Feminist Literary Criticism and Lysistrata Essay -- Literary Analysis,

Classically, women playwrights are almost completely absent. There were virtually no women writers at all up until at least the seventeenth century. This event originally led womens rightist critics to disregard the classical period. In an article titled Classical Drag The Greek Creation of Female Parts, Sue Ellen deterrent example states that because traditional scholarship has focused on evidence related to written texts, the absence of women playwrights became central to early feminist investigations (132). Despite this absence of womanly writers, feminist critics analyze the role of women in ancient Greece in other ways. Recently, feminist writers have been able to delve further into the classical period by examining female characters from the works of male playwrights. The construction of women in male literature is extremely important. Peter Barry, in his chapter on feminist literary criticism in his defend Beginning Theory An Introduction to Literary and Cultural Theory, a sserts that observing the female characters in works by men is important because it provides role models which indicated to women, and men, what constituted grateful version of the feminine and legitimate feminine goals and aspirations (122). Looking into the roles of the women within the works helps us determine the kind of role women and men occupy in social intercourse to each other in addition to the personal characteristics of the women. This insight into the relations between men and women adds a new layer of knowledge for feminist critics. The picture show of women by women writers differs greatly from the depiction of women by male writers. Women, as represented by men, represent stereotypes of actual women. That is, the feminist critic may assume that the images of... ...ial and heathenish evidence of the role of women in ancient Greece. Despite the fact that he is indeed a man, Aristophanes does a good job capturing certain aspects of his female characters their repu lse to succeed, their natural coquettishness, the general desire to end war diplomatically, and their devout servitude to the gods. Aristophanes also has a very firm grasp of the social situation of women in his time. For example, he knows where the line of rebellion would be drawn if the husbands forced the wives into having sex, they must relent. He knows how the ultimately defer to their husbands judgment, particularly in political matters. Lastly, he knows that their concerns are in the main domestic. However, he generally misunderstands or misrepresents many aspects of the female character. The feminist literary critic would be quick to point these discrepancies out.

Accounting Essay -- Business Management Studies

method of accounting Accounting is the practice of maintaining, auditing and processingfiscal information (http//en.wikipedia.org/wiki/Accounting) forthe purpose of a company, somebodys or organisation. There ar somefundamental parts of accounting which are Identifying, measuring andcommunicating (Black, 2000). You need to identify the importantfinancial sections of a company, person or organisation which willinclude the companies assets, liabilities, capital, income and ofcourse expenditure. You will also need to measure monetary valuesof the key financial components in a way which represents a true andfair view of the organisation (Black, 2000). Finally there is thecommunication side of accounting, it is vital that a company, personor organisation can communicate all of the financial informationgathered so in turn users, whether they are internal or external,will be able to receive the correct financial information and be ablefollow it. There are two forms of accounting they are FinancialAccounting and Management Accounting. Financial Accounting isconcerned with the preparation of financial accounts for the benefitof people outside a company or organisation. Management Accounting isfinancial information used by managers within a company ororganisation to make financial decisions based on the information thatthe accounts provide.There are many people who would be interested in companys accounts,they are divided up into two groups orthogonal Users and Internal Users. Within the External Users group are Investors, lenders, Suppliers,Customers, prospective buyers, other businesses and the Government. Included in the Internal Users group are the Owners, Shareholders, theBoard of Directors and Employ... ...ountsPayable which are debts owed BY a company, person or organisationswhich, at present have not been paid, Capital, Income and finallyRevenue and as before if there was a increase in any of the in a higher place itwould be a Debit portal.For example if a company, person or organisation was to purchase afixed asset such as a building or piece of machinery this would be anincrease in that company, person or organisations assets and wouldtherefore be a Debit entry, the other side of the entry would be aCredit entry as there would be a decrease in the bank account of thecompany, person or organisation. The restate Entry Bookkeeping isessential in order for a company, person or organisation to keep trackof all financial transaction as range of a function Entry is a very detailedfinancial account and everything that comes in or out of the businessis written in a Double Entry Account.

Genetic Haemochromatosis :: essays research papers

Genetic haemochromatosis is a disorder, which causes cast- press out build up over time. Usually an bad has about 4 grams of compact in their dead body but with this disorder the amount of iron in the body is much higher, with the total amount of iron in the body reaching up to 20 to 40 grams if untreated. In Australia, haemochromatosis affects 1 in 200-300 battalion but it is roughly common in Australians whose line of descent is from Northern Europe or the United Kingdom.If haemochromatosis is left untreated, it leads to conditions such asCirrhosis of the liverCardiomyopathyDiabetesTo prevent these problems from go uping, early diagnosis and discourse is needed. The treatment for this disorder is done by regularly extracting blood, from the same main vein, as the one thats used for when a person donates blood. By doing this regularly, it reduces the high levels of iron in the blood so that it doesnt get stored in various organs.People who are affected by haemochromatosis m ay show no symptoms at all. The symptoms of this disorder are more likely to develop in men aged between 40 and 60 years old and at a later age for women, although the disorder can be diagnosed much earlier. For this disorder, symptoms vary according to the organs involved. In the early years there may be no symptoms at all except for a healthy skin colouring that seems like a tan. Although early symptoms that occur in some people areWeaknessWeight LossLack of interest or concernSexual drivePain in the armsMuscle spiritCramps in the legsSymptoms may occur earlier in men though because women lose blood during menstruation and childbirth causing the iron levels in the body to reduce.THE CAUSES OF HEREDITARY HAEMOCHROMATOSISThe gene most commonly involved in hereditary haemochromatosis is called the HFE gene. On the short arm of chromosome number 6 is where this gene is located. The HFE gene codes the protein that regulates iron absorption. When the HFE gene is faulty the message from the gene is also faulty causing the iron storage that regulates itself to fail. Two mutations, called C282Y and H63D, have been identified in the HFE gene. It appears to cause most of the cases of hereditary haemochromatosis.Being born with two faulty HFE gene copies does not actually have to mean that a person will definitely develop HH, it just means that they are more easily affected by hereditary haemochromatosis then others.

Essay --

DATA STRUCTURES AND ALGORITHMTopic SHELL SORTNames Maryum Waris Tahir khan Isra Jameil Farrukh Ahsan Semester III Section ASubmitted to Sajid SaleemINTRODUCTIONShell sort, also known as diminishing increment sort, was devised by Donald Shell in 1959.It is known to be i of the long-standing sorting algorithm.The basic logic of this sort is that it virtually divides the original list into smaller list, which consists of elements which are present at a specified orifice, and performs sorting. As the gap decreases original list becomes more and more choose ,finally when gap is reduced to one, comparison between adjacent elements of list occurs which finally sorts the list.Shell sort utilizes interpellation sort.SHELL SORTWhile sorting a list, insertion sort compares first two elements of list (we consider a list with array found implementation) and sorts them, such that first and second element of list are arranged in required order. After this initial step, third element is involved and is sorted according to the two elements previously sorted and so on.Short comings of insertion sortWhile performing insertion sort if list is arranged in most unsorted manner(worst case) or list of to be sorted is lengthy, the process can be extremely time consuming as it involves the comparison and constitution of every new element considered with other elements already sorted.Improvements with shell sortIf the list is comparatively sorted with slight disordering, it is easier to sort the list as it give require less swapping upon comparison of elements in the listShell sort improves the sorting process because it compares and non adjoining elements which are far apart, and swaps th... ... and 10 while shoes 13- organise J = SPACE + 1 initialize counter J4-Repeat step 5 ,6 and 9 while J N5-Set K = J - SPACE initialize counter K6-Repea t step 7 and 8 while K 17-If ARRAYK+SPACEa-Interchange ARRAYK+SPACE and ARRAYKend of if structure8-Set K = K-SPACE decrements counter K end of while loop in step 69-Set J = J+1 increments counter J end of while loop in step 4 10-Set SPACE = SPACE/2 decrements counter SPACE end of while loop in step 211-Return takes control back to calling function

The Role of Women in the Caholic Church :: essays research papers

Role of Women in the Roman Catholic church serviceWomen in the Catholic Church take on many roles, from parishioner to laywoman to nuns. Women parishioners friend prepare for the mass. They mass be lectors, choir members, CCD instructors, etc. Laywomen are the Catholic women traditionally permitted certain ministerial responsibilities (Wessinger, 244). They work in churches, schools, prisons, etc. Nuns dedicate their lives to spectral devotion. They take three vows poverty, chasity, and obedience. They are to live simple lifestyles. They live their lives teaching others and helping others.In 1995, at the Fourth World Conference on Women, in Beijing, the pope statedToday I appeal to the whole Church community to be willing to foster feminine participation in either way in its internal life. This is certainly not a new commitment, since it is inspired by the example of Christ himself.nevertheless, he also involved women in the cause of his kingdom indeed he wanted them to be the first witnesses and heralds of his resurrection. In fact, there are many women who have distinguished themselves in the Churchs history by their holiness and hardworking ingenuity.The pope also stated that the feminine presence could be seen through, theological teaching, the forms of liturgical ministry permitted, including service at the alter, pastoral and administrative councils A year later, according to a research project, The Notre Dame Study of Catholic Parish Life, many women have assumed parish responsibilities. The following portionages of ministerial activities done by women reveal alter preparation 85 percent, teaching 80 percent, social caring and justice ministries 85 percent, parish council leadership 52 percent (Wessinger, 246).. Church practice is - to a large extent - womens practice. Without the unpaid cooperation of women, important pastoral activities would stop. A fair number of women choose to give their time and efforts to the church, kinda than take paid employment. Many times these women are over looked.There are many questions as to why women can not become priests. Women can not receive the Sacrament of Orders and cannot fulfill the function of ministerial priest hood. The Catechism of the Catholic Church states, Only a baptized man validly receives the dedicated ordination.

