Indian Insurance Industry

Early Days of Computerisation In the late 1950s, when the benefits of commercial data processing were being realised, the insurance industry was one of the first to take to business automation. At that time, the objective was still to automise boring, repetitive and labour intensive accounting tasks in the back office. With the introduction of […]

There has never been a time when the effective use of IT has been more crucial to the success of the insurance industry. The insurance markets are being revolutionised by technology at a high speed pace. IT and software solutions, allowing cross-border trade to become electronic and paperless, are increasingly on offer to importers, exporters, […]

The Concept Any insurance company portfolio is characterised by a number of policies. Each policy is a physical risk or exposure, which the insurance company writes against fortuity. These risks vary in nature and size and the claims experience is unpredictable. The claims experience is normally influenced by major losses (accumulation losses) arising from one […]

Prior to the nationalisation of Insurance business in 1972, there were 106 companies, including the branches of foreign insurance companies, operating in India. They provided a kind of service restricted mainly to trade, commerce and industry. Besides, they were also providing the requirements of statutory insurance. The marketing set up of the said companies, spread […]