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What is the subject matter of insurance?


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2008-02-27 13:46:16
2008-02-27 13:46:16

In General, SME means Subject Matter Experts. Subject Matter of Insurance is expert in insurance domain business. So you might ask what is the difference between BA - business and SME in insurance. BA will be knowing only the insurance business term but a SME will be able to say the whole business. Let me give a example in P&C insurance, BA will know for what the Bodily injury liability coverage is provided and premium charged. But a SME will be knowing how the premium is derived for Bodily injury liability coverage ie the first base premium is calculated. we also derive class factor for the insured. Class factor = primary factor + secondary factor. The factors include age,youth,married, MVR record, insurance score from CLUE report (get from third party like Choice point, FAIR...) and applicable discounts like deference driver, passive restraint(air bag). The overall discounts include multi-car or package(more than one LOB) policy. SME will be able to say the entire insurance business system but BA cannot.. I think you have a better understanding... Karthikeyan


Related Questions

One has to ask for insurance that is what solicitation means.Abhijit Bhattacharjee.

solicitation means 'urgently asking'. It is the action or instance of soliciting ; petition or proposaland here insurance is subject matter of solicitation means it can be asked by suggestion ; prposal

'insurance is a subject matter of solicitation', which essentially means that insurance has to be requested or asked for, not sold. - Souvik Maitra To fully understand the meaning of this cryptic phrase, take a look at the wording of any insurance policy that has been issued by an insurance company to a customer. Every insurance policy says that the insurance company is providing you insurance against a risk on YOUR request/solicitation, i.e. the company agreed to sell you its insurance policy after you solicited or asked for such a sale. In legal terms, insurance is a product that should not be pushed by a seller, but should be pulled by a buyer. That doesn't happen in real life, though -- Kapil Bajaj

Rawle O King has written: 'The federal crime insurance program' -- subject- s -: Burglary Insurance, Insurance, Burglary 'Property-casualty insurance' -- subject- s -: Casualty Insurance, Insurance, Casualty, Insurance, Property, Property Insurance 'Automobile insurance crisis' -- subject- s -: Automobile Insurance, Costs, Insurance, Automobile 'Financial condition of life insurance companies' -- subject- s -: Bankruptcy, Finance, Insurance companies, Insurance, Life, Life Insurance

Wayne Vroman has written: 'Applications for unemployment insurance benefits' -- subject(s): Insurance, Unemployment, Unemployed, Unemployment Insurance 'The decline in unemployment insurance claims activity in the 1980s' -- subject(s): Claimants, Insurance, Unemployment, Unemployed, Unemployment Insurance 'Labor market changes and unemployment insurance benefit availability' -- subject(s): Insurance, Unemployment, Labor market, Unemployment Insurance 'The alternative base period in unemployment insurance' -- subject(s): Insurance, Unemployment, States, Unemployment Insurance 'Unemployment insurance trust fund adequacy in the 1990s' -- subject(s): Finance, Insurance, Unemployment, Unemployment Insurance 'Experience rating in unemployment insurance' -- subject(s): Experience rating, Insurance, Unemployment, Unemployment Insurance

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Subject matter is what an art work has been created about. For example if you were to have a painting of a cow, then the subject matter is a cow.

how do the paintings compare in terms of their subject matter

If the subject matter necessiates contact, then the Insurance company is bound to contact through mail,phone call, even personal visit. If it is in the negative, then contract the Branch Manager of the Life Insurance Company for the needful.

Curtis Miller Elliott has written: 'Fundamentals of risk and insurance' -- subject(s): Insurance, Risk (Insurance) 'Property and casualty insurance' -- subject(s): Casualty Insurance, Property Insurance

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An Implied Condition is a condition that does not appear on the contract but are Implied. e.g Implied conditions imply that both the insured and insurer have good faith in the making of a contract, that the insured has insurable intrest in the subject matter of insurance, that subject matter of insurance is in place at the time the policy is affected.Express Conditions are those which are expressed or set forth in the policy.

Barry D. Smith has written: 'Psychology' -- subject(s): Psychology, Textbooks, Psychologie 'Theories of personality' -- subject(s): Personality 'Property and liability insurance principles' -- subject(s): Insurance, Liability, Insurance, Property, Liability Insurance, Property Insurance, Liability insurance, Property insurance

no, Matter is subject . . .

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When you look "deep into the matter," you do not take the subject matter at face value. Instead, you examine the subject matter upon an empirical basis. That is, you apply the scientific method to the subject matter.

This has something to do with the following concept behind the insurance: (1) The Insurer (i.e. insurance company) and Insured (i.e. an individual) enter into a legal contract. The Insured pay a premium to the Insurer and in return the Insurer assures the Insured to compensate him against the losses or hazards mentioned in the contract. (2) The Insured has an insurable interest in the subject matter (i.e. some property or life of certain individual). This means that the Insured stands to gain if the subject matter is protected against the hazards and will stand to lose if any damage is caused to the subject matter. (3) Though the Insurer assures the Insured to compensate against certain type of losses, he do not assure to compensate 'all' the losses. In any case the Insured stand to lose 'something' in case of loss of damage to the subject matter. (For example, one can not get a property insured at a higher amount than its actual value and then stand to gain from insurance claim in case the property is damaged. This will be a breach of contract.) (4) Even after entering into insurance contract with Insurer, the Insured will take all reasonable and appropriate steps for the safety of the subject matter. For example, if a house is insured against theft, fire, etc, the Insured party can not delibrately or negligently expose the house to such hazards. (5) The Insurer approaches, prompts, lure (???) the Insured to enter into the insurance agreement. However, the Insured party is supposed to reveal all relevant information related to the subject matter in 'good faith'. For example, in case of life insurance the Insured is supposed to expressely reveal to the Insurer of any health complications, etc that he is aware of and that may have some impact on the insurance contract. (The insurance premium is decided keeping in view possible risk, so if some factors are concealed, it will impact the amount of premium.)

The way that most insurance policies are written is that you are required to contact your insurance company whenver you have a loss. Tickets don't matter, fault doesn't matter. It doesn't even matter if nobody intends to claim for damages. Your insurance policy is a contract.

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