Types
of insurance organizations
actuaries
|
Calculates standard price of products,
takes into account statistical data and past claims experience. Does overall
financial assessment of the insurance company from time to time.
Ensures the company has sufficient
reserves to pay for future liabilities.
|
Third party administrators (TPAs)
|
Build hospital networks, helps in
–approvals for cashless admission to a hospital –setting the bill with the
insurer on discharge
|
Loss adjusters/surveyors
|
Assess and certify a loss when a claim
is made on the insurance company.
Play a major role in non-life
insurance business.
|
The regulator(the insurance regulatory
and development authority-IRDA)
|
Smooth running of the insurance
sector. Grants licenses.
Ensures compliance with the
regulations at all times. Responsibility to protect the interests of the
small policyholders against the mighty insurance companies.
|
Training institutes
|
Supply trained manpower.
Premier training institutes
-the insurance institute of India
(III)
-insurance institute of risk
management (IIRM)
-national insurance academy (NIA)
|
Non-governmental Organisations (NGOs)-
|
Protect customers’ rights.
spread awareness about insurance products work with self help
groups (SHGs) and insurance companies in rural areas for penetration of
micro-insurance products
|
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