...New Employee Training Medical Records and Health Information Technicians * Needs Assessment: * The types of issues that might indicate a need for training would consist of: customer service problems, a lot of clerical errors, time management problems. These are just a few of problems that would indicate a need for training when any problem that happens a lot or is happening by a lot of employees at one time this is a red flag indicating its time to do some training. * These issues would be identified from having a lot of customers with complaints about the staff, or the way things are ran at the medical office. The wrong information placed in systems about patients that causing insurance billing problems and patient personal information errors. Staff spending too much time one thing or many of things that is causing over time that is costing the company money as a whole. Not spending enough time on doing the job correctly and just rushing threw it causing room for error. * If I was a training manager, I would prioritize training needs upon what is needed to be worked on threw out the medical office as a whole. If there are many of problems that need training then there will be more training available. But there is training available each month on what is needed to be worked on. * Delivery: * The best method for conducting this training would be to have in-services aka training classes. First upon hiring each employee must pass the pre test for qualification...
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...SUMMARY Recently there is something wrong with the performance of our company and I think what we should do is to upgrade the office furnitures. Because more and more of our employees claimed about the poor working condition. We can reduce the surgery fee and the sick days from the employees after the upgrade. Therefore, we can increase our productivities a lot. THE PROBLEM 1 Increase health problem- More of our employees are having health problems because of the uncomfortable furnitures. 2 Sick days increase-Because of their health problem, employees asked for the extra vacation day. 3 Surgery fee increased- Three employees had to have carpal tunnel surgery, and another had back surgery 4 Insurance fee increase- The insurance carrier was threatening to raise its premiums. 4 Productivities reduce- The day-to-day productivity of the office reduced THE REASON The problem came up from last year. If we don’t care about the problem, it will cost us a lot. For example , we already have three employees need to do carpal tunnel surgery . Cost of surgery and rehabilitation is in the range of $5,000 to $10,000 (data from :http://www.mycarpaltunnel.com/surgery-release-carpal-tunnel.shtml).And we have one employee need to have back surgery. According to the data from www.ehow.com. This procedure costs an average of $12,000to$15,000. So far the maximum cost is approximately $45000. And if we ignore that, the number of employees who need surgery would double in the next...
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...The Effects of Uninsured Driving on Motor Insurance Business Abstract Driving a motor vehicle without insurance cover is an offence that has an effect on motor insurance business. Despite the fact that Malta is, like other countries, affected by the issue of uninsured driving accidents, data on the subject is very limited. As a result, the effects of uninsured driving on insurance business and society are not fully known or understood. Likewise, the views of those concerned with the problem are not toally clear. This research study goes a long way to identify the effects of uninsured driving on the motor insurance industry. Local and European legislation concerning uninsured driving, together with primary data collection through questionnaires provide an enhanced understanding of uninsured driving from a local viewpoint. The incidence of uninsured driving in Malta appears to be increasing the burden of the costs is being incurred by honest policyholders and by insurance companies. The findings suggest that the public is not sufficiently aware of the consequences of driving without insurance and the local insurance industry does not have adequate measures to calculate the incidence rate of uninsured driving. In spite of the fact that it appears that the victims of uninsured driving are being well-served by the current compensation system, improvements can be implemented, especially with regards to how the system is funded. love and faith in me. Special...
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...1- Introduce urself? 2- Why u wanna join insurance sector? Ans- business growing at the rate of 15-20 per cent annually but still penetration of the insurance in the country is very poor. Nearly 80% of Indian populations are without Life insurance cover and the Health insurance. This is an indicates the growth potential for the insurance sector in India is very good. and after watching this growth potential i decided to join an insurance company. 3- Why TaTa Aig? Ans- a very big, reputed and trustworthy name is associated with this company i.e. TaTa, where I can build my career well, enhance my selling skills as well as contribute to the company. companys brand name is very good and customers have trust on TaTa. 4- Where u see urself after 5 or 10 yeas? Ans- after Five years from now, I see myself much more knowledgeable than I am today and acquiring the position of sr. marketing manager where I could contribute to the mutual growth of company and mine. Ans- I want to see myself secure at four important levels >professionally-by becoming an asset to my employers; >economically-by making at least a few wise investments; >personally-by being there when my I'm needed; >academically-by completing the degree in management, which I always wanted. 5- Why should we take u? Ans- I believe that I've got the skills and enthusiasm required to fulfil the role that's available. I think I'd be a valuable asset to the firm and, from my experience, I'm sure...
