Insurance Industry Indian free essay sample

In the year 1993, Malhotra Committee was formed which initiated reforms in the Indian Insurance Industry. The aim of which was to assess the functionality of the industry. It was incharge of recommending the future path of insurance in India. It even attempted to improve various aspects, making them more appropriate and effective for the Indian market. In the year 1999 The Insurance Regulatory and Development Authority Act was formulated which brought about several crucial policy changes in the India. In 2000 it led to the formation of the Insurance Regulatory and Development Authority. The goals of IRDA are to safeguard the interests of insurance policyholders, as well as to initiate different policy measures to help sustain growth in the industry. This Authority has notified 27 Regulations on various issues like Registration of Insurers, Regulation on insurance agents, Re-insurance, Solvency Margin, Obligation of Insurers to Rural and Social sector, Investment and Accounting Procedure, Protection of policy holders interest, etc. We will write a custom essay sample on Insurance Industry Indian or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Brief introduction Indian Insurance Industry is flourishing with several national and international players competing and growing at rapid rates. The success comes usually from the easing of policy regulations, and India has become more familiar with different insurance products and the period from 2010 2015 is projected to be the Golden Age for the Indian insurance industry. | Indian Insurance companies today offer a comprehensive range of insurance plans, a range which is growing as the economy matures and the wealth of the middle classes increases. The most common types of insurance includes: term life policies, endowment policies, joint life policies, whole life policies, loan cover term assurance policies, unit-linked insurance plans, group policies, pension plans, and annuities. Those like the General insurance plans are also available to cover motor insurance, home insurance, travel insurance and health insurance. | Types of Insurance 1. Life Insurance is all about guaranteeing a specific sum of money to a designated beneficiary upon he death of the insured, or to the insured if he or she lives beyond a certain age. 2. Health Insurance it is Insurance against expenses incurred through illness of the insured or the person who takes up the insurance. 3. Liability Insurance usually insures property such as automobiles, property and professional/business mishaps and others. Market capitalization Indian Insurance Industry is a colossal one which is growing at the rate of 15-20%. Today the Insurance Industry together with bankin g services add about 7% to the countrys GDP. A well-developed and evolved insurance industry is a boon for economic development which provides long- term funds for infrastructure development at the same time strengthening the risk taking ability of the country. | | Size of the industry | According to the Life Insurance Council, the Indian life insurance industry is considered the fifth largest life insurance market with US$ 41-billion amp; growing at a rapid pace of 32-34% annually. In March 2010 the Life Insurance Corporation of India (LIC) registered an 83% increase in new business income, while private players posted a 47% growth in new business premium. According to IRDA, the insurers in the year 2009-2010 sold 10. 55 million new policies with LIC selling 8. 52 million and private companies 2. 03 million policies. In the year March 2010, LIC held 65% market share in terms of new business income collection with the private sector contributing the remaining 35% share in 2009-10. | Total contribution to the economy/ salesIndian Insurance Industry is one of the booming Industries of the economy and is growing at the rate of 15-20 % per annum. Along with banking services, it contributes to about 7% to the countrys GDP. Insurance is being a federal subject in India and which is governed by Insurance Act, 1938, the Life Insurance Corporation Act, 1956 and General Insurance Business (Nationalization) Act, 1972, Insurance Regulatory and Development Authority (IRDA) Act, 1999 and other related Acts. Top leading CompaniesToday in India more multinational companies have come forward in the insurance field. ICICI Prudential, Om Kotak Mahindra, Birla Sun-Life, Tata AIF Life, Reliance, HDFC Standard Life-Insurance Co. , Max New York Life, SBI Life Insurance, ING Vysa Life etc. are the top companies in the private sector. For the non-life Insurance section the major private players are ICICI Lombard, Royal Sandaram, Cholamandalam, IFFCO Tokyo, Tata AIG etc. All the Insurance companies come under the Insurance Regulatory and Development Authority (IRDA) which is established to regulate, promote and ensure orderly growth of Life and General insurance industry in India. Employment OpportunitiesTo pursue a career in Indian Insurance Industry, the candidate should pass the entrance examination conducted by the Actuarial Society of India, Mumbai. The students who pass 10 + 2 or equivalent exam are eligible. There is requirement of License to work in this field which can be achieved through a training programme. The Indian Insurance Institute conducts Licentiate, Associateship and Fellowship plus other training programmes for insurance services. The Licentiate examination can be given in Hindi and English on life and non life branches. Subjects usually covered are Principles of Insurance, Practice of Life Assurance and Insurance Business Environment for the life branch and for the non life branch you need to take up Practice of General Insurance instead of Practice of Life Assurance.

