IT & INSURANCE

B LEELA DHARMDHM (OU) 2014-16; AIHAROLL NO 1404-01-676031(INDIA)94904-68518; BOBBALEELADHAR@HOTMAIL.COM

INTRO

QUESTION 1IS IT REQUIRED IN INSURANCE

SECTOR ?

ANSWER 1YES

PREVIEWINTRO.

INSURANCE SECTOR COMPONENTS – A BRIEF.

IT COMPETENCE TO COMPLIMENT INSURANCE SECTOR.

Q & A SESSION.

CONCLUSION.

INSURANCE

SECTOR

COMPONENTS

A BRIEF

INSURANCE SECTOR COMPONENTS

CUSTOMERS DISTRIBUTORS

INSURANCE SECTOR COMPONENTSSERVICE PARTNERS BUSINESS FUNCTIONS

INSURANCE SECTOR COMPONENTSINSURANCE OPNL FUNCTIONS MISC ISSUES

SOCIAL MEDIA.

MOBILE COMMUNICATION.

TECHNOLOGY BASED LIVING AND LIFE STYLES.

IT COMPETENCE

TO

COMPLIMENT INSURANCE SECTOR

FOOD FOR THOUGHTCAN ALL OF THEM BE HANDLED

WITH PERFECTION “MANUALLY”

ANSWER

No….no………NO ……

NO….. NO ……

IT COMPETENCE - COMPLIMENTING INSURANCE

SECTOR

IT COMPETENCE - COMPLIMENTING INSURANCE

SECTOR

IT COMPETENCE - COMPLIMENTING INSURANCE

SECTOR

IT COMPETENCE - COMPLIMENTING INSURANCE

SECTOR

ADVANTAGES OF IT IN INSURANCE SECTOR

A LOOK AT OUR

OWN FAMOUS LIC

PORTAL

THINK FROM INSURANCE

COMPANY’S

PERSPECTIVE

CONVERSION FROM TRADITIONAL

TRADING/BUSINESS TO AUTOMATED

AND DIGITISED VERSIONS

MYTHS, FEARS, NEEDS &

PREPARATIONS

CONVERSION FROM TRADITIONAL TRADING/BUSINESS TO AUTOMATED AND DIGITISED VERSIONS

MYTHS & FEARS

AGENCY SYSTEM BEING TOTALLY REPLACED.

CUSTOMERS STILL NEED AN AGENT AS BACK UP.

DIGITAL NETWORK CANNOT REPLACE A HUMAN.

CUSTOMER IS MORE KNOWLEDGABLE NOW.

CONVERSION FROM TRADITIONAL TRADING/BUSINESS TO AUTOMATED AND DIGITISED VERSIONS

NEEDS & PREPARATIONS

EVEN IF SWITCH TO ‘IT’ BASED

FUNCTIONING IS DESIRED LOT OF

INVESTMENT IS REQUIRED AT COMPANY

END AND CUSTOMER END.

CONVERSION FROM TRADITIONAL TRADING/BUSINESS TO AUTOMATED AND DIGITISED VERSIONS

NEEDS & PREPARATIONS

CONVERSION FROM TRADITIONAL TRADING/BUSINESS TO AUTOMATED AND DIGITISED VERSIONS

NEEDS & PREPARATIONSERP IS REQD TO INTEGRATE RMIS, CMIS & IIS.

COST FOR ABOVE ISSUES – FREEBIES TO CRORES.

BUY FROM ASP (APPLICATION SERVICE PROVIDERS)

ASP HAS ITS OWN COMPLICATIONS.

SECURITY

FINANCIAL IMPLICATIONS

THIRD PARTY HANDLING

TRAINING

ADVANTAGES OF IT IN INSURANCE SECTOR

ADD – ON

OR

AIM PLUS INFO

INCOME TAX BENEFITS

DUE TO

INSURANCE POLICIES

Particulars

Existing Provisions for FY

2014-15ORAY 2015-16

Changes as per Budget for FY 2015-

16 ORAY 2016-17

Section 80D - Deduction for Health  Insurance premium

Rs. 15,000/- Rs. 25,000/-

Section 80D - Deduction for Health  Insurance premium for Senior Citizens

Rs. 20,000/- Rs. 30,000/-

Section 80DDB - Deduction in case of very senior citizens on expenditure on account of specified diseases

Rs. 60,000/- Rs. 80,000/-

Section 80DD - Maintenance, including medical treatment of a dependent who is a person with disability

Rs. 50,000/- Rs. 75,000/-

Section 80DD - Maintenance, including medical treatment of a dependent who is a person with severe disability

Rs. 1,00,000/- Rs. 1,25,000/-

Section 80U - Person with disability Rs. 50,000/- Rs. 75,000/-Section 80U - Person with severe disability Rs. 1,00,000/- Rs. 1,25,000/-

Section 80D - Deduction for Health  Insurance premium

Rs. 25,000/-

Section 80D - Deduction for Health  Insurance premium for Senior Citizens

Rs. 30,000/-

Section 80DDB - Deduction in case of very senior citizens on expenditure on account of specified diseases

Rs. 80,000/-

Section 80DD - Maintenance, including medical treatment of a dependent who is a person with disability

Rs. 75,000/-

Section 80DD - Maintenance, including medical treatment of a dependent who is a person with severe disability

Rs. 1,25,000/-

Section 80U - Person with disability Rs. 75,000/-Section 80U - Person with severe disability Rs. 1,25,000/-

DISABILITY

THE PERSONS WITH DISABILITIES (EQUAL OPPORTUNITIES, PROTECTION OF RIGHTS AND FULL PARTICIPATION) ACT, 1995

DISABILITY

"DISABILITY" MEANSVISUAL IMPAIRMENT

BLINDNESSLOW VISION

LEPROSY-CUREDSPEECH & HEARING

DISABILITYLOCO MOTOR/ ORTHO-PAEDIC

DISABILITYMENTAL RETARDATIONMENTAL ILLNESS.MULTIPLE DIABILITIES

DISABILIT Y-GUAGING METHODOLOGY

INDIAN DISABILITY EVALUATION AND ASSESSMENT SCALE (IDEAS) IS A SCALE FOR MEASURING AND QUANTIFYING DISABILITY IN MENTAL DISORDERS.

DISABILITY – CERT ISSUING AUTHORITY

Ministry  of  Social  Justice  and  Empowerment  -amended  the Persons with Disabilities Rules, 1996 in  December  2009  &  simplifIed  the  process  of issuing disability certificates. A doctor can now assess and issue the certificate 

even at PHC  in  case of  visible  disabilities  such as amputations, complete paralysis, and blindness. A specialist doctor can do so in other cases. For  multiple  disabilities  however  more  than  one 

specialist will be necessary.

DISABILITY – CERT ISSUING AUTHORITY

CERTIFICATION OF MENTAL ILLNESS DISABILITY FOR THE PURPOSES OF THE ACT - BY A MEDICAL BOARD:-

THE MEDICAL SUPERINTENDENT/ PRINCIPAL/ DIRECTOR / HEAD OF THE CHAIRPERSON INSTITUTION OR HIS NOMINEE

PSYCHIATRIST MEMBERPHYSICIAN MEMBERAT LEAST TWO OF THE MEMBERS, INCLUDING

CHAIRPERSON OF THE BOARD MUST BE PRESENT AND SIGN THE DISABILITY CERTIFICATE.

THE STATE GOVERNMENTS ARE TO CONSTITUTE MEDICAL BOARDS IN CONCONANCE WITH THE CENTRAL ORDER.

Q & A

SESSION

CONCLUSION