BFSI Domain

BFSI Domain

BFSI Industry – Domain Knowledge

Looking for knowledge and key business information on the BFSI industry?

TechnoFunc brings to you BFSI industry overview, business model, value chain, competitive landscape, and latest trends. The Term BFSI is an acronym for Banking, Financial Services and Insurance and popular as an industry term for companies that provide a range of such products/services and is commonly used by IT/ITES/BPO companies and technical/professional services firms that manage data processing, application testing and software development activities in this domain. Banking may include core banking, retail, private, corporate, investment, cards and the like. Financial Services may include stock-broking, payment gateways, mutual funds etc. Insurance covers both life and non-life.

Learn the various dynamics and challenges in the domain knowledge for BFSI Industry. Quickly enhance your business acumen and talk like an expert and impress your stakeholders in your next meeting! 

What is Life & Health Insurance Industry?

What is Life & Health Insurance Industry?

Insurers in this industry directly underwrite insurance policies relating to life, health, accident, and medical risks. Life and annuity insurance covers not only life and annuities but also health and disability. Read more about the health and life insurance industry. Life and health insurers generate revenue not only through the specific activity of insurance underwriting but also by investing premiums.

What is General Insurance Industry?

What is General Insurance Industry?

 

General Insurance industry providers perform an essential function in today's economy. General insurance is typically defined as any insurance that is not determined to be life insurance. Depending on the type of occupation, risk exposure, and the money involved, the insurance could be different for each industry or business. In underwriting insurance policies, general insurers earn premiums that they further invest.

What is Reinsurance Industry?

What is Reinsurance Industry?

A primary insurer purchases reinsurance to limit its exposure, usually to one specific type of risk, thereby diversifying its book of risk. Businesses in this industry focus on assuming all or part of the risk associated with existing insurance policies originally underwritten by direct insurance carriers. In other words, the primary activity of this industry is insuring insurance companies. Reinsurance occurs when multiple insurance companies share risk by purchasing insurance policies from other insurers.

The Business Model of Insurance Industry

The Business Model of Insurance Industry

The insurance industry business model can be further categorized into two types of main activities, service domain, and support domain. Service domain activities make up the company's value chain and the support domain provides the infrastructure and support to sustain the value chain. Support activities may include corporate services, finance, human resources, or information systems, and technology. 

Principles of Insurance

Principles of Insurance

This article helps the student to understand the legal principles and provisions of the insurance law. Starting with the fundamentals from which law is derived, this article helps the student to understand the salient aspects of any insurance contract, the rights and obligations of parties to the contract, and the legal environment within which insurance practice is carried out. Explore the seven most important principles of insurance.

Parties in the Contract of Insurance

Parties in the Contract of Insurance

There are two parties in the contract of Insurance. Understand these parties and their definition in the contract of insurance. Learners will learn about the key stakeholders in the insurance business along with a classification of internal and external stakeholders.

Financial Assets

Financial Assets

A financial asset is a financial claim, an intangible asset that derives value because of a contractual claim. Learn about financial assets and the role the banking industry plays in the financial assets market. Learn about various types of financial assets and their importance in terms of the banking industry.

Financial Institutions

Financial Institutions

Learn what we mean by financial institutions and financial intermediaries. Learn the two main classifications of financial institutions and understand the significant distinction between depository and non-depository financial institutions. Learn how the financial system works and understand the concept of financial markets.

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