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...A REPORT ON INDUSTRIAL ATTACHMENT AT CORPORATIVE INSURANCE COMPANY UNIVERSITY OF ELDORET SCHOOL OF BUSINESS AND MANGEMENT SCIENCE PRESENTED BY KENNEDY OCHIENG` OBIERO REG. NO: BBU/008/2011 September, 2014 CIC Insurance Group Acknowledgement This attachment was possible thanks to the cooperation and support of a number of people, who have enabled me gain much more than what the scholastic or industrial aspects of the program could have given. I am grateful to them all, and would like to express my appreciation to the following people: Mr. Joel Ochieng`, my Industrial Attachment supervisor in CIC, for sharing enthusiastically with me his experiences in insurance. I am sincerely indebted to him for supporting and assisting me thus contributing to the success of this industrial attachment. ................., the school supervisor from the University of Eldoret, who has helped in coordinating with the administration stuffs and provide valuable assistance in my logbook and report writing. I wish to thank the Almighty God for seeing me through all circumstances during the course of my study. Let his holy name be glorified. More thanks go to my group mates for their constructive criticism that enriched my way of thinking. Table of content Summary of the report Life insurance is an important aspect of the social-economic development of the society. It helps to safeguard the future while also ensure some savings that can be used in a later date. Despite...
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...PHOENIX INSURANCE COMPANY LIMITED AN ASSIGNMENT ON Phoenix Insurance Company Limited SUBMITTED TO: Md. Alamgir Hossen Course Instructor Risk Management & Insurance SUBMITTED BY: Md. Awlad Hossain Rayhan Ahmed Md. Shakhawat Ullah 20th BATCH ID- 815 ID- 820 ID- 825 DATE OF SUBMISSION September 06, 2014 INSTITUTE OF BUSINESS ADMINISTRATION JAHANGIRNAGAR UNIVERSITY Letter of transmittal September 06, 2014 Course instructor Risk Management and Insurance Institute of Business Administration, Jahangirnagar University, Savar, Dhaka- 1342 Dear Sir, Here is the term paper on the topic ‘Phoenix Insurance Company Limited’ that you asked us to conduct. We have tried our best to find the real and absolute scenario of insurance business and its real condition in Bangladesh. The market situation and how it reflects with different situations was our best concerns. During preparing this report we tried to introduce ourselves with the insurance industry of Bangladesh. We tried to match our academic knowledge with our findings. We are pleased to be granted this vital opportunity and grateful for your versatile assistance while preparing this term paper. We hope that our work will please you. If you have any inquiry regarding the term paper, we will be available for further information. Sincerely, _______________________ Md. Awlad Hossain (ID- 815) Rayhan Ahmed (ID-820) Md. Shakhawat Ullah (ID-825) 20th Batch, BBA. Executive Summery From this study we will...
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...Comparative study of LIC of India & private Life Insurance companies in India. Introduction: The Indian life insurance industry has its own origin and history, since its inception. It has passed through many obstacles, hindrances to attain the present status. Insurance owes its existence to 17th century England. In fact, it took shape in 1688 at a rather interesting place called Lloyd's Coffee House in London, where merchants, ship-owners and underwriters met to discuss and transact business. The first stock companies to get into the business of insurance were chartered in England in 1720. The year 1735 saw the birth of the first insurance company in the American colonies in Charleston. In 1759, the Presbyterian Synod of Philadelphia sponsored the first life insurance corporation in America for the benefit of ministers and their dependents. Life insurance in its modern form came to India from England in 1818 with the formation of Oriental Life Insurance Company (OLIC) in Kolkata mainly by Europeans to help widows of their kin. Later, due to persuasion by one of its directors (Shri Babu Muttyal Seal), Indians were also covered by the company. However, it was after 1840 that life insurance really took off in a big way. By1868, 285 companies were doing business of insurance in India. Earlier these companies were governed by Indian company Act 1866. By 1870, 174 companies ceased to exist, when British Parliament enacted Insurance Act 1870. These companies however, insured European...
