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Insurance Accounting Study: LIC Insights

The document summarizes a study on insurance accounting with reference to LIC. It outlines the research objectives such as highlighting shortcomings of existing players, benefits of liberalization, and identifying market potential and strategies. It discusses the research design process of determining the data and sources needed. The common research approaches are exploratory, descriptive, and experimental. Key research problems are issues with claim settlements, overdue ineligibility, policy premiums, and rejected claims. The methodology uses secondary data collected from annual reports, financial records, and IRDA reports.

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43 views1 page

Insurance Accounting Study: LIC Insights

The document summarizes a study on insurance accounting with reference to LIC. It outlines the research objectives such as highlighting shortcomings of existing players, benefits of liberalization, and identifying market potential and strategies. It discusses the research design process of determining the data and sources needed. The common research approaches are exploratory, descriptive, and experimental. Key research problems are issues with claim settlements, overdue ineligibility, policy premiums, and rejected claims. The methodology uses secondary data collected from annual reports, financial records, and IRDA reports.

Uploaded by

Vinaybhat
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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STUDY ON INSURANCE ACCOUNTING WITH SPECIAL REFERENCE TO LIC

Meaning:
Research methodology is a systematic way of solving any research problem. It is a science of
analysis how research is done scientifically. It studies the various steps are generally adopted
by a research in studying the research problem.

Research objective
1. The report gives the brief background of the sector and to highlight the short coming
of the existing setup of the players.
2. The benefit of the liberalized sector is enumerated
3. The report also tries to identify the market potential for insurance products and the
strategy that can be employed to exploited the same
4. The stress is also given on knowing the awareness level of public.

Research design:
To conduct the market research first of all it is necessary to create a search design. A research
design is basically a blue print of how a research is to be conducted, it may include;
1. Choosing the approach
2. Determining the type of data needed
3. Locating the source of data
4. Choosing a method of data
Basically there are three types of approaches used during any research:
1. Exploratory
2. Descriptive
3. Experimental

Research problems:
 Issue relating to the claim settlement
 Overdue ineligibility
 Issue related to policy premium
 Claims rejected for non-disclosure
 Problems at reneval

Research methodology:
The data refers to the facts that some existing information or knowledge is represented or
coded in some form suitable for better usage or processing. In this project the secondary data
are used and it’s collected from different sources like
 Annual report of the company
 Published financial source of the company
 Financial records of the company
 IRDA reports and other schedules

JSS COLLEGE DHARWAD

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