Napalm and Agent Orange in the Vietnam War

Napalm and Agent Orange in the Vietnam War During the Vietnam War, the United States military used chemical agents in its fight against Ho Chi Minhs Army of North Vietnam and the Viet Cong. The most important of those chemical weapons were the incendiary napalm and the defoliant Agent Orange. Napalm Napalm is a gel, which in its original form contained naphthenic and palmitic acid plus petroleum as fuel.  The modern version, Napalm B, contains plastic polystyrene, hydrocarbon benzene, and gasoline. It burns at temperatures of 800-1,200 degrees C (1,500-2,200 degrees F). When napalm falls on people, the gel sticks to their skin, hair, and clothing, causing unimaginable pain, severe burns, unconsciousness, asphyxiation, and often death. Even those who do not get hit directly with napalm can die from its effects since it burns at such high temperatures that it can create firestorms that use up much of the oxygen in the air. Bystanders also can suffer heatstroke, smoke exposure, and carbon monoxide poisoning. The US first used napalm during World War II in both the European and Pacific theaters, and also deployed it during the Korean War. However, those instances are dwarfed by American use of napalm in the Vietnam War, where the US dropped almost 400,000 tons of napalm bombs in the decade between 1963 and 1973. Of the Vietnamese people who were on the receiving end, 60% suffered fifth-degree burns, meaning that the burn went down to the bone. Horrifying as napalm is, its effects at least are time-limited. That is not the case with the other major chemical weapon the US used against Vietnam   Agent Orange. Agent Orange Agent Orange is a liquid mixture containing the 2,4-D and 2,4,5-T herbicides. The compound is toxic for only about a week before it breaks down, but unfortunately, one of its daughter products is the persistent toxin dioxin. Dioxin lingers in soil, water, and human bodies. During the Vietnam War, the US sprayed Agent Orange on the jungles and fields of Vietnam, Laos, and Cambodia. The Americans sought to defoliate the trees and bushes, so that enemy soldiers would be exposed.  They also wanted to kill off the agricultural crops that fed the Viet Cong (as well as local civilians). The US spread 43 million liters (11.4 million gallons) of Agent Orange on Vietnam, covering 24 percent of South Vietnam with the poison. Over 3,000 villages were in the spray zone. In those areas, dioxin leached into peoples bodies, their food, and worst of all, the groundwater.  In an underground aquifer, the toxin can remain stable for at least 100 years. As a result, even decades later, the dioxin continues to cause health problems and birth defects for Vietnamese people in the sprayed area. The Vietnamese government  estimates that about 400,000 people have died from Agent Orange poisoning, and about half a million children have been born with birth defects. US and allied veterans who were exposed during the period of heaviest usage and their children may have elevated rates of various cancers, including soft tissue sarcoma, Non-Hodgkin lymphoma, Hodgkin disease, and lymphocytic leukemia. Victims groups from Vietnam, Korea, and other places where napalm and Agent Orange were used have sued the primary manufacturers of these chemical weapons, Monsanto and Dow Chemical, on several occasions. In 2006, the companies were ordered to pay US$63 million in damages to South Korean veterans who fought in Vietnam.

Research fmea and hfmea Essay Example | Topics and Well Written Essays - 250 words

Research fmea and hfmea - Essay Example Thirdly, there is the graphic description process which involves the identification of potential failures as well as their causes and effects. Finally, there is a process of calculating the risk, which involves the calculating the severity, the detectability and probability scores. The Healthcare FMEA has been adopted specifically in healthcare for the purpose of analyzing the risks through the use of the detectability and criticality steps in such a way that it is presented as an algorithm (DeRosier, et al., 2002). In the adaptation of FMEA into healthcare, the calculation step is normally replaced by a hazard score that is indicated directly from a Hazard Matrix Table. HFMEA has five important steps which include defining the topic, assembling the team, graphically describing the process, conducting a hazard analysis, and finally, measuring actions and outcomes. HFMEA is an important process because it allows for the early detection of possible outcomes before medical procedures before they are undertaken. DeRosier, J., Stalhandske, E., Bagian, J.P., & Nudell, T (2002).  Using Health Care Failure Mode and Effect Analysis:  The VA National Center for Patient Safetys Prospective Risk Analysis System. The Joint Commission Journal on Quality Improvement, 27(5): 248-267.

