now make it possible for our customers to avail of coverage due to car accident for both themselves as well as fellow passengers. these covers include ambulance charges as well as hospitalization fees which are first of their kind in the market. the policy covers the difference amount , if any between the actual healthcare expenses of an insured and the sum assured of their existing health insurance plan for a particular claim and ensures adequate financial protection for critical contingencies, especially in view of rising healthcare costs. a recent survey conducted by grant Thornton has shown that customer services plays a critical role in influencing customer buying decisions when it comes to insurance products. in the same survey.
TRADE CREDIT PRODUCT
which provides companies with coverage for outstanding receivables , protecting the insured against risk of non-payment by its buyers. these include extension of coverage during guarantee period , payment of fire fighting expenses, extension to cover loss or damage to project cargo during inland transit ,non vitiation clause as well as extension of cover during partial take over phase.
 
RETAIL INSURANCE MARKET IN INDIA IS LARGELY UNEXPLORED
concentrate on health ,motor and home for the urban and non urban retail consumers. all these three segments are underpenetrated and fest growing . we plan to develop distribution to deliver these products via banc assurance as well as working with SHGs/NGOs etc use the distribution opportunities provided by bharti especially in rural India.
THE USUAL TURNAROUND TIME FOR ISSUE OF POLICY AND SETTLEMENT OF CLAIM
for motor and health our claims settlement is immediate in case it is a cashless settlement in any of our 1600 network motor garages or 4000 hospitals in case the cashless facility is not available at the claim will be settled within is not available at the service centre or hospital .in terms of policy issuance for our pre underwritten or over the counter products our policy issuance is also instant. similarly our motor policy thanks to our internet enabled IT platform can be issued instantly and for our health .
CONGENIAL WORKING ENVIRONMENT
Power of Ideas programmed which is a systemized idea generation platform gathers ideas from employees across the company and rewards and implements the best ones. this encourages the healthy exchange of feedback across departments as well as encourages participation and empowerment. works towards the implementation of practices to encourage a health work life balance across as well as encourage more women to join the company. satisfaction and perceptions about the company and gives us direction for further improvement of our work atmosphere as well as feedback on current practices .
 
 
 
 
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Name01-Jan-1970
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" DETEARIFFING OF THE INDIAN INSURANCE MARKET
The detariffing was done from 1st January 2007 so that is not really the eve of detariffin. as usually happens the detariffing has resulted into deep cuts in rates due to stiff competition. normally after detaruffing it takes three to four years for the rates to reach a sustainable level. the discounting from the erstwhile tariff rates has resulted into unsustainable rates being charged. we also should be seeing the rates stabilizing now and gradually reaching their economic levels . already indications suggesting the same are emerging. market will also  be pushed for correction by the reinsurers.
THE FAMILY FLOATER POLICY FOR HEALTH INSURANCE
last launched the family floater policy for health insurance, IRDA also permitted add on to be given on top of the tariff policy .add on covers under the standard fire & special peril policy housebreaking , gynamo clause/electrical apparatus clause, spontaneous combustion , boiler explosion damage clause, accidental damage clause. new product development is an ongoing process and set up a research and development wring in the oriental staff training college at Faridabad.
RETAIL INSURANCE MARKET IN INDIA IS LARGELY UNEXPLORED
Retail market in India is potentially very large and I agree largely unexplored. technology to help us in growing in this market the traditional method of growing in this market by strengthening the agency channel will also get more attention. totally focused on the same. our approach to this is going to be two ponged.
MOTOR AND HEALTH INSURANCE LOSS MAKING PORTFOLIOS
The motor third party rates which are still terrified need revision . motor own damage is not a loss making segment . in a number of states we have already started having constant interaction with the police authorities .In view of the increase in the compensation awarded by MACT on account of constant rise in income levels and no increase in the premium as this segment id still terrified the overall segment remains loss making. the health portfolio is concerned the policy for group health insurance is that each policy in this segment will have to stand on it own and a lot of correction has taken place and is taking place in this direction.
CUSTOMER SERVICE IS DIFFERENTIATING AN INSURANCE COMPANY
customer service is on the top of our mind. the only large company which already has core insurance in place which Is a very important tool to upscale the service to customers. already started services centers in many parts of the country where the TAT for various service parameters are constantly monitored. CRM application which will ride on this core insurance so as to enable us to attend to the needs of our customers comprehend-sively.application which will ride on this core insurance so as to enable us to attend to the needs of our customers comprehend-sively. most of the customer complains can be attended to in real time. as of grievances can be lodged on portal also.
 