The Negative Effects of Eminem’s Lyrics Essay -- Music

The Negative Effects of Eminems LyricsEminem is a name that most Americans have grown to know about in the last year. Not only for his music, but for the controversy that his music brings. Many people are offended by his lyrics and they believe that he should be correct in some way. In my paper I will give some background on Eminem, some examples of his lyrics, different points of view, and my personal beliefs on this situation. Eminem is a character whose real name is Marshall Mathers III. He was born in Kansas City and traveled between there and Detroit with his mother during a rough disjoin in his early life. He lived a pretty rough life, changing schools and friends constantly. He grew up rapping with African American friends and was always interested in rapping. Although hes Caucasian, he has fit right in with Dr. Dre and his partners. Eminem had until just recently been married to a young woman named Kim. Kim and Marshall were high school sweethearts but have had a really rou gh marriage. They have a five year old child named Hailie, who which Eminem attributes much of his success and mentions in several of his songs. Dr. Dre discovered Eminem and signed a contract with him. Eminems debut album Infinite was released in 1996 (Eminem). Several of Eminems lyrics are considered hate lyrics by many organizations, individuals, and companies. Many of these people consider his songs hate lyrics because of his recurrent use of the word faggot. On the Marshall Mathers LP album Eminem mentions fag or faggot thirteen times in eighteen songs (Glaad). Also, some of the lyrics are very graphic and violent towards women. A few examples of songs that have anti-gay lyrics are Kill You, Who Knew, Skit Steve ... ...tions/documents/index.html?record=2500 Garry, Joan M. From The Desk Of Glaad Executive Director. 2 January 2001. http//www.glaad.org/org/topics/?topic=857 Glaad Action Alert Eminems Hate Lyrics. http//www.pflag-phoenix.org/eminemlyrics.html account of Glaads W ork Regarding Eminem. July 2000. http//www.glaad.org/org/publications/documents/index.html?record=2667 History of Glaads Work Regarding Eminem. August 2000. http//www.glaad.org/org/publications/documents/index.html?record=2667 History of Glaads Work Regarding Eminem. September 2000. http//www.glaad.org/org/publications/documents/index.html?record=2667 Moody, Nekesa Mumbi. Thousands Protest Grammy Nods For Eminem. 5 January 2000. http//www.msnbc.com/news/512380.asp?cp1=1 MTV newsworthiness Archieve. Eminem I Came To Make A Statement. 23 February 2001 http//mtv.com/nav/intro_news.html

