Bancassurance in Asia: Prospects & Challenges

Bancassurance in Asia: Prospects & Challenges

Bancassurance in Asia Bancassurance is the alternative distribution channel for insurance products where a strategic business relationship is formed between a bank and an insurance company with a view to making use of the bank’s sales channels as well as customer bases for the selling of insurance products to the bank’s customers. Though the concept of Bancassurance is fresh in Bangladeshi financial services market, it has, since its advent back in 1980, gained the enormous success in the USA, UK,…

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Trends in Asian Insurance Market

Trends in Asian Insurance Market

 Recent Trends in Asian Insurance Market In the financial services market, the people’s needs for the insurance solution are evolving in hastier than its banking counterparts. Back in the early decades of the 17th century in London modern insurance business originates from the marine industry. Since then the nature, classes, and coverage of the policy fundamentally change in line with improved risk perception of the people. The technological advancement in the international communication and transportation sector has influenced the insurance…

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Engineering insurance policies – Types, Cover, and Cost

Engineering insurance policies – Types, Cover, and Cost

What is Engineering insurances? Insurance policies that are more related to installation and operation engines and also rated to jobs of engineers are called “Engineering insurance policies”. Common examples of engineering insurances are: Contractors’ All Risks Insurance Erection All Risks Insurance Machinery Breakdown Insurance Deterioration of Stocks Insurance Boilers and Pressure Plant Insurance Electronic Equipment Insurance (EEI) Work Plant (WP) Oil & Gas Well Drilling Equipment Package (OGD) Contractors Plant & Machinery (CPM)   Contractors’ all risks insurances: CAR Insurance…

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UK insurance act 2015 key changes

UK insurance act 2015 key changes

UK insurance act 2015 key changes For over 100 years, the insurance world is more or less dictated by the Marine Insurance Act 1906. The act actually formed the bases almost all insurance contract. The principles and practices of the insurance industry are largely indebted to the Act for a century. With the passage of time, the business law, rules, practices and their insurance requirement has changed a lot. The changing needs of the time are addressed by adopting the…

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How to Become an ACII

How to Become an ACII

How to Become an ACII ACII stands for Associateship of Chartered Insurance Institute. ACII and FCII are insurance qualifications offered by the Chartered Insurance Institute, London.) It is considered as the Best insurance degree programs in the World, offered in the United Kingdom since 1912 the year when the Royal Charter was granted for the CII. How to Become an ACII (Associate of Chartered Insurance Institute) Insurance being one of the means of transferring risks to the insurers from the shoulder of…

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Weather Index Based Insurance in Bangladesh

Weather Index Based Insurance in Bangladesh

Weather Index-Based Insurance in Bangladesh The report has been written by  Mr. Mamunul Hassan, MA, LLB, ACII (UK).   This is a case study on Weather Index-Based Insurance in Bangladesh: A case study. Hope you will find it extensive and informative for the FLOOD INSURANCE experiments. Keynote: Weather Index-Based Insurance is one of the mechanisms to eliminate the moral hazards and improve the livelihood of the poorest people in the flood-prone areas.   Background for Weather Index Based Flood Insurance Bangladesh…

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Career in insurance for future talents

Career in insurance for future talents

The career in insurance for future talents This article has been written  by Md. Khaled Mamun,  M.Sc, M.Demo, DDP, ABIA, ACII (London), Chief Executive Officer, Reliance Insurance Limited   Every industry, by and large, can bloom in the era of globalization through capitalization of talents at its disposal. It typically endeavors to acquire a segment of the country’s talent with the tailor-made uplifting and promoting of its images to the young generation and their influencers – family, friends, and mentors….

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Bangladesh Insurance Market Report 2017

Bangladesh Insurance Market Report 2017

Insurance Sector of Bangladesh – The Ultimate Guide  Bangladesh insurance market is in an upward trend despite the low penetration rate. It has potentialities to growth and advancement as opined by the insurance expert from home and aboard. Quite often the insurance professionals of the country require insurance information associated with Bangladesh insurance market. In this page (a 3,000-word guide) we have just attempted to compile information from reliable sources. You will get enough food for knowledge in your way to…

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Why do Insurers purchase reinsurance?

Why do Insurers purchase reinsurance?

Where there is life there is a risk this is the most common saying in the life insurance industry of the country.   The reasons for buying reinsurance varies insurers by insurers, but the most common reason is to spread riks, which is again complying with basics of insurance.   An insurance company is the risk carrier of the insured once a time it gets overburdened or overexposed to risks, which requires being spread. So, Insurance Company requires insurance product…

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