The Power Is Yours

The Power Is YOURS

Definition ECONOMICS is the study of how societies

use scarce resources to produce valuable commodities and distribute them among different people. MANAGERIAL ECONOMICS is a branch of

economics that applies microeconomic analysis to decision methods of businesses or other management units. As such, it bridges economic theory and economics in practice.

Macroeconomics Macroeconomics is the study of the aggregate economy.  National Income Analysis  Unemployment  Inflation  Fiscal and Monetary policy  Trade and Financial relationships among nations

Microeconomics Microeconomics is the study of individual consumers and producers in specific markets.  Supply and demand  Pricing of output  Production processes  Cost structure  Distribution of income and output

Learning Insurance What Is Insurance

Insurance is concerned with protection of economic value of assets. Tangible assets are human beings, house, furniture, motor cycle etc. Intangible assets are liabilities.

History of Insurance LIC of India formed in 1956 after nationalization

of life insurance In India first policy issued in 1870 Life Insurance Premium from Rs.400 crores in

1956 to Rs.156042 crores in 2007-08 with 47 % growth General Insurance Premium from Rs.200 crores

in 1972 to Rs.24905 crores in 2007-08with 22 % growth

Fundamental Principles of Insurance 1.Insurable interest- Means financial interest 2.Utmost good faith- Greater duties of faith on proposer & insurer 3.Indemnity- Actual compensation of loss, not applicable in life policies 4.Subrogation-Transfer of rights of insured to insurer. Not applicable in life policies. 5.Contribution-Sharing of loss by all insurers. Not applicable in life policies.

HE-MAN Health care objectives… From Micro 2 Macro

 START WITH HEALTH MICRO-INSURANCE AS A STAND-ALONE PRODUCT 

THE PRESSING NEED OF THE DAY

 ADDRESS THE SPECIFIC PROTECTION NEEDS OF ORGANIZED GROUPS 

COMPREHENSIVE MECHANISMS…

ADAPTED BENEFIT

PACKAGE

–

EASY PAYMENT

 SET UP A NETWORK OF HEALTH PROVIDERS (PRIVATE/PUBLIC) 

CONCESSIONAL TARIFFS AND INTERVENTION REGULATIONS…

 ORGANIZE ACCREDITATION/ MANAGEMENT/MONITORING SYSTEMS 

ENSURE THE PROVISION OF QUALITY SERVICES…

 ENSURE SUSTAINABLE FINANCIAL SUPPORT 

LONG-TERM PUBLIC/PRIVATE FINANCIAL SUPPORT…

PARTNERSHIP

ARRANGEMENTS

AND

Health Insurance Mediclaim policy Overseas mediclaim policy Videsh yatra mitra policy Corporate frequent travellers policy Employment & study policy Group mediclaim policy Cancer policy

HE-MAN Protection Power for the Kisaan (Farmers)… Kisaan Suraksha Yojna Cattle policy Poultry policy Agricultural pump set policy Crop insurance

The Questions we will face while launching the company What: The product decision – begin or stop

providing product (policies) and/or services.

How: The hiring, staffing, procurement, and

capital budgeting decisions.

For whom: The market segmentation decision

– targeting purchase.

the

customers

most

likely

to

Role of Managerial Economics in Decision Making Managerial Decisions

Economic concepts • Theory of consumer behaviour

Decision making tools •Numerical analysis •Statistical analysis

• Theory of firm • Theory of market structures and pricing

•Forecasting

Managerial Economics Use of economics concepts and decision making tools to solve managerial decision problems

HEALTH INSURANCE: CURRENT COVERAGE N0 OF BENEFICIARY EMPLOYEE S‘ STATE INSURANCE CORPORATION

31,000,000

MEDICLAIM

9,000,000

WELFARE FUNDS

7,000,000

UNIVERSAL HEALTH INSURANCE SCH. MICRO-INSURANCE SCHEMES

80,000 7,500,000

TOTAL INFORMAL ECONOMY

23,580,000

GRAND-TOTAL

54,580,000

% OF POPULATION

5.1 %

Statistical Analysis

Economic Forecasting and The Firm Economic forecasts can be made regarding a

great variety of Economic Variables – On a macroeconomic level (GNP, consumption, etc. ) and on a microeconomic level (sales of firms, competitors, etc.) Factors affecting 1. Trend Factors –

these Economic Reflect long variable: term movements in economic variables

2. Seasonal Factors

Relating to specific season of the year

3. Cyclical Factors

Relating to fluctuations in the general level of economic level

4. Other Factors

Relating to changes in consumer tastes not specifically related to passage of time

Economic Concept Theory of Consumer Behavior –

One of the key analyses under the heading "consumer behaviour" refers to the interaction between price changes and consumer demand.  Theory of Market Structure and Pricing

The Theory of the Firm

CONCLUSION We at He-Man feel, that what India must devise

today is a model that builds on the developed nations’ healthcare models, while retaining a strong indigenous component to suit its unique needs He-Man foresees that health insurance industry

is poised for serious growth in India Along with the right policy and right decisions,

our company looks to launch itself and establish itself as a major player in this sector in India

THANK YOU