O.B Case Studies

VALUES, ATTITUDES, AND JOB SATISFACTION LEARNING OBJECTIVES After studying this chapter, students should be able to 1. Contrast terminal and instrumental peg down 2. describe the dominant determine in todays exitforce 3. Identify the five value dimensions of national enculturation 4. Contrast the three components of an placement 5. add up the kinship between attitudes and behaviour 6. Identify the manipulation that consistency plays in attitudes 7. State the relationship between employment satisfaction and air 8.Identify four employee responses to dissatisfaction CHAPTER OVERVIEW wherefore is it important to know an idiosyncratics values? Although they do not catch a direct impact on behavior, values strongly baffle a persons attitudes. Knowledge of an privates value system disregard provide insight into his/her attitudes. Given that peoples values differ, managers can use the Rokeach Value Survey to assess potential employees and determine if their values align w ith the dominant values of the formation. An employees performance and satisfaction atomic number 18 likely to be higher if his/her values fit well with the ecesis.For instance, the person who places high importance on imagination, independence, and freedom is likely to be poorly matched with an organization that trys conformity from its employees. Managers atomic number 18 more than than likely to appreciate, evaluate positively, and allocate rewards to employees who fit in, and employees atomic number 18 more likely to be satisfied if they perceive that they do fit. This argues for c at one timern to strive during the selection of new employees to find craft candidates who not only have the ability, experience, and motivation to perform, but also a value system that is ompatible with the organizations. Managers should be interested in their employees attitudes because attitudes give warnings of potential problems and because they influence behavior. squelched and commit ted employees, for instance, have lower rates of turnoer and absenteeism. Given that managers want to livelihood resignations and absences downespecially among their more productive employeesthey leave want to do those things that will generate positive demarcation attitudes.Managers should also be aw atomic number 18 that employees will try to ignore cognitive fraudulent scheme. More importantly, dissonance can be managed. If employees atomic number 18 required to engage in activities that appear inconsistent to them or are at odds with their attitudes, the pressures to reduce the resulting dissonance are slightened when the employee perceives that the dissonance is externally imposed and is beyond his/her control or if the rewards are significant becoming to offset the dissonance. WEB EXERCISESAt the end of each chapter of this instructors manual, you will find suggested exercises and ideas for searching the WWW on OB topics. The exercises Exploring OB Topics on the Web a re set up so that you can simply photocopy the pages, distribute them to your class, make assignments accordingly. You whitethorn want to assign the exercises as an out-of-class activity or as lab activities with your class. Within the verbalise notes the graphic will note that there is a WWW activity to support this material.The chapter opens introducing Marge Savage, a Microsoft marketing psychoanalyst who is gathering information about the Nexters generationpeople born after 1977. They are the first group of people to never know a population without computers and the Internet. She found that this group values integrity, team grow, moral support, responsibility, and freedom to pursue their dreams. They want to work for a company that supports their needs, and where they can have significant influence in shaping society.They see technology and the Internet as a major force for changing the worldgood news for Microsoft. CHAPTER OUTLINE set nones Values represent basic convicti ons that a specific mode of conduct or end-state of existence is personally or genially preferable to an opposite or discuss mode of conduct or end-state of existence. There is a judgmental element of what is right, good, or desirable. Values have both(prenominal) content and meretriciousness imputes. The content attribute says that a mode of conduct or end-state of existence is important. The intensity attribute specifies how important it is. Ranking an individuals values in terms of their intensity equals that persons value system. Values are not generally fluid and flexible. They tend to be relatively stable and enduring. A significant set apart of the values we hold is established in our early yearsfrom parents, teachers, friends, and others. The process of mocking our values, of course, may result in a change, but more often, our questioning acts to reinforce the values we hold. A. splendour of Values 1.Values lay the founda tion for the understanding of attitudes and motivation because they influence our perceptions. 2. Individuals enter organizations with notions of what is right and wrong with which they interpret behaviors or outcomesat times this can cloud objectivity and rationality. 3. Values generally influence attitudes and behavior. B. Types of Values 1.Rokeach Value Survey (Exhibit 3-1) It consists of two sets of values, with each set containing 18 individual value items. One setterminal valuesrefers to desirable end-states of existence, the goals that a person would like to achieve during his/her intenttime. The otherinstrumental valuesrefers to preferable modes of behavior, or means of achieving the terminal values. 2. Several studies confirm that the RVS values vary among groups. People in the same occupations or categories tend to hold similar values. Contemporary elaborate Cohorts 1.The unique value of different cohorts is that the U . S. workforce can be segmented by the era they entered the workforce. (Exhibit 3-3) Contemporary Work Cohorts (cont. ) Notes 2.VeteransWorkers who entered the workforce from the early 1940s through and through the early 1960s Influenced by the Great Depression and World War II Believe in hard work Tend to be allegiant to their employer Terminal values Comfortable life and family security 3. BoomersEmployees who entered the workforce during the 1960s through the mid-1980s Influenced heavily by John F.Kennedy, the civil rights and feminist movements, the Beatles, the Vietnam War, and baby-boom competition qualm authority, but have a high emphasis on achievement and material success Organizations who employ them are vehicles for their careers Terminal values sense of movement and social recognition 4.Xersbegan to enter the workforce from the mid-1980s Shaped by globalization, two-career parents, MTV, AIDS, and computers Value flexibi lity, life options, and achievement of job satisfaction Family and relationships are important and enjoy team-oriented work Money is important, but will trade off for increased leisure time Less willing to make personal sacrifices for employers than previous generations Terminal values true friendship, happiness, and pleasure 5. Nextersmost recent entrants into the workforce. Grew up in prosperous times, have high expectation, believe in themselves, and confident in their ability to make it Never-ending search for ideal job see nothing wrong with job-hopping Seek financial success Enjoy team work, but are highly self-reliant Terminal values freedom and comfortable life Individuals values differ, but tend to reflect the societal values of the period in which they grew up. This can be a valuable aid in beg offing and predicting behavior. Employees in their 60s, for instance, are more likely to accept authority than coworkers 15 years younge r. 7. Workers under 35 are more likely than the other groups to balk at having to work overtime or weekends, and are more prone to leave a job in mid-career to pursue another that provides more leisure time. OB IN THE NEWS American Workers Rethink Priorities Values are relatively permanent, but dramatic shocks can realign them. For example, the terrorists attacks on September 11 may have significantly reprioritized many Americans values. The initial response to the terrorist attacks for many people was a reevaluation of choices think to jobs, family, and career success. In well-nigh cases, this led to a rethinking of career paths, cutting back on grueling schedules, and deciding to pursue work that might even up little but seem more meaningful.For instance, in California, young workers who once talked of dot-com millions are now asking Is it worth it? Some employees appear less refer about putting in face time, making deadlines, and getting on the fast track. Th ey seem more concerned about family and worry less about time at the office. CEOs say some of their employees are talking more earnestly about work/life balance, mortality, and other questions once considered verboten in the office. Said one consultant, The event de-emphasized what most people valuethe money and the luxuries. People are questioning whats really important theyre questioning work. Its happening across the board. It has now been more than a year since the terrorist attacks on New York and Washington D. C.That provides a more meaningful sight on whether this event has had long-term implications on workplace values, or whether any reprioritizing was merely a knee-jerk reaction to a traumatic event, followed by a come to business as usual. Do you think a significant portion of Americans have permanently reprioritized their values as a result of 9-11? Class cipher 1. Have students break into small groups to discuss the question Do you think a significant portion of A mericans have permanently reprioritized their values as a result of 9-11? contend them to list examples of why or why not they think the way they do. 2. As a class, share what was discussed in the small groups. 3. hold if they think Americas values have changed, or were they on the dot reawakened? 4.Ask if they think organizations values have changed or reprioritized as a result of the events. 5. Ask them to re youthful this question to themselves. Have they reprioritized their lives as a result of the 9-11 events? (They may not want to share this information with the entire classits purpose is just to get them thinking. ) A. Values, Loyalty, and Ethical Behavior Notes Many people think there has been a decline in business ethics since the late 1970s. The four-stage model of work cohort values might explain this perception. Exhibit 3-2) Managers consistently report the action of bosses as the most important factor influencing ethical and unethical behavior in the orga nization. Through the mid-1970s, the managerial ranks were dominated by Veterans whose loyalty was to their employer their decisions were made in terms of what was best for the employer. Boomers entered the workforce at this time and by the 1990s had risen into the majority of management positions. Loyalty was to their careers. Self-centered values would be consistent with a decline in ethical values. Did this really happen? fresh entrants to the workforceXersare now moving into middle management. Loyalty is to relationships, therefore they may be more likely to consider the ethical implications of their actions on others near them. teacher Note At this point in the lecture you may want to introduce the Ethical Dilemma Is it a Bribe or a Gift? Exercise found in the text. The purpose of the exercise is to provide the opportunity for students to understand that ethical situations are not always black or white and must be given consideration as business deci sions are made. B. Values Across Cultures Notes Values differ across cultures, therefore, understanding these differences helps to explain and to predict behavior of employees from different countries.One of the most widely referenced approaches for analyzing variations among cultures has been done by Geert Hofstede. Hofstedes A framework for assessing cultures five value dimensions of national culture (Exhibit 3-4) a.Power distance The gunpoint to which people in a country accept that power in institutions and organizations is distributed unequally. Individualism versus collectivism Individualism is the degree to which people in a country prefer to act as individuals rather than as members of groups. Collectivism equals low individualism. Quantity of life versus quality of life Quantity of life is the degree to which values such as assertiveness, the acquisition of money and material goods, and competition prevail. Quality o f life is the degree to which people value relationships and show predisposition and concern for the welfare of others. Uncertainty avoidance The degree to which people in a country prefer structured over unstructured situations. Long-term versus short-run orientation Long-term orientations look to the future and value thrift and persistence. Short-term orientation values the past and present and emphasizes respect for tradition and fulfilling social obligations. Conclusions Asian countries were more collectivist than individualistic. US ranked highest on individualism. German and Hong Kong ranked highest on quality of life Russia and The Netherlands were low. China and Hong Kong had a long-term orientation France and US were low. 3. Hofstedes work is the basic framework for assessing cultures. However, it is nearly 30 years old. In 1993, the Global Leadership and Organizational Behavior Effectiveness (GLOBE) has begun updating this research with date from 825 organizations and 62 countries. a.GLOBE Framework for Assessing Cultures Assertiveness The extent to which a society encourages people to be tough, confrontational, assertive, and competitive versus modest and tender Future Orientation The extent to which a society encourages and rewards future-oriented behaviors such as planning, investing in the future and delaying gratification Gender differentiation The extent to which a society maximized gender role differences Values Across Cultures (cont. Notes Uncertainly avoidance Societys reliance on social norms and procedures to alleviate the unpredictability of future events Power distance The degree to which members of a society expect power to be unequally shared Individualism/Collectivism The degree to which individuals are encouraged by societal institutions to be integrated into groups within organizations and society In-group collectivism The extent to which societys members take pride in membership in small groups such as their families and circles of close friends, and the organizations where they are employed Performance orientation The degree to which society encourages and rewards group members for