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1. Technology Independent Expertise
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Tec noh Func
TechnoFunc Presents
Overview of
Insurance Industry

2. Overview of Insurance sector
What is Insurance :
 Risk management technique under which
insured conservatively cover the risk which
may arise on account of some unforeseen
event or losses in future.
 It is a contract between two parties,
 Parties are called the insurer and the
insured,
 In this contract the insurer agrees to cover
the risk of the insured in exchange for a
payment.

3. PARTIES IN THE CONTRACT OF
INSURANCE
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Contract of
Insurance
Insured Insurer

4. Types of Insurance
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Vehicle Insurance
Property Insurance
Health Insurance
Life Insurance
Travel Insurance
Credit Insurance

5. IMPORTANCE OF INSURANCE
BENEFITS OF INSURANCE ?
Hedge against rising Health Expenses
Provides Financial Security
Encourages Savings
Planning for Life Stage Needs
Safe & Profitable Long Term Investment
Tax Benefits
Assured Income through Annuities

6. PRINCIPLES OF INSURANCE
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Principle of Utmost Good Faith ( Uberrimae Fidei )
Principle Of Indemnity
Principle of Insurable Interest
Principle of Subrogation
Principle of Contribution
Principle of Proximate Cause
Principle of Loss Minimization

7. Insurance Glossary
Common terms used in Insurance
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Insurer
Insured
Policy
Premium
Claim
Actuary
Reinsurance
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