Internship report on insurance company

Wednesday, August 31, 2016

Internship report on insurance company

Internship report on insurance company 2016-2017

Internship experience is very important and helpful before anyone goes looking for a job. Employers want people who have experience. Internship gives students the opportunity to grow, academically and personally. When anyone initially starts out he is going to be doing the menial repetitive task that every new person had to do. However this is not necessarily negative as it teaches the person responsibility at the smallest level.

Askari insurer has nineteen branches in Islamic Republic of Pakistan in fifteen Cities and main objective is to supply its customers with safe, secure and reliable service through big selection of merchandise. The report covers all the merchandise data provided by the Askari insurance company: Profile of Askari insurer, during this regard i attempted to given the data of Askari insurer. . within the profile of the corporate i'm making an attempt to giving all the attainable offered data of the Askari insurer. Company business method, during this section i attempted to elaborate all the functions that square measure performed by every department of Askari insurer and also as discuss regarding the key merchandise of the Askari insurer that square measure extremely concerned within the progress of company.

SWOT analysis of company, within the section, I humbly expressed the strength and weakness and yet as chance and threats of the organization. It terribly tough to pin out weakness of the AGICO however i attempted our boundary during this regard. issues and suggestions, during this portion of the report I discuss regarding some issues and yet as offer some suggestions and suggestions to over return these issues. it'd be useful for the AGICO. i think that this report can offer some vital info relating to my departments (Claim department, Underwriting department, selling department and Accounts). I conjointly describe my experiences in these departments and that i am certain it'd be useful for all. Underwriting and alternative is claim department. That’s why, Branch Manager to be found having a lot of thought on these department and in person to seem when terribly fastidiously. The SWOT analysis is roofed within the report back to show the standing of the corporate within the recent market.

How to Insurance company work

Agico believes in the phrase “customer comes first”. AGICO objective is to please their customers by fulfilling the insurance needs as best as possible. They believe in placing the client at the center of business and all of the products and services.
Service excellence is one of the objectives of AGICO.
AGICO strives continually on the development of new areas of activities to distinguish itself in the market place along with traditional insurance Companies activities.
AGICO objective is the complete automation and computerization of all of its insurance activities.
AGICO Training and Development program of its employees is aimed at developing skills of its employees. It makes positive contribution to the service culture of the insurance system as a whole.

When we have a tendency to checked out the character of insurance we take it as a standard pool. The contributions of the many individuals were created to the pool and therefore the losses of the few were met from it. In essence the task of the underwriter is to manage this pool as effectively and fruitfully as he will. Thinking of the role of the underwriter during this method we have a tendency to might say that he has to:

The first task of the underwriter is to assess the chance that person brings to the common pool. There square measure numerous definitions of risk and variety of various associated terms. one amongst the terms we have a tendency to examined was hazard. we have a tendency to differentiated hazard from peril by speech communication that peril was the event giving rise to the loss itself, similar to collision, fire, theft. Hazard was the issue which could once the frequency or severity of the peril.

Underwriter has the task of assessing the hazard that is related to the assorted perils dropped at the common pool. There square measure 2 aspects of hazard, physical and ethical with that the underwriter cares.

In the early days of marine insurance, the details of a ship or cargo to be insured would be described on a slip. This slip would be taken to Lloyd's and the person who was to carry the risk would read the details and then sign the slip under the details of the risk. In this way the person carrying the risk became known as the underwriter. The underwriting process is far more complicated nowadays but the term still applies.