Romeo and Juliet, by William Shakespeare Essay - 977 Words

The wise woman, Margaret Mead, who was a distinguished anthropologist, once said, â€Å"Never doubt that a small group of thoughtful, committed citizens can change the world. Indeed it’s the only thing that ever has.† A group of citizens in Verona sought to change the world of two star-crossed lovers. In spite of trying to improve their situation, Friar Laurence, Balthasar, Paris, Benvolio and Mercutio only lead Romeo and Juliet into tragedy. These characters always think they are helping, but they end up leading Romeo and Juliet to their deaths. Friar Laurence, Balthasar, Paris, Benvolio and Mercutio all played a trusted role either as a friend, lover or religious leader in Romeo’s and Juliet’s lives. However, despite their best intentions†¦show more content†¦Friar Laurence had the greatest influence on Romeo and Juliet. The day after they met, the Friar married the couple, without parental consent. In this time period, parental consent was ex pected; the groom must ask the bride’s father’s permission. The Friar hopes to end the feud between the Capulets and Montagues by ignoring this rule and marrying the couple anyway. His plan of marriage fails at ending the feud and forces the Friar to devise more sneaky plans to hide his mistake. The issue is further complicated when Juliet is to be married to Paris promptly. The Friar’s very complex plan ensured that Juliet could not be married to Paris and that she could be together with Romeo. Juliet is the take a sleeping potion that makes her appear dead for fourty-two house/ The most important part of the plan is that Romeo, who is in Mantua, be informed to go to the tomb as Juliet wakes up. Friar Laurence doesn’t contact Romeo himself, so therefore the plan didn’t work. The Friar always intended to end the feud, but everything he did created a larger problem. The Friar’s good intentions lead to tragic results. Fate plays a major rol e because no matter how hard the Friar tried to make things better, they were destined to end poorly. At the end of the play the Friar realizes that the tragedy appears to be his fault, â€Å"I am the greatest, able to do the least, / Yet most suspected, as the time and place† (Rom. 5.3.223-224).Show MoreRelatedRomeo and Juliet by William Shakespeare619 Words   |  3 PagesRomeo and Juliet by William Shakespeare is a play written in the 16th century that’s about a tragic love story between two teenagers who come from rival families, yet fate brings them together and despite the grudge that each family holds for the other; they fall in love. Throughout the story they hide their love from other people especially their families and marry and when Romeo is banished for murder they conceive a plan to run off together. From this story, we learn how two teenagers deceiveRead MoreRomeo and Juliet by William Shakespeare818 Words   |  3 PagesThroughout history, Shakespeare has been given credit for the popularizing of tragedies, causing a tragic hero to be seen as a reputable character. In Shakespeare’s story â€Å"Romeo and Juliet,† two ill-fated lovers are caught between the bitter hatred of their two families. Knowing their parents would never approve, Romeo and Juliet struggle to keep their love a secret. Though the story ends in what most people would view as a tragedy, Romeo fails to meet the characteristics of a tragic hero establishedRead MoreRomeo And Juliet by William Shakespeare967 Words   |  4 PagesRomeo And Juliet by William Shakespeare In Romeo and Juliet the beauty and ardour of young love is seen by Shakespeare as the irradiating glory of sunlight and starlight in a dark work. Discuss the techniques that Shakespeare would have used to capture this dominating image of light. In the time of Shakespeare, his plays would have been performed during the day, using natural light from the open centre of the theatre. Since there could be no dramatic lighting andRead MoreRomeo and Juliet, by William Shakespeare532 Words   |  2 Pages In William Shakespeare’s, classic play, Romeo and Juliet, a young girl, Juliet, has fallen in love with a boy from a feuding family, Romeo. Friar Laurence, the priest, has married them against the rules. Juliet’s cousin, Tybalt starts a fight with Romeo and Romeo kills Tybalt. Romeo, in hysteria and distress goes searching for Friar Laurence’s advice, since the Friar is the only one who knows about the marriage besides the Nurse, Romeo and Juliet. In Scene 3 of Act 3, Friar Laurence’s speech revealsRead MoreRomeo and Juliet by William Shakespeare893 Words   |  4 Pagesare. In the play Romeo and Juliet, by William Shakespeare, the playwright used the Nurse, Lord Capulet, and Friar Lawrence to show how taming the wills of the teens and forcing their wishes upon them could turn the play Romeo and Juliet into a tragic love story. The Nurse is one of the adults who is to blame for the tragic end of Romeo and Juliet.The Nurse is like Juliet’s mother and has a lot of trust towards the Nurse, but this changed when Juliet met Romeo. When Romeo and Juliet decided to getRead MoreWilliam Shakespeare s Romeo And Juliet1197 Words   |  5 Pagesforbidding it’s deadly, referring of course to the classic William Shakespeare play of â€Å"Romeo and Juliet†, set in Verona, Italy. The play examines two families, the Montauges and the Capulets caught in an ongoing battle of hate, however two of the children manage to find love. All is not fair in love and war, and this play examines some examples of how love and hate correlate to each other in this captivating tale of â€Å"Romeo and Juliet†. It’s a feud so deep and long lasting it seems that nothingRead MoreWilliam Shakespeare s Romeo And Juliet1287 Words   |  6 PagesLizzy Baginski English Composition 2 Mr. Spera March 10, 2015 Romeo and Juliet Research Paper The movie Romeo and Juliet is a modern classic film that took place in 1996. Overall this is a timeless story that everyone should go and watch. This movie has an intriguing plot line that tells the story of two feuding families, The Montagues and The Capulets, and how the children of these two different families fall in love. The two children overcome various obstacles such as hiding their chemistry fromRead MoreWilliam Shakespeare s Romeo And Juliet925 Words   |  4 Pagesmade by Romeo. This happens right after Romeo gets to Juliet’s grave, then meets Paris, fights Paris, and kills Paris.[a]Right before Paris dies, he says â€Å"Oh, I am slain! If thou be merciful, Open the tomb. Lay me with Juliet† (Shakespeare 5.3.72-73). Paris is brave and proud enough to tell Romeo, the person that kills him, to put him in the grave next to Juliet, who he was going to marry. Romeo’s true love for Juliet caused all of this in the first place. In the play, The Tragedy of Ro meo and JulietRead MoreWilliam Shakespeare s Romeo And Juliet967 Words   |  4 Pagesof ‘Romeo and Juliet’ written by William Shakespeare. Shakespearean time was between the middle Ages and the Industrial Revolution and it was branded by religious changes. William Shakespeare is widely known as the greatest dramatist of all time. Born April 1564, Shakespeare’s play ‘Romeo and Juliet’ is no doubt one of his most famous pieces. ‘Romeo and Juliet’ was first published in 1597 and its tragic story of banned love still captures the creativity of its audience today. ‘Romeo and Juliet’, althoughRead MoreWilliam Shakespeare s Romeo And Juliet 966 Words   |  4 Pages Beauty Over Gold â€Å"Beauty provoketh thieves sooner than gold.--William Shakespeare, 1623. In his book As You Like It, William Shakespeare pointed out the supremacy of love rather than the want of gold and wealth. Truly, beauty is more important to thieves than wealth. Many of the thieves in this world would rather have an elegant woman than to obtain precious rubies. After all, what good is a prosperous man if he doesn’t have a charming woman? Two famous men grab my attention who didn’t fear for

