The insurance sector in india

The insurance sector in india INTRODUCTION INSURANCE SECTOR IN INDIA The Insurance sector in India governed by Insurance Act, 1938, the Life Insurance Corporation Act, 1956 and General Insurance Business (Nationalisation) Act, 1972, Insurance Regulatory and Development Authority (IRDA) Act, 1999 and other related Acts. With such a large population and the untapped market area of this population Insurance happens to be a very big opportunity in India. Today it stands as a business growing at the rate of 15-20 per cent annually. Together with banking services, it adds about 7 per cent to the countrys GDP .In spite of all this growth the statistics of the penetration of the insurance in the country is very poor. Nearly 80% of Indian populations are without Life insurance cover and the Health insurance. This is an indicator that growth potential for the insurance sector is immense in India. It was due to this immense growth that the regulations were introduced in the insurance sector and in continuation Malhotra Committee was constituted by the government in 1993 to examine the various aspects of the industry. The key element of the reform process was Participation of overseas insurance companies with 26% capital. Creating a more efficient and competitive financial system suitable for the requirements of the economy was the main idea behind this reform. Since then the insurance industry has gone through many sea changes .The competition LIC started facing from these companies were threatening to the existence of LIC .since the liberalization of the industry the insurance industry has never looked back and today stand as the one of the most competitive and exploring industry in India. The entry of the private players and the increased use of the new distribution are in the limelight today. The use of new distribution techniques and the IT tools has increased the scope of the industry in the longer run. PRESENT SCENARIO OF INSURANCE INDUSTRY India with about 200 million middle class household shows a huge untapped potential for players in the insurance industry. Saturation of markets in many developed economies has made the Indian market even more attractive for global insurance majors. The insurance sector in India has come to a position of very high potential and competitiveness in the market. Indians, have always seen life insurance as a tax saving device, are now suddenly turning to the private sector that are providing them new products and variety for their choice. Consumers remain the most important centre of the insurance sector. After the entry of the foreign players the industry is seeing a lot of competition and thus improvement of the customer service in the industry. Computerization of operations and updating of technology has become imperative in the current scenario. Foreign players are bringing in international best practices in service through use of latest technologies The insurance agents still remain the main source through which insurance products are sold. The concept is very well established in the country like India but still the increasing use of other sources is imperative. At present the distribution channels that are available in the market are listed below. Direct selling  · Corporate agents  · Group selling  · Brokers and cooperative societies  · Banc assurance  · Customers have tremendous choice from a large variety of products from pure term (risk) insurance to unit-linked investment products. Customers are offered unbundled products with a variety of benefits as riders from which they can choose. More customers are buying products and services based on their true needs and not just traditional money back policies, which is not considered very appropriate for long-term protection and savings. There is lots of saving and investment plans in the market. However, there are still some key new products yet to be introduced e.g. health products. The rural consumer is now exhibiting an increasing propensity for insurance products. A research conducted exhibited that the rural consumers are willing to dole out anything between Rs 3,500 and Rs 2,900 as premium each year. In the insurance, the awareness level for life insurance is the highest in rural India, but the consumers are also aware about motor, accidents and cattle insurance. PLAYERS OF INSURANCE COMPANIES IN INDIAN MARKET LIFE INSURANCE COORPORATION OF INDIA ICICI PRUDENTIAL BIRLA SUN LIFE BAJAJ ALLIANZ SBI LIFE INSURANCE HDFC STANDARD TATA AIG MAX NEW YORK AVIVA OM KOTAK MAHINDRA ING VYSYA MET LIFE MEANING OF QUALITY SERVICE: (Quality of Service) Consistent performance. Certain network services need to be delivered at a certain minimum performance level to be useable for example, a video or audio clip will stutter and break up if the bandwidth is inadequate. QoS refers to a network systems ability to sustain a given service at or above its required minimum performance level. Short for Quality of Service, a networking term that specifies a guaranteed throughput level. One of the biggest advantages of ATM over competing technologies such as Frame Relay and Fast Ethernet, is that it supports QoS levels. This allows ATM providers to guarantee to their customers that end-to-end latency will not exceed a specified level. REVIEW OF LITERATURE Studies on life insurance consumption dates back to Heubner (1942) who postulated that human life value has certain qualitative aspects that gives rise to its economic value. But his idea was normative in nature as it suggested how much life insurance to be purchased and not what will be purchased. There were