Insurance Domain Project

What is Insurance…???

Insurance is defied as contract, Which is called as policy, in which as individual or Entity (Organization) receives
financial protection and reimbursement of damage from Insurance company to Policy Holder.

Top Insurance Companies in India…

1. Life Insurance Corporation of India.

2. ICICI Prudential Life Insurance Co Ltd.
3. Bajaj Allianz Life Insurance Co Ltd.
4. SBI Life Insurance Co Ltd.
5. Reliance Life Insurance Co Ltd.
6. HDFC Standard Life Insurance Co Ltd.
7. Birla Sun Life Insurance Co Ltd.
8. Max New York Life Insurance Co Ltd.
9. Star-Health
10. Kotak Life Insurance Co Ltd.

Top 10 Insurance Companies in World…

Total assets
Rank Company Country
(US$ Billion)

1 Allianz  Germany 1,190.1

2 Axa  France 918.9

3 Prudential Financial  United States 815.1

4 Nippon Life  Japan 710.9

5 Berkshire Hathaway  United States 707.9

6 MetLife  United States 687.5

7 Japan Post Insurance  Japan 666.6

8 Prudential plc  United Kingdom 646.2

9 Legal & General  United Kingdom 625.7

10 Ping An Insurance  China 620.4

11 Assicurazioni Generali  Italy 590.5

Category of Insurance -

1. Health
2. Term Life
3. Vehicle
4. Transport
5. Residence
6. Property
7. Pet / Animal
8. Crop
9. Business
10. Mobile
11. Other

Types of Insurance -

1. Life Insurance (Long Term)

a) Accidental death & Natural Death
b) Partial Disability Insurance
c) Total Permanent Disability Insurance
d) Critical illness
2. General / Non-Life Insurance (Short Term)
a) Auto (Car , Any vehicle)
b) Marine
c) Fire -Home, Car, Shop - It covers any damage to property because of a fire.
d) Travel
e) Vehicle
3. Other Insurance
a) Group Insurance
b) Pet Insurance
c) Crop Insurance
d) Worker’s Compensation Insurance

 Domain Terminology in insurance -

 Insurer- Insurer is an insurance company selling the policy.

 Insured / Policy Holder- An insured or policy holder is the person or entity buying the insurance.

 Insurance Coverage- The term ‘insurance coverage’ means, when an individual takes an insurance
policy the insured will be covered by insurance company for a specific amount for themselves or
the things that he had taken the insurance policy, for which he would be paying premiums to the
insurance company.  The insurance company will pay the insured in case of damage or claims made
by the insured according to their ‘insurance coverage’.