The purpose of doing this paper is to let us understand insurance in a better way, which is practically. We include the company profile in the first section we also try to define the terms life insurance, property insurance and liability insurance. As we have been asked to do, we tried to assess the insurance system of the lion insurance share co. We try to assess lion insurance performance particularly in the area of * If it gives life protection
* The type of property insurance
* The type of liability insurance
* the underwriting process
* the special type of insurance protection it gives
Finally, we try to give a very brief recommendation from what we observe and saw.
Doing this paper help us a lot because it let us understand the insurance system in a very better way. We gather information from interviewing and we found the company profile from their broacher used to advertise their company we also use internet for general understanding about insurance. We did not face any limitation because we get a very great support from lion insurance share co. from the secretary to general manager. We appreciate their way of treating every customer including us who wanted help from them.
Lion insurance company was established by over 300 prominent business people and compatriots on June 2007. it was established with a paid –up capital of over birr 16 million and subscribed capital of over birr 66 million, lion insurance company sc has strong financial capacity from the outset. Objective
* Undertake and carry general insurance activities ,life insurance, retirement insurance, medical insurance, personal accident insurance and re insurance * Enter in to co –insurance and re-insurance contracts on the business the company transacts * Engage in other activities included to the companies objectives Logo
* It depicts an inner commitment to be strong and dependable like lion Vision
* To become the first choice insurance company of customers in sub-Saharan Africa Mission
* To excel in performance to the satisfaction of all stakeholders in providing comprehensive insurance covers and venturing to engage in diversified investments by employing competent expertise and applying up-to-date technologies. Values
* Passion for customers- To internalize that customer is the reason for our existence where we pursue to meet their utmost satisfaction. * Professionalism- To set high quality performance standards and embody convenience in the way they do and deliver our products and services. * Empowerment- To give latitudes for employees to release their latent potential and initiate them to be self starters in addressing company concerns. * Integrity- to prevail transparency and ethical behavior and company level * Cooperation and partnership- To work together with competitors and other stakeholders to promote the progress of the industry and attain mutual benefits. * Social responsibilities- to pay due respect to social values and contribute to welfare programs. Re –insurance
* The company is reinsures by the world wide re-insurers
Services it provide
* Property insurance
* Motor insurance
* Marine insurance
* Engineering insurance
* Bond insurance
* Liability insurance
* Pecunairy insurance.
Assessment of lion insurance share co service
Human life is subject to risks of death and disability due to natural and accidental causes. When human life is lost or a person is disabled permanently or temporarily, there is a loss of income to the household. The family is put to hardship. Sometimes, survival itself is at stake for the dependants. Risks are unpredictable. Death/disability may occur when one least expects it. An individual can protect himself or herself against such contingencies through life insurance. Life insurance is insurance on human beings. Though Human life cannot be valued,...
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