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INSURANCE
INDUSTRY
CSR
Technical
Corporate
Strategy
HR
Finance
IT Reinsurance
& Investments
Marketing
Assistants
Marketing Officers
Assistants
Agents/Financial advisors
Underwriting
The entire gamut of activities which go into acceptance of
risks by insurers.
Entails risk inspection, scrutiny of proposals, decision on
acceptance/rejection of proposals, fixing of premium
rates, setting special policy conditions etc.
A line function at the operational level.
Insurers maintain a panel of experts due to specialized for
of insurances like project insurance, aviation insurance,
livestock insurance etc.
Underwriting dept.-functions
Separate depts. Exist for term/ endowment policies for Life.
Headed by Underwriting Manager/Officer in an operating office.
Assistants in each section, Fire/ Marine/ Motor/ Miscellaneous.
Need to be discreet in risk acceptance and also have a good
Underwriting documents
Proposal-form
Medical certificate
Premium-receipt
Policy
Endorsement
Cover-note
Renewal-receipt
Inspection report
Claims Management
Entails all activities which handle losses preferred by
Claims Management
Headed by Claims Manager/Officer.
Assisted by assistants in the different areas.
Responsible to avoid needless leakages on fraud/inflated
Claims-documents
Life insuranceDeath certificate/ Post-mortem certificate
Claim form
Survey/Assessment report
FIR
Investigation report
Repair-estimate
Accounts
Headed by Accounts Manager/Officer.
Responsible for correct maintenance of records
Sales
Headed by Sales Manager
A team of Development or Marketing officers report to
Sales Manager.
Each Marketing officer is assigned a territory and the
business target for a financial year is given.
Monetary incentives are given for business growth as well
as for profitability of business procured.
Penalties are also fixed for non-achievement of business
targets.
Each Marketing officer is allocated a team of Insurance
agents/financial advisors who work on commission basis
but are not employees of the Company.
Sales/Marketing organization
Operating
Office
(Branch/Division)
Broker
Marketing
Executive
Agent /
Insurance
Advisor
Agent/
Insurance
Advisor
Corporate
Agents
Bancassurance