Insurance and Risk Management NMIMS 2020

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Insurance and Risk Management NMIMS June 2020

Q1. “An Insurance policy acts as a safeguard mechanism for an individual or organisation to reduce the effect of loss caused by various risk”. Describe the prerequisites or steps you would take for buying an insurance policy.

Q2. Principles of Insurance forms the backbone of the entire sectors. Enumerate with examples any three such principles.

Q3. Jatin has recently started working with a renowned MNC after passing out of a premier B-School. A senior colleague has suggested him to take a life insurance policy. However, Jatin is not convinced with the idea of taking a life insurance policy and is unaware of the various life insurance products which are available in the market. As a friend of Jatin You need to make Jatin understand the following:
a. Explain the concept of life insurance to Mr. Jatin and highlight the importance of a having life insurance policy
b. Help Jatin in explaining the various types of life insurance policies which are available in the market.

IRM NMIMS APRIL 2020

Insurance and Risk Management

  1. India has one of the lowest Insurance penetration rates in the world. Given this fact, if you were to take over as the CEO of a brand new private sector Insurance company “WeEnsureYou” that is about to commence its operations Shortly. Present an article in front of the board members on the future of health Insurance market in India and how this company would contribute itself in creating awareness among the people about the health insurance.
  2. Kiran is appointed as a life Insurance Agent in a renowned Insurance company. In order to acquire and expand her client base she is required to prepare a presentation on the needs for buying life insurance policy. Discuss the Needs for buying the life Insurance Plan in her presentation.
  3. Shyama after completing her MBA from a renowned college got placed as an assistant manager in a Risk Management Department of an Insurance firm. 3. Shyama after completing her MBA from a renowned college got placed as an assistant manager in a Risk Management Department of an Insurance firm.
    a. Shyama’s manager ask her to give a short presentation on the concept of Risk Management.
    b. She is required to discuss the various techniques of Risk Management. Help Shyama with the same.