performance improvement and excellence Humane orientation The degree to which a society encourages and rewards individuals for being fair, altruistic, generous, caring, and kind to others b. Conclusion The GLOBE study had extended Hofstedes work rather than replaced it. It confirms Hofstedes five dimensions are quench binding and provides updated measures of where countries are on each dimension. For example, the U. S. in the 70s led the world in individualismtoday, it is in the mid-ranks of countries. Instructor Note At this point in the lecture you may want to introduce the Team Exercise Challenges in Negotiating with Chinese Executives found in the text. The purpose of this exercise i s to give the students an opportunity to develop sentience of how to effectively work with another culture when doing business. C. Implications for OB Americans have developed organisational behavior within domestic contextsmore than 80 percent of the articles promulgated in journals were by Americans. Follow-up studies continue to confirm the lack of cross-cultural considerations in management and OB research. From a cultural perspective this means Not all OB theories and concepts are universally applicable. You should take into consideration cultural values when trying to understand the behavior of people in different countries. Attitudes Attitudes are evaluative statements that are either favorable or unfavorable concerning objects, people, or events. Attitudes are not the same as values, but the two are interrelated. threesome components of an attitude Cognition Affect Behavior The belief that discrimination is wrong is a value statement and an example of the cognitive component of an attitude. Attitudes (cont. ) Notes Value statements set the stage for the more critical part of an attitudeits affective component. Affect is the emotional or feeling segment of an attitude. cause I dont like Jon because he discriminates again minorities. The behavioral component of an attitude refers to an intention to behave in a certain way toward soulfulness or something. Example I chose to avoid Jon because he discriminates. Viewing attitudes as made up of three components helps with understanding of the potential relationship between attitudes and behavior, however, when we refer to attitude basically we mean the affect part of the three components. In contrast to values, your attitudes are less stable. Advertisements are directed at changing your attitudes and are often successful. In organizations, attitudes are important because they affect job behavior. A. Type s of Attitudes OB focuses our attention on a very limited number of job-related attitudes.Most of the research in OB has been Notes concerned with three attitudes job satisfaction, job involvement, and organizational fealty. dividing line satisfaction Definition It is an individuals general attitude toward his/her job. A high level of job satisfaction equals positive attitudes toward the job and vice versa. Employee attitudes and job satisfaction are frequently use interchangeably. Often when people speak of employee attitudes they mean employee job satisfaction. Job involvement A workable definition the measure of the degree to which a person identifies psychologically with his/her job and considers his/her perceived performance level important to self-worth. proud levels of job involvement is thought to result in fewer absences and lower resignation rates. Job involvement more consistently predicts turnover than absenteei sm. Organizational commitment Definition A state in which an employee identifies with a particular organization and its goals, and wishes to maintain membership in the organization. Research evidence demonstrates negative relationships between organizational commitment and both absenteeism and turnover. An individuals level of organizational commitment is a better indicator of turnover than the far more frequently used job satisfaction predictor because it is a more global and enduring response to the organization as a whole than is job satisfaction. This evidence, most of which is more than two decades old, needs to be qualified to reflect the changing employee-employer relationship. A. Types of Attitudes (cont. ) Notes Organizational commitment is probably less important as a job-related attitude than it once was because the unwritten loyalty contract in place when this research was conducted is no longer in place. In its place, we mi ght expect occupational commitment to have a more relevant variable because it better reflects todays fluid workforce. Instructor Note At this point in the lecture you may want to introduce the exercise Point-Counter Point Mangers Can Create Satisfied Employees exercise found in the text. The purpose of the exercise is to replace popularly held notions with research-based conclusions. B. Attitudes and conformity Notes People sometimes change what they say so it does not contradict what they do. Research has generally concluded that people seek consistency among their attitudes and between their attitudes and their behavior. Individuals seek to reconcile divergent attitudes and align their attitudes and behavior so they appear rational and consistent. When there is an inconsistency, forces are initiated to return the individual to an equilibrium state where attitudes and behavior are again consistent, by altering either the attitudes or the behavior, or by developing a rationalization for the discrepancy. C. Cognitive disturbance Theory Leon Festinger, in the late 1950s, proposed the theory of cognitive dissonance, seeking to explain the linkage between attitudes and behavior. He argued that any form of inconsistency is uncomfortable and that individuals will attempt to reduce the dissonance. Dissonance means an inconsistency. Cognitive dissonance refers to any incompatibility that an individual might perceive between two or more of his/her attitudes, or between his/her behavior and attitudes. No individual can completely avoid dissonance. The desire to reduce dissonance would be determined by The importance of the elements creating the dissonance. The degree of influence the individual believes he/she has over the elements. The rewards that may be involved in dissonance. Importance If the elements creating the dissonance are relatively unimportant, the pressure to correct this imbalance will be low. Influence If the dissonance is perceived as an uncontrollable result, they are less likely to be receptive to attitude change. While dissonance exists, it can be rationalized and justified. Rewards The inherent tension in high dissonance tends to be reduced with high rewards. Moderating factors suggest that individuals will not necessarily move to reduce dissonanceor consistency. C. Cognitive Dissonance Theory (cont. ) Notes Organizational implications Greater predictability of the propensity to engage in attitude and behavioral change The greater the dissonanceafter it has been moderated by importance, choice, and rewards factorsthe greater the pressures to reduce it. D. mensuration the A-B Relationship Early research on attitudes and common sense assumed a causal relationship to behavior. In the late 1960s, this assumed relationship between attitudes and behavior (A-B) was challenged. Recent research has demonstrated that attitudes significantly predict future behavior. The most powerful moderators Importance Specificity Accessibility Social pressures forecast experience Importance Reflects fundamental values, self-interest, or identification with individuals or groups that a person values. Specificity The more specific the attitude and the more specific the behavior, the stronger the link between the two. Accessibility Attitudes that are easily remembered are more likely to predict behavior than attitudes that are not accessible in memory. Social pressures Discrepancies between attitudes and behavior are more likely to occur where social pressures to behave in certain ways hold exceptional power. Direct experience The attitude-behavior relationship is likely to be much stronger if an attitude refers to an individuals direct personal experience. E. Self-perception theory Researchers have achieved nonetheless higher correlatio ns by pursuing whether or not behavior influences attitudes. Self-perception theory argues that attitudes are used to make sense out of an action that has already occurred rather than devices that precede and pass action. Example Ive had this job for 10 years, no one has forced me to stay, so I must like it Contrary to cognitive dissonance theory, attitudes are just casual verbal statements they tend to create plausible answers for what has already occurred. While the traditional attitude-behavior relationship is generally positive, the behavior-attitude relationship is stronger particularly when attitudes are dark and ambiguous or little thought has been given to it previously. An Application Attitude Surveys The most popular method for getting information about employee attitudes is through attitude surveys. See Exhibit 3-5) Using attitude surveys on a regular basis provides managers with valuable feedback on how employees perceive thei r working conditions. Managers present the employee with set statements or questions to obtain specific information. Policies and practices that management views as objective and fair may be seen as inequitable by employees in general or by certain groups of employees and can lead to negative attitudes about the job and the organization. Employee behaviors are often based on perceptions, not reality. Often employees do not have objective data from which to base their perceptions. The use of regular attitude surveys can alert management to potential problems and employees intentions early so that action can be taken to prevent repercussions. G. Attitudes and Workforce Diversity A survey of U. S. organizations with 100 or more employees found that 47 percent or so of them sponsored some sort of diversity training. These diversity programs include a self-evaluation phase where people are pressed to examine themselves and to confront ethnic and cult ural stereotypes they might hold. This is followed by discussion with people from diverse groups. Additional activities designed to change attitudes nclude arranging for people to do volunteer work in community or social service centers in order to meet face to face with individuals and groups from diverse backgrounds, and using exercises that let participants feel what it is like to be different. Job Satisfaction Measuring Job Satisfaction Job satisfaction is an individuals general attitude toward his/her job. Jobs require interaction with co-workers and bosses, following organizational rules and policies, meeting performance standards, living with working conditions that are often less than ideal, and the like. This means that an employees assessment of how satisfied or dissatisfied he or she is with his/her job is a Byzantine summation of a number of discrete job elements. The two most widely used approaches are a single global rating and a s ummation score made up of a number of job facets. a. The single global rating method is nothing more than asking individuals to act to one question, such as All things considered, how satisfied are you with your job? Measuring Job Satisfaction (cont. ) Notes A summation of job facets is more advanced It identifies key elements in a job and asks for the employees feelings about each one ranked on a standardized scale. Typical factors that would be include are the nature of the work, supervision, present pay, promotion opportunities, and relations with co-workers. Comparing these approaches, simplicity seems to work as well as complexity. Comparisons of one-question global ratings with the summation-of-job-factors method indicate both are valid. How Satisfied atomic number 18 People in Their Jobs? Most people are satisfied with their jobs in the developed countries surveyed. However, there has been a decline in job satisfaction since t he early 1990s. In the US nearly an eight percent drop in the 90s. Surprisingly those last years were ones of growth and economic expansion. What factors might explain the decline despite growth Increased productiveness through heavier employee workloads and tighter deadlines Employees feeling they have less control over their work While some segments of the market are more satisfied than others, they tend to be higher paid, higher skilled jobs which gives workers more control and challenges. Instructor Note At this point in the lecture you may want to introduce the exercise found in the MYTH OR SCIENCE How Satisfied Are People in Their Jobs? box found in the text.The purpose of the exercise is to replace popularly held notions with research-based conclusions. MYTH OR SCIENCE? Happy Workers Are Productive Workers This statement is generally false. The myth that happy workers are productive workers developed in the 1930s and 1940s, due to the Hawthorne st udies at Western Electric. A careful review of the research indicates that, if there is a positive relationship between happiness (i. e. , satisfaction) and productivity, the correlations are low no more than two percent of the partition in output can be accounted for by employee satisfaction. The evidence, however, is for the reverseproductive workers are likely to be happy workers.That is, productivity leads to satisfaction rather than the other way around. If the organization rewards productivity, these rewards, in turn, increase your level of satisfaction with the job. Class Exercise 1. Brainstorm with students about situations where they knew workers/employees were unhappy with the company or their jobs, but still did a reasonably good job. Perhaps have them share insights into their own feelings about their school, or a particular class they disliked but still tried very hard. 2. Discuss why someone who is unhappy with his/her job might work hard at it and do good work. 3. W hy would someone who is happy with his/her job not perform at a higher level than the disgruntled worker? 4.Students should come to realize that most effort comes from versed drive, not external motivation. As a result, a highly internally motivated individual might perform well in any situation whereas his/her organizational environment would not positively affect a non-internally motivated individual. C. The Effect of Job Satisfaction on Employee Performance Notes Managers interest in job satisfaction tends to center on its effect on employee performance. Much research has been done on the impact of job satisfaction on employee productivity, absenteeism, and turnover. Satisfaction and productivity

