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Insurance Essay Examples

Essays on Insurance

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Progressive Insurance Swot Analysis

Over decades operating in a highly competitive environment, the key strategy that makes Progressive the top three in the $165 billion US private passenger auto insurance industry is focusing on innovations and customer satisfaction. Established in 1937, from the beginning, Progressive approached the market with an innovative method by providing customers drive-in claims service and the ability to make monthly installment payments. That, on one hand, appealed more opportunities for people who could not afford paying insurance in lump sum…...

The Market for Lemons About Quality Of Product

The Market for "Lemons": Quality Uncertainty and the Market Mechanism discusses the problems and effects of asymmetric information within a market. Asymmetric information occurs when a seller knows more about the product than the buyer. When the seller withholds important information from the buyer, such as if the good is in proper working order, it creates dishonesty in the market, which drives honest sellers and buyers away. Akerlof understands that the cost of dishonesty can be detrimental as it may…...

HIPAA - The Health Insurance Portability and Accountability Act

HIPAA Abstract The Health Insurance Portability and Accountability Act, or better known as (HIPAA) began in 1996 as an Act to help individuals keep their health insurance as they moved from one job to another. As the future brought new advancements HIPAA evolved to include much more than portability. HIPAA now includes many complex rules to protect patient privacy along with the use of information technology that transfers medical records. HIPAA Nearly a decade ago, lawmakers tried to combine the…...

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Case Study: Transact Insurance Ltd

NB: You need to deal with your teammates. You're welcome to do it individually as well. Check out the case study of Transact Insurance Ltd. Use one of the models in the chapter on culture or the recommended posts to describe the culture of the organisation. Also determine the major influences on the development of that culture. Think about the modifications in the South African environment (competition, globalisation, employment equity, scaling down, need for development, etc), and suggest the viability…...

Literature Review on Insurance Management System

ABSTRACT Insurance system automates the management of insurance activities, which involves Defining Policies, Schemes, Policy Specifications, Policy Terms and Conditions, Policies registrations by the customers, Facilitates the Premiums Flexi-Pay modes, Policy Bonus in Flexible periods. The Agents are involved in the process of the Customer Policy registration and the Commissions are based on the targets achieved by the Agents. Insurance System also maintains the database of the Branch Managers who deals with the Agents which in turn deals with the…...

HIH Insurance Report

Executive Summary The auditing profession plays a significant role in industrialized economies for many years. In the insurance industry, the manner of auditing profession is regulated. The collapse of Health International Holdings (HIH) was recorded as the biggest corporate collapse in the history of Australia. Also an investigation of Royal Commission was warranted by the HIH collapse. Two questions considered in the failures of HIH Insurance: Did the auditors implement their responsibilities and roles? Did the auditors fulfil their auditing…...

Fire Insurance

Fire insurance is a contract under which the insurer in return for a consideration (premium) agrees to indemnify the insured for the financial loss which the latter may suffer due to destruction of or damage to property or goods, caused by fire, during a specified period. The contract specifies the maximum amount, agreed to by the parties at the time of the contract, which the insured can claim in case of loss. This amount is not, however, the measure of…...

Production and operation management

Part One: Multiple choices: 1. Production and Operations Management concerns itself with the conversion of: a. Outputs in to inputs b. Inputs in to outputs c. Outputs in to outputs d. None of the above 2. Continuous Production is a. The last operation to the finished product b. The first operation to the finished product c. The mid operation to the finished product d. None of the above 3. Independent demand is a. Demand that is controlled by the company…...

Week 4 Lab: Assessment Worksheet

1. What is the goal and purpose of a BIA? To identify which business units, operations and process are crucial to the survival of the business. A timeframe in which business functionality must be restored. Also identifies resources that will be necessary for business functionality. 2. Why is a business impact analysis (BIA) an important first step in defining a business continuity plan (BCP)? The BIA identifies the critical and non-critical functions of the business. The BIA provides timeframes for…...

