In India, insurance has a deep-rooted history.
It finds mention in the writings of Manu (Manusmrithi),
Yagnavalkya (Dharmasastra) & Kautilya (Arthasastra).
The writings talk in terms of pooling of
resources that could be redistributed in times
of calamities such as fire, floods, epidemics
and famine. This was probably a pre-cursor to
modern day insurance. Ancient Indian history has
preserved the earliest traces of insurance in
the form of marine trade loans and carriers’
contracts. Insurance in India has evolved over
time heavily drawing from other countries,
England in particular.
Today, only one business, which affects all
walks of life, is insurance business. That’s why
insurance industry occupies a very important
place among financial services operative in the
world. Owing to growing complexity of life,
trade and commerce, individuals as well as
business firms are turning to insurance to
manage various risks. Therefore a proper
knowledge of what insurance is and what purpose
does it serve to individual or an organisation
is therefore necessary. Insurance is a mechanism
that ensures an individual to thrive on adverse
consequences by compensating the individual
his/her loss financially. Every individual in
this world is subject to unforeseen and uncalled
for hazards or dangers, which may make him and
his family vulnerable. At this place, only
insurance helps him not only to survive but also
recover his loss and continue his life in a
normal manner, which would otherwise be
unthinkable.
The term insurance can be defined in financial
as well as in legal terms. The financial
definition deals with the funding or financial
arrangement of the losses whereas the legal
definition deals with provisions relating to
legally enforceable contract.
This 8 Volume Encyclopaedia will be quite useful
for understanding different facets of Insurance
Business, Corporate Procedures and Practices,
Life Insurance, General Insurance, Agency
Management Customer Relations, Insurance Claims,
Products and Services, besides Case Studies in
Insurance Business.
Contents
Volume 1
business development and
management practices
Preface
(v)
1. Economic Activities and
Business
1
2. Nature and Purpose of
Business
9
3. Business
Environment
21
4. Forms of Business
Organisation
33
5. Identifying Business
Opportunities–Insurance
Sector 53
6. Fundamentals of
Accounting
59
7. Communication
83
8. Management of Small
Business
Firm
97
9.
Basics of
Marketing
121
Agency Management
10. Team Management at
Work
139
11. Team Management
Skills
143
12. Measuring Work
Preferences
149
13. Balanced
Teams
157
14. The Managerial
Linker
163
15.
Star Performer Advantage
Rules
179
direct marketing
16. Contemporary Direct
Marketing
185
17.
Planning a Direct Marketing
Programme
203
18.
Mailing Lists: Processing and
Selection
215
19.
Insurance
Marketing
221
network marketing
20.
If You Don’t Like Your Results, Change Your
Approach 225
21.
We Live in a World of
Copycats
229
22.
Personal Selling
Strategy
235
23.
The Job of an Insurance
Manager
245
24.
What is “True”
Wealth?
253
25.
Recruiting Sales
Personnel
261
26.
Linear Growth: Trading Time for
rupees 265
27.
Selling in Private Sector
Environment
271
28.
Leveraged Growth: Working Smarter, Not
Harder 279
29.
What is
Marketing
285
30.
Goals, Daydreams and
Chores
295
customer relationship management
31. The Art of Building
Customer
Relationships
329
32. Salesmanship—An
Introduction in
Mind 335
33. Principles of Quality
Service
341
34. One-on-One Sales: Database
Marketing
351
35. Battling the Giants: How
to Compete with the Big Guys—
And
Win!
357
36.
Doing Good and Making
Money
363
Volume
2
Insurance Business in India
37. History of Insurance in
India
373
38. Doctrine of Insurance and
its
Policies
385
39. Policies and
Programmes
393
40. Life Insurance
Market
421
41.
Policy Loans and
Underwriting
433
42.
Key Insights on the Insurance Sector of
India 455
43.
History of
Insurance
473
44.
Functions of
Insurance
529
45.
Major Policy
Changes
539
46.
Insurance in the 21st
Century
549
47.
Insurance Career in
India
557
48.
Insurance and Rural
India
565
Glossary
589
Volume 3
Insurance Regulations
49.
Insurance Regulatory and Development Authority
Act 597
50.
Consumer Protection Act,
1986
605
51.
Ombudsman
Scheme
609
52.
The Indian Contract Act
1872
613
53.
Married Women’s Property Act
1874
623
54.
Indian Stamp Act
1899
625
55.
Indian Railways Act
1989
627
56.
The Carriers Act
1865
631
57.
Indian Post Office Act
1898
635
58.
Public Liability Insurance Act
1991
637
59.
Workmen’s Compensation Act
1923
641
60.
