Tag: Training

Why need for Specialized Industry Focused Training Programme on Risk Assessment and Fire (Property) Insurance?

Most businesses realize at the time of claim that the claim amount is not payable because proper risk assessment has not been done at the time of taking the policy. Businesses fail to realize that risk cannot be managed only by taking insurance policy. It is their responsibility for maintaining the safe environment to conduct the business. The insurance policy will not cover the risks associated with organization if it fails to fulfill the conditions attached to policy.

This programme will give an opportunity to participants to interact with faculty, who have vast experience of dealing with businesses and claims worldwide. Participants will be able to learn about common mistakes that cause hardship to organizations.

Fire not only causes losses to organization’s assets and life but severely affects the goodwill and future growth of the organization. In many cases owner, promoter and directors face prosecutions as we have noticed in the case of fire in certain cinema halls/hospitals in the recent years in different parts of the country.

Objectives of the Training Programme:

This training programme is very practical in nature and is case study based to provide practical understanding of risks associated with fire and allied perils. The aim is to discuss and come out with solutions for difficulties faced during purchase of insurance policy, lodging and settlement of claims.

The programme is structured in such a way that it promotes interaction among managers/ executives of:

• Firms who purchase fire insurance polices
• General Insurance company involved in business development, selling, underwriting and managing fire insurance claims
• Insurance brokers who are most important insurance intermediary
• Surveyors who are an important link in processing/ settlement of insurance claims

Topics to be covered:

Every session will be followed by Questions/ Answers so that high level of clarity is achieved, which assists you in your career development.

• Risk Assessment – It’s Necessity
• Fire Hazards and Fire Prevention – It’s Importance
• Underwriting
  1. Important Clauses under fire insurance
  2. Perils and Add on cover
• Tips to avoid disputes in fire Insurance Claims
• Claims Procedure – how to expedite it explaining with live cases
• Legal Aspects & Procedural Aspects
• Case Studies

Who Should Attend the Training Programme ((Target Participants)?

This is a good opportunity for:

1. Managers/ Risk Mangers handling purchase of insurance and lodging of claims from
   • Corporates
   • Trading companies
   • Manufacturing firms
   • Exporters/ Importers
   • Educational institutes
   • Hospitals
   • Hotels
   • Shopping Malls/ Multiplexes
   • IT companies
   • SME’s e.t.c
2. Managers/ Executives of Insurance Brokerage Firms – Business Development/ Underwriter/ Claim Department.
3. Managers/ Executives of General Insurance/ Reinsurance Companies involved in business development, selling, underwriting and management of claims
4. Surveyors (members of Indian Institute of Insurance Surveyors and Loss Assessors)
5. Consulting firms providing risk management services, claims management services
6. Academic-Faculty members/ students specializing in Insurance planning to make career in General Insurance.

What you can expect from the Training Programme?

This executive development programme on Risk Assessment and Fire Insurance Claims will provide the participants with comprehensive, multifunctional perspective on how to assess risk, maintain processes for risk mitigation, comply with statutory procedures on containment of risk and management of claims.

• How to get a claim payment in 60 days – Insurance client
• How to get your client’s claim settled in 60 days – Insurance Brokers
• How to complete your assignment in 30 days – Insurance Surveyor
• Managing your risk – cost effectively – Insurance client/ Managers of Insurance companies.

60 days to passing of an insurance claim is what we will focus on. Time is money, as the claims process gets extended the cost for all the stakeholders goes up. It results in financial and goodwill loss for all the stakeholders, who are involved.

Traning/ Delegate Fee:

Participation fee (Includes Training, Study Materials & Lunch)

• Individual participant fee:  2500/
• Group participation fee (team of 5 persons and above): Rs.2250/-each.
• Group participation fee (team of 10 persons and above): Rs.2000/-each

Note: Prior registration/ confirmation are requested to attend this Training Programme, so that Certificates/ Logistics/ Study Material & Lunch can be arranged accordingly.

WHY SPECIALIZED PROGRAMME ON RISK MANAGEMENT AND FIRE INSURANCE CLAIMS

Fire and allied perils are devastating for any business venture whether it is a manufacturing unit or service provider such as hospitals and hotels.

