MMPF 011 Solved Assignment 2023-24


MMPF 011 Solved Assignment 2023-24

Management of Insurance Services

MMPF 011 Solved Assignment 2023-24 : All assignments are in PDF format which would be send on email/WhatsApp (9958676204) just after payment.

Assignment Code: ASST/ MMPF 011/2023-24

Marks: 100

Attempt all the questions.

Q1. Describe the role of different insurance intermediaries and distribution channels for marketing insurance products in India.

In India, the marketing of insurance products involves various intermediaries and distribution channels that play distinct roles in connecting insurers with customers. These intermediaries facilitate the sale of insurance policies, provide information, and assist in the overall process. Here are some key players in the insurance market in India:

Insurance Agents:

Role: Insurance agents are individuals or entities who act as intermediaries between insurers and policyholders. They sell insurance products on behalf of one or more insurance companies.

Function: Agents play a crucial role in advising customers on suitable insurance products based on their needs. They earn commissions on the policies they sell.

Insurance Brokers:

Role: Insurance brokers are independent professionals or firms that work on behalf of the policyholder. Unlike agents, brokers do not represent a specific insurance company but rather serve the interests of the client.

Function: Brokers assess the insurance needs of clients, analyze the market, and negotiate with insurers to obtain the best coverage at the most competitive rates. They earn commissions or fees for their services.

Corporate Agents:

Role: Corporate agents are business entities that are authorized by one or more insurance companies to sell their products.

Function: These agents often have a wide reach and can leverage existing business relationships to distribute insurance products. They may include banks, financial institutions, and other corporate entities.


Role: Bancassurance refers to the distribution of insurance products through banks. Banks act as intermediaries, offering insurance policies alongside their banking products.

Function: Bancassurance allows insurers to tap into the extensive customer base of banks, while banks can enhance their product offerings and generate additional revenue through commissions on insurance sales.

Direct Marketing Channels:

Role: Direct marketing channels involve insurers selling their products directly to customers without intermediaries.

Function: Insurers may use online platforms, mobile apps, or direct sales teams to reach customers. This approach can reduce distribution costs and allows insurers to have a more direct relationship with policyholders.

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Role: Online aggregators are digital platforms that compare and provide information on various insurance products from different companies.

Function: Consumers can use these platforms to compare premiums, features, and benefits of different policies, facilitating an informed decision-making process.

Microinsurance Agents:

Role: With a focus on providing insurance to economically vulnerable populations, microinsurance agents target low-income individuals and communities.

Function: These agents often work in collaboration with microfinance institutions and other community organizations to make insurance products more accessible to underserved segments of the population.

In summary, the insurance landscape in India involves a diverse set of intermediaries and distribution channels, each serving specific roles in reaching and servicing the varied needs of consumers. This multi-channel approach allows insurers to cater to a broad customer base with different preferences and requirements.

Q2. Visit the website of any Insurance Company and study the Group Insurance Schemes / products being offered by the company. Prepare a report on the important features of any one scheme in detail.

Q3. Discuss the assumptions on which valuation of benefits is based while pricing of Life Insurance Products.

Q4. Take the Annual Report of any Insurance Company and trace the CSR activities of that company. Give a report on the CSR activities and their significant contributions.

Q5. Discuss any two health insurance products which according to you have come up with innovative solutions for financing the health needs.

MMPF 011 Solved Assignment 2023-24 : All assignments are in PDF format which would be send on email/WhatsApp (9958676204) just after payment.

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