Index

Serial No Contents Page.

no
Introduction to Insurance in India
1. 1

Brief history of the Insurance

2. 2
sector

3. Introduction to Life 4
Insurance

4. Claims in Insurance 6

5. Claims management 8
o System of Claims Management

Life Insurance Corporation of India

6. 12
o Organizational Structure of LIC
o Basic structure of LIC
 Guidelines for claims settlement by IRDA
7. 21
o Procedure for settlement of claims
o Important terms in claims
o Factors affecting the claims settlement

8. 37
Delays in claims settlement

9. 40
Role of agents in claims settlement

10. 41
Role of agents in an Insurance company

11. 42
Role of surveyors and assessor in claims settlement

12. 47
Frauds in claims settlement

13. 50
Comparative analysis
14. Case Study 51

15. Conclusion 52

16. Bibliography/Webliography 53
 METHODOLOGY
This project is prepared with the combination of theoretical knowledge as
well as practical knowledge and a blend of advices and suggestions from
the Research Guide of the project .Various books helped me out in
extracting the theoretical ingredient.

For doing anything rightly , it is necessary that one follows the correct
method otherwise he won’t be able to achieve his goal properly. Hence how
you do things is very important, that have you done things? How fast have
you done things? While making this project it was important to give due
importance to the method of collecting the data for achieving the goal.

This project is a research – based project and the information presented in

the project is collected with the help of primary and secondary data.
 Objective
The Objective behind the preparation of the project on

“Claims management in life insurance” is

 To understand the Concept of Claims Management in Life Insurance.

 To acquire knowledge of what are the sources and different kind of

claims associated with Life Insurance and various problems associated
with it.

 To understand the various challenges faced by Life Insurance

Corporation and opportunities to grow in the dynamic environment.