Most businesses realize at the time of claim that the claim amount is not payable because proper risk assessment has not been done at the time of taking the policy. Businesses fail to realize that risk cannot be managed only by taking insurance policy. It is their responsibility for maintaining the safe environment to conduct the business. The insurance policy will not cover the risks associated with organization if it fails to fulfill the conditions attached to policy.

This programme will give an opportunity to participants to interact with faculty, who have vast experience of dealing with businesses and claims worldwide. Participants will be able to learn about common mistakes that cause hardship to organizations.

Fire not only causes losses to organization’s assets and life but severely affects the goodwill and future growth of the organization. In many cases owner, promoter and directors face prosecutions as we have noticed in the case of fire in certain cinema halls/hospitals in the recent years.

WHO SHOULD ATTEND THE PROGRAMME?

This seminar is primarily practical in nature and is case study based to provide practical understanding of risks associated with fire and allied perils. The aim is to discuss and come out with solutions for difficulties faced during purchase of insurance policy, lodging and settlement of claims.

The programme is structured in such a way that it promotes interaction among managers of:

• Firms who purchase fire insurance polices
• General Insurance company involved in business development, selling, underwriting and managing fire insurance claims
• Insurance brokers  who are most important insurance intermediary
• Surveyors who are an important link in processing/ settlement of insurance claims.

The expected participants would represent a mix of stakeholders as mentioned in the following table.

Managers/ Risk Mangers handling purchase of insurance and lodging of claims from Corporates Trading companies Manufacturing firms Exporters/Importers Educational institutes Hospitals Hotels Shopping Malls/Multiplexes IT companies SME’s e.t.c	40
Managers /Executives of Insurance Brokerage Firms	10
Managers/ Executives of General Insurance/ Reinsurance Companies Companies involved in business devlopment, selling, underwriting and mangement of claims	10
Surveyors (members of Indian Institute of Insurance Surveyors and Loss Assessors)	20
Consulting firms providing risk management services, claims management services.	5
Academic-Faculty members/ students specialising in Insurance	10

Please note that seats will be confirmed on first come basis and optimum mix of participants as mentioned above will result in fruitful absorption of information by all stakeholders.

WHAT YOU CAN EXPECT FROM THE PROGRAMME

This executive development programme on Risk Assessment and Fire insurance Claims will provide the participants with comprehensive, multifunctional perspective on how to assess risk, maintain processes for risk mitigation, comply with statutory procedures on containment of risk and management of claims.

Some key take aways for various stakeholders will be:

1. How to get a claim payment in 60 days – Insurance client
2. How to get your client’s claim settled in 60 days – Insurance Brokers
3. How to complete your assignment in 60 days – Insurance Surveyor
4. Managing your risk – cost effectively – Insurance client/ Managers of Insurance companies.
60 days to passing of an insurance claim is what we will focus on. Time is money, as the claims process gets extended the cost for all the stakeholders goes up. It results in financial and goodwill loss for all the stakeholders, who are involved.

KEYNOTE ADDRESS

Keynote address will be delivered by Mr R K Elango, President of Indian Institute of Insurance Surveyors & loss Assessors (IIISLA).

Indian Institute of Insurance Surveyors & Loss Assessors (IIISLA) is a self-regulating professional body for the independent Practicing insurance Surveyors in India promoted by IRDA as per the directive of Govt. Of India

TOPICS TO BE COVERED

• Risk assessment- its necessity.
• Valuation of insured property in relation to adequacy of insurance.
• Offer and acceptance of document, contract, basis of standard fire policy, perils, conditions, and exclusions.
• Negotiation of price/ policy terms with Insurance Company
• In-depth understanding about Industrial All Risk Insurance Policy, its contractual obligations and speciality.
• Processes and systems to protect your insurable interests.
• Sophisticated methods that provide the tool to study the cause of loss conclusively.
• Accident has occurred- what next?
• Fire claims with case studies pertaining to fire perils
• Flood claims and timely action to minimize the loss
• Special perils, the cause, exclusions, and the assessment.
• Importance of survey/ interaction with insurance company.
• Implications of salvage in settlement of claims.
• Accounting/ Taxation implications of insurance claims.

