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University : Pondicherry University
Announcement : Syllabus
Degree : MBA
Subject : Insurance Management

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Insurance Management Syllabus :

MBA I– 411 : Principles And Practice Of Life Insurance
Objectives :
** To make the student understand Life Insurance Market in India.

Related : M.Com Business Finance Syllabus Pondicherry University :

** To discuss the issues related to risk management in view of life insurance.

Meaning of Life Insurance – The Evolution and Growth of Life Insurance – Basic Principles of Insurance – Life Insurance Organizations in India-– Competition and Regulation of Life Insurance.

Types of Life Insurance Policies – Term Life Insurance – Whole Life insurance – Endowment Life Insurance – Unit Linked Policies with or without Profit Policies –Customer Evaluation – Policy Evaluation – Cost and Benefit – Group and Pension Insurance Policies – Special features of Group Insurance / Super Annuation Schemes – Group Gratuity Schemes – Super Annuation schemes.

Computation of Premiums and Settlement of claims: Premium defined – Premium Calculation Including Rebates – Mode of Rebates – Large sum assured Rebates – Premium Loading – Rider Premiums – Computation of Benefits – Surrender value – Paid up value – Settlement of claims: Intimation procedure, documents and settlement procedures.

Underwriting: The need for underwriting – Guiding principles of Underwriting – Factors affecting Insurability – Methods of Life Classification – Laws affecting Underwriting.

Financial Planning and taxation: Savings – Insurance vis-à-vis- Investment in the Units Mutual Funds, Capital Markets – Life Insurance in Individual Financial Planning – Implications in IT treatment.

Text Book :
Insurance Institute of India- IC 23- Application of Life Assurance

References :
1. Insurance Institute of India – IC 30 – Practice of Life Assurance
2. Insurance Institute of India – IC 33 – Life Assurance
3. Module II, Principles and Practice of Life Insurance, The Institute of Chartered Accountants of India: New Delhi

4. Kanika Mishra, Fundamentals of Life Insurance: Theories and Applications, Prentice Hall of India: New Delhi.
5. Kutty, S.K., Managing Life Insurance, Prentice Hall of India: New Delhi

6. Black, Jr. Kenneth and Harold Skipper Jr., Life and Health Insurance, Prentice Hall, Inc., England.
7. K.C. Mishra and C.S. Kumar, Life Insurance: Principles and Practice, Cengage Learning: New Delhi.

8. H. Sadhak, Life Insurance in India, Respose Books: New Delhi

MBA I -412 : Principles And Practice Of General Insurance
Objectives :
** To help students understand general Insurance Market in India.
** To examine the issues related to risk management in view of insurance.
** To acquaint the student with different policies of general insurance.

Meaning of General Insurance – The Evolution and Growth of General Insurance – Types of General Insurance – Fundamentals of General Insurance –Recent innovations. Organization and Management of General Insurance Companies – Regulatory Framework for General Insurance in India.

Fire Insurance : Standard policies – Fire Insurance coverage – Consequential loss (fire) Insurance policies – Declaration policies, Marine Insurance: Marine Cargo policies – Hull policies – Institute cargo clauses – Institute hull clauses – Open policies – Accumulation of risk per location -Motor Insurance: Types of policies – Third party Insurance – Comprehensive coverage – Conditions and Exclusions – premium.

Non life miscellaneous insurances: Personal Accident Insurance, Health Insurance and Medi claim policies, Liability Insurance, Burglary Insurance other Miscellaneous Insurances, Rural Insurance covers, Engineering Insurance and its Consequential loss covers, Aviation hull and Aviation liability.

Underwriting and Settlement of Claims: Proposal forms – Cover notes – Certificates of Insurance – Endorsements – Moral and Physical Hazards – Statistics – Spreading of Risks –Premium Rating –Premium Loading –

Settlement of Claims: Claim procedure – TPAs – Claim forms – Investigation / Assessment – Essential Claim Documents – Settlement Limitation, Arbitration, Loss Minimization and Salvage.

Text Book :
Insurance Institute of India – IC 32- Practice of General Insurance

References :
1. Insurance Institute of India – IC 34 – General Insurance
2. Insurance Institute of India – IC 45- General Insurance Underwriting

3. Module I, Principles and Practice of General Insurance, The Institute of Chartered Accountants of India: New Delhi.

4. H Narayanan, Indian Insurance: A Profile, Jaico Publishing House: Mumbai.
5. K.C. Mishra and G.E. Thomas, General Insurance – Principles and Practice, Cengage Learning: New Delhi.

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