DFIN404 INSURANCE AND RISK MANAGEMENT JAN FEB 2026

Description

SESSION	JAN – FEB 2026
PROGRAM	MASTER OF BUSINESS ADMINISTRATION (MBA)
SEMESTER	IV
COURSE CODE & NAME	DFIN404 INSURANCE AND RISK MANAGEMENT

 

Assignment Set – 1

 

Q.1. Explain the term risk and its interpretation in Insurance domain. Mention and explain the different types of Business and Personal Risk. (10 Marks)

Ans 1.

It is the chance or chance that a certain event will occur that causes harm to, damage, or loss to a person, property, business, or financial position. In the insurance domain it is understood as the risk of losing which is the chance that a future event will result in financial losses that the insurer agrees to cover in exchange for a premium.

Interpretation of Risk in Insurance

The term “risk” in the insurance industry comes with a number of distinct characteristics. It

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JAN-FEB 2026

 

Q.2. ‘Financial reporting refers to standard practices to give stakeholders the exact position of a company’s finances’. Explain the sentence with mentioning the importance of financial reporting in managing Insurance Operations. (10 Marks)

Ans 2.

Financial reporting in the insurance business is the process of preparing and releasing of financial data that clearly represents the financial position, performance, and liquidity of insurers for shareholders, policyholders and regulators as well as creditors and investors. The financial reports of insurance firms are particularly crucial because insurance companies manage public cash in the form insurance premiums and are responsible for the payment of future claims,

 

Q.3. List and describe different types of riders for Life Insurance policies and illustrate the role of riders in Life Insurance policies. (10 Marks)

Ans 3.

Riders provide additional benefits to the basic life insurance policy for extra cost. They can increase the insurance coverage offered by the base plan without the need to purchase an additional policy. They permit policy holders to modify their insurance coverage according to their specific risk profile and financial needs at relatively low incremental cost.

Term Rider

A term rider provides additional insurance for life over a specific period at a lower premium than

 

Assignment Set – 2

 

Q.4. Write and explain the Product development process in detail in Insurance. Also list the IRDA guideline principles for product development and design. (10 Marks)

Ans 4.

Development of products for insurance is the process that has been structured through the process of conceptualizing, designs, prices or tests new products in insurance or alters existing ones to address market needs. Because of the lengthy contractual obligations and oversight by regulators in the process, development of products for insurance is more complex and governed than product development in most other sectors.

Stages of the Insurance Product Development Process

The process begins by conducting market research and needs definition, during which the

 

Q.5. What is Insurance Underwriting? Mention the types of Insurance Underwriting as well as the need and functions that underwriting plays in Insurance domain. (10 Marks)

Ans 5.

Insurance underwriting is the process that an insurance company evaluates an application’s risk, makes a decision, and determines which of its options to either accept or deny an insurance application, and on what price and in what conditions to offer coverage. This is the foundation of a sound insurance operation because the quality of underwriting directly impacts the financial performance of an insurance company as well as its solvency and capacity for fulfilling its

 

Q.6. Describe Reinsurance in Insurance sector in light of key elements of Reinsurance along with its elements and Benefits. (10 Marks)

Ans 6.

Reinsurance is an arrangement in which a contract through which an insurance company (the ceding insurer, or the cedant) is able to transfer a certain portion of their risk portfolio to an insurance company (the reinsurer) to exchange an amount of the cost. This is basically insurance for insurance companies, enabling them to write larger risks, stabilise their financial position, and protect their capital against catastrophic or massive claims unexpectedly.

Key Elements of Reinsurance

The cedant, or insurance company that transfers the risk. The reinsurer is the company which