+1-817-968-5551
+61-488-839-671
+44-7480-542904About Expert
Key Topics
Requirement
PURE INSURANCE PERCEPTION ABOUT UAE MARKET FROM THE DATA COLLECTED FROM THE INS. AUTHORITY- 2011 TO 2014
Solution
The insurance authority provides the data collected specially about UAE market related to personal insurance, health insurance and commodity. The insurance industry is increasing very fast because of the high competition between the insurance companies as they are achieving profitability as a challenge. Every year, several numbers of insurers or insurance companies are rising very fast, especially in UAE as there are minimum 29 listed insurers. Which is increasing 10 percent annually from which 60 percent of the share is captured by the motor and the medical insurance. On the other hand life insurance also plays an important part, Now they have made it compulsory, especially for the health insurance for all the people which is the highest key driver for the industry. The insurance industry is a major sector in the world economy in 2013. The total amount of insurance premium was about US $ 4.65 trillion, which is equal to 7 percent of the global GDP. In life and pension insurance more specific measurement applies in the area of pension for example- the most common method used for measuring is the replacement rate. Which tells that what is the person pre-retirement income.
Allassignmenthelp.com is the number one website which had helped many students by providing accounting assignment help at an affordable price. We offer different writing services like accounting dissertation help and management accounting assignment help. So, still, what are you waiting for? Place your order on our website immediately and solve all your assignment tensions and worries.
On the other hand under insurance can be defined as the gap between the amount of insurance that is economically beneficial and the amount of insurance actually purchase. In non- life insurance this phenomenon can be measured by an insurance coverage ratio. (Majid Al Futtiam, 2014)
Insurer’s or the insurance companies need to remove complexity if they want to increase the insurance business and reduce the insurance gap. The complexity of the insurance can be viewed as a risk to the overall industry. Many of the businesses are not covering their losses because they are missing the benefits of insurance from an insurance company. This is not the issue of the loss, but to take the right cover for their risk. The availability of the insurance depends upon the ability for insurance companies to set the premium amount which can be compensated with any individual or corporate risk it, also helps the country as well as the insurance market that all have received compulsory insurance scheme like health insurance scheme is mandatory for all the private sector employees. Collecting data will help the insurance companies to take the decision on the expansion of insurance covers wherever needed, It also helps the company to take the decision whether to provide a cover for that insurance or not. Collection of data helps them to provide them the quality data and more transparency in the business. It also helps the insurance companies to check whether an insured or the policy holder is getting the new insurance without any earlier claim or fraud. With the help of insurance it also helps to reduce the cost of treatments and operates and providing quality treatment to the insured, especially in accident and health insurances, Insurance provides more protection for the risk and provides more reliability. (Insurance Authority (IA))
Place Order For A Top Grade Assignment Now
We have some amazing discount offers running for the students
Place Your OrderBibliography
-
Insurance Authority (IA). (n.d.). Report on The Insurance Sector in UAE. Retrieved from http://www.ia.gov.ae/en/news/pages/report2013.aspx
-
Majid Al Futtiam. (2014, September). The Report: UAE: Dubai 2014. (Oxford Business Group) Retrieved from http://www.oxfordbusinessgroup.com/: http://www.oxfordbusinessgroup.com/uae-dubai-2014/insurance
Give your grades a boost
Just share your requirements and get customized solutions on time.
-
1,168,768 Orders
-
4.9/5 Overall Rating
-
5,052 Experts