no guidelines regarding the kind of life policies to be selected depending upon the consumers capacity and the amount of risk to be carried in the product.The ongoing discussion also reveals that individuals current income and future anticipated consumption expenditure plays a crucial role in determining the amount of insurance purchased (we are, for a while ignoring the form in which insurance is purchased). The importance of rate of interest or the impatience factor is also worth considering. Preferences over different consumption pattern vary from person to person and there are qualitative factors which affects such preferences. Using the expected utility framework in a continuous time model, Yaari (1965) studied the problem of uncertain lifetime and life insurance. Including the risk of dying in life cycle model, he showed conceptually that an individual increases expected lifetime utility by purchasing fair annuities. Simple models of insurance demand were proposed by Pratt (1964), Mossin (1969), Smith (1968) and others; considering a risk adverse decision maker with an initial wealth. The results indicate that demand for life insurance varies inversely with the wealth of the individuals. Hakansson (1969) used a discrete-time model of demand for financial assets and life insurance purchase in particular to examine bequest motive in considerable detail. Headen and Lee (1974) studied the effects of short run financial market behavior and consumer expectations on purchase of ordinary life insurance and developed structural determinants of life insurance demand. They considered three different sets of variables: first, variables stimulating demand as a result of insurer efforts (e.g. industry advertising expenditure, size of the sales force, new products and policies, etc.); second, variables affecting household saving decision (e.g. disposable, permanent and transitory income, expenditure expectation, number of births, marriages, etc.) and lastly, variables determining ability to pay and size of potential markets (e.g. net savings by households, financial assets, and consumer expectation regarding future economic condition). They concluded that life insurance demand is inelastic and positively affected by change in consumer sentiments; interest rates playing a role in the short run as well as in the long run. Pissarides (1980) further extending Yaaris work proved that life insurance was theoretically capable of absorbing all fluctuations in lifetime income. Lewis (1989) found out that the number of dependents as an influence on the demand for life insurance. To sum up, the theoretical review yields macroeconomic variables like income, rate of interest, and accumulated savings in wealth form; along with a set of demographic or social variables having potential impact on an individuals decision to opt for or not to demand insurance. Life insurance consumption increases with the breadwinners probability of death, the present level of familys consumption and the degree of risk aversion. OBJECTIVES OF RESEARCH To find that which factors people keep in their mind sat the time of getting any insurance policy. TO know the service quality of insurance companies in Jalandhar city To know the perception of customers regarding insurance service in Jalandhar city. RESEARCH METHODOLGY Research is the systematic and objective identification, collection, analysis, dissemination and use of information for the purpose of improving decision making related to the identification and solution of problems and opportunities in making. RESEARCH DESIGN- DESCRIPTIVE RESEARCH FOR my study I have choose descriptive research design because in my study I have to know the effect of motivational forces. In this I have describe the effect of motivational forces. DATA SMPLING Data extent- Jalandhar (Punjab) Sample size-60 Sampling technique-Stratified sampling DATA COLLECTION PRIMARY DATA- Questionnaire SECONDARY DATA- Journals, magazine, newspaper. For my project, I have decided on primary data collection method by filling up the questionnaire from customers residing in jalandhar city I also followed secondary data collection method using various websites, journals and magazines for collecting information under my term paper project. LIMITATIONS Research was limited to Jalandhar city only. Some of the respondents were not ready to give proper response feeling risky to feel the questionnaire. Some of them were feeling unsecured by filling up the questionnaire. Most of the people were not aware of the importance of life insurance service in their life. They are not aware how useful life insurance can be for their family members if something happens to them. They are of the view that Insurance policies do not give good results They are not aware of modern unit linked insurance plans .they are still under the perception that if they take insurance they will get only 5-6%returns which in not true now days. People are still today not aware of the earning opportunity that an insurance service provides. FINDINGS LIC is the best service provider as compared to other insurance companies. Maximum of the respondents are not aware of benefits provided by insurance policies. Most of the people give more importance to life insurance policies as compared to other insurance policies. People think public insurance companies provide more security than private ones now days. Most of the people are also of the view that services provide by public insurance companies are better than private companies that is why most of them get insured their self and their family in public insurance company now days.

