Looking for knowledge and key business information on the Insurance industry?
TechnoFunc brings to you Insurance industry overview, business model, value chain, competitive landscape, and latest trends. Insurance is a contract between two parties, the insurer or the insurance company and the insured or the person seeking insurance, whereby the insurer agrees to hedge the risk of the insured against some specified future events or losses, in return for a regular payment from the insured as premium. The insurance industry is comprised of a variety of stakeholders and supplies products and services that are designed to protect businesses and individuals from risks. The insurance industry players provide risk coverage to their clients and simultaneously need to manage their own risks to ensure competitiveness and profitability of their business model. Insurance companies adopt strategies that are unique to the environment they operate in to overcome these challenges and to propel growth and market share in a global environment. This section helps the learners understand key concepts, terminology, issues, and challenges associated with the insurance industry.
Learn the various dynamics and challenges in the domain of Insurance Industry. Quickly enhance your business acumen and talk like an expert and impress your stakeholders in your next meeting!
An article to explain key terms used in the Insurance Industry and Insurance Business. Also, learn about various operational and performance metrics used in the insurance domain. Learn the definition and meaning of insurance industry terms like insured, insurer, claim, reinsurance, policy, and policy premium, etc.
Finance is the science around the management of money. Finance encompasses banking, credit, investments, assets, and liabilities. The finance function encompasses a variety of functions, activities, and processes. Finance also consists of financial systems. Acquisition, allocation, utilization, and channelizing the funds to maximize the shareholder's wealth. Finance includes public, personal, and corporate finance.
BFSI is an acronym for Banking, Financial Services, and Insurance and popular as an industry term for companies that provide a range of such products/services and is commonly used by IT/ITES/BPO companies and technical/professional services firms that manage data processing, application testing, and software development activities in this domain. Banking may include core banking, retail, private, corporate, investment, cards, and the like. Financial Services may include stock-broking, payment gateways, mutual funds, etc. The insurance covers both life and non-life.
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