The Icfai University Press on Insurance: Global Insurance Environment

Global insurance platform has witnessed a phenomenal change in the past five years. The forces of globalization and liberalization have brought the insurance companies across the world closer to each other than ever before. The insurance landscape has changed significantly over the years due to many unforeseen incidents around the world like 9/11, SARS, derailment of corporate governance, natural disasters like Tsunami, Hurricane Katrina etc. Outsourcing is another major development in the insurance sector. Waning margins, massive claims disbursement and increasing competition in recent years, especially post 9/11, have compelled insurance companies to opt for outsourcing, to improve efficiency and channelize resources towards the core functions like product development and innovation. The book captures articles that address recent developments in the insurance sector on a global scale. The articles broadly cover the present tendencies, the administration of accounts and the regulatory environment and the global reinsurance trends in the Insurance sector.