What Is Diabetes Type 1 Health And Social Care Essay

Type 1 Diabetes, which can be used to be called juvenile oncoming or Insulin-Dependent Diabetess Mellitus ( IDDM ) and normally appears during childhood, teenage old ages, or early maturity. It is an autoimmune disease, intending that the immune system has mistaken its ain pancreas for foreign tissue and destroys the pancreatic cells that produce insulin, which is a endocrine. As a consequence, people with Type 1 Diabetes produce about no insulin ( 1 ) . Furthermore, IDDM is largely inherited by the parent cell as the research said if you have a household member with Type 1 Diabetes, your hazard is approximately five to six per centum, compared to the hazard in general population which is 0.4 % ( 2 ) . Diabetes was the 7th prima cause of decease listed on U.S. decease certifications in 2006. This ranking is based on the 72,507 decease certifications in 2006 in which diabetes was listed as the underlying cause of decease ( 3 ) . Therefore, are at that place any possible solutions to g et the better of this job? Neuropathic ulcer may show on the pess of diabetic people. Beginning: hypertext transfer protocol: //www.epodiatry.com/resource/images/Edmond.gif ( 178 WORDS ) A POSSIBLE Solution Insulin pump therapy Alpha cell secrete glucagon Raises glucose degree Islet cell of the pancreas Beta cell secrete glucagon Lowers glucose degree In the Islet cell of pancreas, Beta cell makes insulin. When immune system destroys beta cell, insulin can non be produced. As a consequence the cells in our organic structures will non be able to treat the glucose and hence have no energy for motion ( 6 ) . Furthermore, the glucose is unable to be transferred from blood stream to the cells and the glucose degrees in the blood will be higher than normal. Hence, insulin pump therapy is needed to get the better of this job. ( 283 WORDS ) Insulin pump is a little mechanical device, a small larger than a beeper that is worn outside the organic structure, frequently on a belt or in a pocket. It delivers insulin into the organic structure via an extract set which is injected beneath the tegument at the extract site ( 7 ) . Nipro Diabetes Systems Amigo OmniPod Insulin Management System Nipro Diabetes Systems Amigo OmniPod Insulin Management System Examples of insulin pump. Beginning: hypertext transfer protocol: //www.childrenwithdiabetes.com/pumps/index.htm Graph 1 shows the age distribution at the clip of diagnosing for members of the Insulin Pumpers. Beginning: hypertext transfer protocol: //www.insulin-pumpers.org/about.shtml From graph 1, we can see that most of the users of pumpers are kids and adolescents. About 1119 insulin pumpers have been recorded until 25th of December 2009, which shows a great figure of populations that had been infected with this disease. ( 407 WORDS ) Over the old ages, a figure of different types and trade names of insulin have been developed to run into different demands.TypeBrand NameOnsetExtremumDurationRemarksFast playing Humalog Novolog 5 – 15 proceedingss 45 – 90 proceedingss 3 – 4 hours Human The fastest-acting insulin available Intermediate moving Humulin L Humulin N Novolin L Novolin N 1 – 3 hours 6 – 12 hours 20 – 24 hours Human Long moving Humulin U 4-6 hours 18-28 hours 28 hours Human Normally used in combination with a faster-acting insulin to supply proper control at mealtimes Ultra-long moving Lantus 1.1 hours No extremum Changeless concentration over 24 hours Human Injected one time day-to-day at bedtime Mixtures Humulin 50/50 Humulin 70/30 Novolin 70/30 Humalog Mix 75/25 Varies Varies Varies Varies Varies Varies The Numberss refer to per centum of NPH ( 1st figure ) and regular ( 2nd figure ) Available in phials, pen-fill cartridges, and prefilled panpipes 75 % NPL ( a new NPH preparation ) and 25 % lispro ; available in disposable pen. Beginning: hypertext transfer protocol: //www.lifeclinic.com/focus/diabetes/supply_insulin.asp The end of insulin pump therapy is to copy the insulin secernment form which can be seen in people without diabetes. Normally there are two form