Hardness Removal Essay

88%. Total Hardness Percentage Removal = speed of light-84328*100=74. 39 % Calcium Percentage Removal = 100-59296*100=80. 06% Magnesium Percentage Removal = 100-2532*100=21. 88% ) How close did the treatment process come to reaching the practical limits of hardness reduction? Hardness remotion limits were not achieved. Calcium was reduced to a denseness of 59 mg/L versus the limit of 30 mg/L. And in the case of Magnesium the concentration was reduced to 25mg/L versus the limit of 10mg/L. Calcium percent difference 30-5930=96. 66% (Absolute value) Magnesium percent difference 10-2510=150% (Absolute value) 4) How many metric tons of Ca(OH)2 and NaCO3 be necessary to process 59 million gallons of wet per day based on the calculations of 1. a. and 1. b.?To run this water softening technique in a water plant processing 59 million gallons per day it would require 51 tons of Ca(OH)2 and 33 tons of NaCO3 2. 27*10-4kgL*223. 02*106L*(ton1000 kg)=51 tons of CaOH2 per day 1. 48*10-4kgL*223. 02*106L*(ton1000 kg)=33 tons of NaCO3 per day Discussion Hard water is an issue for industries that rely on large amounts of water to operate. Hardness generated by elements such as calcium and magnesium cat ions produce scum in pipes and with many industrial chemicals reduces their overall effectiveness. That is why it is important to have economic and reliable slipway of reducing water hardness in large scales.The item method used in this experiment was lime soda softening. It has to be noted that this particular procedure only works for water that has an initial pH level lower than 8. Based on stoichiometry and the addition rules according to Nazaroff and Alvarez-Cohen we are able to reveal what concentration of Ca(OH)2 and NaCO3 are needed to remove hardness from the water. Based on our results the softening of the water was a success. Initial total hardness was recorded at 328 mg/L, after softening the concentration was found to be 84 mg/L.Looking individually at the reduct ion of calcium and magnesium the concentration was reduced from 296 mg/L to 59 mg/L and 32 mg/L to 25 mg/L respectively. Even though a large amount of the hardness was removed from the water it was nowhere near the practical limit levels. This can be attributed to the fact that the reactions that dictate hardness remotion suffer from diminishing returns. Sources of error in this lab can be attributed to the fact that the sample water was only allowed to precipitate for 15 minutes sooner of the 20 that was required as stated by the procedure.

The Amish Way of Life

The Amish way of keep Sherri S. Archer-Taylor ANT101 Introduction to Cultural Anthropology Instructor Jason Gonzalez December 10, 2011 The Amish way of life-time I. The Amish way of life has many interesting c at one timepts and unique beliefs that set them apart from any other culture. While some may see the Amish way of life as a cult, in that location simplistic way of life and there family determine and beliefs make them virtuoso of the strongest sects in like a shots society. II. The Amish primary elan of subsistence is farming. Making them Horticulturalists.The Amish are farmers first they plant several crops every year depending on the season as well as women tending to gardens, the Amish feed themselves. A. match to Donald Kraybill (2001) the Amish have always been tillers of the soil and people of the land. B. When a young Amish couple gets married they are given a parcel of land by one of the fathers. This land is given so that the couple can get a head start on taki ng care of themselves and earning a living. C. The Amish people today do not habituate many modern day agriculture implements depending on the old ways to farm and harvest crops.III. The economy of the Amish is growing much complex. Where they were once mostly self-sustaining they are now finding it necessary to make and sell durable goods to supplement their income. A. According to Dr. George Kreps (1997) Tourism has not touched the core of Amish culture but it has had several lasting impacts. Such as traffic and crowds which make the Amish people shy away from certain areas because they do not like to interact with the common folk. B. Land has been harder to purchase for expansion due to rising cost.And the soil is no longer as plentiful as it once was. C. Amish now make furniture and other wood work items, and the women sew quilts and clothing to supplement the familys income. D. Food is never sold or traded if a family can find another means of income. Food is reserved to fee the family. IV. The Beliefs and values of the Amish people are core in there society. They have been practicing these beliefs and values since the beginning of the Amish order which was sometime around the 1880s. A. Holidays observed by the Amish re very religious during certain holidays the Amish people are more religious and family touch on than any other culture. B. Amish people wear white clothes for a burial and they wear blue to a wedding. When a funeral occurs in the Amish culture there are no flowers, the coffin is plain wood, and there is no singing. A hymn is spoken, there are no eulogies. C. According to Charles Hurst (2010) the Amish have survived by world plain and depending on hardly any new technology and with limited help from outsiders. V.While the rest of the world has progressed with technology and change the Amish have besides progressed with social change. A. The Amish travel stillness by horse and buggy only using a car to go on long important trips much(pr enominal) as to a hospital or to see relatives in another state. B. All men in an Amish society still wear beards. C. They are still firm in there want to be separated from the world. And place important emphasis on simplicity and humility. D. They shun members who have been excommunicated E. They still use horse and plow to farm their fields.F. They have no internet or computers but they do use calculators. The Amish are saucer-eyed people who live by farming, gardening, livestock and supplementing there income by wood working and quilt making. They choose to keep outsiders away from their lives. Their children are educated in a one agency school house by another usually female of the sect. the young men help their father with farming and milking duties and the young women help garden with their mothers with grooming and watching their younger siblings.Some people may think they are wired or that they act like a cult but their simple way of life and there strong ties to one anot her has insured that the Amish will continue enduring for a long time. REFERENCES Hurst Charles M. (1998) the religion and family connection 29 (13) 19 Retrieved from http//psycnet. apa. org/? &fa=main. doiLanding&uid=1988-97583-000 Kraybill, Donald B. Pages 423 (2001) Riddle of Amish Culture (Revised Edition) Retrieved from http//site. ebrary. com/lib/ashford/doc Dr. George Kreps (1997). The Impact of Tourism on the Amish Subculture Community Dev. J (1997) 32 (4) 354-367. doi 10. 1093/cdj/32. 4. 354