Channels of Distribution for Insurance Products Free Essays

Channels of Distribution for Insurance Products PRAKASH PRABHAKAR PATIL DPGD/JL10/0480 Specialization: – Banking, Investment and Insurance Welingkar Institute of Management Development Research Year of submission: – May 2012 ACKNOWLEDGMENT I would like to acknowledge and extend my heartfelt gratitude to the following persons who have made the completion of this project possible. I am highly indebted to Wellingkar Institute of Management for this opportunity and constant guidance as well as for providing necessary information regarding the project. I would like to express my gratitude towards my parents colleagues of HDFC Life Insurance for their kind co-operation and encouragement which help me in completion of this project. We will write a custom essay sample on Channels of Distribution for Insurance Products or any similar topic only for you Order Now I would like to express my special gratitude and thanks to industry persons for giving me such attention and time. Prakash Patil TABLE OF CONTENTS |Content |Page No | |Introduction – Insurance Market in India – A Quick look 4 | |Distribution Channel – Definition Importance |6 | |Current distribution channels for Insurance products |8 | |Tied (Agency) Channel |9 | |Corporate Agency |13 | |Brokers |14 | |Bancassurance |17 | |Online/ Internet |23 | |Microinsurance |26 | |Worksite Marketing |28 | |Indian Postal Services |30 | |Telemarketing |32 | |KIOSK or Virtual Marketing |33 | |Background |34 | |Methodology |35 | |Problems in Distribution of Insurance products in India |35 | |Conclusions Recommendations |44 | |Limitations |48 | |Bibliography |49 | INTRODUCTION ? Insurance Market in India – A Quick look Life insurance industry in India has gone through many phases since its start in 1818 with the establishment of the Oriental Life Insurance Company in Cal cutta. In 1829, the Madras Equitable had begun transacting life insurance business in the Madras Presidency. 870 saw the enactment of the British Insurance Act and in the last three decades of the nineteenth century, the Bombay Mutual (1871), Oriental (1874) and Empire of India (1897) were started in the Bombay Residency. This era, however, was dominated by foreign insurance offices which did good business in India, namely Albert Life Assurance, Royal Insurance, Liverpool and London Globe Insurance and the Indian offices were up for hard competition from the foreign companies. In 1914, the Government of India started publishing returns of Insurance Companies in India. The Indian Life Assurance Companies Act, 1912 was the first statutory measure to regulate life business. In 1928, the Indian Insurance Companies Act was enacted to enable the Government to collect statistical information about both life and non-life business transacted in India by Indian and foreign insurers including provident insurance societies. In 1938, with a view to protecting the interest of the Insurance public, the earlier legislation was consolidated and amended by the Insurance Act, 1938 with comprehensive provisions for effective control over the activities of insurers. The Insurance Amendment Act of 1950 abolished Principal Agencies. However, there were a large number of insurance companies operating in India by independence and the level of competition was high. There were also allegations of unfair trade practices. Therefore, post independence, Government of India decided to nationalize insurance business. Accordingly in January 1956, nationalization of life insurance was done by formation of Life Insurance Corporation (LIC) by absorbing 154 Indian, 16 non-Indian insurers and 75 provident societies. In 1972, general insurance business was also nationalized with effect from 1st January, 1973. 107 insurers were amalgamated and grouped into four companies, namely National Insurance Company Ltd. , the New India Assurance Company Ltd. , the Oriental Insurance Company Ltd and the United India Insurance Company Ltd. The General Insurance Corporation of India was incorporated as a company in 1971 which commenced its operations in 1st January 1973. There has been considerable time lag between reforms of insurance sector and rest of financial sector. Therefore in 1993, Government of India set up committee chaired by RN Malhotra, former governor of RBI, to propose recommendations for reforms in Insurance sector. Committee submitted its report in 1994 wherein it recommended to open the Insurance Sector for Private and foreign players. Following the recommendations of the Malhotra Committee report, in 1999 the Insurance Regulatory and Development Authority (IRDA) was constituted as an autonomous body to regulate and develop the insurance industry. The IRDA was incorporated as a statutory body in April, 2000. The key objectives of the IRDA include promotion of competition so as to enhance customer satisfaction through increased consumer choice and lower premiums, while ensuring the financial security of the insurance market. The IRDA opened up the market in August 2000 with the invitation for application for registrations. Foreign companies were allowed ownership of up to 26%. A number of amendments were brought in various insurance related statutes, viz. , Insurance Act, 1938, LIC Act, 1956 and General Insurance Business Nationalization Act, 1972 (GIBA). The Progress in the overall developments in the insurance sector were swift and more prominent after the establishment of IRDA. The four public sector non-life insurance companies were de-linked from being subsidiary of the General Insurance Company of India. Now they operate independently and compete with each other. With the progress of reforms, Insurance market has been flooded with a number of players. As at end-March 2006, among the life insurers, there were 23 companies in private sector and Life Insurance Corporation of India (LIC) was the solitary public sector company. Among non-life insurers, nine companies were in private sector and four companies were in public sector (Annex II). As regarding the present size of the insurance market in India, it is stated that India accounts not even one per cent of the global Insurance market. However, studies have pointed out that India’s insurance market is expected to grow rapidly in the next 10 years. The Indian Insurance Industry: A Case Study Let’s understand the rules for formation of Insurance Company in India. ABC is foreign company having diverse business interests, including the arketing and selling of insurance products in the United States of America (USA). It has a strong infrastructure, good customer base and brand equity. ABC has heard that the Indian insurance market has opened up and seeks some information a bout opportunities there. ABC wants to tie-up with an Indian company (â€Å"XYZ†) by forming a joint venture and wants to know the amount of equity it can hold in an Indian joint venture company and the insurance products it can sell in India. The company has distributable profits in three (3) preceding financial years, prior to the year in which shares with differential rights are to be issued; Further, ABC has a subsidiary in India (the â€Å"ABC Sub†). ABC wants to know whether ABC Sub can enter into a joint venture with XYZ. Observations and Comments The Indian government has recently passed the Insurance Regulatory Development Authority Act, 1999 (the â€Å"IRDA†) whereby amendments have been made to the existing insurance laws prevailing in the country, namely, the Insurance Act, 1938 (the â€Å"Ins Act†), the Life Insurance Corporation Act, 1956 (the â€Å"Life Act†), and the General Insurance Business (Nationalisation) Act, 1972 (the â€Å"GIB Act†). An authority called the Insurance Regulatory Development Authority (the â€Å"Authority†) has been established to regulate the insurance sector. (Section 3 of the IRDA) The Authority, inter alia, will have the power to: Issue applicants a certificate of registration; renew, modify, withdraw, suspend or cancel such registration. (Section 14(2)(a) of the IRDA) A certificate of registration will have to be renewed annually. (Section 3A of the Ins Ac t r/w the First Schedule of the IRDA) †¢ Prescribe prudential norms such as solvency margins and investment guidelines for insurance companies (Section 14(2)(k) and (l) of the IRDA) †¢ Protect interests of policyholders in matters concerning assignments of policies, nominations by policyholders, insurable interest, settlement of insurance claims, surrender value of policies, and other terms and conditions of contracts of insurance. (Section 14(2)(b) of the IRDA) However, the Indian Government has retained with itself the power to issue directions on questions of policy. (Section 14(2)(b) of the IRDA) The definition of an â€Å"Indian insurance company† has been amended to include â€Å"any insurer being a company- 1. Which is formed and registered under the Companies Act, 1956; 2. In which the aggregate holding of equity shares by a foreign company, either by itself or through its subsidiary companies or its nominees does not exceed twenty-six per cent (26%) of the paid-up capital; and 3. Whose sole purpose is to carry on life insurance business or general insurance business or reinsurance business. (Section 2(7A) of the Ins Act r/w the First Schedule of the IRDA) The explanation to this section provides that a â€Å"foreign company† is a company that is not a domestic company. (Section 2(23A) of the Income-tax Act, 1961 r/w section 2(7A) of the Ins Act r/w the First Schedule of the IRDA) The IRDA by amending the Ins Act clearly provides that the aggregate holding of equity shares by a foreign company, either by itself or through its subsidiary companies or nominees should not exceed 26% of the paid-up capital of the insurance company. It has been clarified that the twenty-six per cent (26%) cap applicable to foreign companies will also apply to foreign institutional investors, non-resident Indians and overseas corporate bodies. Section 2(7A)(b) of the Ins Act r/w the First Schedule of the IRDA) Thus, a foreign company is now permitted to own upto 26% of the equity in an Indian joint venture company. Therefore, if ABC proposes to form a joint venture with XYZ, ABC’s shareholding will be restricted to a minority shareholding of 26 % in the joint venture company. It must be noted that the Indian insurance company must be a public limited company. (Section 2C of the Ins Act) Now, let us assume that ABC has a subsidiary company in India (the â€Å"ABC Sub†) in which it owns a fifty-one per cent (51%) equity and decides that ABC Sub should enter into the insurance joint venture with XYZ. This will not be permissible. According to recent informal pronouncements of the Authority, Indian companies that are subsidiaries of overseas companies will not be allowed to tie-up with other Indian companies to do insurance business. The Authority perceives this as violation of the twenty-six per cent (26%) equity cap by forming insurance companies. ABC can, however, along with several other foreign companies have a stake in an insurance company operating in India as long as the combined equity stake of all foreign companies does not exceed twenty-six per cent (26%). The Authority will not register any new insurance company carrying on the business of life or general insurance unless it has a minimum paid-up capital of Rs. 100 crores. No composite license for life and non-life business will be granted. For companies in the