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...health/sciences Strong communication – verbal and written skills in English Good typing/keyboarding skills Analytical and critical thinking ability Demonstrated interest in continuing education Strong attention to detail Good decision making and problem solving skills High quality of work standards Ability to work independently as well as within a team environment Experience using an image based workflow system Experience working in a life insurance company At least 1 year(s) of working experience in the related field is required for this position Applicants must be willing to work in Quezon City Applicants should be Filipino citizens or hold relevant residence status Preferably 1-4 Yrs Experienced Employees specializing in Insurane/Financial Services or equivalent Full-Time positions available We offer competitive compensation and benefits package to qualified applicants. To know more about Manulife Financials visit our website at www.manulife.com Manulife Business Processing Services 8/F ELJ CC Bldg. ABS-CBN Broadcast Center, Sgt. Esguerra Ave. cor. Mother Ignacia Diliman QC Underwriter / Intermediate or Senior-1301002 Description Manulife Financial's Individual Insurance organization is a leading provider of insurance products to...
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...INTRODUCTION: This report has been prepared as a requirement of the insurance and risk management course. The report was based upon the overall insurance company’s problems and prospects in Bangladesh. . It can be defined as a co-operative device to spread the loss caused by a particular risk over a number of persons who are exposed to it and who agree to ensure themselves against that risk. It is a contract whereby the insurers, on receipt of a consideration known as premium, agree to indemnify the insured against losses arising out of certain specified unforeseen contingencies or perils insured against. It can play an important role in a country’s economy. It is an old form of financial practice of sharing risk, which was introduced in this area in mid-18 the Century. DEFINITION OF INSURANCE: In legal terms, insurance is a contract of uberrima fideism, i.e. a contract of utmost god faith. Here both the parties namely insurer (insurance company) and insured (policy holder) must be honest and disclose all material facts about the insurable interest. Here the insurance company undertakes to indemnify the insured against any loss in lieu of a small charge known as premium. Such as insurance policies except life insurance allows a policy-holder to transfer all risk to the insurance company in exchange of paying a certain amount of premium. INSURANCE IN BANGLADESH In Bangladesh, the Insurance business, after and early stage of dislocation, adventure and experimentation...
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...3rd Prize Winner – Shri Raghav Jain, Birla Institute of Management Technology Mis-selling in Insurance and how to prevent it 1. Mis-selling at a glance By definition, mis-selling means selling a product by giving a wrong picture of a product, it may include, giving wrong information, giving unrealistic information, not giving full information about the product. You must have heard an insured, saying – but this was not I asked for. And, your agent accusing, but then I did mentioned all the details upfront, didn’t I? Insurance is a business of selling commitments and here is a case where this was broken. Unfortunately the product was mis-sold. Mis-selling is not unique to insurance and happens in various lines of businesses (loans, credit cards, investment products, pharmacy, hospitality etc.), but Insurance being an intangible service – the principle of Caveat emptor prevails in insurance. Often, the intermediary does not fully explain the policy details to the customer. Or the buyer (insured) is in a hurry and doesn't care to check the fine print. There have been cases reported where the agent deliberately misguided the buyer. Discussing an example of mis-selling: A person aged 54, having a handsome amount of savings with him and having no dependents (no kids and wife has passed away a few years ago), has no need of a term insurance (death benefit) but the agent may sell him this policy. A common practice that is seen in this regard is where the agent sells the...
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...about the insurance business in Bangladesh and its prospect in the country under the topic of “The prospect of insurance business in Bangladesh”. In this chapter we will focus on the origin or background of the report, objectives of the report, scope of the research, methodology of the study and also the limitations that we have faced in preparation of the report. 1.1 Origin of the report: We have made the report basically to fulfill the partial obligation for the course of “Insurance and leasing”. In order to have a better idea about the insurance business and its overall condition and prospects in our country our honorable course teacher has approved us to complete the report. We think that this report gives us more or less a moderate idea and information about the insurance business in Bangladesh and at the same time it gives us the necessity of insurance business in the country. 1.2 Objectives of report: The objectives of the report are defined below: * The primary objective of writing the report is fulfilling the partial requirements of the BBA program. As as an essential part of the course of “Insurance and Leasing” we have made the report. * Giving an overall idea of the insurance business sector in Bangladesh including the history and present condition. * Showing some prospects and its opportunity in the overall business sector in the country is also a main objective of the study. Here we have shown the probable prospective area for the insurance business. ...