 
RSBY SCHEME
the state of Delhi and various districts in states of Punjab, Bihar, Jharkhand, Maharashtra, Chhattisgarh and Gujarat. the task of implementing this scheme involves a lot of coordination with the various authorities, TPAs and our own various offices. we believe that the scheme successfully in the districts allocated to us.
PERFORMANCE IN RURAL AREAS
There is a huge potential to reach out to the rural and needy customers. plan to strengthen efforts in this area and already a rural insurance vertical is operating at HO. further in order to provide us with the reach.
ONLINE SELLING OF POLICIES BUSINESS
One of the few companies and the only PSU having this capability. The process of making this capability fully known to people. at the moment private motor , householders policy , shopkeepers policy individual health , and overseas medic aim can be purchased by our customers directly from the net. more than treating this as a marketing channel to get more business it is a service which is required by a large number of people.
RESPONSSIBILITY OF SERVING THE SOCIETY
In this connection the forefront of providing the protection of insurance to the persons in the real areas and people below poverty line. many micro insurance policies, universal health insurance for the BPL families and group personal accident policies for the rural areas. these insurance although not inherently loss making require a lot of marketing effort. for the weaker section of the society issued many micro insurance policies , pedal rickshaw policies fisheries insurance policies etc. besides to provide the cover for insurance to the remotest areas.
 
 
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Name01-Jan-1970
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" THE GENERAL INSURANCE MARKET IN INDIA
Reliance brand is a household name in the country and at the time the sector was opened up for private sector participation promoters did not feel the necessity of a JV. at the same time some price correction in erstwhile non-tariff product lines such as health and marine. we expect to move towards pure risk based pricing gradually . De-trifling has resulted in extreme pressure on pricing on erstwhile tariff products on account of stiff competition.
ISO 9001: 2000 CERTIFICATION
RGIC has been ISO certified by DNV for almost 3 years now , reliance is the first insurance company to be certified for all processes across the organization. to a customer an ISO certification is an assurance of a quality product or service. the expectations of the customer automatically increase as they start looking at faster claim settlement the quality management system that is built , enables it to standardize processes, reduce cycles time rework , waste, increase customer satisficationand hence improve overall efficiency.
TERMS OF CORPORATE OF BUSINESS
 On retail segment we are going to focus on higher penetration with our retail channel franchises and also focusing cross sale opportunity and for corporate lines of business continued to be through broker and relationship team.
MOTOR AND HEALTH INSURANCE
healthcare awareness and the growth of the automobile industry make motor 7 health the fastest growing the fastest growing sectors with it the opportunities for insurance also get multifold right business mix is essential to drive a profitable business model with optimum pricing models and product mix catering to the varied requirement of these industries.
THE USUAL TURNAROUND TIME FOR ISSUE OF POLICY AND SETTLEMENT OF CLAIM
For policy issuance, the TAT is 7-10 days from receipt of complete and accurate documents at RGIC office to dispatch to customer, for claim settlement TAT is 7 days from the date of receipt of last document from customer.
 
 
DISTRIBUTION OF PRODUCTS
Lot of effort and energy is been channelized to further strengthen our agency channel as in India it is still the large premium on retail side is contributed by agency segment , retail distribution has helped to increase tool prints and business across all segment and geographies, the purpose of creation and able to generate desired result on gross nos. to product or geography focused approach. Initiated various interaction modules where re-training on process, UW  and claims are been imparted through IT and branch infrastructure. Travel is another channel which add lot of value to system and increase the travel insurance pie by means of tapping new geography and segments. Every channel is unique for described result on gross nos. to product or geography focused approach.
INITIATIVES IN THE FIELD OF TRAINING OF ADVISORS
 This provides a continuous learning experience available on demand at the most remote locations, to those who need it the most. flexible combinations of new technology like E-learning platforms with conventional class-room methods  to deliver knowledge inputs on general insurance concepts products and processes. for both employees and advisors the experience is enhanced learning at a fraction of the cost of conventional class-room program.
 
 
 
nC?l>P???yle='font-size:14.0pt;line-height:115%'>RESPONSSIBILITY OF SERVING THE SOCIETY
In this connection the forefront of providing the protection of insurance to the persons in the real areas and people below poverty line. many micro insurance policies, universal health insurance for the BPL families and group personal accident policies for the rural areas. these insurance although not inherently loss making require a lot of marketing effort. for the weaker section of the society issued many micro insurance policies , pedal rickshaw policies fisheries insurance policies etc. besides to provide the cover for insurance to the remotest areas.
 
 
"


Name01-Jan-1970
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Name
0
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