reinsurance sector, a minimum paid-up capital of Rs. 200 crores is required. (Section 6 of the Ins Act) The foregoing paid-up share capital must be brought into the new company within six (6) months of issue of the license. (Section 6 of the Ins Act r/w the First Schedule of the IRDA) In addition, every insurer will be required to undertake such percentages of life insurance or general insurance business in the rural or social sector, as specified in the Official Gazette by the Authority in this behalf. (Section 27D of the Ins Act r/w the First Schedule of the IRDA) Furthermore, a new insurance company will be permitted to invest policyholders’ funds only in India. Section 27C of the Ins Act r/w the First Schedule of the IRDA) Every insurer shall, in respect of its life insurance business, be required to deposit with the Reserve Bank of India, either in cash or in approved securities, a sum equal to one per cent (1%) of its total gross premium written in I ndia, not, however, exceeding Rs. 10 crores. In respect of the general insurance business, this sum will equal three per cent (3%) of its total gross premium written in India, not, however, exceeding Rs. 10 crores. In respect of re-insurance business, this sum will equal Rs. 20 crores. (Section 7(i) of the Ins Act r/w the First Schedule of the IRDA) It has been provided that an Indian promoter holding more than twenty-six per cent (26%) of the paid-up equity capital of an Indian insurance company will ave to divest in a phased manner the share capital in excess of twenty-six per cent (26%), after a period of ten (10) years from the date of commencement of business by the Indian insurance company. (Provision to section 6AA of the Ins Act r/w the First Schedule of the IRDA) On the one hand, the Indian government has restricted foreign equity ownership in Indian insurance companies to twenty-six per cent (26%) whereas on the other hand, it wants Indian partners to divest their equity h oldings to twenty-six per cent (26%) after ten (10) years. Recently government has been in considering increasing the limit on foreign investments up to 49% from current 26%. Also norms for IPO are expected to be finalized shortly which would enable companies to go public for raising funds. The IRDA has allowed three kinds of insurance brokerage firms to operate in the country, namely, insurance, re-insurance, and composite brokerage firms. The twenty-six per cent (26%) equity cap will apply to such firms too, except that; composite brokers may enjoy a higher equity cap of forty-nine per cent (49%). Company formation consideration †¢ On complying with the registration formalities, ABC and XYZ will have to enter into a shareholders’ agreement. The main issue that arises here is exercise of control in the functioning of the joint venture company. Generally, exercise of control can be at two levels Board of Directors; and Shareholders. †¢ Under the Companies Act, 1956 (the â€Å"Cos. Act†) a company can carry on activities by passing either of two resolutions, special resolutions and ordinary resolutions. Ordinary resolutions can be passed by shareholders having 50% plus one shares with voting rights in the company, whereas special resolutions can be passed only by shareholders having 75% shares with voting rights in the company. A special resolution is, inter alia, required to amend the Memorandum and Articles of Association of a company, to issue further shares through a rights issue, to give loans or guarantees to other companies, etc. With a twenty-six per cent (26%) equity stake, ABC will only be in a position to block special resolutions. It will not be able to control the day-to-day functioning of the joint venture company. Additionally, the Authority has prescribed that foreign insurance companies cannot retain Board control in Indian insurance joint venture companies. Therefore, ABC will not be able to appoint majority directors on the joint venture company’s Board. Another pertinent point that arises is infusion of funds to the extent of seventy-four per cent (74%) of the equity of the joint venture company by the Indian partner, namely, XYZ. XYZ will have to bring in a minimum amount of 74 cores, if the joint venture company seeks to enter into the business of life or general insurance. Further, in the event of increase of share capital, XYZ will have to pump in an amount equal to its seventy-four per cent (74%) equity stake. This can cause some problems. It should be noted that preference shares cannot be issued by companies carrying on life insurance business (Section 6A(1)(i) of the Ins Act). As such, the joint venture company carrying on life insurance business cannot comply with the capitalization stipulations by issuing preference shares to ABC In such circumstances, the parties can consider entering into a three-way joint venture either with another Indian company or with a bank. The Reserve Bank of India (â€Å"RBI†) has permitted banks to enter into the insurance sector and to invest up to fifty per cent (50%) of their paid-up capital in insurance joint ventures. The liberalization of the Indian insurance sector has open up the sector to private competition. If ABC and XYZ can establish the right amount of trust and take a long-term perspective on the Indian market, their joint venture can be a major success. ? Distribution Channel – Definition Importance in Indian insurance Industry The process of making a product or service available to customer for use or consumption at desired place and time by set of two or more interdependent organizations. It can also be termed as an Intermediary between end consumer and seller or service provider. Intermediaries typically charge a â€Å"mark-up† or â€Å"commission† for participating in the channel. Post nationalization of Insurance companies, tied agents were the primary channels for insurance distribution in the Indian market; the public sector insurance companies have their branches in almost all parts of the country and have attracted local people to become their agents. The agents are from various segments in society and collectively cover the entire spectrum of society. A person who has lived in the locality for many years sells the products of the insurance company with a local branch nearby. This ensures the last mile touch point being closer to the customer. Of course, the profile of the people who acted as agents suggests they may not have been sufficiently knowledgeable about the different products offered, and may not have sold the best possible product to the client. Nonetheless, the customer trusted the agent and company. This arrangement worked adequately in the absence of competition. In terms of ‘Insurance Penetration Ratio’ (defined as ratio of insurance premium to GDP), a key indicator of the spread of insurance coverage and insurance culture, India compares very poorly by international standards. The penetration ratio was less than one per cent in 1990s and it improved to 5. 2% by year ended on March 2009. As against this, as per report from Swiss Re penetration ratio by year ended on March 2009, in respect of some of the developed countries, viz. , UK and South Africa at 12. 90%. In Asia, Taiwan and Hong Kong had registered their respective ratio of as high as 16. 8% and 11. 0%. Insurance penetration for the world was placed at 7. 0% which was far ahead than that of India. Refer: Table 1) Thus in a country with 1. 21 billion overall population, the penetration ratio indicates that still there is vast majority of population still outside reach of Insurance; especially in rural and semi-urban areas, in the context of the absence of social security schemes. This clearly suggests that there is a vast opportunity to tap in insurance sector by widening the distribution channels. Nearly as old as the banking industry or perhaps even older, insurance as a model of risk management, is centuries old. Though the industry began in a small way, it evolved to become an integral part of the financial services businesses over time. Table 1: International Comparison Of Insurance Penetration, March 2009. Developed Countries |Country |Total |Life |Non-Life | |Australia |6. 40 |3. 40 |3. 00 | |Brazil |3. 10 |1. 60 |1. 50 | |France |10. 30 |7. 20 |3. 10 | |Germany |7. 00 |3. 30 |3. 0 | |Russia |2. 50 |0. 00 |2. 50 | |South Africa |12. 90 |10. 00 |2. 90 | |Switzerland |9. 80 |5. 40 |4. 50 | |United Kingdom |12. 90 |10. 00 |3. 00 | |United States |8. 00 |3. 50 |4. 50 | Asian Countries Country |Total |Life |Non-Life | |Bangladesh |0. 90 |0. 70 |0. 20 | |Hong Kong |11. 00 |9. 60 |1. 40 | |India# |5. 20 |4. 60 |0. 60 | |Japan |9. 90 |7. 80 |2. 10 | |Malaysia |4. 40 |2. 90 |1. 0 | |Pakistan |0. 70 |0. 30 |0. 40 | |PR China |3. 40 |2. 30 |1. 10 | |Singapore |6. 80 |5. 10 |1. 70 | |South Korea |10. 40 |6. 50 |3. 90 | |Sri Lanka |1. 40 |0. 60 |0. 90 | |Taiwan |16. 0 |13. 80 |3. 00 | |Thailand |4. 00 |2. 40 |1. 60 | |World |7. 00 |4. 00 |3. 00 | Source: Swiss Re, Sigma various volumes * Insurance penetration is measured as ra tio of premium (in US Dollars) to GDP (in US Dollars) # Data relates to financial year ? Current distribution channels for Insurance products in India:- Traditionally before privatization insurance products were only sold by agents. Strategy also worked due to absence of competition in market. However post privatization, competition got tougher and need for alternate channels of distribution was strongly felt. Currently insurance products are being distributed through following channels: Current distribution of Insurance products in India Insurers ? Tied (Agency) Today’s insurance agent has to know which product will appeal to the customer, and also know his competitor’s products in the same space to be an effective salesman who can sell his company, the product, and himself to the customer. To the average customer, every new company is the same. Perceptions about the public sector companies are also cemented in his mind. The new companies are looking for educated, aware individuals with marketing flair, an elite group who can be attracted only with high remuneration and the lure of a fashionable job, all of which may not be possible in this business with its price pressures and the complexity of selling insurance. Unable to attract this segment, they have started easing recruitment conditions as against the stringent norms they had earlier, thereby diluting the process. While the public sector companies are able to attract agents, they continue to suffer from high attrition rates due to indiscriminate agent appointment. The most successful of these companies tied agents are hardly of the elite variety of salesman. They are still the people from neighborhood — the postman, the schoolteacher, and the shopkeeper — who know the people and are themselves known in the community. The challenge here is the lack of knowledge of the competitive market and the inability to do intelligent comparisons with the competitor’s products. Educating and training these agents is a serious challenge for the insurance company. The relevance of this kind of agent continues even today as agents are sought or contacted by families by word of mouth. Insurance companies are advised not to follow the path of FMCG’s/credit card companies, believing that a suited and booted customer care consultant or financial consultant will necessarily appeal to the average Indian customer. In this context it might be a rewarding exercise to recruit some older people (who have taken