Steps in Medical Billing And Coding Process

The medical billing cycle is a series of steps that lead to maximum, appropriate, and timely payment for patient’s medical services. The process consists of ten steps that take place before the encounter, during the encounter, and after the encounter. The first step is to preregister the patient; this takes place before the encounter when the patient calls to schedule an appointment. It involves two main tasks, to schedule and update appointments and collect preregistration demographics and insurance information (2014).…...

Health Insurance Matrix

Origin: When was the model first used? What kind of payment system is used, such as prospective, retrospective, or concurrent? Who pays for care? What is the access structure, such as gatekeeper, open-access, and so forth? How does the model affect patients? Include pros and cons. How does the model affect providers? Include pros and cons. Indemnity In 1932 the American Medical Association (AMA) adopted a strong position against prepaid group practices, favoring instead indemnity-type insurance that protects the policyholder…...


1.1 Introduction: Health and health care need to be distinguished from each other for no better reason than that the former is often incorrectly seen as a direct function of the latter. Heath is clearly not the mere absence of disease. Good Health confers on a person or groups freedom from illness - and the ability to realize one's potential. Health is therefore best understood as the indispensable basis for defining a person's sense of well being. The health of…...

Medical Records Management in Healthcare

Introduction Medical records managements is the one that give an necessary information that help a person to locate things quickly within your medical records managements. It is the process that you need to follow in medical office managements by keeping some important documents. A good medical records managements system could mean the difference between life and death for some individuals. Managing records is the best to achieve the goal of certain office because if you apply it in your life…...

Training And Development at Max Life Insurance

I had sincerely expressed my ineptness & gratitude towards Max Life Insurance for giving me an opportunity to join this esteem organization for 45 days of summer training. My summer training in Max Life Insurance Kurukshetra, of duration 45 days has been quite successful. During my stay for 45 days, I had received full co-operation from employees and officers of the Max Life Insurance. The practical visualization of the summer training has helped me to understand a lot of practical…...

Weight Watchers Case Study

To be the leading weight loss service provider by assisting individuals to lose weight and sustain a healthy lifestyle. II.VISION STATEMENT Weight Watchers International will be chosen by all individuals that have a goal of improving their life through healthy living. Weight Watchers will be easily accessible for all individuals desiring to improve their lifestyle and will receive exceptional service. Services will be recognized as a superior value. III.APPARENT PROBLEM Weight Watchers is facing the issue of increased competition and…...

Sample Interrogatories for Dog Bite Case

1. What is your complete name as well as your existing address; date of birth; marital status; chauffeur's license number and issuing state; and the last four digits of your social security number? 2. What is the name of your house owner's liability insurance carrier, consisting of the policy number and the policy limitations for an occurrence such as the one declared in the complaint? 3. How long have you lived at and owned your present home; if you are…...

The consolidated life case

It all started so positively. Three days after graduating with his degree in business administration, Mike Wilson started his first day at a prestigious insurance company – Consolidated Life. He worked in the Policy Issue Department. The work of the department was mostly clerical and did nit require a high degree of technical knowledge. Given the repetitive and mundane nature of the work, the successful worker had to consistent and willing to grind out paperwork. Rick Belkner was the division’s…...

Organizational Structure Paper

It has been that businesses operate under different organizational structures depending on the needs of the organization, its products, customer needs and services. This paper will help the reader understand the organizing structures and how it relates to a particular organization. It will show that some organizations can use multiple structures simultaneously to allow for the success of the organization and to accomplish the overall goals set forth by the organization’s vision. For the purpose of this paper we will…...

Analysis of Unilever’s Risks and Risk Management Strategies

With the rapid development of modern economy, companies are always exposed to risks which are penetrating to all walks of life and not only exist in the products market, but also exist in financial market (Ballou, 2005). It is undoubtedly that risks jeopardize the company’s development in that they may increase the cost of a company’s operation and make it harder for a company to make a crucial decision. Accordingly, it is essential to know risks and find out risk…...

Segmentation and Target Market

This plan was put into in 1936, establishing the Government Employees Insurance Company, the company known and respected today as GEICO. GEICO was primarily directed toward federal employees and certain groups of enlisted military officers. Lillian Goodwin actively marketed the company to this group of consumers and within a year, GEICO had written over 3,700 policy holders and employed 12 staff members. GEICO and Demographic Segmentation In the midst of the most market segmentation factors, demographics take part in an…...