of insulin release: Basal insulin or background insulin which is continuously released from the beta cells and regulates the glucose production from liver. Bolus insulin, which is insulin released in response to nutrient and controls the glucose alterations after repasts ( 2 ) . There are four types of bolus form which can assist the pumpers to find what is best for any given nutrient and by accommodating the bolus form to their demands, it will better control of blood sugar. Standard bolus.JPGExtended bolus.JPG Combo bolus.JPGSuper bolus.JPGSource: hypertext transfer protocol: //en.wikipedia.org/wiki/Insulin_pump All the graphs show the bolus form in order to find what the best nutrient is should be taken in order to better control of blood sugar. The standard bolus people should take low protein and low fat repasts while extended bolus diabetic covering high fat high protein repasts such as steak, which will be raising blood sugar for many hours past the oncoming of the bolus. Furthermore, those who have combination bolus is appropriate for high fat repasts such as pizza and cocoa bar but the ace bolus people must take certain nutrients ( like sugary breakfast cereals ) which cause a big post-prandial extremum of blood sugar. It attacks the blood sugar extremum with the fastest bringing of insulin that can be practically achieved by pumping. SOCIAL AND ECONOMIC IMPLICATION First and first, after being diagnosed as diabetic, some of them can non accept the fact and take some clip to mourn their loss. Some of them might fell depressed for illustration Katherine G who was diagnosed with diabetes and maintain inquiring what had I done incorrect? And wanted to thwack every overweight individual she saw ( 1 ) . They besides worried about the following coevals as Type 1 Diabetes is inherited and acquire stress believing about the complication of diabetes which cause them to utilize wheelchair because has no pess and besides being wheeled in order to utilize the dialysis machine. They may lose their ego regard to confront the universe. Some might be under force per unit area as they have to be strict on their nutrient consumption as they have to follow the diet for diabetic and they need to take a batch of medical specialty and besides injection. In order to acquire the intervention for diabetes, more money has to be disbursement as the pumpers are high in cost. Diabetes impacting the earning or active member of the household affects non merely that single but might frequently hold important consequence on the household. The economic load of diabetes is increasing as the epidemic grows. As per WHO estimates, diabetes drains a important per centum of the wellness budget by cost towards direct diabetes attention and diabetes related disablements. Diabetess associated complications account for 60 % of diabetes related direct wellness attention costs and about 80-90 % of indirect costs. In India, for illustration, the poorest people with diabetes spend an norm of 25 % of their income on private attention. The most that they can pay for are interventions that keep them alive by blunting the highest, rapidly fatal degrees of blood sugar. In 2007, the universe is estimated to pass at least USD 232 billion to handle and forestall dia betes and its complications. By 2025, this lower-bound estimation will transcend USD 302.5 billion ( 11 ) . BENEFIT AND RISK Advantages BEST hbA1c ‘s before the pumpBEST hbA1c ‘s utilizing the pump The graph shows the hbA1C degree before and after utilizing insulin pump. Beginning: hypertext transfer protocol: //www.insulin-pumpers.org/about.shtml The degree of hbA1C lessenings with an norm of 6.3 after utilizing the insulin pump. So, it can take down the hazard of developing long-run complications for case shot, bosom disease, sightlessness, kidney failure and besides amputation. Pumpers have been shown to see lesser episodes of terrible hypoglycemia than those who take injections, including during the dark. Clinical surveies shown that utilizing fast moving insulin, the glucose control can be improved with less hazard of