Voluntary Retirement from banks and other financial institutions) to sell some lines of products like pension plans, annuities etc. Gender of agents is another relevant feature in the rural context that makes a difference, especially for the female population. Women to whom the customers can relate –e. g. , nurses, gram sevikas — can target the female segment of the population more effectively. What is applicable for the rural women and children health programs and population control programs is equally applicable for insurance selling also. With this kind of segmentation of intermediaries the challenge for the insurance company lies in training and educating these people to become effective sales persons. But this in no way diminishes the benefits of intermediary segmentation. †¢ SWOT Analysis on Agency Channel Strengths:- †¢ Typicality of Indian customers who always favors known and reliable intermediary. †¢ Through agency, personal contact and relationship can be established with the customer. Agents usually enjoy personal credibility with customers. †¢ Agents provide various presales and post sales services to customers. †¢ This channel’s awareness and acceptability is maximum among people. †¢ Cross selling is possible through this channel. †¢ Due to personal contact, it can provide valuable feedback about the need and expectation of consumers. Weakness:- Insurers have to bare higher cost to set up of agency channel network and provide training to personnel †¢ Higher commission rates forces insurers to deduct high charges from policy. †¢ High attrition rate of agents is a serious concern. Due to this, initial investment done on tr aining and educating the agents goes waste. Attrition causes the problem of servicing orphan policies. †¢ Agents are generally not tech savvy. Opportunities:- †¢ High net worth individuals who prefer relationship over cost can be tapped. †¢ Technology can be embraced to convert prospect into business. †¢ Commissions structure can be designed in such a way that agents would want to stay active for long term. Threats:- Alternate distribution channels are more preferred by the insurers due to cost effectiveness over agency channel. At present, the number of agents working in life insurance industry is approximately 15 lakhs but a majority of them are dormant which leads to poor activity ratio. Out of the massive agency force approximately only 20% are active. What is need of the hour is not the quantity but the quality. Having some productive and lots of unproductive lot drags down the morale of the community of agents, leads to discontent within the profession and the respect for the profession is downgraded. Over manpower has its cost to the company in terms of unrecovered or under recovered training cost. Also, opportunity cost in terms of a more productive agent serving in place of a dormant agent can’t be looked over. Over manpower also contributes to mis-selling and refunds. Adequate concept, product and soft skill training is indispensible for professionalizing agency force. IRDA mandates companies to impart 100 hour training to its agents and today most of the companies have in-house training facility. But number of agents attending subsequent product trainings at the time of product launches and other soft skill training sessions gets reduced substantially. It leads to poor knowledge about company’s whole basket of offerings and agents selling only a few products instead of doing a true need-based selling to customers. The concern of the regulator towards growing proportion of linked products in companies’ total percentage of business can also be attributed to biasedness of training programs in favor of linked products. Training becomes all the more important in today’s competitive environment where the agent is not only selling insurance but the company providing insurance. Adequate and quality initial training at the time of licensing is like laying a strong foundation for agents entering the industry and subsequent trainings are like sharpening the agents’ willingness to stay competitive. Agents are off-roll employees of an insurance company and keeping them motivated is a big challenge. Companies run loyalty and engagement programs and sales incentive programs (like short term contests) providing various monetary and non-monetary benefits. They serve well to motivate the agents to perform better, increase interaction of agents with the companies, promote spirit of healthy competition among the agents and to recognize good performing agents, provided these programs are easily understandable, transparent and quick in benefit disbursal. This profession is also not left untouched by Information Technology. Most of the companies have a dedicated agent’s portal but the number of agents accessing them is less than satisfactory. One step forward in making the agents more efficient and professional is to make them more tech-savvy through training and other means. Looking at the regulatory front, a dispute redressal mechanism for the agents should be established by the IRDA. Insurance selling is a tough job. Agents are facing sharp competition from other alternative distribution channels and with so many insurance players in the fray, their job has become all the more difficult. Though the image of an agent has undergone lot of change since the time it was first introduced but still agents face a lot of sales resistance. Insurance companies need to consciously endeavor into dedicated efforts for the image makeover of their agents which will go much beyond calling them advisors or financial consultants instead of agents. Agents are the true Brand Ambassadors of the company and they deserve a fair treatment from the insurers. In spite of multitude of other distribution channels coming up, tied agency is here to stay because of attitude and typicality of Indian customers. What is needed is a genuine effort in recruitment, training and development of a good agency force critical for growth and survival, knowing that for a long-term business like insurance quality, productivity and ethical values must be deep-rooted fully in the workforce. ? Corporate Agency The corporate agent is an extension of the agent as the insurance agent is an individual and if two agents join together and form a firm or company, it becomes corporate agent. The procedure to become a corporate agent is the same as that of an agent but may have to contribute the share capital of 15 lakh at the discretion of the insurer. Corporate agency channel was the key distribution channel for Insurance. Since IRDA allowed corporate agents into distribution of Insurance, it flourished like anything. It has a major advantage of cost affordability over traditional agency channel for insurers. However due to increased complaints of mis-selling and high lapsation of policies sourced through corporate agencies was a growing concern over the time. Majority of the policies were sold as a short term investment option rather than long term security. Customers were kept under dark about various charges of policy and other terms and conditions which makes insurance policy a long term investment option. Also there were instances where same set of individuals have floated different corporate agencies and they even employed people without valid licenses. To overcome these challenges and protect customer interest, IRDA came up with tringent licensing norms for corporate agencies in June 2010 which tighten the license renewal process that made many small corporate agents ineligible as they were not conforming to the new norms. In addition of this IRDA also recommended regular on-side inspection of corporate agents to control various mal practices that had entered the system. Due to IRDA’s on-side inspection companies wherein same set of individuals have floated different corporate agencies went out of business. In November 2011, IRDA came out with persistency ratio for corporate agents; according to which it would mandatory for corporate agents to retain at least 50% of their clients. These norms with cap on commission have made its viability questionable. Also IRDA proposed a disincentive for lapsation in the form of commission claw back by the insurer, on a proportionate basis. Alternatively, a part of the first year commission should be withheld to be paid based on persistency in later years. These guidelines have ensured the restriction of the agencies which used to sell the insurance policies only for higher first year commission by using malpractices and only those who are willing to do long term and ethical business can survive. ? Brokers Insurance brokers is being totally new distribution channel which can sell the products of all the insurers on all India basis but minimum capital requirement is 50 lakh with proper office infrastructure and manpower. Every Insurance Broker will have to pay annual fees of 0. 5% of his brokerage and insure himself under Professional Indemnity insurance. Broker channel offers several benefits for customers like Choice, expertise and customer servicing. These are elaborated below. Choice:- There are about 50 insurance companies in India and as a result hundreds of different product options which can help customer to choose product exactly as per his need. Unfortunately the benefit of this market diversity never reaches the customers if they purchase insurance through agents. Brokers by definition are not tied to any one insurer and have a bias to present as many options as possible to clients. Also, brokers have a unique advantage as they can combine the life, non-life and health insurance requirements of a client. A broker can explain the distinctions of these different product types to a client and pick the most relevant options. This allows brokers to work with relatively smaller companies in a profitable manner. Individual insurers and agents would not have the same economies of scale in serving small clients. Expertise:- Brokers are constantly exposed to people and product offerings of different companies. Brokers participate in training programme conducted by different companies. This puts brokers in a unique position to understand market trends and developments. A good broker will harness this information to create deep market expertise. Such expertise has three main benefits. First, brokers can educate clients about product options and then push insurers hard to develop the appropriate products. The result is a steady improvement in product quality. Second, brokers can express a client’s case in a language that insurers understand and vice versa. Quite often clients are confused when faced with all the technicalities of insurance. Brokers bridge this gap. Finally, the expertise is vital in effectively managing the client’s risk, particularly in volatile times. Customer Servicing:- Because of the privileged customer–broker relationship, the broker has to build customer servicing capability. In fact the ability of a broker to retain a client, quite often depends upon its servicing strengths. No insurer or agent can play this role adequately because of the inherent conflict of interest between the claimant and the insurance company. Benefits to Industry and regulators point of view:- Brokers offer several benefits to the regulator as well. The strong customer focus of a broker is an obvious benefit. Moreover, primarily because of their deep expertise, brokers can be a very effective route to collate consumer