Ethical Behavior of Dan Amos of American Family Life Insurance Company (AFLAC)

American Domesticity Insurance Business (AFLAC), a Fortune 500 business, and their President (CEO), Dan Amos, were recently recognized by Ethiosphere Magazine as the World's The majority of Ethical Business for the fourth successive year (Aflac Named The Majority Of Ethical Company for 4th Consecutive Year, March 2013). This award is provided to business who demonstrate a dedication to ethical leadership, corporate social obligation, and certified practices. More information about the approach and selection criteria and the complete list of the…...

Mutual Insurance Company of Iowa

The Mutual Insurance Company of Iowa has experienced a significant growth in sales within the last year, and in turn, has experiences a significant increase in insurance claims. After careful consideration and evaluation, the Mutual Insurance Company has elected to incorporate significant operational changes to meet the demands of the increased volumes. Specifically, incorporation of a lean operational model will be discussed. Pertinent Background Information Over 180 employees at Mutual Insurance Company of Iowa are responsible for processing all of…...

Relationship Between Quality of Product and Uncertainty

In this article, the author examines the relationship between quality and uncertainty and their implication on the theory of markets. Akerlof uses the example of the automobile market in order to illustrate the effects of uncertainty and quality on consumer behavior. In his example, Akerlof begins with the assumption that consumers have the option of either buying a new or used car. However, the consumer cannot predict whether the car that they buy is a good car or a “lemon”.…...

Physical Resources

Physical resources Within physical resources there are many points which must be taken into account to ensure a business is at its peak, these include things such as materials, waste, insurance, equipment including ICT, buildings and facilities, planned maintenance and refurbishment, security, plant and machinery. These particular resources are what help maintain physically the resources in a business. Materials Materials are regularly used within workplaces this is to help encourage new customers from making the shops attractive encouraging customer participation.…...

Liberty Mutual- Swot Analysis

Liberty Mutual Group which is a Fortune 100 company that provides insurance and insurance services for individuals and companies alike. In the personal market, Liberty Mutual provides auto, home, and life insurance and they provide a 24/7 claims call center for customer service. In the commercial market, Liberty Mutual provides products like commercial auto, worker’s compensation, liability, and property insurance to large and small companies all over the world. Mission Statement: With our policyholders, we are engaged in a great…...

Employee Compensation and Benefits

Companies today should mirror their compensation and benefit programs with their long- term business strategy and organizational culture. According to Casio (2010), “Pay systems are designed to attract, retain, and motivate employees” (p.421). The most important objective is fairness or to achieve internal, external, and individual equity; and maintain a balance in relationships between direct and indirect forms of compensation, and between the pay rates of supervisory and nonsupervisory employees. Employers must perform job analysis, develop job descriptions, evaluate the…...

Promotional Strategies of Idbi Federal Life Insurance

The paper handles the research study of the marketing strategies of IDBI federal life insurance co ltd vis-à-vis its numerous competitors like LIC, SBI life, ICICI prudential, and so on. The paper aims at the numerous marketing strategies adopted by the business to make details readily available, about its products, to its possible consumers. The main objective of the paper is to learn whether the present marketing strategies work enough in drawing in customers, to find out what consumers try…...

Insurable interest case study

Adia owns a house and has an elderly third cousin living with her. Adia decides she needs fire insurance on the house and a life insurance policy on her third cousin to cover funeral and other expenses that will result from her cousin's death. Adia takes out a fire insurance policy from Ajax Insurance Co. and a $10,000.00 life insurance policy from Beta Insurance Co. on her third cousin. Six months later, Adia sells the house to John and transfers…...

A report into the collapse of HIH insurance

1. Introduction. On March 15 March 2001 Australia's second largest insurer, HIH collapsed with debts in excess of A$5billion. This report intends to discuss some of HIH's business objectives and creative accounting practices that may have attributed to the collapse of the company. 1.1 History. HIH began operating in Australia in 1968 under the name C.E. Heath plc, an English based insurance company whose Australian operations specialised in the underwriting of workers compensation. 1968 was also the year that Ray…...