hypoglycemia. Furthermore, the pumper can maintain up-to-date with their day-to-day agenda. They are flexible to travel and free to make what they want for illustration they can maintain on the pump during exerting in the eventide. Insulin pumpers require an extract set alteration merely approximately three times a hebdomad, or 156 interpolations a twelvemonth but the injection can accomplish mean more than 1,400 injection per twelvemonth. Disadvantages An episode of diabetic diabetic acidosis aa‚ ¬ † province of unequal insulin degrees ensuing in high blood force per unit area and accretion of organic acids and ketones in the blood may take topographic point if the pumpers do non have sufficient sum of fast acting insulin for many hours. There is high hazard of infection if the catheter site of cannula has non been changed every three yearss and besides skin reactions such as roseolas may look at the site of cannula. This therapy is really expensive as pumps are high monetary values. By utilizing insulin therapy, the society might cognize that you have diabetes since this is one of the popular ways to bring around it ( 12 ) . Some of diabetic might develop film overing vision shortly after get downing insulin due to a alteration of lens refraction and it will rectify itself within two to three hebdomads ( 13 ) . ALTERNATIVE SOLUTIONS Diet for diabetics If diabetes people eat excessively much, diabetic control will deteriorate but if they eat excessively small, leads to hypoglycaemia. Carbohydrate must be taken in little sums for aged and sedentary but in big sum for active people like adolescents. This must be taken at chief repasts illustration breakfast, tiffin and dinner ( 13 ) . When taking on empty tummy, intoxicant can take down down the glucose degree. Diabetics should restrict saccharide in liquid signifier as they are quickly absorbed. Furthermore, they should extinguish all refined sugars and starches and must intake a batch of fibre-rich veggies and fruits in their diet. This is because fibers slow down glucose soaking up and prevent high glucose degrees after repasts. They must take protein and restricted ruddy meats and besides trans-fats. Saturated fats must be reduced and take a batch of bosom healthy mono-saturated fats and omega 3. Exerting Peoples, who exercise on a regular basis, when compared to those who do non exert, diminish their opportunity of developing diabetes by 30 to 50 % . Exercise aid by bettering the bodyaa‚ ¬a„?s to utilize insulin and causes cholesterin degree and blood force per unit area to drop ( 14 ) . Aerobic exercising Burnss Calories to assist in pull offing the weight, beef up the bosom and lungs and gives endurance. In other word, it improves the bodyaa‚ ¬a„?s ability to utilize insulin and prevent diabetes. We must make warm up and chill down earlier and after exerting. Take at least 20 proceedingss and three times a hebdomad to exercising. Furthermore exercising can increase the consumption of glucose by musculuss therefore increase in carbohydrate consumption. We must take adequate saccharide before exerting but overdose of saccharide will consequences in hyperglycemia. As diabetes, insulin must be sufficient before and after exercising because strenuous exercisi ng and deficient insulin will decline diabetic control ( 15 ) . Supplement vitamin and herbs Vitamin E helps fade out fresh coagulum in venas and cut down the O demand of tissue and cell. Furthermore, it besides helps to from new tegument ( in mending the ulcer and Burnss ) and increases the blood supply to weave, therefore reduces diabetes sphacelus and amputations. Vitamin E reduces the demand for insulin in 30 % of diabetes ( 16 ) . Biotin is B vitamin that maps in industry and usage of saccharide, fat and amino acids. It enhances insulin sensitiveness and increase the activity of enzyme glucokinase, enzyme responsible for the first measure in the usage of glucose in liver as this enzyme is low in diabetic. It besides helps in the intervention of diabetic neuropathy ( 17 ) . Evaluation

Hypertension Is Characterized By Chronic Elevated Blood...