CLOUD COMPUTING Essay Example | Topics and Well Written Essays - 1500 words

CLOUD COMPUTING - Essay Example clouds while the main services that an organization can take advantage of, with respect to cloud computing, include Software as a Service or SaaS, Platform as a Service or PaaS, and Infrastructure as a Service or IaaS (Srinivasan, 2014, p. 26-34). Cloud computing has become an important service for many businesses regardless of size. Some of the benefits that can be realized from the adoption of cloud computing include but not limited to a substantial reduction in operational expenses. The City of Pittsburgh knew about the benefits and took on the process of exploiting them. The aim of this essay is to assess the overall procedure that the City of Pittsburgh used towards cloud adoption. The structure will mostly be based on the issues that prompted the adoption of the technology and then the procedure used in choosing the vendor. Most organizations have been abandoning their own forms of storage and adopting the cloud storage due to its cost effectiveness and the ability to boost productivity as well as competitiveness. Some of the companies providing cloud solutions include Google, Netflix, Dropbox, and Microsoft (Crookes, 2012, p. 7-11). Cloud computing enables businesses to improve efficiency and offer better services (Aljabre, 2012, p. 235). However, in spite of these benefits, organizations must assess themselves to determine whether this is the best option since it comes with some risks such as the security of the data held at the cloud servers (Srinivasan, 2013, p. 49-51). Such risks may lead to uproar between the stakeholders and a reliable approach has to be used so as to convince the stakeholders and any other involved parties. The City of Pittsburgh required exploring the probable alternatives to its existing email system due to a pressure to the existing resources as well as the technology. Due t o the continuing demand for a reliable and efficient email system for the City of Pittsburgh and an inadequate supply of resources to maintain the existing

The Brain Left vs Right Essay Example for Free

The Brain Left vs Right Essay The brain is a continually researched part of the human anatomy. With advances in technology, medicine and psychology it has been continually researched. The current science we have now reveals many things about the brain, such as there are two hemispheres in the brain, the left side and the right side. How much truth is there behind certain hemispheres impacting learning differently? In this essay we will take a look at each hemisphere separately, together and there correlation to learning determining and evaluate any actual facts. The left hemisphere of the brain is assumed to control certain functions more so than the right side. The left brain is often more associated with tasks involving logic, analytical thinking, and language. Much of the research is controversial as to if each hemisphere is different, and unique. Hines (1987) states, clearly there â€Å"are differences between the two hemispheres of the human brain† in regards to how â€Å"they process information.† This being said if the left hemisphere is mainly in charge of language and logic, what is the right responsible for? The right hemisphere is thought to control expressive and creative tasks such as emotional, creativity, music etc†¦ There have been multiple studies that point towards each hemisphere having more control over certain areas than others. That being said there is controversy that you are using both hemispheres equally. There are many theories out there but no one hundred percent facts yet. With this in mind is either side more advantageous in regards to learning? The hemispheres usually work together in every aspect, they work together to create the best outcome. In order to read, for instance, a person needs to constantly access both the left and right hemispheres of the brain simultaneously. The brain has something called the corpus callosum, a bundle of nerve fibers. This is what allows the two brain hemispheres to communicate and transfer information freely. Brain Yochim et al. â€Å"†¦hypothesized that the RH [right hemisphere] performs a â€Å"coarse grain† analysis from which the LH[left hemisphere], which performs a â€Å"fine grain† analysis, then selects the most appropriate interpretation.†. Obviously the brain functions as a whole but is either side more advantageous in regards to learning? Then if each of the hemispheres of our brain has certain functions or specialties, this would make the brain avoid duplication of function. According to Ann Hermann-Nehdi â€Å"the brain functions as a whole, not two individual parts-has evolved into a useful framework for learning and performance.†(2010). The hemispheres work together making all learning a combination of the left and right hemispheres. There is however, a tendency if you will for one hemisphere to be more dominant. The dominant hemisphere directly effects how each individual will respond to new experiences and learning techniques. With this knowledge in mind we are better able to decide the style of learning to pursue. There has been and will be continuous research into the anatomy of the brain. The brain in its complexity may one day be figured out. When that one day comes maybe the facts will push humanity even further toward greatness. The two hemispheres of the brain may be responsible for different things, but both are used. In regards to learning that is also the case, we use both hemispheres and different learning styles to create the most logical interpretation of the presented information. The brain is a complex organ and the continual advances in science and technology may one day lead our knowledge of learning even further.

