Ra Insurance Company

Negative publicity of the company and loss of credibility in the eyes of existing and potential customers impacting overall business

The questions aim to understand risk management practices in the insurance sector. They are split into 3 sections: risk management culture, risk control and emerging risks management, in order to explore the enterprise risk management practices through examining the components.

business of insurance. But the lack of uniformity, loop holes, blind spots and deficiencies within

Most customers have been compensated by RBS; however I believe RBS’s trust bond with their customers has already been damaged. This influences customer’s behaviour before they buy and insurance products or additional insurance products as they will think twice before

The company chosen for this case paper is Aflac, Inc. They are a life and health insurance company that markets supplemental insurance for individuals. Company insurance policies include cancer insurance, hospital intensive care, home healthcare, accident, and disability insurance. Products are marketed mainly at the worksite on a payroll-deduction basis. The company has a dominant position in cancer insurance in Japan and a growing insurance business in the US. – Merrill-Lynch Company Summary

The marketing strategy had some fundamental flaws in areas such as targeting, pricing and adapting to the various social and cultural landscapes as stated below;

In order for a company to establish the correct balance between their risk-retention and risk-transfer they must first complete a risk-retention analysis. This analysis allows an organization to establish their maximum level of risk retention. This is accomplished through a combination of the traditional analysis of principles based on investment and decision, along with pricing according to the insurance industry. The results of this analysis show the cost-effectiveness and trade-off of savings on premiums versus the increased risk of a higher retention level. Now that the company has successfully established the basic parameters of being self-insured ,with assistance from their actuary, "an individual that specializes in the measurement and management of risk"(www.soa.org) and their commercial insurance broker; the most cost-effective type of risk retention must be established. Commercial insurance companies often dictate clients that are self-insured as to what type of risk-retention the company will assume. This occurs because once the self-insured clients maximum limits have been reached it is at this point the commercial insurance company assumes responsibility for any remaining amount of a claim. There are several types of strategies of risk-retention that companies can assume when self-insured that fall within the established boundaries of the commercial insurance market. Each self-insured company has its own unique risk-retention capacity specific to their

The first of these scenarios, related to the practice of Z Insurance Corp to take advantage of senior citizens stirs a deep resentment within me for the organization. As someone who strongly believes that a career in personal financial service, like that which Z Insurance Corp purports to provide, is as much about the maintenance of personal dignity as it is about wise management of dollars and cents, I object strongly to the company's practices. Quite simply, Z Insurance Corp is preying on the fears and concerns of senior citizens related to money and security and is training new employees to perpetuate a culture of deception and dishonesty. In so doing, the company is violating the dignity of its senior citizen customers,

With any company, you need strong vision and mission statements to help consumers better understand your business and where you intend on being in the future. After reading the case, I found many issues that management must address in order to

For instance, the executives might have had little or no market research information on the markets that were targeted for entry. The lack of adequate market research made it difficult for the company to have enough information on its opportunities with regards to the market entry . Furthermore, there might have been a cognitive bias or a systematic error in manner through which the executives processed information that they had at their disposal. Also, the business might have incurred miscalculation costs. These are the aspects that the business will need to focus on during the new project. When conducting a market entry, appropriate calculations will be necessary for the successful implementation of all the steps to avoid under calculations and cost challenges along the way. With the right approach, the company will have the ability to re-establish itself into the market and become successful . The research and strategic approach is most likely to work in favor of the

With any industry, there are many challenges within a company and some that are unbearable, but workable to achieve. Many companies, if not all want to be able to bring in the most revenues, profit, ROE, and have an image rating that will portray consumers to keep coming back and purchasing their products, their products are also reflected in the stock market and how the company is doing financially. If a company cannot distribute within their goals and objectives on customer demands, the company may be at the

Risk managers are a vital lifeline in the healthcare organization. If this organization had an active risk manager in place, many of the events leading up to the infant losing its life could have been prevented. There are many steps that a risk manager must take once a risk is identified, this paper will walk through the steps that are required after the risk happened.

A paper accepted for presentation at the 9th Oxford Business & Economics Conference to be held in Oxford, England, June 22-24.

Due to the gaps in different types of insurance coverage’s, it has become increasingly more difficult to decide which insurance best fits your business needs. The Producer explained how an evaluation of a company 's business service, and sometimes contractual requirements, will determine the type of insurance needed to protect their business. The types of insurance that was discussed during the time spent with the Producer is important to a business during a financial loss. There are many different policy coverage forms.

Due to the gaps in different types of insurance coverage’s, it has become increasingly more difficult to decide which insurance best fits your business needs. The Producer explained how an evaluation of a company 's business service, and sometimes contractual requirements, will determine the type of insurance needed to protect their business. The types of insurance that was discussed during the time spent with the Producer is important to a business during a financial loss. There are many different policy coverage forms.