Projects: Life Insurance

PROJECT FINAL REPORT ON position assembly line determine of restitution companies competitive strategies BY SUBODH GUPTA (07BS4336) SBI keep damages Comp each trammel Summer Internship Project (Batch of 2009) PROJECT TITLE Agency business molding of damages companies competitive strategies A line submitted in partial fulfillment of the exigencys of MBA program COMPANY GUIDE FACULTY GUIDE Mr. Suresh Kumar V. Prof. T. N. Ramakumar DSM, Cali deal branch ICFAI Business SchoolKOCHI SUBMITTED BY SUBODH GUPTA (07BS4336) Certificate This is to plunk for that the stomach report entitled Agency business bewilder of redress polity companies competitive strategies at SBI c areer policy Company Limited is a bonafide record of drill done by Subodh Gupta, and submitted in partial fulfillment of the requirements of MBA program of ICFAI Business School, Kochi. Prof. T. N. Ramakumar Faculty Guide IBS kochi TO WHOMSOEVER IT MAY CONCERN This is to certify that Mr.Subodh Gupta, doing MBA at ICFAI Business School, Kochi has done a see to it entitled Agency business model of damages policy companies competitive strategies at SBI Life insurance union Limited, Calicut Branch from February 22, 2008 to May 24, 2008. From SBI Life Insurance Company LTD. Mr. Suresh Kumar V. Divisional Sales Manager Calicut Branch Declaration I hereby decl be that this report on Agency business model of amends companies competitive strategies has been written and prepargond by me during the academic year 2008-2009.This project was done infra the able management and supervision of Prof. T. N. Ramakumar, Faculty, ICFAI Business School and Mr. Suresh Kumar V. , DSM, SBI Life Insurance Company Ltd. , Calicut in partial fulfillment of the requirement for the Master Of Business Ad miniskirtstration compass point fall of the ICFAI Business School. I also decl ar that this project is the result of my own swither and has not been submitted to any opposite institution for the award of any Degree or Diploma. Place Kochi Subodh Gupta 07bs4336 Ack presentlyledgementsIf words are considered to be signs of gratitude then let these words convey the very same My sincere gratitude to SBI Life for providing me with an opportunity to work with SBI Life and big(a) necessary directions on doing this project to the best of my abilities. I am passing indebted to Mr. Suresh Kumar V. , Divisional Sales Manager and caller project guide, who has domiciliated me with the necessary in tuneation and also for the support go awayed stunned to me in the completion of this report and his valuable suggestion and comments on strikeing out this report in the best way possible.I also thank Prof. T. N. Ramakumar, ICFAI, Kochi, who has sincerely supported me with the valuable insights into the completion of this project. I am grateful to all cleverness members of ICFAI, Kochi and my friends who control helped me in the successful completion of this project. I extend my hearfelt th anks to Mr. Sukumaran, territory manger, Mr. Sunil K. Menon, unit bus, and Mr. Vinod P. , unit manager, to help me during this project. Contents Sr.No. Subjects deny Pages 1. Project Proposed 9 11 1. 1 Objective of the project 1. 2 Methodology 1. Sampling 1. 4 Limitations 2. Introduction 12 16 2. 1 commentary of amends 2. 2 Functions of amends policy 2. 3 Definitions of conduct indemnification 2. 4 Role of liveliness amends 2. 5 coarseness of deportment indemnity 3. Agency business model 17 19 3. Insurance agencies 3. 2 Functions of delegation manager 3. 3 Operational work of restitution deputation 4. Indian redress manuf guessuring 20 27 4. History 4. 2 IRDA 4. 3 Changing perception of customers 4. 4 Changing face of Indian brio damages sedulousness 4. Possibilities 5. Global insurance industry 28 29 6. Functioning of insurance industry 30 36 6. 1 Insurers business model 6. 2 enthronization managemen t 6. Key ratios and terms 6. 4 Requirements of an insurance try 6. 5 mingled types of insurance outputs 7. Insurance and miserliness 37 39 8. SBI Life insurance company 40 42 9. Distribution of insurance crossway 43 46 10. Effective securities industry strategies for insurance companies 47 52 11. Competitors of SBI Life 53 62 12. parity of ULIP products 63 69 13. Questioner 70 71 14. Conclusions and findings 72 91 15. Recommendations 92 1. Project proposed Agency business model of different insurance companies- competitive strategies. Different agencies of different insurance companies are having some strategies to survive in the trade. Their strategies may be in the form of How they target their customers. How they make their advisers active. How they make their operative and sales department effective. How they promote their employees. How they handle the conflict in manner. Objective of the project Main objective of the project is t o find out the strategies of different insurance agencies and evaluate them. Project is about to penetrate the competitors of SBI life. Conclusion of this project tramp reach out an idea of strategies of different companies which may be helpful to the company. Now daylights all the insurance companies in India are trying to establish themselves in the competitive mart. They are introducing innovative selling strategies to survive in the food market.Many other private companies are looking to enter in the Indian insurance market . so it is very natural to a company to innovate their marketing strategies in terms of Recruiting their advisors To make their advisors active Well educated and capable employee in the substance merchandising of their products Deployment of their products Targeting the correct and potential customers Differentiating from other companies Future plan of the company This study consists of to find out the marketing strategies of different insuran ce companies which are the competitors of SBI Life insurance.This inquiry requires the call into question of branch managers of different insurance companies and find out their branches are working in terms of above mentioned factors. Methodology Research is totally based on primary data. Secondary data provide be used just now for the reference. Research has been done by primary data collection, and primary data has been roll up by meeting with the branch and chest of drawers manager of different insurance agencies and branches in Calicut. Data collection has been done done with(predicate) by giving organise questioner. Research has been done after 27 branch managers or agency manager.This study will be based on judgment sampling and this research is skewed to organization level. This is an exploratory type of research. And this research requisites further study also Research is a kind of pilot study. Sampling prove size has been taken by judgment sampling. Judgment sa mpling is a process in which the choice of a unit, from the population is based on the pre judgment. This research requires the survey of different insurance agencies in Calicut city. So research concent range on the branch or agency manager of different insurance companies. So the selection of unit for this research has been judged by the researcher.Sample size for this research is 27. Limitations term limitation Research has been done precisely in Calicut. Companies did not disclose their secrets data and strategies. Possibility of Error in data collection. Possibility of Error in analysis of data due to small sample size. 2. Introduction The story of insurance is probably as old as the story of mankind. Tendency of a human cosmos to secure themselves against loss and disaster has been from the starting of arena. They sought to turn away the evil consequences of fire and flood and loss of life and were free to make some sort of sacrifice in order to achieve certificat ion.Though the fantasy of insurance is largely a exploitation of the recent medieval, particularly after the industrial era past few centuries yet its arisings date support close to 6000 age as per records. Insurance business is divided into four classes Life Insurance Fire Marine Miscellaneous Insurance. Insurance provides Protection to investor. Accumulation of nest egg. Channeling these nest egg into sectors needing spacious long term investment. Functions of insurance Provide protection The primary function of insurance is to provide protection against future attempt, accidents and un induction.Insurance tailnot check the hazard of the assay, but can certainly provide for the losses of risk. Insurance is actually a protection against economic loss, by sharing the risk with others. Collective military capability of risk Insurance is an instrument to share the financial loss of few among many others. Insurance is a mean by which few losses are shared amo ng big number of pack. All the see contribute the premiums towards a stock certificate and out of which the persons exposed to a particular risk is stipendiary. Assessment of risk Insurance determines the probable volume of risk by evaluating various factors that give rise to risk. risk of exposure is the basis for determining the premium rate also. Provide certainty Insurance is a device, which helps to change from uncertainty to certainty. Insurance is device whereby the uncertain risks may be made more certain. Small seat of government to coer bigger risk Insurance relieves the businessmen from security investments, by paying small measurement of premium against larger risks and uncertainty. Contributes towards the development of industries Insurance provides development opportunity to those larger industries having more risks in their setting up.Even the financial institutions may be prepared to give impute to sick industrial units which have insured their assets inc luding plant life and machinery. Means of nest egg and investment Insurance serves as savings and investment, insurance is a compulsory way of savings and it restricts the unnecessary expenses by the insureds For the purpose of availing income-tax exemptions also, quite a little invest in insurance. Source of earning foreign exchange Insurance is an international business. The country can earn foreign exchange by way of fare of marine insurance policies and various other ways. Risk free trade Insurance promotes exports insurance, which makes the foreign trade risk free with the help of different types of policies chthonian marine insurance cover. Life insurance Life insurance is a contract under which the insurer (Insurance Company) in Consideration of a premium paid undertakes to pay a fixed sum of money on The ending of the insured or on the expiry of a specified period of age Whichever is earlier. In case of life insurance, the payment for life insurance policy is certai n. The Event insured against is sure to happen only the time of its happening is not known. So life insurance is known as Life Assurance.The subject matter of insurance is life of human being. Life insurance provides risk reportage to the life of a person. On death of the person insurance offers protection against loss of income and compensate the title pallbearers of the policy. Roles of life insurance Life insurance as an investment Insurance products yield more than any other investment instruments and it also provides added incentives or bonus offered by insurance companies. Life insurance as risk cover Insurance is all about risk cover and protection of life. Insurance provides a unique sense of security that no other form of invest can provide. Life insurance as tax planning Insurance serves as an excellent tax saving mechanism too. Importance of life insurance- Protection against untimely death Life insurance provides protection to the dependents of the life insured an d the family of the assured in case of his untimely death. The dependents or family members get a fixed sum of money in case of death of the assured. Saving for old age After retirement the earning capacity of a person reduces. Life insurance enables a person to enjoy peace of mind and a sense of security in his/her old age. Promotion of savings Life insurance encourages people to save money compulsorily. When life policy is taken, the assured is to pay premiums regularly to keep the policy in force and he cannot get back the premiums, only surrender value can be returned to him. In case of surrender of policy, the policyholder gets the surrendered value only after the expiry of distance of the policy. Initiates investments Life Insurance Corporation encourages and diffuses the public savings and canalizes the same in various investments for the economic development of the country.Life insurance is an of import tool for the mobilization and investment of small savings. Cre dit worthiness Life insurance policy can be used as a security to raise loans. It improves the credit worthiness of business. complaisant Security Life insurance is important for the society as a solely also. Life insurance enables a person to provide for education and marriage of children and for construction of house. It helps a person to make financial base for future. Tax Benefit nether the Income Tax Act, premium paid is allowed as a deduction from the total income under section 80C. 3.Agency business model In India insurance is sold done mainly four dribbles. through with(predicate) branch Through agency Through financial institution Through banks Independent agency system means of interchange and servicing property and hap insurance through agents who represent different companies. The agents own the records of the policies they sell. Insurance is now governed by a blend of statutes, administrative agency regulations, and court decisions. State statutes a goo d deal control premium order, prevent unfair practices by insurers, and guard against the financial insolvency of insurers to protect insureds.In most states, an administrative agency created by the state general assembly devises rules to cover procedural details that are missing from the statutory framework. To do business in a state, an insurer essential obtain a licence through a registration process. This process is usually managed by the state administrative agency. The same state agency may also be supercharged with the enforcement of insurance regulations and statutes. Administrative agency regulations are many and varied. Insurance companies must submit to the establishment activity agency yearly financial reports regarding their economic stability.This requirement allows the agency to anticipate potential insolvency and to protect the fills of insureds. Agency regulations may specify the types of insurance policies that are acceptable in the state, although many sta tes make these declarations in statutes. The administrative agency is also responsible for reviewing the competence and ethics of insurance company employees. Insurance agencies Insurance agency can be defined as a theme of insurance agents or advisor. These agents or advisors create a dispersion channel to sell the different insurance products.These advisors are the blind drunkest scattering channel for an insurance agency. An advisor or agent works as a third party or intermediate among insurance company and customers. All the advisors in an agency work as a team. Main work of insurance advisor or agent is to promote and sell different insurance products of company. Functions of agency manager a person who governs a group of insurance advisors is known as agency manager. Success of an agency manager depends on the success of their advisors. work of agency manager is to control the advisors in an high-octane way.Agency manager is ilk a creature of two wings. He has to recrui t advisors as well as to give sales to the insurance company. To recruit advisors. Make them aware of different insurance products. To give them study session. To motivate them for efficient work. To get maximum and efficient work from their advisors. Operation work of insurance agency (SBI Life) Every industry has an operational department which supports the market division. Front office partners (independent agents) Develop insurance products advance productCUSTOMERS Plan and manage company BUSINESS PARTNERS Fulfill and work product Claims Back office provider Regulatory institutions In the reference to the SBI Life insurance, development of insurance products, distribution, planning services products and claims are taken care by the head office. Back office providers are those persons who take care of the operational part of the organization and front office providers are the people who brings sell to the organization. Back office has its own hierarchy which is connected to head office, and every policy has to be processed to head office.Unit for the operations is known as processing centre, and processing centre within the city is known as mini processing centre. Proposal forms come through front office and the verification of the proposal is done by manually which is known as exam. After scrutiny the operational staff enters it in SBI Life website, which is done online. the entry of a proposal is done in a sequential order starting with scrutiny, inwards, proposal wise inwards, cashier entry, cashier entry approval, data entry and finally outwards.After finishing all these operations policy issues from the head office of the state. 