Pressure Groups Essay -- Politics, Public Engagement

Introduction Pressure groups are known to be small and extremely diverse formed on the basis of interest and activities, their functions give them a high public profile where minds are influenced and driven to make change. â€Å"A Pressure group is an organisation which seeks to influence the details of a comparatively small range of public policies and which is not a function of a recognised political party† (Baggott, 1995: p.2). An aim of pressure groups is to generate support which can influence political agendas; this can directly persuade the government to consider taking action. In this essay I will concentrate upon exploring on various issues on pressure groups, discussing the relationship between the groups, their use of the media and their status as â€Å"insiders† and â€Å"outsiders† in the political process. Pressure groups have two main types of groups the insiders and outsiders which each promote a common cause with a different relationship with the media and political party making one as an unheard voice in the public sphere. To the public Pressure groups is another form where the public can engage in politics, participating directly in the political process. I will also intricate in this essay the arguments against pressure groups from the New Right perspective to the Neo pluralist perspective as well as the growths of pressure groups due to the use of the media and their political engagement. The size of a group is a basic indicator of how much public support they get especially those that posse’s open membership, they mobilise through demonstrations, protest involving some non members through organised events. The different types of well known pressure groups that I will include are ‘Greenpeace’, ‘Child Poverty Action ... ...te and develop policies. Using a term called ‘reactive coverage’ which uses the media to put across its viewpoint and influence. â€Å"The child poverty action group used media coverage to demonstrate that an issue was of public concern and therefore reinforce a case being made civil servants† (Field, 1977, pp53- 4). Environment pressure groups i.e. ‘Greenpeace’ a well known pressure group backed by the government and the public has used the media to help change the ‘climate’ of public opinion having an immediate influence. â€Å"The growing use of the public relations and the media specialist by pressure groups reflects the influence which they believe the mass media have over public opinion and policy decisions† (Baggott, 1995: pp. 184). Other strategies that pressure groups have used are posters or press advertisement in order to get their message across to its public.