feedback on its guidelines and regulations. Brokers go through a rigorous screening process by the regulator. Fly-by-night operators are effectively screened out. Therefore, a robust broking channel will result in fewer customer grievances and mis-selling issues. Last but not the least; brokers are very effective in reducing the cost of distribution. The experience in several countries has been that intermediation costs reduce as the broking channel becomes better established. The IRDA has a significant role to play in strengthening the broker’s role in industry. First, it should attract high quality talent and capital in the channel. The quality of the players will be the foremost determinant of the development of the channel. Second, IRDA should look to incentivize focus on pure protection solutions. The low ticket size of pure protection plans and the current commission structure results in small absolute earnings for the channel. In the backdrop of low consumer awareness, the cost of acquiring a customer is high, hence the current compensation does not provide an economic rationale for intermediaries to focus on such pure risk products. Finally, in its developmental role, IRDA can educate customers on the advantages, roles and responsibilities of a broker. Issues faced by Brokers Channel:- The Brokers segment offers a mystifying problem to the insurers. This segment is able to reach out to a wide audience and has gained pace over the decade since liberalization. Hence it is an effective channel to gain market share. But profitability issues remain due to greater costs incurred on this high maintenance channel. Given that the Indian customer, just as customers in the developing world, will not like to pay upfront charges for consulting, the broker too needs to maintain his overheads by placing the policy that makes the most economic sense, rather than one that would benefit the customer the most. That said, brokers segment is a specialized channel that will continue to maintain a reasonable share in the new business premiums. The positives are that brokers in the urban arena can attract the elite and the upper middle class customer. Brokers represent the customer and will sell the products of more than one company. They seek to determine the best fit for the client and can effectively address the mind block faced by the public about the various companies. This is applicable in the case of life insurance for the high-end and corporate/group segment. In the non-life segment, broking is not entirely new, as reinsurance brokers were arranging exotic covers. For individual customers also, with a wide range of competitive products, the broker can get a good deal. The corporate broking companies will have to play a prominent role. We are still in the early years of the industry’s growth in India. The best is yet to come. We expect that over time the market will mature and the broking channel will develop with considerable depth and robustness. ? Bancassurance – Comprehensive medium of Insurance distribution The banking Insurance industry have charged rapidly in the changing and challenging economic environment through out the globe. In the competitive open environment each every one wants to do better than others. And they know that if they are not able to provide better service they won’t survive in Industry. Insurance companies are also to be competitive by cutting cost serving in the better way to customers. Now the time has come to choose and adopt appropriate distribution channel. The Bancassurance is the distribution of insurance products through the bank’s distribution channels. It is a phenomenon where in insurance products are offered through the distribution channels of the banking services along with a complete range of banking investment products services. In simple term we can say Bancassurance tries to exploit synergies between both the insurance companies banks. Bankers Perspective:- In the post reforms, the financial sector has more number of players of both domestic and foreign and the dividing line between the banks and non-banking financial institutions’ activities had considerably thinned down. Overlapping in one another’s functions/ areas have become more common than exception. The direct upshot of these developments led to intensive competition in the banking sector and which in turn had a strong bearing on the banks’ net interest margin (spread). In fact the emerging scenario is likely to bring down the banks’ spread even thinner. Despite the monstrous size of public sector banks, they too observed decline in their spread. Further, banking system in India was prone to very high NPA’s (Non Performing assets) which was further ruining the burden on banks. Therefore, banks were compelled to be constantly on the look out for stable alternate sources of earnings in the form of non- traditional and fee based sources of incomes and diversification towards new areas such as bancassurance, promises greater scope for further enhancement in earnings with no menace of increase in NPA’s. Persistent endeavor in scouting for new technology, new products/ services/ new avenues, has become necessary for the growth as well as sustainability of banking system. It is in this context possibly, bancassurance could well be an appropriate choice for banks to increase their stable source of income with relatively less investments in the form of new infrastructure. As far as banking sector’s infrastructure is concerned, only a few countries could match with India for having largest banking network in terms of bank branches spreading almost throughout the length and breadth of the country. As on year end on March 2011, no of branches of all banks across India stands at staggering 89622 with growth of 36% since 2010. Out of this large network of branches nearly 62% of branches are located in rural and semi urban areas and the remaining around 38% are in urban and metropolitan areas. Besides the commercial banking system, India has large rural credit cooperatives as also urban cooperative banking network. Taken together these institutional set up, the ratio of population served by a bank branch would work out to be far lower. Thus, on the one hand we have a very low insurance penetration and low insurance density as compared with the international standards; on the other hand, India has a widely stretched and well established banking network infrastructure. It is this contrasting situation to absorb the two systems by way of ‘bancassurance strategy’ to reap the benefits of synergy. This is an opportune time for both banking and the insurance sectors to come closer and forge an alliance for the mutual benefit. For, both the regulators, i. e. , RBI and IRDA have already proffered appropriate policy guidelines and set in a congenial environment for such an endeavor. Besides, the Government of India’s unequivocal policy to provide insurance cover to the low income households and the people at large at a minimum cost are also favorable. Table 2: POPULATION GROUP-WISE NUMBER OF BRANCHES OF BANKS IN INDIA YEAR |RURAL |SEMI-URBAN |URBAN |METROPOLITAN |TOTAL | |1970 |3063 |3718 |1744 |1606 |10131 | |1980 |15105 |8122 |5178 |4014 |32419 | |1990 |34791 |11324 |8042 |5595 |59752 | |2000 |32734 |14407 |10052 |8219 |65412 | |2001 |32562 |14597 |10293 |8467 |65919 | |2002 |32380 |14747 |10477 |8586 |66190 | |2003 |32303 |14859 |106 93 |8680 |66535 | |2004 |32121 |15091 |11000 |8976 |67188 | |2005 |32082 |15403 |11500 |9370 |68355 | |2006 |30579 |15556 |12032 |11304 |69471 | |2007 |30551 |16361 |12970 |11957 |71839 | |2008 |30914 |17791 |14416 |13038 |76159 | |2009 |31576 |19075 |15479 |13921 |80051 | |2010 |32497 |20707 |16884 |14935 |85023 | |2011 |33495 |22631 |17712 |15784 |89622 | Source: RBI annual report, 2010-11. Note: Data are exclusive of administrative offices. Above all, in India still vast majority of banking operations are conducted manually at the bank’s branch level with relatively less automation such as ATMs, tele-banking, internet banking, etc. , unlike many developed countries. This stands out as an added advantage for the banks to have direct interface with the customers, to understand their needs/tastes and preferences, etc. , and accordingly customize insurance products. In fact there is also greater scope for innovation of new insurance products in the process. Therefore bancassurance can be a feasible activity and viable source of additional revenue for the banks. Insurers Perspective:- Contemporaneously, with the sweeping financial reforms in the insurance sector and the consequent opening up of this sector, all the private entities plunged almost simultaneously with a very little spacing of time and the entire insurance sector has been exposed to stiff competition. Insurers too have much to gain from bancassurance. The cost of the traditional agency channel is prohibitive with the high risk of agency turnover ranging between 30 to 40% every year, thus making the entire recruiting and training expenses going down the drain. Moreover, the price competition has reduced the profit margins and increased the compensation demands of the successful agents. The incentive pattern has a lot to do in this spiraling of the cost of the agency channel. Bancassurance has come in very handy for winning the middle income market which forms the bulk of the bank customers. With Bancassurance, the cost of opening new insurance branches comes down drastically for the insurer. With an agreement with a bank, all the thousand and more branches of the bank become the extended arms of the insurer. Customer Perspective:- The most immediate advantage for customers is that, in insurance business the question of trust plays a greater role, especially due to the inbuilt requirement of a long term relationship between the insurer and the insured. In India, for decades, customers were used to the monopolistic attitude of public sector insurance companies, despite there were many drawbacks in their dealing, they enjoyed customer confidence, this trend continues even now mainly due to their Government ownership. The customers to move over to private insurance companies that are collaborated with foreign companies which are less known to the Indian public would take little more time. The void between the less known newer private insurance companies and the prospective insured could be comfortably filled by the banks because of their well established and long cherished relationship. Under these circumstances, any new insurance products routed through the bancassurance channel would be well received by the customers. Bancassurance is always a win-win situation for customers. It provides greater convenience by providing all the financial needs under one roof. The customer need not always wait for his insurance agent to come and render service. Whenever the client goes to the bank for his/her other needs like housing loan, overdraft, some draft issuance etc, he can complete his insurance needs too. It’s always easier to deal with one agent for all the financial needs rather than separate agents for every product. For paying renewal premium for policy would also be easier with services like ECS, Billpay or standing Instructions. Reduced distribution cost for insurers will lead to reduced premiums for policies. SWOT Analysis on Bancassurance Strengths:- In a country of more than one billion population, sky is the limit for selling insurance products. There is a vast