Sivaprakash Kalimuthu

Insurance is a means of protection from

financial loss. It is a form of risk
management primarily used to hedge against
the risk of a contingent, uncertain loss.
Policy holder: A person or entity who buys
insurance
Premium: The amount of money charged by the
insurer to the insured for the coverage set forth
in the insurance policy
 Methods for transferring or distributing risk were
practiced by Chinese and Babylonian traders as long
ago as the 3rd and 2nd millennia BC, respectively.
Separate insurance contracts were invented in Genoa in
the 14th century, as were insurance pools backed by
pledges of landed estates.
Insurance as a financial intermediary is a
commercial enterprise and a major part of the
financial services industry, but individual
entities can also self-insure through saving
money for possible future losses.
 Large number of similar exposure units
 Definite loss
 Accidental loss
 Large loss:
 Affordable premium:
 Calculable loss
 Life insurance
 General insurance
 Health assurance
 ULIP policy
 Corporate insurance
 Insurance based on export
 Term life insurance
 Permanent life insurance
 Endowment policies
 Money back policies
 Annuity and pension policies
 Motor insurance
Motor insurance is mandatory in India as per the
Motor Vehicles Act, 1988 and needs to be renewed
every year. Driving a motor vehicle without
insurance in a public place is a punishable offence.
Third party insurance is a statutory requirement in
our country i.e. the owner of the vehicle is legally
liable for any injury or damage caused to a third
party life or property, by or arising out of the use
of the vehicle in a public place.
Common motor insurance categories include:
Car Insurance
Two Wheeler Insurance
Commercial Vehicle Insurance
Health care costs are increasing every year.
Sedentary lifestyle and stress at work
negatively affect the health and can result in a
critical illness or medical emergency. Such a
scenario is sure to adversely affect one
financially, due to the massive outlay of money
on medical expenditure.
Common types of health insurance policies
include:
Individual Policy
Family Floater
Policy Surgery Cover Comprehensive
Health Insurance
 International travel, whether on vacation or
business, can turn into a nightmare if one
experiences contingencies like loss of baggage,
loss of passport, delay in flight, medical
emergency etc. Such eventualities will surely
take the fun away from travelling.
 Individual Travel Policy
 Family Travel Policy
 Student Travel Insurance
 Senior Citizens Travel Policy
Home is often the most treasured possession of
an individual and also the largest financial
investments one makes in life. Safeguarding
the physical structure and contents of home
seems like a logical thing to do.
 Business involves the import and export of
goods, within national borders and across
international borders. Movement of goods is
fraught with risk of mishaps which can result
in damage and/or destruction of shipments.
 Open Cover
 Open Policy
 Specific Voyage Policy
 Annual Policy
 Policies with ECGC
Insurance solutions to meet the needs of
agriculture and rural businesses form part of
rural insurance. IRDA has stipulated annual
targets for insurers to provide insurance to the
rural and social sector.
Commercial insurance encompasses solutions
for all sectors of the industry arising out of
business operations. Insurance solutions for
automotive, aviation, construction, chemicals,
foods and beverages, manufacturing, oil and
gas, pharmaceuticals, power, technology,
telecom, textiles, transport and logistics sectors.
It covers small and medium scale enterprises,
large corporations as well as multinational
companies.
 Property Insurance
 Marine Insurance
 Liability Insurance
 Financial Lines Insurance
 Engineering Insurance
 Energy Insurance
 Employee Benefits Insurance
 International Insurance Solutions
 NAV
 Assured amount
 Risk factor
 Brokerage
Thank you