Individual insurance business having enjoyed growth in previous years is expected to have key position in future also. Therefore, there is an imperative need to develop a better product mix for this sector. To improve the business, LIC should emphasis on the international market also. To increase the life insurance fund LIC should cut the management expenses. To fulfill the responsibility towards the society LIC should invest in infrastructure and social security as per IRDA guidelines. Owing to intense competition with private sector, LIC should adopt aggressive marketing strategies. LIC should develop insurance products including group policies to cater to different categories. LIC should conduct more extensive market research …show more content…
LIC must follow best investment practices and must have a strong asset management company to maximize returns. LIC should streamline its grievance redressal committee for efficient and effective service. To increase its market share LIC should come up with new innovative products to offer great variety or choice to the customers and also make improvement in the quality of service. In present stiff market competition, a focus on niche segment can be an effective way of marketing for LIC to differentiate from the competitors. Focus should be on design attractive product schemes with attractive premium structure to suit varied requirements of the investors by considering their financial position. The policy makers of LIC should concentrate on the potential market of unit linked insurance policies.
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LIC should device policies which provide effective risk coverage and also encourages them for long term investment in infrastructure. In order to face the competition with the private sector mutual funds , the policy makers
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It has built up a big reservoir being used for financing socio-economic schemes of national importance and needs of public and private sector undertakings. Although the LIC has played an important role in garnering burgeoning amount of savings from the people, even then there is ample scope for tapping savings from vast untapped section of the society.
9.5 SCOPE FOR FUTURE RESEARCH This study was limited only for Public Sector Company but there is still scope for further research in comparative study of performance of LIC with the private players of life insurance industry or investment analysis of the insurance sector in India or comparative analysis of investment policy of Life Insurance Corporation of India with General Insurance Corporation
Lee Lor was a fifteen year old Hmong girl. She was diagnosed with an acute appendicitis. During the operation to remove her appendix, doctors discovered an eight inch cancerous tumor in abdomen. Without consent they removed the tumor which cost Lee an ovary and part of fallopian tube. The doctors told her parents after the procedure what had happened and promised that she was still fertile and able to still have children. The Hmong people do not accept the western world tradition and science. They hold on strongly to their ancient traditions, are animist, and very spiritual. When the parents were made aware of the extra procedure taken place they did not trust the doctors and refused Lee further treatment including chemotherapy.
Based on presenting information, Mrs. William and Paul were included in the treatment process. However, Peter and the LCSW preselected sessions that families could attend. During the first session, the LCSW began by asking a question Peter what he wanted from agreeing to therapy. Peter responded that he wanted to “get help with managing stress, marital issues and communication tactics.” When asked how he would know that he was getting that helped, he said he would be relaxed at home, and sociable and his marriage will start to feel like a partnership again. This was expanded on when the Miracle Question (MQ) was asked. LSCW: “Peter, if you woke tomorrow and all of your issues were no longer present what are some things that would be different.”
The purpose of this paper is to provide a summary of the article called “Can We Keep Our Promises?” by Robert D. Arnott, and to help better understand the three key risks facing each investor.
This is a complex case, involving multiple parties and several variables that need to be examined thoroughly. The parties mentioned include Knarles operator of the facility maintenance company, his son Barkley, their employee, a licensed plumber, and Mr. Chetum. Although in the end Chetum is suing the facilities maintenance firm for a breach of contract, all factors must be examined to determine proper fault.
For the first 30 years of the company's existence it enjoyed huge profits from selling only automobile insurance. These large profits were achieved, due in part, to its targeted market which are generally people in the age range of 30-60 who are classified as a low risk "good drivers". The company's structure of selling insurance directly to the customer while providing excellent customer service is also a driving force to its success.
Adults A Child and Youth Professional (CYC) supports adults in their lives in countless ways. They act as advocates, mentors and teachers to parents that are or have been in difficult situations. Some of these situations are, but not limited to, teaching parents to cook and clean, creating a safe environment for their children that may be involved, and facilitating crisis intervention. As a CYC helping parents and young adults, there are two approaches that are used. The term for the first approach is the surface approach.