Mind and Morality Essay

The external factors play a huge role in shaping one’s decisions. One may think that his genetic and background history has the most influence on his actions, but in reality, the intensity of a given situation has greater impact in the choices of the individual. The surroundings one lives in ultimately influences his perception, decision, and morality. In his essay, â€Å"The Power of Context,† Malcolm Gladwell states how it is the little things in life that makes the bigger difference and in many aspects this is true. In Daniel Gilbert’s essay, â€Å"Immune to Reality† he talks about how human perception about reality is not always accurate. In Oliver Sacks’s essay, â€Å"The Mind’s Eye† he shows how there are many different perceptions to view the world. So at the same time, is it possible to dictate what is right and wrong in one’s life if all the decisions are a result of his given situation and surroundings? Also the morality for each person varies depending on their circumstances and perception of their world. Ultimately, an absolute form of right and wrong does not exist because the context of the situation always changes, but still it is possible to achieve an applicable standard of morality in society. Each individual has his own way of looking at the world that is completely unique when compared to the way another person does. This is perception of reality and this form is always open to discussion because the person generates this viewpoint. Each individual makes his decisions based on his perception of the world. â€Å"The processes by which we generate positive views are many: we pay more attention to favorable information, we surround ourselves with those who provide it, and we accept it uncritically† (Gilbert 134). In many instance one creates his own perception to suit his way of thinking, so the individual could be in the center of his world. â€Å"He seemed to regard this loss of visual imagery as a prerequisite for the full development, the heightening, of his other senses† (Sacks 304). Most people see becoming blind as unfortunate event, but according to this person it helped him to improve his other senses. â€Å"The tabloids dubbed Goetz the subway vigilante and the death wish shooter† (Gladwell 153). Rather than seeing Goetz as a lunatic the newspapers depicted him as a hero. So this shows the difference in perception between people and how it varies from individuals. Importantly since each person’s perception varies it is hard to claim whose perception is right or wrong because ultimately is there a â€Å"right† perception of the world that everybody should be following? Even when viewing a painting everybody has their own interpretation of the art. No one claims there is only one â€Å"right† perception; rather the different perceptions are simply different approaches towards looking at the world. â€Å"It was simply inconceivable that someone could pull a gun on someone else on the subway and be called a hero for it. † (Gladwell 154) shows how different viewpoints affect the verdicts of a situation. A hero to some people might be a villain to others and it is hard to claim who is the â€Å"right† hero. The difference in subjectivity among people will always create a discrepancy of opinions among people. Since a variety of perception exists, then is it possible to have a perfect set and stone â€Å"right and wrong† rules in life? The context of a given matter plays a huge role in deciding the morality of the event. Morality is very much depended on the background information of the event. It is very hard to dictate the morality of an issue without seeing the bigger picture. Most people might see stealing as a wrong act, but what if someone stole a piece of bread in order to make sure he does not die from starvation, is that still a wrong act? In a situation like that one might feel sympathetic to that poor fellow and probably will see stealing as reasonable in that given situation. â€Å"We do not realize that our views will change† (Gilbert 135), the idea of morality varies on the situation because the context of the event directly affects morality. â€Å"Blindness now becomes for him a dark paradoxical gift. This is not just compensation, but a whole new order, a new mode of human being† (Sacks 305), in many aspects blind people do not see their condition as a curse or burden rather a different approach towards living and for most sighted people it might be hard to understand and accept this approach. â€Å"That there are instances where you can take normal people from good schools and happy families and good neighborhoods and powerfully affect their behavior merely by changing the immediate details of their situation† (Gladwell 162) this shows how the little details of an event plays huge role in the outcomes of an event. Essentially, context of a situation is what dictates morality and it is going to be almost impossible to label morality as set and stone as something like the Ten Commandments because the context always changes. Even though the standards of morality vary according to the situation there are some aspects of morality that one subconsciously accepts. Some ethics are universally considered wrong and one’s mind without even one knowing already knows that some choices are not right. That is why the mind tends to usually question the choices one makes. â€Å"When we cook facts, we are similarly unaware of why we are doing it, and this turns out to be a good thing, because deliberate attempts to generate positive views† (Gilbert 134), subconsciously to some extend individuals are aware of the morality behind an action and this will help individuals to make their decisions wisely. â€Å"To what extent are we our experiences, our reactions shaped, predetermined, by our brains, and to what extend do we shape our own brains† (Sacks 303), There are some emotions and judgments that are simply preinstalled in one’s mind which aids an individual in making choices that are difficult. â€Å"After a while the bad guys wised up and began to leave their weapons home and pay their fares† (Gladwell 157) this shows how there is a consciousness inside individuals that helps in guiding with decision making. When making a choice that might inflict pain to us or others one’s mind will usually try to suggest against that decision. That is why the idea of taking an innocent person’s life is universally seen as a wrongful act in societies. Therefore, there is a sense of unconscious morality that lies within the hearts of most individuals. Achieving a complete form of morality is a very idealistic thought because practically it’s not possible. There are infinitely many ways of perceiving morality and it would be impossible to set a standard that would suit all the time. â€Å"Too often people with sight don’t see anything† (Sacks 310). There are parts that even one’s eye sometimes cannot capture meaning that sometimes it’s simply not possible to account for all the possibilities. â€Å"The benefit of all this unconscious cookery is that it works, but the cost is that it makes us strangers to ourselves† (Gilbert 135). People sometime engage in activities without being aware of the magnitude of the situation. †They are both based on the premise that an epidemic can be reversed, can be tipped, by tinkering with the smallest details of the immediate environment† (Gladwell 157) the intensity of the situation has a huge influence on the decision of the individual. Due to all this, perceiving morality completely would be very difficult. Also having a perfect morality would require infinite knowledge which humans do not possess. As an individual one is limited at what he observes at a given time and there are limitations for each individual in this world. However, through the perceptions of many individuals, people will be able to come up with a better understanding of morality. Even with the limitations each individual has a small understanding of morality in the back of his head. Essentially, when all these understanding that are possessed by individuals are combined then a suitable set of standards will be formed that can accompany most situations. The collective effort of people will help to generate a better set of morality that will help in creating a peaceful environment for people to live in. That is why it is important to have many different perceptions of morality because they all eventually lead to creating appropriate rules that will be suitable for the well-being of a society. Despite not being able to have an absolute morality with infallible accuracy and with infinite knowledge, an applicable method of sensing morality is still practical. Individuals lack the ability to have a perfect morality because for one to acquire it in completion one needs to possess infinite amount of knowledge. Despite this back drop each individual innately has the ability to know morality in small parts and therefore combining the small parts of every individual will help to achieve a suitable set of codes. The differences in perception between people only aids to benefit humans in portraying a better understanding of morality. That is why it is important that there are different types of perceptions because if there was only one view then a very limited and narrow minded principle would be prevalent in the world. The different pathways of thinking done by people finally leads to achieving a suitable mode of morality. An absolute form of morality will never be possible in this imperfect world, however, that does not mean accomplishing a reasonable standard is impossible.