0:06 Hello participants, welcome to this
0:09 module on course on insurance. My name
0:11 is Shankrshin Basu and I am a faculty in
0:13 the finance and accounting area at IM
0:16 Bangalore. This course is designed to
0:18 kind of give all of y'all an
0:20 introduction into the world of
0:23 insurance. What is insurance? How does
0:25 insurance operate? What does it mean to
0:28 be an insurance policy holder? an
0:30 insurance company, a reinssurer and the
0:34 likes of it. What are the processes that
0:37 run the operational dynamics that kind
0:40 of get the insurance industry running?
0:42 What is this industry in terms of value?
0:45 How large is the industry? What does it
0:47 take? Who are the main players? You
0:49 know, what kind of customers do you
0:52 have? How does different countries
0:54 seemingly appear to be different because
0:57 of their insurance coverage? uh is there
0:58 a divide between the developed and the
1:01 developing or the emerging countries
1:03 and the likes of that and then finally
1:04 going on to a little bit of the
1:06 products. What is a life insurance
1:08 product? What is the non-life product?
1:10 Uh or what are the non-life products?
1:12 What's reinsurance? How do you look at
1:14 what are the factors that you look at to
1:17 pricing it to essentially finally the
1:19 insurance for the insurers which is reinsurance.
1:20 reinsurance.
1:23 So over the next you know few modules
1:25 the idea is to take you through an
1:28 overview and through this this large
1:30 gamut of things which together comprise
1:32 of the insurance sector the insurance
1:35 industry and with all its stakeholders
1:37 in place. So that's what this course is
1:39 supposed to kind of take you and help
1:41 you understand and at the end of this
1:42 course you will therefore have a better
1:45 understanding of insurance both as a
1:48 product as a sector and as the
1:50 operations and as the details of what
1:52 goes into insurance and risk mitigation
1:55 techniques. So without further ado let's
1:57 get along to starting with it and let me
2:00 start off by talking to you about or
2:02 introducing insurance to all of you in
2:04 some sense. [Music]