The other point on which leaders reacted as one of the challenges was the financial constraint to facilitate instruments for property valuation, to pay compensation for the expropriated people. The researcher identified that, the Municipality and Land Development and Management did not identified effective use of source of revenue. But, first of all, the broad source budget should be identified. These are the internal and external revenue source. The internal income sources are the most decisive financial support levers accessible to a municipality because without effective, predictable generation of internal revenues, it will be impossible to attract new, external sources of funding (Anand Sahasranaman & Vishnu Prasad, 2014). External financial supports will be available to municipalities only on the basis of the internal revenues they generate now and are
In the landmark case New Jersey v. T.L.O. (1985) a 14 year-old female student, T.L.O., was brought into the principal's office and questioned after another student had reported her smoking in the bathroom. During this time, she was commanded to show the insides of her purse, which contained cigarettes, rolling paper, marijuana, a pipe, a number of empty plastic bags, a large sum of money (single dollar bills), a list of students who owed her money, and two letters that indicated she was possibly involved in drug dealing. This evidence was then used to find her guilty in the juvenile court by the state. T.L.O. then appealed, and the New Jersey Appellate Court affirmed that the evidence was legal and thus admissible. After another appeal, the
Business Insurance News, Analysis & Articles. Web. The Web. The Web.
Rousmaniere, Peter. “Facing a tough situation.” Risk & Insurance 17.7 (June 2006): 24-25. Expanded Academic ASAP. Web. 23 March 2011.
Lifexpress’ effect on Lenox’s productivity is that it cut the processing of all the necessary paperwork from four weeks minimum to a matter of hours. Lifexpress should be assessed on its own merits and not on comparisons to competitor systems. Lifexpress was received positively by Lenox’s technologically challenged agents. This could only mean that the agents will get the hang of using the Lifexpress system given time. Having a handicap of technological incompetence. The completion of the Lifexpress project in itself was a success. The project was made operational on time and in budget. It is given that Lenox Insurance Company has more product offerings than its competition so Lenox’s Lifexpress project should be expected to be more complicated and therefore will take more time to cover all of its services. Lifexpress has a long development life cycle. Lenox has used three years from analysis to implementation stage. In today’s competitive business environment, an IT system for a financial service company is time critical. The second problem is that agents are not yet properly trained to use the system because there are many old agents in the company and they have difficulties learn to use the new system. The significant problem for Lenox’s relative old agents to use the new system. The third problem is that the product lines are not completely
One of the key areas of long-term decision-making that firms must tackle is that of investment - the need to commit funds by purchasing land, buildings, machinery, etc., in anticipation of being able to earn an income greater than the funds committed. In order to handle these decisions, firms have to make an assessment of the size of the outflows and inflows of funds, the lifespan of the investment, the degree of risk attached and the cost of obtaining funds.
J. David Cummins, A. S. (1999). Changes in the Life Insurance Industry: Efficiency, Technology and Risk Management: Efficiency, Technology, and Risk Management. Springer.
Speech act is actions performed via utterances (Yule, 1996: 47). Speech acts are divided into three acts, namely locutionary act, illocutionary act, and perlocutionary act (Austin, 1970). First, locutionary tells about what is said by people. The second, illocutionary act talks about what is the meaning behind an utterance. Illocutionary act is used to explain the real purpose of someone’s utterance. The third, perlocutionary tells about the effect of an utterance to the hearer.
UK’s exit from the European Union following the Referendum on 23rd June 2016 has exerted tremendous and profound impact on UK grocery industry. Many experts warn that devalued sterling will force the prices to go up and bring a tough time for the industry. However, Lidl, a German no-frills supermarket, has emerged to be the fastest growing supermarket with a 12.2 percent increase on sales from June to August (Denton, 2016). In the early 90’s, Lidl opened its first UK store. Insisting on providing qualified products with low prices, it has expanded rapidly in UK and owns more than 640 stores now. It also won the 2016 Good Housekeeping Awards as the Best Supermarket (Lidl, 2016). With no doubt, Brexit greatly changes the business