untapped potential as the life insurance industry just covered around 20 crores of people – the number of policies will be more in view of the multiplicity of the policies per person. Millions of people travel out of India every year for various reasons, necessitating the purchase of Travel insurance and Health insurance. This is besides their need for conventional policies. There are a lot of sunrise industries like the IT sector, the hospitality sector, the healthcare portfolio, the education sector, BPOs and the call centers, R D etc, providing a huge pool of professionals ready to be tapped for their insurance needs. Weakness:- The difference in working style and culture of the banks and insurance sector needs greater appreciation. Insurance is a ‘business of solicitation’ unlike a typical banking service, it requires great drive to ‘sell/ market the insurance products. It should, however, be recognized that ‘bancassurance’ is not simply about selling insurance but about changing the mindset of a bank. Moreover, in India since the majority of the banking sector is in public sector and which has been widely disparaged for the lethargic attitude and poor quality of customer service, it needs to refurbish the blemished image. Else, the bancassurance would be difficult to succeed in these banks. Unlike, the banking service, there is no guarantee for insurance products that all efforts that a bank staff spends in explaining to a customer would clinch the deal due to the very nature of the insurance products. This frustration of the bank staff has the danger of spillover effect even on their regular banking business. With the financial reforms and technological revolution embracing the financial system, there has been a great deal of flexibility in the mind set of people to accept change. The above outlined problems need not, however, deter the banking sector to embark on bancassurance as any form of resistance from the bank employees could be tackled by devising an appropriate incentive system commensurate with intensive training to the frontline bank staff. On other hand, the middle class population is over-burdened today by the inflationary pressures. This is considerably reducing the amount of savings of a middle class income group. Also absence of elementary IT requirements is still the case in many of the PSU and co-operative bank branches which is a concern area. Opportunities:- Bank has a huge database to work on. This has to be analyzed thoroughly and similar groups should be churned out in order to sell the bancassurance products. Since the Government pensions and other payments are handled through the bank branches, the bank can become a rallying point for more and more insurance business. Banks can become the ‘One stop shop’ where a customer can apply for banking, mortgages, pensions, investment and insurance products. Threats:- The bank employee is so well entrenched in his classical way of working that there is a definite threat of resistance to any change the Bancassurance may bring in. The knowledge level of the bank staff on insurance matters is so low that all enquiries of the customers are turned over to the insurer much to the disappointment and discomfiture of the client. The bank employee simply becomes a post man in transferring the problems of the client. The same trouble comes in the matter of other servicing aspects like the policy revivals or claims. There are hazards of direct competition to conventional banking products. The bank personnel may become resistant to sell insurance products, fearing that the bank’s savings may be diverted to the insurance companies. The strategy should be using multiple banks according to their presence in different regions. Success would come by using bancassurance where it will be most effective i. e. selling simple, cheap products to the masses at a low cost. This awareness is growing and is evident from the fact that nearly every insurance company has partnered with one or many banks to implement bancassurance. ? Online Sales Channel – A feasible alternative India is joining the fast growing breed of net users and using net for banking transactions is also growing rapidly. Now almost all the public and private sector banks provide online banking facility as an add-on advantage with savings accounts. In insurance industry, just few years back internet was used mostly used by Insurers for Policy servicing, promotion of new products and providing various tools like illustrative calculators etc†¦ However selling insurance products online is a relatively new concept in India. Let’s understand the need of online distribution in Insurance industry. In 2010, the insurance regulator tightened norms which forced insurers to cut down commission to agents. The regulator also made it mandatory for agents to achieve a minimum level of productivity and persistency of business. As a result of these tough measures the number of life insurance agents dropped from 28. 03 lakh in September 2010 to 24. 53 lakh in September 2011. Until a couple of years back most life insurers were swearing by face-to-face sales and maintained that online would be largely used for servicing. Change in the regulatory environment, which has compelled insurers to cut distribution costs, is leading companies to look at new low-cost channels for distribution. Recent developments in information technology (IT) and web-enabled systems have made it easier for insurers to run global operations in a way that would not have been possible even two years ago. Insurers are already reaping advantages from IT improvements in internal efficiencies in areas as diverse as underwriting, claims, policy administration, financial reporting and human resources. But efficiencies go beyond these internal ones. In the coming years, the internet will have at least two major effects on the insurance industry: cost efficiencies and broader distribution. These efficiencies will come as insurers experience a greater availability of data from the internet and the transfer of business processes from manual-related or computer-related systems to newer communication related systems. Such internet-style technology will reduce cost; reduce the level of effort and improve accessibility to large-scale data. Data accumulation becomes much easier under the internet approach and thus affects costs and value of insurance. The internet will bring insurers to a whole new base of customers and will allow them to sample new markets that would have been too expensive to enter. Making information available to potential customers and the ability to market products to the new audience will have a tremendous impact. Advantages of Online distribution:- †¢ It would reduce the internal administration and management costs by automating business processes, permitting real-time networking of company departments, and improving management information. †¢ It would reduce the commissions paid to intermediaries since it can be sold directly to clients. †¢ It would reduce the cost of training staff and other miscellaneous expenses required to run a branch. Response time for a conversion of policy would be much lesser than the manual submission. †¢ 24 hour connectivity for purchase and servicing of insurance policies. This would enable customer to pay premiums, check NAV, track due dates etc. as per his or her convenience. †¢ It will enable online request for quotes and data gathering which will improve efficiency. †¢ It will reduce the re-keying and typing errors which would save time and decrease risk. Compared to online stock broking or online banking, development of internet in insurance industry is somewhat cautious. There are some factors which makes the online selling of insurance policies difficult. Difficulties in selling Insurance online:- The complexity of many insurance products can make it difficult to automate the provision of information. However with improved technology and continuous innovations sometimes later it may be possible to automate complex information and offer that product online. †¢ In many cases, it is difficult to standardize claims settlement. E. g. Claims involves various investigations which needs to be carried out before making decision and would be subjective on case to case basis. This process often involves people and companies who are not in a contractual relation with insurers. †¢ Internet is particularly suitable for products where contact with company is very frequent. For Insurance products, contact with customer is often infrequent. Once policy is carried out, with some type of insurance the policy holder and insurers would get in touch only in case of occurrence of insured event. †¢ In India many customers still view internet as an insecure medium. This prevents large transactions being carried out through Internet and it deters the transmission of confidential information, both of which are essential aspects of insurance policies. While the technology capability is there, improvement in bandwidth and infrastructure are needed. There is also a need of simpler products where auto-under writing is feasible. Automobile insurance, one of the segments of insurance purchased â€Å"off the shelf† in India, would be the ideal segment to start with. On the life side, term assurance for standard lives with simplified underwriting is a possibility. Nowadays many general insurance products like Travel Insurance, Auto Insurance, Health Insurance and in case of life insurance Term Insurance are being sold over internet successfully. Because of the simple nature of these products insurers are have standardized the terms and conditions to be able to sell products online. Online selling has given them chance to go beyond the normal markets and sell these products to new entrants’ altogether. ? Microinsurance Microinsurance is the protection of low -income people against specific perils in exchange for regular premium payments proportionate to the likelihood and cost of the risk involved. Low-income people can use microinsurance, where it is available, as one of several tools (specifically designed for this market in terms of premiums, terms, coverage, and delivery) to manage their risks. India currently has the most dynamic microinsurance sector in the world. Liberalization of the economy and the insurance sector has created new opportunities for insurance to reach the vast majority of the poor, including those working in the informal sector. Even so, market penetration is largely driven by supply, not demand. It is often assumed that a microinsurance policy is simply a low -premium insurance policy. This is not so. There are a number of other important factors. Low-income clients often: †¢ Live in remote rural areas, requiring a different distribution channel to urban insurance products; †¢ Are often illiterate and unfamiliar with the concept of insurance, requiring new approaches to both marketing and contracting. †¢ Tend to face more risks than wealthier people do because they cannot afford the same defenses. So, for example, on average they are more prone to illness because they do not eat as well, work under hazardous conditions and do not have regular medical check –ups. Have little experience of dealing with formal financial institutions, with the exception of the National Bank of Agriculture and Rural Development (NABARD) Linkage Banking programme. Traditiona How to cite Channels of Distribution for Insurance Products, Essay examples

