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Insurance Project Essay

7396 words - 30 pages

Adamjee Life Assurance Company

Introduction:

The formation of Adamjee Life is a result of the partnership between Adamjee Insurance and Hollard, South Africa. Both partners are well established, giving Adamjee Life the advantage to add tremendous value to the lives of its customers and the businesses of its clients.
Adamjee Life's dedicated staff shares the philosophy of partnership and understands the dynamics involved in caring for our business associates. This philosophy of partnership adds much more value to the relationship than the traditional approach of just being a product provider. The senior management team at Adamjee Life is well equipped to deliver in all areas of ...view middle of the document...

• Adhere to applicable laws and regulations governing our business conduct.
• Provide intelligent and innovative solutions to meet our client’s requirement through a practical approach which creates new value and accelerates our delivery of quality system and services.
• Promote integrity in all our relationships
• Create a dignified workplace based on honest, open and respectful communication as well as fair and unbiased treatment of each other and all our partners.
• Provide an atmosphere that attracts and retains employees and fosters pride in the organization
PRODUCT STRATEGY
At Adamjee Life our focus is on developing tailor made, unique insurance solutions for our customers which include saving, investment, health and protection plans to cater to a wide customer segment. Our focus on innovation and automation provides us with a robust system and reduces time to market considerably and lowers distribution cost thus passing the benefit to the customer. By developing strong and unconventional distribution channels we make accessibility to insurance products convenient for the customers hence strengthening the chances of increasing market penetration. The prime consideration is to educate customers and create insurance awareness by effectively promoting and positioning the brand through:
• Innovative products
• Competitive pricing
• Flexibility
• Simplicity
• Availability and accessibility

Products

[pic] Corporate Plans
• Group Life
• Group Credit Card

[pic] Protection Plans
• Pure life Protection Plan
• Money Back Protection Plan

[pic] Health Plans
• Accidental Hospitalization
• Critical illness

[pic] Credit Life Plans
• Personal Loan Protection
• Home Loan Protection
• Automobile Loan Protection

American Life Insurance Co. (Pak.) Ltd

Introduction

ALICO first started its operation in Pakistan in1952 and continued until 1972, when the life insurance industry was nationalized. By that time, the ALICO had issued 72,000 policies and had invested more than USD 36 million in the country’s economy. After denationalization, ALICO became the first foreign life insurer that had been granted a license in 1994 to operate in Pakistan. It commenced the operations on May 25, 1995 with a paid up capital of PKR 130 million. Today it is the largest capitalized private sector multinational life insurance company in Pakistan with a paid-up capital of PKR 500 million. ALICO Pakistan is a listed company jointly owned by its American parent and the Pakistani public. Along with commitment, it brings to Pakistan extensive international experience and modern technology to conduct the insurance business in a sophisticated and professional manner

|Mission |“ To build value for our policy...

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