Professional Documents
Culture Documents
Assignment
Reg.No. Name of
Student
Marks
First
Section
Max
r Marks
A1 Introduction and Preamble 10
Part
A.1
Scenario.
B.4 Max Marks 30
1
Course Marks Tabulation
Component-1(A) First
Remarks Moderator Remarks
Assignment Examine
A1
A2
A3
Marks (Max 25 )
Please note:
1. Documental evidence for all the components/parts of the assessment such as the
reports, photographs, laboratory exam / tool tests are required to be attached to the
assignment report in a proper order.
2. The First Examiner is required to mark the comments in RED ink and the Second
Examiner’s
comments should be in GREEN ink.
3. The marks for all the questions of the assignment have to be written only in the Component
– CET B: Assignment table.
4. If the variation between the marks awarded by the first examiner and the second examiner lies
within
+/- 3 marks, then the marks allotted by the first examiner is considered to be final. If the
variation is more than +/- 3 marks then both the examiners should resolve the issue in
consultation with the Chairman BoE.
Assignment
Instructions to students:
2
7. Submission after the due date is not permitted.
8. IMPORTANT: It is essential that all the sources used in preparation of the assignment
must be suitably referenced in the text.
9. Marks will be awarded only to the sections and subsections clearly indicated as per the
problem statement/exercise/question
The aim of this course is to introduce students to the fundamentals of banking and financial
Institutions. Students are taught basic concepts of banking and the importance of financial
Institutions. The course is intended to familiarize students on various concepts of insurance, Banking
and other financial institutions. Students are introduced to customer and banker Relationship. The
students are taught basic reforms in the banking and insurance sector.
Preamble
The insurance has become an integral part of business and human life. ‘The fear of loss’ has been a
constraint on the growth of business and trade. An uncertain future of business and of individual has
always been haunting him. Insurance has been helpful in solving many problems of business and
private life.
Insurance is a contract between the two parties where an individual or entity receives financial
protection or reimbursement against losses from an insurance company. The company pools clients'
risks to make payments more affordable for the insured. These insurance policies are used to hedge
against the risk of financial losses, both big and small, that may result from damage to the insured or
property, or from liability for damage or injury caused to a third party. When the holder of an
insurance policy experiences a sudden and unexpected event that costs them money, the
policyholder can ask their insurance company to pay them for the loss in the form of claim.
The purpose of insurance is to bring the insured back to the same financial state they were in
immediately before a loss. The loss is caused by an event that the insurance policy covers, the insurer
will indemnify the insured; they’ll pay for the covered value of the loss, no more and no less (as long
as it’s within the insurance policy’s limits).Insurance companies are responsible for protecting
thousands of customers; they can’t pay for excluded losses out of kindness. Insurers craft their
coverage to protect as many people as possible, without covering so much that that they would go
out of business, or need to charge unaffordable premiums.
** You are required to select one insurance company across the globe in consultation with the
course leader.
3
Part A (25 marks)
A. *Students are required to choose any case related to insurance* complaints /claims in
the insurance industry in consultation with the course leader and critically review the
situation :
*Insurance sector can be any different types of insurance viz., life insurance, health insurance,
motor vehicle insurance, marine insurance, fire insurance, etc.
A.3 Your Views and Suggestions to improve the process of handling “Complaints and Claims”.
(10 marks)