1. More no. of players in the market. 2. More competition.
Liberalisation is to relax regulations on social or economic policies (usually economic). Privatisation is the process of transferring a public sector industry over to the private sector. Globalisation is the unification of the global markets by relaxing protectionist trade policies and integrating markets.
Impact of Liberalisation can be viewed as a two tier process, First is impact on overall functioning of the market and second is the impact on financial performance. When seen in the context of overall performance, the insurance sector is seen to have made a robust growth in the post liberalisation era in terms of huge volume of business underwritten by the companies and overall growth of the market. The indicator insurance premium reflects that the share of insurance premium is increasing in the total GDP of the country and presently India figures second in the subcontinent in terms of insurance penetration. However, when seen in the context of per capita expenditure on insurance, it is still low. Overall the market is widening, and insurers are competing hard to have more market share. Rural and under penetrated segments are receiving a good amount of attention by the insurers to reap benefits. The market has transformed from sellers to buyers, which is a bigger benefit ever the people had. When talking about the impact on the financial performance of the insurance industry, the industry suddenly had a paradigm shift, insurers are seen to act efficiently in terms of luring customers to their products resulting in growth recorded by each insurer, innovative distribution systems are taken in service for that matter, however, competition is the fierce, which compels the insurers to price their products lower, resulting in the thining margins of profitability. The situation is even worse for non life insurers, where the underwriting losses are at the highest ever. However, regulation to invest in government and semi government securities promises steady returns for the insurers which surely is a silver lining. Given the situation when governmnt is being presurised by the FII to relax the FDI cap, more surprises are expected within the coming years, who knows what it may turn out to b,. first example of bankrupt insurance company in India can not be ruled out in the competitive market or we may learn from our mistakes and come up with a better and promising market both for customers and insurance companies. Tanveer A Darzi
Impact marine insurance on an economy?
Banking Financial Services and Insurance
1. mortgage fraud 2. presidential election 3. unkown
Liberalisation is to relax regulations on social or economic policies (usually economic). Privatisation is the process of transferring a public sector industry over to the private sector. Globalisation is the unification of the global markets by relaxing protectionist trade policies and integrating markets.
The insurance sector makes sure that people are willing to take risks. The insurance sector also employs a lot of people.
What is the impact of globalization in banking sector in Malaysia?"
Insurance sector in India is regulated by 'Insurance Regulatory Development Authority (IRDA).
career objectives in the insurance sector as claim handler
Marianne Nylandsted Larsen has written: 'Zimbabwean cotton sector liberalisation' -- subject(s): Cotton trade
"Against of" is not a good combination, so your second version is better. However, I would suggest "Why are you opposed to the insurance sector?" as a clearer question.
Privatization of insurance sector means that the sector is transferred from the hands of the government to private individuals. The decisions and operations of a privatized sector are fully transferred to the new private owners.
Impact of Liberalisation can be viewed as a two tier process, First is impact on overall functioning of the market and second is the impact on financial performance. When seen in the context of overall performance, the insurance sector is seen to have made a robust growth in the post liberalisation era in terms of huge volume of business underwritten by the companies and overall growth of the market. The indicator insurance premium reflects that the share of insurance premium is increasing in the total GDP of the country and presently India figures second in the subcontinent in terms of insurance penetration. However, when seen in the context of per capita expenditure on insurance, it is still low. Overall the market is widening, and insurers are competing hard to have more market share. Rural and under penetrated segments are receiving a good amount of attention by the insurers to reap benefits. The market has transformed from sellers to buyers, which is a bigger benefit ever the people had. When talking about the impact on the financial performance of the insurance industry, the industry suddenly had a paradigm shift, insurers are seen to act efficiently in terms of luring customers to their products resulting in growth recorded by each insurer, innovative distribution systems are taken in service for that matter, however, competition is the fierce, which compels the insurers to price their products lower, resulting in the thining margins of profitability. The situation is even worse for non life insurers, where the underwriting losses are at the highest ever. However, regulation to invest in government and semi government securities promises steady returns for the insurers which surely is a silver lining. Given the situation when governmnt is being presurised by the FII to relax the FDI cap, more surprises are expected within the coming years, who knows what it may turn out to b,. first example of bankrupt insurance company in India can not be ruled out in the competitive market or we may learn from our mistakes and come up with a better and promising market both for customers and insurance companies. Tanveer A Darzi
Some of the advantages of privatization in the insurance sector are that diverse new products can come up as a result of competition. Competition in the insurance sector usually leads to the competitive pricing of various covers.
the Indian insurance sector is projected to grow from about rs.28000 crores in 2006-07 to rs.50000 crores in 2012-13. describe the growth & evolution in the insurance sector in India.
Some private sector insurance companies aremet lifemax new yorkprudentialetc