INSURANCE WITH

RELATION TO
SERVICE MARKETING
 What is Insurance?
Insurance basically means protection from
financial loss. It is a form of risk
management primarily used
to hedge against the risk of a contingent,
uncertain loss.
An entity which provides insurance is
known as an insurer, insurance company,
or insurance carrier. A person or entity who
buys insurance is known as an insured or
policyholder.
 Insurance act ,1938

The Insurance Act, 1938 is a law

originally passed in 1938 in British India to
regulate the insurance sector. It provides
the broad legal framework within which the
industry operates.

The Insurance Act has 120

sections and 8 schedules. Under it, An Act to consolidate and
amend the law relating to
only an Indian company, as defined
the business of insurance
and registered under Companies
Act, 1956, is allowed to operate in Amendments
India. 1940, 1941, 1946, 1950,
1955, 1968, 2002, 2015
Status: In force
Different Types of insurance
LIFE INSURANCE >> Term Life Insurance
Whole Life Policy
Endowment Plans
Unit Linked Insurance Plans
Money Back Policy

GENERAL INSURANCE >> Motor Insurance

Fire Insurance
Marine Insurance
Personal Accident Insurance

MISCELLANEOUS INSURANCE >> Fidelity Insurance

Crop Insurance
Burglary Insurance
Cattle Insurance
 Some interesting facts about Insurance
> Japanese life insurance will pay, even if you commit suicide. Therefore
motivating people to kill themselves, so their family can live in comfort. One of
many reasons for the high suicide rate in Japan.

> Starbucks pays more for employee health insurance than it pays for coffee.

> No insurance company will underwrite Jackie Chans productions. Therefore

he personally trains his own stuntmen and pays their medical bills out of his
own pocket.

> The most expensive insurance policy in the world belongs to the American
director Steven Spielberg, his life was insured for $ 1.2 billion.

> Alien abduction insurance has been available in the USA since 1987.