Employee’s State Insurance Act
1948
643
61.
Laws Related to Marine
Insurance
645
62.
Indian Income Tax Act
1961
647
63.
The Motor Vehicle Act
1988
671
64.
Insurance
Act
681
Volume
4
Corporate Procedures and Practices
Part I:
Life insurance (Underwriting and Claims)
65.
Introduction
831
Underwriting: Life insurance
66.
Importance of
Underwriting
841
67.
Issue of
Policy
853
68.
Policy Servicing—Renewal Premium
Collection 857
69.
Deposits
859
70.
Revivals
867
71.
Alteration in
Policies
873
72.
Duplicate
Policy
881
73.
Discounted Value of
Premium
885
74.
Nomination and
Assignment
887
75.
Non-Forfeiture, Paid-up Value Surrender
Value 893
76.
Loans
897
Life Insurance Claims
77.
Life Insurance Claims
905
78.
Claim Procedures Followed by Life Insurance
Corporation
of
India
909
Part
II:
General Insurance (Underwriting and Claims)
Underwriting: General Insurance
79.
Underwriting
919
80.
Choice of Sum
Insured
925
81.
Underwriting (Fire
Insurance)
931
82 .
Underwriting (Marine
Insurance)
935
83.
Underwriting (Motor
Insurance)
949
84.
Underwriting (Engineering
Insurance)
957
General
Insurance Claims
85.
Claims
967
86.
Fire Insurance
Claims
981
87.
Marine Cargo
Claims
1005
88.
Motor Insurance
Claims
1023
89.
Engineering Insurance
Claims
1033
Volume
5
life insurance principles, practices,
products and services
Principles of Insurance (Life)
90.
Risk and
Insurance
1039
91.
Insurance
1051
92.
History of
Insurance
1065
93.
Insurance
Contract
1077
Practice of Insurance (Life)
94.
Life Insurance–An
Introduction
1083
95.
Utmost Good
Faith
1089
96.
Insurable
Interest
1097
97.
The Insurance
Sector
1101
98.
Practice of Life
Insurance
1105
99.
Insurances
Documents
1109
100.
Computation of Benefits Bonus, Paid up and
Surrender Value 1135
101.
Claims
1145
102.
Life Insurance
Products
1155
103.
Term Life
Insurance
1159
104.
Endowment
Insurance
1165
105.
Whole Life Insurance
Policies
1171
106.
Annuity
Policy
1177
107.
Insurance in Pension Plans and Group
Insurance 1199
108.
Health
Insurance
1213
109.
Social and Rural
Insurance
1219
110.
The Tools of Rate
Making
1227
111.
Computation of
Premium
1247
112.
The Best
Policy
1293
Volume 6
case studies in life insurance
113.
Life Insurance: An
Introduction
1301
114.
Tax and Life
Insurance
1317
115.
Policy and
Plans
1361
116.
Insurance Companies in
India
1371
117.
Types of Life Insurance
Policies
1403
118.
Need of Life
Insurance
1431
119.
Life Insurance and
Contract
1461
120.
Life Insurance: Tips, Traps and
Suggestions 1515
Volume
7
general insurance principles,
products and services
Principles of General insurance
121. General Insurance: An
Introduction
1543
122. Utmost Good
Faith
1551
123. Insurable
Interest
1559
124.
Indemnity
1565
125.
Proximate
Cause
1579
126.
Features of an Insurance
Contract
1585
PRACTICES OF GENERAL INSURANCE
127.
The Practice of General
Insurance
1591
128.
Forms in General
Insurance
1601
129.
Rating–Theory and
Practice
1613
130.
Reinsurance
1627
131.
Claim
1633
132.
The Practice of
Underwriting
1645
133.
Risk
Management
1653
Products of General insurance
134.
Fire
Insurance
1675
135.
Marine
Insurance
1701
136.
Motor Insurance
1721
137.
Personal Accident
Insurance
1737
138.
Health
Insurance
1753
139.
Liability
Insurance
1775
140.
Engineering
Insurance
1785
141.
Miscellaneous
Insurances
1793
142.
Rural
Insurances
1813
143.
Insurance in Social
Sector
1833
Volume 8
case studies in general insurance
144.
General
Insurance
1843
145.
Auto Insurance : An
Overview
1847
146.
Car
Insurance
1879
147.
History of Crop Insurance in India
1885
148.
Weather, Crop and Cattle
Insurance
1919
149.
Fire
Insurance
1937
150.
Industrial
Insurance
1947
151.
How Secure is Your
Home?
1953
152.
What is Office Umbrella
Policy?
1979
153. Crime and
Insurance 1983