4. Indian insurance industry History Life insurance came to India from England in 1818 when oriental life insurance company started in Calcutta by Europeans. After this many insurance companies had been started in India. But these companies were looking after only the needs of European community established in India. Indian people were not being insured by these companies. First Indian life insurance company came as Bombay mutual life insurance assurance. Second company was Bharat insurance company came in 1896.After this the united India in madras, national Indian and national insurance in Calcutta and the co-operative assurance in Lahore were established in 1906. To regulate Indian insurance business first insurance act came in 1912 as life insurance company act and provident fund act. These acts consist of premium rates tables and periodical valuations of companies. In the first two decade of 20th century many life insurance companies were started. So the insurance act came in 1938 to governing life and non life insurance companies and to provide strict state control. In 1956 the life insurance business in India was nationalized.In 1956 life insurance mint of India (LIC) was created to spreading life insurance much more dewy-eyedly particularly in country areas. In that year LIC had 5 zona l offices, 33 divisional offices and 212 branch offices. In 1957 the business of LIC of sum assured of 200crores, 1000crores in 1970, and 7000crores in 1986. Indian regulatory development authority In 1999, the Insurance Regulatory and maturation Authority (IRDA) was constituted as an autonomous body to regulate and develop the insurance industry. The IRDA was incorporated as a statutory body in April, 2000.The tonality objectives of the IRDA include promotion of competition so as to enhance customer satisfaction through increased consumer choice and lower premiums, while ensuring the financial security of the insurance market. The IRDA opened up the market in August 2000 with the invitation for application for registrations. Foreign companies were allowed ownership of up to 26%. The Authority has the power to frame regulations under Section 114A of the Insurance Act, 1938 and has from 2000 onwards framed various regulations ranging from registration of companies for carrying on i nsurance business to protection of policyholders interests.Role of IRDA Protecting the interests of policyholders. Establishing guidelines for the operations of insurers, and brokers. Specifying the code of conduct, qualifications, and training for insurance intermediaries and agents. Promoting efficiency in the conduct of insurance business. Regulating the investment of funds by insurance companies. Specifying the percentage of business to be written by insurers in rural sectors. Handling disputes take careween insurers and insurance intermediaries. Changing perception of Indian customersIndian Insurance consumers are like Indian Voters, they are squishy but when time is right and ripe, they demand and seek necessary changes. De-tariff of many Insurance Products are the reflection of ever-changing aspirations and growing demand of Indian consumers. For historic years, Indian consumers were at receiving end. Insurance Product was underwritten and was practically forced onto consumers on a Take-it-As-it-basis. All that got changed with passage of IRDA act in 1999. New insurance companies have come into existence tether to open competition and hence better products for customers.Indian customers have become very sensitive to Coverage / Premium as well as the Products (read Risk Solution), that is given to them. There are not ready to accept any product, no matter even if that is coming from the market leader, should that product is not serving the purpose. A case in point is ULIP Product / host Life and Credit Life in Life Insurance segment and Travel / Family Floater Health and Liability Insurance in the Non-life segment are new age Avatar. The new products are constantly being demanded by Indian consumers, which is putting huge pressures on Insurance companies (Read Risk Under-writers) and Brokers to respond.Customers are looking at Insurance for covering Pure Risk now which I have cover in my next section. Another good reason why we are seeing quic k changes in the buying style of Insurance from mere Investment to risk mitigation is the cost of Replacement of Goods (ROG) or Cost of Services (COS). Now Indian customers are aware of insurance industry and insurance products provided by companies. They have become more sensitive. They would not accept any type of insurance product unless it fulfills their requirements and needs.In historic days customers looking at insurance products as a life cover which can provide security against any unacceptable events, but now customers look at insurance products as an investment as well as life cover. So todays customers wants good return from the insurance companies. The Indian customers forms the pivot of each companys strategy. Investment of Indian household savings (as a % in different sector) believe DEPOSITS 39% CORP.BANKS 2% SHARES AND DEBENTURES 1% MUTUAL FUNDS 2% NBFCS 3% GOVT.BONDS 13% INSURANCE 13% PF/ RETIRE FUNDS 21% cash 6% Source www. vivaindia. com Changi ng face of Indian insurance industry After the Insurance Regulatory and Development Authority Act have been passed thither has been establishment of many private insurance companies in India. Previously there was a monopoly business for Life Insurance Corporation of India (L. I. C. ) who was the only life-insurance company for the people till 2000. L. I. C. still holds 71. 4% of the market share in 2006. But after the introduction of private life insurance companies there is a great competition in Indian market now.Everyone is trying to capture the fresh market here and penetrate it with aggressive marketing strategies. Today life-insurance is not only limited up to just life risk cover and maturity period bonuses but changed to greater return from the investments. With the introduction of the unit linked insurance policies these companies are investing the money in different investment instruments like shares, bonds, debentures, disposal and other securities. People are demanding for higher returns with the life risk cover and private companies are giving 30-40% fair ingathering per annum.These life-insurance companies have every kind of policies suiting every need right from financial needs of, marriage, giving birth and rearing up a child, his education, meeting daily financial needs of life, pension solutions after retirement. These companies have every aspects and needs of our life covered along with the death-benefit. In India only 25% of the population has life insurance. So Indian life-insurance market is the target market of all the companies who either want to extend or diversify their business.To tap the Indian market there has been tie-ups between the major Indian companies with other International insurance companies to start up their business. The government of India has set up rules that no foreign insurance company can set up their business individually here and they have to tie up with an Indian company and this foreign insurance company ca n have an investment of only 24% of the total start-up investment. Indian insurance industry can be featured by Low market penetration. Ever growing middle class component in population. Growth of customers interest with an increasing demand for better insurance products. Application of information technology for business. Rebate from government in the form of tax incentives to be insured. Today, the Indian life insurance industry has a dozen private players, each of which are making strides in raising awareness levels, introducing innovative products and increasing the penetration of life insurance in the vastly underinsured country. Several of private insurers have introduced attractive products to meet the needs of their target customers and in line with their business objectives. The success of their effort is that they have captured over 28% of premium income in five years.The biggest beneficiary of the competition among life insurers has been the customer. A wide range of products, customer pointed service and professional advice has become the mainstay of the industry, and the Indian customers forms the pivot of each companys strategy. Penetration of life insurance is beginning to cut across socio-economic classes and attract people who have never purchased insurance before. Life insurance is also now being regarded as a versatile financial planning tool. Apart from the traditional term and saving insurance policies, industry has seen the entry and growth of unit linked products.This provides market linked returns and is among the most ductile policies available today for investment. Now products are costd, flexible, and realistic and sustain so people in better position to understand the risk and benefits of the product and they are accepting these innovative products. So it is clear that the face of life insurance in India is changing, but with the changes come a host of challenges and it is only the credible players with a long term vision and a robust business strategy that will survive.Whatever the developments, the future and the opportunities in this industry will surely be exciting. There are 12 private players in Indian life insurance market. 6 bank owned insurers HDFC standard life, ICICI prudential, ING Vysya, MetLife, OM Kotak, SBI life. 6 independent insurers Aviva, ANP sanmar, Birla solarize life, Bajaj Allianz, Max New York life, Tata AIG. Major international insurers are- Prudential and Standard life from UK, Sun life of Canada, AIG, MetLife and New York life of the US. Increasing growth since liberalization course LIC (in bn rs. ) PRIVATE PLAYER FY03 110 10 FY04 120 20 FY05 130 40 FY06 140 60 FY07 240 160 Source Insurance Industry (ICFAI emergence book) Possibilities for insurance companies in India Further deregulation of the market. Greater concern for the customers. Newer products and services. Competition and quality consciousness. Cost effective operations. Restructuring of the pub lic sector. Consolidation of domestic insurance markets. technology driven shift in product design. Actual operations and distribution. Convergence of financial services. 5. Global insurance industry Globally, insurers increasingly are pressured by the demands of their clients. The development of world-wide insurance industry over the past few years was influenced by booming stock markets which enabled considerable capital gains to be made in non life business.Increase in insurers equity capital increased underwriting capacity, while demand did not develop at the same pace, resulting in decrease in insurance policies prices. The stock market boom of the past few years led to demand for unit linked insurance products. The global insurance industry is growing at rapid pace. Most of the markets are undergoing globalization. Lot of mergers and acquisition are taking place in the insurance world. The rapidity in the industry, scientific improvement has resulted in pressures on a f ew economic parameters. The world insurance industry is at peak of its globalization process. Global insurance market is increasing by an average of six percent per year since 1990. Insurance companies have collected $2443. billion premium world wide according to the global development of premium volume in 144 countries in 2005. $1521. 3 has been generated as life insurance premium and $922. 7 as non life insurance premium. The US accounted for 35% of global life and non life premium, Japan had global share of 21%, and UK was having 10% of global share. Influence on Indian insurance industry In this era of globalization, insurance companies face a dynamic global environment. Dramatic changes are taking place owing to the internationalization of activities, demeanor of new risk, new types of covers to match with new risk situations, and unconventional and innovative ideas on customer services.Low growth rates in developed markets, changing customers needs, and the uncertain economic conditions in the developing world are exerting pressure on insurers resources and testing their ability to survive. Now the existing insurers are facing difficulties from non-traditional competitors those are entering the retail market with new memory accesses and through new channels. India has a rapidly growing middle class and this section can afford to buy insurance products. This shows the attraction that the Indian market holds for foreign insurers who have been putting pressure on developing countries as well as on India to open up its market. Life insurance penetration as a % of GDP United kingdom 8. 9% Japan 8. 3% Korea 7. 3% United states 4. 1% Malaysia 3. 6% India 3. % China 1. 8% Brazil 1. 3% Source www. indianinsuranceresearch. com 6. Functioning of insurance industry Insurers business model Profit = earned premium + investment income incurred loss underwriting expenses Insurers make money in two ways (1) through underwriting, the processes by whi ch insurers select the risks to insure and go under how much in premiums to charge for accepting those risks and (2) by investing the premiums they collect from insured.The most difficult aspect of the insurance business is the underwriting of policies. Using a wide assortment of data, insurers predict the likelihood that a claim will be made against their policies and price products accordingly. To this end, insurers use actuarial science to quantify the risks they are willing to assume and the premium they will charge to assume them. Data is analyzed to fairly accurately project the rate of future claims based on a given risk. Actuarial science uses statistics and probability to analyze the risks associated with the range of perils covered, and these scientific principles are used to determine an insurers overall motion-picture show.Upon termination of a given policy, the amount of premium collected and the investment gains thereon minus the amount paid out in claims is the insu rers underwriting profit on that policy. An insurers underwriting performance is measured in its unite ratio. The loss ratio (incurred losses and loss-adjustment expenses divided by net earned premium) is added to the expense ratio (underwriting expenses divided by net premium written) to determine the companys feature ratio. The combined ratio is a reflection of the companys overall underwriting profitability. A combined ratio of less than 100 percent indicates underwriting profitability, while anything over 100 indicates an underwriting loss. Insurance companies also earn investment profits on float. Float or available reserve is the amount of money, at hand at any given moment that an insurer has collected in insurance premiums but has not been paid out in claims. Insurers start investing insurance premiums as soon as they are collected and continue to earn interest on them until claims are paid out. . Naturally, the float method is difficult to carry out in an economically depr essed period. Bear markets do cause insurers to shift away from investments and to toughen up their underwriting standards. So a poor economy broadly speaking means high insurance premiums. This tendency to swing between profitable and unprofitable periods over time is commonly known as the underwriting or insurance cycle. Finally, claims and loss handling is the materialized utility of insurance.In managing the claims-handling function, insurers seek to balance the elements of customer satisfaction, administrative handling expenses, and claims overpayment leakages. Investment management Investment operations are ofttimes considered incidental to the business of insurance, and have traditionally viewed as secondary to underwriting. In the past risk management was the most important part of business, whereas today the focus has shifted to fund management. Investment income is a large component of insurance revenues, skilful and careful management of funds. Insurance is a business of large numbers and generates huge amount of funds over time.These funds arise out of policyholder funds in the case of life insurance, and technical and free reserves in the non-life segments. Time lag between the procurement of premium and the payment of claim provides an interval during which the funds can be deployed to generate income. Insurance companies are among the largest institutional investors in the world. Assets managed by insurance companies are estimated to account for over 40% of the worlds top ten asset managers. Returns on investments influence the premium rates and bonuses and hence investment income will continue to be an important component of insurance company profits. In life insurance, benefits from insurance profits accrue today to policy holders when it is passed on to him in the form of a bonus.In non life insurance the benefits are indirect and mostly by the creation of an investment portfolio. Investment income has to compensate for underwriting results which are increasingly under pressure. In the case of insurance, the difference between revenue and the expenses is known as operating surplus. Revenue =premium. Expenses =sum of claims + bang payable on procurement of business + operating expenses. Operating surplus =revenue-expenses. Net investment income includes income from trading in and holding stock market securities including government securities, special deposits with the central government, loans to several public utilities and service providers in state government.Insurance premium collected is converted in a pool of fund then divided in to four expenses. To pay the expenses of the management. To pay agency commission. To pay for the claims. Surplus money will be invested in govt. securities. Requirements of an insurance risk Insurance normally insure only pure risks . However, not all pure risk is insurable . certain requirements usually must be fulfill before a pure risk can be privately insured . From the view point of the insurer, there are ideally six requirement of an insurable risk There must be a large number of exposure units The loss must be accidental and unintentional. The loss must be determinable and measurable. The loss should not be catastrophic. The chance of loss must be calculable. The premium must be economically feasible Comparison of Insurance with other Similar Factors 1) Insurance and gambling compared Insurance is often erroneously confused with gambling . There are two important differences between them . First ,gambling creates a new speculative risk ,while insurance is a technique for handling an already existing pure risk . thus ,if you bet Rs 300 on a horse ,a new speculative technique is created ,but if you pay Rs 300 to an insurer for fire insurance ,the risk of fire is already present and is transferred to the insurer by a contract. No new risk is created by the transaction.The second difference between insurance and gambling is that gambling is socially unproductive, because the winners gain comes at the expense of the loser . In contract insurance is always socially productive, because neither the insurer nor the insured is dictated in a position where the gain of the winner comes at the expense of the loser. The insurer and the insured have a common interest in the measure of a loss. Both parties win if the loss does occur . Moreover, consistent gambling transaction generally never restore the losers to their former financial position . In contract ,insurance contracts restore the insureds financially in whole or in part if a loss occurs ) Insurance and hedging compared The pattern of hedging is to transferring the risk to the speculator through purchase of future contracts . An insurance contract, however, is not the same thing as hedging . Although both technique are similar in that risk is transferred by a contract, and no new risk is created, there are some important difference between them. First, an insurance transaction involves the transfer of insurable risks, because the requirement of an insurable risk generally can be met . However, hedging is a technique for handling risks that are typically uninsurable ,such as protection against a decline in the price agriculture products and raw materials.A second difference between insurance and hedging is that insurance and hedging is that insurance can reduce the objective risk of an insurer by application of the law of large numbers. As the number of exposure units increases, the insurers prediction of future losses improves, because the relative variation of actual loss from expected loss will decline . thus, many insurance transactions reduce objective risk. In contract, hedging typically involves only risk transfer , not risk reduction . The risk of adverse price fluctuation is transferred because of superior knowledge of market conditions . The risk is transferred, not reduced, and prediction of loss generally is not based on the law of large numbe rs. Various types of life insurance policies- Endowment policies This type of policy covers risk for a specified period, and at the end of the maturity sum assured is paid back to policyholder with the bonuses during the term of the policy. Money back policies This type of policy is for periodic payments of partial survival benefits during the term of the policy as long as the policy holder is alive. Group insurance This type of insurance offers life insurance protection under group policies to various groups such as employers-employees, professionals, co-operatives etc it also provides insurance coverage for people in certain approved occupations at the lowest possible premium cost. Term life insurance policies This type of insurance covers risk only during the selected term period.If the policy holder survives the term, risk cover comes to an end. These types of policies are for those people who are unable to pay larger premium required for endowment and whole life policies. No surrender, loan or paid up values are in such policies. Whole life insurance policies This type of policy runs as long as the policyholder is alive and is covered for the entire life of the policyholder. In this policy the insured amount and the bonus is payable only to campaigner on the death of policy holder. Joint life insurance policies These policies are similar to endowment policies in maturity benefits and risk cover, but joint life policies cover two lives simultaneously such as married couples.Sum assured is payable on the first death and again on the death of survival during the term of the policy. Pension plan a pension plan or annuity is an investment over a certain number of years but does not provide any life insurance cover. It offers a guaranteed income either for a life or certain period. Unit linked insurance plan ULIP is a kind of insurance plan which provides life cover as well as return on premium paid over a certain period of time. The investment is denote d as units and represented by the value called as net asset value (NAV). 7. Insurance and economy Indian economy is growing in reference to global market. Business of insurance with its unique features has a special place in Indian economy. It is a highly specialized technical business and customer is the most concern people in this business, therefore this business is able to spur the growth of basis and act as a catalyst in the overall development of Indian economy. The high volumes in the insurance business help spread risk wider, allowing a lowering of the rates of the premium to be charged and in turn, raising profits. When there is a bigger base, the probabilities become more predictable, and with system wide risks equilibrise out, profits improve. This explains the current scenario of mergers, acquisitions, and globalization of insurance. Insurance is a type of savings. Insurance is not only important for tax benefits, but also for savings and for providing security. It can be serving as an essential service which a welfare state must make available to its people. Insurance play a polar role in the commercial lives of nations and act as the lubricants of economic activities. Insurance firms help to spread the potentially financial consequences of risk among the large number of entities, to mobilize and distribute savings for productive use, facilitate investment, support and encourage external trade, and protect economic entities against external risk. Insurance and economic growth mutually influences each other. As the economy grows, the living standards of people increase. As a consequence, the demand for life insurance increases. As the assets of people and of business enterprises increase in the growth process, the demand for general insurance also increases.In fact, as the economy widens the demand for new types of insurance products emerges. Insurance is no longer confined to product markets they also cover service industries. It is equally true that growth itself is facilitated by insurance. A well-developed insurance sector promotes economic growth by encouraging risk-taking. Risk is inherent in all economic activities. Without some kind of cover against risk, some of these activities will not be carried out at all. Also insurance and more particularly life insurance is a mobilizer of long term savings and life insurance companies are thus able to support infrastructure projects which require long term funds.There is thus a mutually beneficial interaction between insurance and economic growth. The low income levels of the vast mass of population have been one of the factors inhibiting a faster growth of insurance in India. To some extent this is also compounded by certain attitudes to life. The economy has moved on to a higher growth path. The average rate of growth of the economy in the last three years was 8. 1 per cent. This strong growth will bring about significant changes in the insurance industry. At this poi nt, it is important to note that not all activities can be insured. If that were possible, it would all negate entrepreneurship.Professor Frank Knight in his celebrated book Risk Uncertainty and Profit emphasized that profit is a consequence of uncertainty. He made a distinction between quantifiable risk and non-quantifiable risk. According to him, it is non-quantifiable risk that leads to profit. He wrote It is a world of change in which we live, and a world of uncertainty. We live only by knowing something about the future while the problems of life or of conduct at least, arise from the fact that we know so little. This is as true of business as of other spheres of activity. The real management challenges are uninsurable risks. In the case of insurable risks, risk is avoided at a cost. 8. SBI Life insuranceSBI Life insurance is a joint venture between the State Bank of India and Cardiff SA of France. SBI Life insurance is registered with an authorized capital of Rs 500 crore and a paid up capital of Rs 350 crores. SBI owns 74% of the total capital and Cardiff the remaining 26%. State Bank of India enjoys the largest banking franchise in India. along with its 7 Associate Banks, SBI Group has the unrivalled strength of over 14,000 branches across the country, the largest in the world. Cardiff is a wholly owned subsidiary of BNP Paribas, which is The Euro Zones leading Bank. BNP is one of the oldest foreign banks with a presence in India dating back to 1860. It has 9 branches in the metros and other major towns in the country.Cardiff is a vibrant insurance company specializing in personal lines such as long-term savings, protection products and creditor insurance. Cardiff has also been a pioneer in the art of selling insurance products through commercial banks in France and 29 more countries . In 2004, SBI Life insurance became the first company amongst private insurance players to cover 30 lakh lives. The company expects to carve a niche in the Indian insura nce market through extensive product innovation and aims to provide the highest standards of customer service through a technological interface. To facilitate this, call centres have been already installed and help lines will be installed and customers will have entrance money to their accounts through the Internet or through SBI branches.SBI Life insurance is uniquely placed as a pioneer to usher banc assurance into India. The company hopes to extensively implement the SBI Group as a platform for cross-selling insurance products along with its numerous banking product packages such as housing loans, personal loans and credit cards. SBIs access to over 100 million accounts provides a vibrant base to build insurance selling across every region and economic strata in the country. Under section 88 of insurance act 1961 an individual is entitled to a rabbet of 20 per cent on the annual premium payable on his/her life and life of his/her children or adult children. The rebate is deduc tible from tax payable by the individual or a Hindu Undivided Family.This rebate is can be availed up to a maximum of Rs 12,000 on payment of yearly premium of Rs 60,000. By paying Rs 60,000 a year, you can buy anything upwardly of Rs 10 lakh in sum assured. (Depending upon the age of the insured and term of the policy) This means that you get an Rs 12,000 tax benefit. The rebate is deductible from the tax payable by an individual or a Hindu Undivided Family. SBI Life Insurance is currently growing at an impressive rate of 200%. As per the modish IrDA report SBI Life ranks No. 3 amongst the private insurers. The companys market share has increased to 10% amongst the private players and is 2. 25% in the total industry. This year, the company is aiming at a growth of 150%.The new business premium of the company from beginning of the year to September 2006 is Rs 660 crores. The total business premium of the company from the beginning of the year till September 2006 is Rs 765 crores. The company aims to collect first year premium of over Rs 2,000 crores. SBI Life follow a multi distribution channel approach and expect all channels to contribute to the overall growth. Today, the agency channel contributes over 50% and banc assurance channel contributes to 40% of the business. Other channels like Credit Life and Group Corporate are also performing very well. Products of SBI Life insurance (Source www. sbilife. co. n) Unit Linked products (1) Group Employee Benefit Products position 11 Retirement Solutions Unit Pus 11 Cap Assure Gratuity Unit plus child Plan Cap Assure obsoleteness Unit Plan Elite Cap Assure Leave Encashment PensionProducts Group Immediate Annuity Horizon 11 Pension SBI Life palmy Gratuity Unit Plus 11 Pension Protection Plan Lifelong Pension Sampoorn Suraksha Pure Protection Products SBI Life Group Term Life Scheme In Lieu of EDLI Swadhan Specialized Term Insurance Shield SBI Life Keyman Insurance keyman (2) Group Loan Protect ion Products Protection cum savings products Dhanaraksha Plus Sudarshan Dhanaraksha Plus SP Scholar11 Dhanaraksha Plus LPPT Setubandhan Dhanaraksha Plus RP Money back scheme products (3) Group Savings Protection Plan Money Back Nidhi Raksha RP Sanjeevan Supreme (4) Group Micro Insurance Grameen Shakti and Super Suraksha 9. Distribution of insurance products Insurance has to be sold the world over. The Touch point with the ultimate customer is the distributor or the producer and the role played by them in insurance markets is critical. It is the distributor who makes the difference in terms of the quality of advice for choice of product, servicing of policy smirch sale and settlement of claims. In the Indian arket, with their distinct cultural and social ethics, these conditions will play a major role in shaping the distribution channels and their effectiveness. In todays scenario, insurance companies must move from selling insurance to marketing an essential financial pr oduct. The distributors have to become believe financial advisors for the clients and trusted business associates for the insurance Companies. Challenges for insurance companies and intermediaries in India- Building faith about company in the mind of clients. Building personal credibility with the clients. Different distribution channels in India- A multi-channel strategy is better suited for the Indian market. Indian insurance market is a combination of multiple markets. Each of the markets requires a different approach.Apart from geographical spread the socio-cultural and economic segmentation of the market is very wide, exhibiting different traits and needs. Different multi-distribution channels in India are as follows Agents Agents are the primary channel for distribution of insurance. The public and private sector insurance companies have their branches in almost all parts of the country and have attracted local people to become their agents. Todays insurance agent has to know which product will appeal to the customer, and also know his competitors products to be an effective salesman who can sell his company, the product, and himself to the customer.To the average customer, every new company is the same. Perceptions about the public sector companies are also cemented in his mind. So an insurance agent can play an important role to create a good image of company. Banks Banks in India are all pervasive, especially the public sector banks. Many insurance companies are selling their products through banks. Companies which are bank owned, they are selling their products through their parent bank. The public sector banks, with their vast branch networks, are helpful to insurance companies. This channel of selling insurance is known as Banc assurance. INSURANCE COMPANY ASSOCIATEBANKS ICICI prudential ICICI bank, bank of India, Citibank, Allahabad bank, Federal bank, south Indian bank, Punjab and Maharashtra cooperative bank SBI life State bank of Ind ia Birla sun life Deutsche bank, Citibank, bank of Rajasthan, Andhra bank ING Vysya bank Vysya bank Aviva life insurance ABN amro bank, canara bank HDFC standard life Union bank, Indian bank Met life Karnataka bank, j&k bank Source Hindu Business Line, January 08, 2007 Brokers Now a days different financial institution are selling insurance. These financial institutions are known as brokers. They are taking some underwriting charges from the insurance companies to sell their insurance products. Corporate agents Corporate agency is a cross selling type of channel. Insurance companies tie-up with business houses in other industries to sell insurance either to their employees or their customers.Insurance industry, during the past 2 years has witnessed a number of such strategic tie-ups and alliances. Corporate agents have become a major force to reckon with in distributing insurance products. Such as- Bajaj Allianz tied up with Maruti Udyog and Ford for auto insurance and Tata AIG life has tied up with Tata tea, khaitans Williamson major and bridge foundation for selling rural policies. Internet In this technological world internet is also a channel of selling insurance. This can be as direct marketing. 10. Effective marketing strategies Now the Indian consumer is knowledgeable and sensitive. Consumers are increasingly more aware and are actively managing their financial affairs.People are increasingly looking not just at products, but at integrated financial solutions that can offer stability of returns along with total protection. In view of this, the insurance managers need to understand more about the details that go into the introduction of insurance products to make it attractive in this competitive market. So now days an insurance manager requires leadership, commitment, creativity, and flexibility. Every family in every village in the country should feel safe and secure. This vision alone will help to bring the new ideas to the insurance man ager. Financial, marketing and human resource polices of the corporations influence the unit mangers to make decisions. Performance of insurance company depends on the effectiveness of such policies.Insurance corporations formulate and revise these policies from time to time to ensure that the performance of the managers is best for the organization. In the competitive market, insurance companies are being forced to adopt a strictly professional approach in marketing. The insurance companies face the challenge of changing the uninspiring public image of the industry. Some of the important marketing elements are- Marketing mix. The importance of relationship. Positioning. Value addition. Segmentation. Branding. Insuring service quality. Effective pricing. Customer satisfaction research. The growth of insurance sector is governed largely by factors external to it. The following factors influence the market and demand of product- Government policies. Growth in population. Ch anging age profile. Income wise distribution of the population. Level of insurance awareness. The pricing of the policies. The economic climate of the country. The aversion to risk. Social and political features of the country. Growth scenario in the world. Different companies adopt different approaches in their marketing strategies. One approach is focus upon product quality which can give confidence in the mind of customers that they are offered by best featured products. And other approach is focusing on customers needs, which involve a heavy investment in developing relationships with policyholders.Under this approach customer can expect a range of products and service offered to him. Third approach is market segmentation under which the population can be divided into several homogeneous products and groups, the effort should be tie clients to the company by customized combination of coverage, well-off payment plans, risk management advice, and convenient and quick claim handling. An insurance product can be classified in three phases Core product In insurance industry the core product is the policy that provides protection t