5 steps to the Adjudication Process

The purpose of adjudication is to resolve disputes so that you don't have to have an expensive and long process in court. It is a process of the examination of claims and determining the outcome of these claim benefits. When the claim is filed and received goes through a 5 stage process to determine how the claim should be paid, (1) initial processing, (2) automated review, (3) manual review, (4) determination, and (5) payment. The purpose of this flow chart…...

Evaluation of a business code of ethics

Ethical behavior from employees is the foundation for a successful business. Trevino and Nelson define ethical behavior as being, "consistent with the principles, norms, and standards of business practice that have been agreed upon by society (2007, p. 16, para. 1). A code of ethics is an example of the way a company would have employees act; an instruction manual for ethical behavior. Simply possessing a code of ethics does not guarantee ethical behavior from employees. Therefore, a code of…...

Five Social Insurances and One Housing Fund

According to figure 1, it showed that the pay ratio of Shanghai enterprise was higher than Beijing and Guangzhou while the ratio for individuals were the same. The reason of the high ratio fee is to protect the worker's income, so that the workers would not need to pay half of their income for insurance payment. Therefore, the living standards for the workers would keep in average. In this few years, the development of other cities in China was being fast…...

Insurance Plays A Big Role In Risk Mana

Insurance plays a big role in risk management for a personal financial plan. Outline an insurance plan for various stages of life. Specifically address the following required elements: 1) Explain risk management and its importance. 2) Identify types of risk and how you can manage them. 3) Determine appropriate insurance coverage by investigating options for property and vehicle. - talked about our own vehicle insurance. 4) Determine appropriate insurance coverage by investing options for life, health and disability. - talked…...

New Jersey Insurance Company

1. In what ways does Mr. Somersby control the operation of the sections of his division? In what ways does top management control the operations of the law division? Mr. Somersby controls the operation of the division by requiring reports from each section of his division. Which such reports he was able to monitor the performance as well as the expenditures of each section. The law division has about five sections to which two of them seem more crucial than…...

Ethical Issues in Health Care Finance

The topic of ethical problems in every industry is usually intriguing since it attracts a substantial variety of scholars and professionals to argue. This topic becomes much more fascinating when it concerns health care funding. Ethical concerns in health care financing start, when defining human health. Human health is a fundamental requirement (Maharaj and Paul, 2011). It does not matter what kind of health challenges a person has and whether an individual is in a developed nation or not. The…...

Capital Mortgage Insurance Corporation

1. Find appropriate place with a good environment to conduct negotiations. 2. Talk to both parties to identify their specific issues that need solving, identify what is going to be needed to find solutions in the short and long term. Take note of each parties information related to issue at hand which can be used to corroborate information during the negotiating process. 3. Make a thorough assessment of the situation in order to be able have an easier transition into…...

Deutsche Allgemeinversicherung Company Case

Executive Summary Deutsche Allgemeinversicherung (“DAV”) is one of the world’s largest insurance companies. DAV’s traditional business model was exceeding customer experience for the quality of service in order to maintain current customers and attract new ones. One of the challenges that DAV faced was processing and retrieving information and data without errors in a timely manner across their multiple divisions and various locations. Improving quality was a high priority as there was increasing competition. Annette Kluck, the Head of Operations,…...

Performing a Business Impact Analysis for an IT Infrastructure

Overview Answer the following questions, specific to the creation and focus of Business Impact Analysis as well as BCP documentation. Lab Assessment Questions & Answers 1 What is the goal and purpose of a BIA? To identify which business units, operations, and processes are crucial to the survival of the business. 2 Why is a business impact analysis (BIA) an important first step in defining a business continuity plan (BCP)? BIA identifies what is crucial which sets the path for…...

Canadian Shield Case

Using the Accenture document on governance presented with the Alcan case, place Canadian Shield in the appropriate quadrant. According to the Accenture document, I would place Canadian Shield within the efficient, predictable operator category. The slow rate of change and need to compete on operational efficiencies characterized by most companies in this quadrant is detailed by the following quote from the case authors. “Sustainability for Canadian insurance companies greatly depended on investments in projects that increased customer service and improved…...

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