Background Hypertension is characterized by chronic elevated blood pressure1. It can be a predisposing factor or secondary to heart failure. In the US, there are 75 million individuals who have hypertension with two thirds of individuals 65 years or older diagnosed. Various factors can contribute to the development of hypertension including renal disease, thyroid disease, dysregulation of hormones, and alcohol consumption. The disease also highly correlates with age as even individuals 55 years old with normal blood pressure have a 90% lifetime risk of developing hypertension with age. Left untreated, hypertension can result in retinopathy, cardiomyopathy, and stroke with the most common cause of death being coronary artery disease. The diagnoses of hypertension is primarily done by the monitoring of blood pressure with multiple readings of systolic pressure greater than 140 mmHg and diastolic pressure greater than 90 mmHg indicating stage one hypertension1,2. The evaluation of the eyes, heart, thyroid, and renal system are also important in understanding the cause and extent of hypertension. Initial treatment involves lifestyle and diet modifications such as exercise, smoking, cessation, and limited sodium intake. Patients unresponsive to lifestyle and diet modification or have a blood pressure greater than 160/100 mmHg are recommended by the American Heart Association to begin drug therapy. Current JNC-8 guidelines dictate the goal of treatment to reduce blood pressure

Comparative Essay Outline Fahrenheit 451 vs. the Time...

â€Å"The Time Machine† and â€Å"Fahrenheit 451† Comparative Essay Today in many parts of the world there are an estimated one hundred tribes completely unconnected from modern society, and with their isolation unaware to them, members believe that there is perfect balance in their community. (http://www.dailymail.co.uk/news/article-2094362/Cut-outside-world-Closest-recorded-pictures-uncontacted-Indian-tribe-depths-Perus-forests.html. Overlooking their hardships, these people are true to their beliefs and refuse to acknowledge another way of life, except the one which they already know. This false sense of utopianism, common even in many developed nations today, is illustrated by great works of fictional literature such as â€Å"Fahrenheit 451† by†¦show more content†¦| â€Å"Any man’s insane if he thinks he can fool the government and us†(Bradbury, 31) | He is in other words saying that those who act differently from the rest of society, do not belong to the society. He is taking this past a perspective of criminality and suggesting that owning books is a social flaw. | CONCLUSION: Characters in these novels lack the ability to differentiate from other members of their society and cannot part themselves from what they have been taught. Their uniformity ranges from mere obeying rules, to casting those who are not similar far away from society. ARGUMENT #2: learning INTRODUCTION: Both the Eloi and the citizens in â€Å"Fahrenheit 451† have a lack of will for learning, and do not seem the smallest bit interested in gaining knowledge of literature, contrasting the idea that they live in a perfect society. Supporting Points | Proof | Analysis | Eloi are not interested in learning about where the Time Traveler has come from. | â€Å"A queer thing I soon discovered about my little hosts, and that was their lack of interest.† (Wells, 31) | The Eloi have no interest in gaining information from the Time Traveler and have no questions which seems odd. | Mildred, Montag’s wife is uninterested in finding out about her husband’s life, and has a very short attention span. | â€Å"She was obviously waiting for him to go† (Bradbury, 17) |Show MoreRelatedDeveloping Management Skills404131 Words   |  1617 PagesManaging Stress 106 Stress Management Assessment 106 Time Management Assessment 107 Type A Personality Inventory 108 Social Readj ustment Rating Scale 109 Sources of Personal Stress 111 SKILL LEARNING 112 Improving the Management of Stress and Time 112 The Role of Management 113 Major Elements of Stress 113 Reactions to Stress 114 Coping with Stress 115 Managing Stress 117 Stressors 117 Eliminating Stressors 120 Eliminating Time Stressors Through Time Management 121 Eliminating Encounter Stressors Through