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...Organizational Structure Management structure formation is influenced by changes of organizational forms in which the enterprises function. So, at a company amalgamation in a conglomerate, there is a redistribution of administrative functions (the part of functions is centralized), also the firm management structure varies. Chandler has assumed that «the structure follows strategy». At strategic planning it is impossible to forget such important factor as environment. Essential influence on the company renders the political and legal component of environment consisting of the legislation at federal and local levels, and also the general political climate. The economic component of environment (rates of inflation, a rate of unemployment and wages, a trend of economic growth, specificity of competitors, features of suppliers etc.) appears the important factor. The technological component covers specificity of technological process. The Welfare component means demographic shifts. The organizations functioning in the conditions of the changeable environment, require the structures adapted for acceptance of flexible decisions. Under the influence of changes in an environment the organization constantly develops. As a result, former elements and communications die off and new components are formed , corresponding to new conditions. Strategy states the plan according to which the organization intends to...
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...Executive Summary This report provides an analysis on how ethical conflicts arise in the actuarial profession. Through extensive research we uncover many conflicts of interest and ethical dilemmas that actuaries can face during their everyday work and careers. In particular we look at how genetic factors and rating criterion create conflict. We look at ethical conflict with respect to testimony, pension and reserve actuaries, and also how external watchdogs play a role in auditing actuaries’ decisions. We found that actuaries must always be alert and prepared to deal with these ethical conflicts. They must be aware that their actions can have an impact on the financial future of a company, the insurance rates of an individual, or otherwise could result in a problem for themselves. They must also be aware that there are external watchdogs in place to make sure they are not forging numbers but are instead making informed and accurate decisions. We recommend that students who intend to pursue actuarial studies take a course called Introduction to Actuarial Practice (MTHEL 131). We also recommend that the faculty should modify this course to put more weight on professionalism and ethics to emphasise the importance of the subject. This will educate students so they can make informed and ethically sound decisions in their future careers. Table of Contents 1.0 Introduction…………………………………………………………………………....…....…1 2.0 Methods…………………………………………………………………......…………....……3 3...
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...Government Regulation of Insurance The insurance industry is regulated for several reasons: To maintain insurer solvency to compensate for inadequate consumer knowledge. To ensure reasonable rates; to make insurance available * The insurance industry is regulated primarily by the states. The McCarran-Ferguson Act states that continued regulation and taxation of the insurance industry by the states are in the public interest. * Three principal methods are used to regulate the insurance industry: Legislation Courts State insurance departments * The principal areas that are regulated include the following: Formation and licensing of insurers Solvency regulation Rate regulation Policy forms Sales practices and consumer protection Taxation of insurers * Property and casualty insurance rates must be adequate, reasonable (not excessive), and not unfairly discriminatory. The principal types of rating laws are as follows: Prior-approval law Modified prior-approval law File-and-use law Use-and-file law Flex-rating law State-made rates No filing required * Insurers must pay a state premium tax on gross premiums. The primary purpose is to raise revenues for the state, not to provide funds for insurance regulation. * State versus federal regulation is an issue that has evoked considerable debate. The alleged advantages of federal regulation include the following: Uniform state laws and regulations. More effective negotiation of international insurance agreements. More...
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...Assignment – (Individual) Course: Diploma in Logistics Management Batch: DLM 12/41 Module: International Shipping Management ------------------------------------------------- Lecturer: Mr Eddie Tan Assignment On: What risks and perils are present in global transportation? Discuss how exporters and importers can manage these risks. Submission Date: 27th Feb 2013 Name(s) of Student: Norhazura Binti Zulkafly (Word count –1,882) Table of Content Chapter | Title | Page | 1 Introduction 3 2 Global trends and challenges in transport sector 4 3 Cargo Insurance 8 4 Transportation Perils 10 5 Managing Risks 11 6 Insurable interest 12 7 Summary 13 9 Bibliography 14 1. Introduction The global economy is going through a highly volatile period as highlighted in the Transportation Profile. Diesel and bunker fuel prices have been largely unpredictable, thanks to the wild swings in crude oil prices (peaking at nearly $150 per barrel before plummeting to less than $40 per barrel in 2008). Demand for industrial and consumer products has contracted after years of unprecedented growth, due to rising prices and a global recession, and companies have struggled to secure needed financing because of the global credit crunch. They create extreme challenges in the market for global transportation services. Just a few short years ago during the global trade boom, ports were testing the...
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