Research Proposal on Strengthening Program

Question: Discuss about the Research Proposal on Strengthening Program. Answer: Introduction: A recent survey by the National Cancer Registry of Malaysia revealed that almost 100,000 people are living with cancer (Lerman et al., 2012). Longer existence and increasing population contribute to an increase rate of cancer, where almost 10% occurs in children, 35% in women and 50% in men (Farooqui et al., 2012). Effectiveness of the cancer treatments depend upon the intensity of the damage caused to the patients health, gender, age and other associated factors (Rufa'i et al., 2016). So, treatment for one individual might not be effective for another with same type of condition. This further indicates a need to tailor disease-specific and patient-specific needs to optimize outcomes, adherence and behavioral changes among cancer patients and survivors. Application of behavioral change theories is especially useful in understanding physical activities in different cancer survivor groups. However, Siegel et al., (2012) stated that exercise after or during cancer treatment developed ri sk factors related to cancer diagnosis. In spite of the known advantages of the physical activities, exercise rate may drastically decrease during the treatment and may remain low after completion of the treatment, which leads to inactive lifestyle. Alternatively, Blaney et al., (2013) demonstrated that majority of the cancer survivors are motivated with exercise advice and show more interest in taking part in various exercise programs. Rajotte et al., (2012) in this regard have mentioned that cancer survivors feel confused to initiate a training program without structured intervention. Rufa'i et al. (2016) demonstrated that taking part in physical programs has positive effect on overall quality of life and health, while, physical inactivity is related with poor prognosis among the cancer survivors. Despite health-enhancing advantages of physical activities, the Malaysian cancer survivors are physically inactive. This indicates that intervention, which is tailored towards current ph ysical activities, is more extensively accepted. Majorly, breast cancer, lung cancer, cervical cancer colorectal cancer and nasopharyngeal cancer are prevalent within the population. It is emerging as a major cause of death because of avoidable life-style risk factors, for instance: exposure to smoke, alcohol, poor diet, overweight and inadequate exercise (Brown et al., 2012). This has attracted focus of the health care authorities worldwide for the development in early finding and treatment, which would result in better survival rate for the cancer affected individuals. Therefore, initiatives like strengthening program and physical wellbeing intervention for cancer survivors are highly significant. Statement of Problem Physical activities provide various health related benefits to the cancer survivors during and after treatment, irrespective of the gender. Persistent fatigue, cognitive impairment and physical de-conditioning are reported by the cancer survivors. Lee et al., (2013) demonstrated incidences of elevated body fat, hyperlipidemia, reduced functioning of musculoskeletal system, emotional distress and poor aerobic performance among the survivors. There are literature that explored the significance of light physical activities for the cancer survivors, however, major gap exists that fails to establish a strong connection between psychological and physical benefits of exercise programs among the cancer survivors (Loh Musa, 2015; Selamat et al., 2014). This indicates a need to focus on strengthening programs that would improve aerobic performance, functioning of musculoskeletal system, eliminate emotional stress and improve cognition within this community. Nevertheless, evidence showed that strengthening program includes yoga practices, sequential postures, breathing exercise and meditations that promote patients overall wellness by applying mind and body association and reduce stress (Player et al., 2014). Some study showed efficacies of light exercise among cancer survivors but in elderly individuals and not in young population (Rajotte et al. 2012). Research Objective To investigate the effect of pilate exercise on cognition And physical functioning of the female cancer survivors To carry out a systematic review to understand the best non pharmacological intervention for cancer patients To understand rate of adherence to physical strengthening programs Research Methodology 25 cancer survivors and 5students, who are fulfilling the exclusion and inclusion criteria of the present research, would be recruited based on their doctors advice. Inclusion criteria would be female patients falling under the age group between 18-60years. Pregnant females, individual with functional immobility and dementia would be excluded from the present research. Informed consent would be obtained from the participants, which ensures that the research will be carried out under strict ethical consideration. The participants would be exposed to 3times weekly exercise for six months and provided with log books to monitor at home. Individual session duration will be for 30minutes. The practice would involve pilate exercise, relaxation and breathing. The participants will be provided with a set of questions on lifestyle history, cancer diagnosis history, related medical issues, treatment and personal background prior beginning the study. Cognition and physical functioning measures w ould be assessed thrice throughout the course: at the initial phase, after 3 and 6months. The tests would include primary measures: SUPPHand secondary measures: CBI B, physical- body composition (muscle vs. fat), endurance/stamina, better function like improved functioning better, improvement in sleep monitoring by sleep diary and diet improvement in terms of better nutrition monitoring by food diary. The measures would be analyzed using ANOVA. The calculation would consider 95% confidence level with 5% margin of error. The pilate practice would be correlated with the betterment of overall participants health. Health improvement in turn would make the patients feel motivated and reduce stress level. Significance of the Research As a prospective research, it looks at the consequences like effectiveness of the pilate exercise in improving the psychological and physical areas. Provides recommendation to the cancer survivors within the community and acts as a supportive document that pilate exercise, as a strengthening program would improve overall health of the cancer survivors. Teaches the community about physical core strengthening and endurance by providing lifestyle education for instance better nutrition, better sleep. Provides scope to carry out further research on non-pharmacological interventions to improve the wellbeing of cancer survivors, by focusing on specific types of cancer. References Blaney, J. M., Lowe?Strong, A., Rankin?Watt, J., Campbell, A., Gracey, J. H. (2013). Cancer survivors' exercise barriers, facilitators and preferences in the context of fatigue, quality of life and physical activity participation: a questionnairesurvey.Psycho?Oncology,22(1), 186-194. Brown, J. C., Huedo-Medina, T. B., Pescatello, L. S., Ryan, S. M., Pescatello, S. M., Moker, E., Johnson, B. T. (2012). The efficacy of exercise in reducing depressive symptoms among cancer survivors: a meta-analysis.PLoS One,7(1), e30955. Farooqui, M., Hassali, M. A., Knight, A., Shafie, A. A., Farooqui, M. A., Saleem, F., Aljadhey, H. (2012). Cross Sectional Assessment of Health Related Quality of Life (HRQoL) among patients with cancer in Malaysia.Asian Pacific journal of cancer prevention: APJCP,14(5), 3017-3021. Lee, D. H., Kim, J. Y., Lee, M. K., Lee, C., Min, J. H., Jeong, D. H., Jones, L. W. (2013). Effects of a 12-week home-based exercise program on the level of physical activity, insulin, and cytokines in colorectal cancer survivors: a pilot study.Supportive Care in Cancer,21(9), 2537-2545. Lerman, R., Jarski, R., Rea, H., Gellish, R., Vicini, F. (2012). Improving symptoms and quality of life of female cancer survivors: a randomized controlled study.Annals of surgical oncology,19(2), 373-378. Loh, S. Y., Musa, A. N. (2015). Methods to improve rehabilitation of patients following breast cancer surgery: a review of systematic reviews.Breast Cancer: Targets and Therapy,7, 81. Player, L., Mackenzie, L., Willis, K., Loh, S. Y. (2014). Women's experiences of cognitive changes or chemobrainfollowing treatment for breast cancer: A role for occupational therapy?.Australian occupational therapy journal,61(4), 230-240. Rajotte, E. J., Jean, C. Y., Baker, K. S., Gregerson, L., Leiserowitz, A., Syrjala, K. L. (2012). Community-based exercise program effectiveness and safety for cancer survivors.Journal of Cancer Survivorship,6(2), 219-228. Rufa'i, A. A., Muda, W. A. M. W., Yen, S. H., Shatar, A. K. A., Murali, B. V. K., Tan, S. W. (2016). Design of a randomised intervention study: the effect of dumbbell exercise therapy on physical activity and quality of life among breast cancer survivors in Malaysia.BMJ Global Health,1(1), e000015. Siegel, R., DeSantis, C., Virgo, K., Stein, K., Mariotto, A., Smith, T., Lin, C. (2012). Cancer treatment and survivorship statistics, 2012.CA: a cancer journal for clinicians,62(4), 220-241.

Slip Stitch Pass free essay sample

Phish. Many people have heard the name, but not the music. They recently released a live CD, Slip Stitch Pass, which contains a variety of flavors from the bands repertoire of songs. Many fans of the Grateful Dead, Dave Matthews Band, and Rusted Root are seen flocking to Phish concerts. The band consistently sells out at larger venues, like Madison Square Garden and Red Rocks in Colorado. Their songs are long, with some over 20 minutes. However, most are original with instrumental jams that change every time they are played. To capture the once-in-a-lifetime occurrence, many fans record the concert and trade the tapes with other fans. Their live CD was recorded in Germany in early 1997. The disc is over 72 minutes long, with only nine songs. Mikes Song is one of the stronger tunes and stretches to 15 minutes, but the band goes through several distinct sounds during it. Other songs that go through transformations include Weekapaug Groove, Taste, and Wolfmans Brother. We will write a custom essay sample on Slip Stitch Pass or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page There are also two cover songs on Slip Stitch and Pass. The first, Cities, by the Talking Heads, is a pretty much straight-forward cover, with hardly any changes except a small jam at the end. However, the other cover, Jesus Just Left Chicago, by ZZ Top, turns into a longer typical Phish jam, and is over ten minutes long. Phish best expresses itself on-stage, so their best work is on their live albums. This is a definite must-have for all of the Phishheads out there! .

Free Essays on Does Race Exist

Does Race Exist? In the NOVA article I read there were responses from two anthropologists, Dr Loring Brace of the University of Michigan and Dr. George Gill of the University of Wyoming, who both have different opinions on this very controversial topic. They both were interviewed by NOVA Online about their views on the existence of race. Although the two have many times had different radical view, they readily joined together with six other anthropologist file a suit against the federal government for the right to study â€Å"Kennewick Man†, a skeleton which has many clues that can see what humans looked li ke thousands of years ago. The process that scientists is called facial – reconstruction. This method uses the bone structure along with clay to mold the skull into a replica of a face. Two purposes that this method is used for includes identifying the recent dead so that they can be reunited with their kin, and then the other is to give the people of today a glimpse of what our ancestors might have appeared like in their lifetime. The proponent in this article, Dr Gill is one of the anthropologists who today believe that the human races are biologically valid and real. The other scientists that agree with Gill’s findings are sometimes confused and tend to lean towards the facts that on a blood level, Gill’s findings are inaccurate with similarities of some cultures as apposed to others that Gill claims are not at all similar. The blood resting of different cultures and ethnic backgrounds doesn’t support the biological real... Free Essays on Does Race Exist Free Essays on Does Race Exist Does Race Exist? In the NOVA article I read there were responses from two anthropologists, Dr Loring Brace of the University of Michigan and Dr. George Gill of the University of Wyoming, who both have different opinions on this very controversial topic. They both were interviewed by NOVA Online about their views on the existence of race. Although the two have many times had different radical view, they readily joined together with six other anthropologist file a suit against the federal government for the right to study â€Å"Kennewick Man†, a skeleton which has many clues that can see what humans looked li ke thousands of years ago. The process that scientists is called facial – reconstruction. This method uses the bone structure along with clay to mold the skull into a replica of a face. Two purposes that this method is used for includes identifying the recent dead so that they can be reunited with their kin, and then the other is to give the people of today a glimpse of what our ancestors might have appeared like in their lifetime. The proponent in this article, Dr Gill is one of the anthropologists who today believe that the human races are biologically valid and real. The other scientists that agree with Gill’s findings are sometimes confused and tend to lean towards the facts that on a blood level, Gill’s findings are inaccurate with similarities of some cultures as apposed to others that Gill claims are not at all similar. The blood resting of different cultures and ethnic backgrounds doesn’t support the biological real...