There will be an open house panel discussion on 1st and 2nd day where the queries of the delegates on fire insurance subject will be clarified. All sessions are to be handled by eminent faculty members drawn from the profession and industry.

DELEGATE FEE

Delegate fee for the training programme is Rs.6500/-

Health Insurance is the fastest growing segment of the Indian Non-Life Insurance industry. The industry currently exceeds Rs. 8,300 crores (US $1.88B) in premium and a study recently conducted by Ernst & Young (E&Y) states that this industry will grow to Rs. 30,000 crores (US $6.81B) by 2015. This will lead to an increase in the number of offerings by life and general insurance companies. We also foresee that a number of stand-alone health insurance companies will also enter the Indian market. Additionally, the schemes of the Government of India and the state governments are supporting health insurance of those in the unorganized sector and those below the poverty line.

With this significant growth, it is important for those in the industry (underwriting, product development, health care industry, planning in the government and NGO’s) to have an in-depth understanding of different factors associated with the industry such as how to develop products to best meet the need of Indian customers.

Insurance Foundation of India (IFI) is organizing an intensive 5 day programme to provide attendees with a thorough understanding of economic behavior of insurance markets, and, how to apply this understanding to practical problems of health insurance. Amongst other topics, the programme will focus on insurance market behavior, design of effective risk management tools, health insurance environment, and product development.

What You Can Expect

The Executive Development programme on Healthcare Financing and Health Insurance will provide you with a comprehensive, multifunctional perspective on how to understand the changes occurring in the Indian health insurance environment and how to drive growth through product innovation, cost control, application of technology so that it can lead to customer satisfaction of large number of customers located all over the country. You will learn from global as well as Indian thought-leaders through case studies and exercises that will help instill key concepts that you will be able to apply in your workplace and maximize the impact you make in your company when you return to work.

Who Is Right for the Programme

This programme is designed for executives, who want to acquire a deep understanding of the health insurance products, as well as a useful theoretical framework and practical conceptual tools needed to design and manage health insurance products. Executives can be from:

• Health Insurance Companies
• General Insurance Companies
• Life Insurance Companies offering health products
• Consulting Companies
• Insurance Brokerage Firms
• Hospitals
• Government (Central/State Level)
• TPA’s
• Doctors/ Medical Associations
• NGO’s working in the Healthcare Insurance Space
• Academia and Researchers
• IT Companies
• Reinsurance Companies
• Policymaking bodies like Planning Commission, State Governments
• Foreign organizations/embassies such as USAID/WHO
• Venture and Private Equity Funds investing in healthcare domain
• Actuarial Firms

International Participation

A large number of participants for the programme will be from India but we also forsee a good number will be International participants who will be coming from ASEAN, SAARC, South Asian and African countries.

Your Course of Study

An intensive learning experience through a 5 day programme equivalent to a full semester at any top – tier University in USA. A successful attendee will spend as much time in advance preparation focused on readings and projects in addition to lectures. Additionally, the programme allows participants the opportunity to interact with other leaders in the health insurance field and learn from their experiences as well.

After an introduction to the health insurance industry, the programme continues with topics on healthcare financing and health insurance. Learning about the environment is vital to understanding how insurance companies design their health insurance products and manage their product portfolios. Topics include:

• Risk shifting using insurance
• Insurance market behavior and market failure
• Health insurance environment
• Insurance market behavior and health insurance
• Health insurance in India – Target 2020
• Healthcare Technology
• Product Innovation
• Challenges in the Insurance Industry
• Means to improve quality of healthcare services in India
• Government sponsored health insurance schemes – status/critical analysis

Those completing this programme will be presented with a Certificate by Professor Bolnick, the primary faculty member.

Executive Development Programme

This programme is one of many to be organized by Insurance Foundation of India (IFI) with an aim to increase in-depth understanding of different topics/portfolios in the Insurance Industry.

Fee: Rs. 30,000/ + Service Tax @10.30%