Past Perfect Progressive Definition and Examples

Past Perfect Progressive Definition and Examples A verb construction (made up of had been a present participle) that points to an activity or situation that was ongoing in the past. Also known as past perfect continuous. Also see: AspectPast PerfectProgressive AspectPast Progressive Examples and Observations He knew that she had been dreaming that night and he knew what her dreams were about.(W. Somerset Maugham, Christmas Holiday, 1939)For an hour the old man had been seeing black spots before his eyes and the sweat salted his eyes and salted the cut over his eye and on his forehead.(Ernest Hemingway, The Old Man and the Sea, 1952)If she had been pretending, she would have hidden for a reasonable time before coming out and telling her story.(C.S. Lewis, The Lion, the Witch and the Wardrobe, 1950)I felt like an extraordinary hero. I was only five or six and I had the whole of life in my hands. Even if I had been driving the carriage of the sun I could not have felt any better.(Dario Fo)The jaws fell, the ears drooped more limply. He had been looking like a dead fish. He now looked like a deader fish, one of last years, cast up on some lonely beach and left there at the mercy of the wind and tides.(P.G. Wodehouse, Right Ho, Jeeves, 1934)I was sixteen years old and more, and I had not yet done anything the Grandfathers wanted me to do, but they had been helping me.(John G. Neihardt, Black Elk Speaks, 1932) Mr. Churchill was better than could be expected; and their first removal, on the departure of the funeral for Yorkshire, was to be to the house of a very old friend in Windsor, to whom Mr. Churchill had been promising a visit the last ten years.(Jane Austen, Emma)The past perfect progressive (had been -ing) tells us about the length of the action and the specific point when it ended. It occurs frequently with since or for to specify the duration of the action.(Ann Raimes, Exploring Through Writing. Cambridge University Press, 1998) Also Known As: past perfect continuous

Develop a personal view on what business ethics means Essay

Develop a personal view on what business ethics means - Essay Example In the case above, ethical values can be demonstrated where the law suggests that animals are to be given intrinsic value as well as their value of human welfare. It is therefore important to observe species such as the turtles which are known to be scarce thus should not be discriminated. Recent development in North American beaches has significantly reduced the existence of these species as that’s where they breed. Ethical dilemmas are a normal occurrence to many managers. Sea turtles in the US water have been an endangered species for a long time. Due to the growing number of endangered species in the US an act referred to as Endangered Species Act was passed in 1973. This was meant to protect the endangered and threatened animal and plant species. Turtle’s population in America has decreased in the past years as a result of many predisposing factors like beach development on their habitat, killing of females and taking away the eggs, leaking oil in the water basins, water pollution and extravagant fishing. Efforts have been set to protect the endangered species. These efforts include; after the female hatch, the eggs are taken to a protected marine environment where they would hatch, introduction of the TED, increase in the number of hatcheries and regulation of the inshore areas (Cruver 2002). Despite many challenges to save the turtle which included violence against the use of TED device, more efforts were put into place to enhance their sa fety. Anyone who violated the TED was fined depending on the circumstances. The TED device however faced many critics which followed with shrimpers protesting that they were forced to use TED. United States population consumes a lot of turtles and to save them they started importing from China and other countries where fishing of turtles is legal. Such kind of arguments showed that there was need for a law to protect the lives of sea animals and encourage them from reproduction. All

Assignments for Analyzing Warrants Coursework Example | Topics and Well Written Essays - 250 words

Assignments for Analyzing Warrants - Coursework Example In her passage, Katherine Butler Hathaway says that she could not risk showing to any man that it was possible for her to think and have love. By introducing the word â€Å"man†, she illustrations to whom are her fears directed to, thus the reason why she cannot take the risk (Putman 321). This concept brings on board the concept of time. Analogy relates and compares similar aspects or situations, given a condition or an occasion. Katherine Butler Hathaway uses the word â€Å"repeated† in her passage when she talks about her encounters with the mirror. She also uses the word â€Å"tendency† when she writes about her forgetting of things she had seen. Repeated and tendency offers a comparison at a point in time (Putman 335). Repeated in this case measures how much often she interacts with the mirror while tendency presents the frequency with which the author of the passage forgets the things she sees. Another warrant that the conclusion by the author is based on is the sign. The sign tries to assert the truth of the claim by pointing out to a thing or things that are actually linked to that truth that is said to support the claim. It is possible that normal people may not consider Katherine Butler Hathaway beautiful or worth to love due to her condition. Her condition here is the sign, and her experiences given her state is evidence enough to this claim. Statements by experts are also used to warrant claims. These statements are commonly known as expert testimonies. The statement, â€Å"I thought of sexual love as an honor that was too great and too beautiful for the body in which I was doomed to live" has been used to warrant the author’s claim in her conclusion about the relationship between love and beauty (Putman

Hardware Store Case Analysis Essay Example for Free

Hardware Store Case Analysis Essay This paperwork of BUS 680 Week 2 Hardware Store Case Analysis consists of: 1. Do you agree with Freds decision to use the 3rd supplier? Please explain your answer. 2. What else might Fred do before choosing a training package? Provide enough detail to demonstrate your understanding of the key issues and approaches to determining how to proceed once a triggering event has occurred. 3. If training went ahead as indicated, how successful do you think it would be? Explain your answer. Business General Business Hardware Store Case Analysis. Read the Case Analysis on pages 147-148 and answer the questions that follow. Listen to your parents if they have input as to what major you should decide on. They are older and wiser than you are, and you should respect their opinion, especially if they are helping pay for your college education. However, just listen. Only follow their advice if you know in your heart that is right for you. It is your degree, regardless of who pays for it. This paperwork of BUS 680 Week 2 Hardware Store Case Analysis consists of: 1. Do you agree with Freds decision to use the 3rd supplier? Please explain your answer. 2. What else might Fred do before choosing a training package? Provide enough detail to demonstrate your understanding of the key issues and approaches to determining how to proceed once a triggering event has occurred. 3. If training went ahead as indicated, how successful do you think it would be? Explain your answer. Business General Business Hardware Store Case Analysis. Read the Case Analysis on pages 147-148 and answer the questions that follow. Listen to your parents if they have input as to what major you should decide on. They are older and wiser than you are, and you should respect their opinion, especially if they are helping pay for your c Listen to your parents if they have input as to what major you should decide on. They are older and wiser than you are, and you should respect their opinion, especially if they are helping pay for your college education. However, just listen. Only follow their advice if you know in your heart that is right for you. It is your degree, regardless of who pays for it. Business General Business Hardware Store Case Analysis. Read the Case Analysis on pages 147-148 and answer the questions that follow.

Cybernetic Immunology :: Essays Papers

Cybernetic Immunology In the traditions of 'Western' science and politics--the tradition of racist, male-dominant capitalism; the tradition of progress; the tradition of the appropriation of nature as resource for the productions of culture; the tradition of reproduction of the self from the reflections of the other - the relation between organism and machine has been a border war. The stakes in the border war have been the territories of production, reproduction, and imagination. This chapter is an argument for pleasure in the confusion of boundaries and for responsibility in their construction. (Haraway 150) Cartesian circularities of self-identitical participants in a phallocratic order and ripples in a huge urban puddle renamed ‘lake’ from a fallen body, the machines may have already won. We know it was they who scorched the sky. Oshii Mamoru’s anime, turned American 1995 â€Å"Japanimation† classic, plays cyborg science fiction with flashing lights, outbursts of violence, and a plot fit for cyborgs to understand in a political world of simulations transferred without effluvia directly by air-port cybernetworking into unannounced awareness in each celluloid thin character, and on their demihuman coworker’s early 90’s military computer monitors. The narrative tries to entangle itself so thoroughly in a political rationality of an omnipresent culture of technicism devoid of scientific explanation on every green, glowing, digitally exported, and unrefined urban street corner that its revealing of the â€Å"real† puppetmaster/s uper-villain (a tool of someone still further up, â€Å"our heroes† presume) begs a sigh about technology coming to master itself without a care in the world for humanist restraint, much like the mostly good natured civilians who, it seems, don’t really mind an almost comically violent thug police presence that tears through their markets, melons, and minds chasing charlatans only it can see armed with overpowered bullets in outdated guns without any of the pleasant trappings of the polite police forces we imagine secure our very ability to sit in front of a glowing screen with electrically replicated pitches and decibels projected into right-angled chambers of passivity, and reflected in photons and waves to our media outlets - the doors of techno-perception. Calling Ghost â€Å"a film about† already misses that it is a film to as well. Mistaking cause for consequence, watching animated

Destination Disneyworld

Destination to Disneyworld Our family’s favorite tradition is summer vacation road trips. No doubt, our vacations turn out to be a success each and every year. Throughout my childhood and into my teenager years, we have gone from the beaches in Florida to the valleys in California. The most memorable one I could recall was our vacation to Disneyworld in Orlando, FL in 2004. I always have the notion as child that amusement park take your imagination to a new and entirely different level.On television commercials and billboard ads, it shows that Disneyworld is a destination where dreams come true and magic happen. It was a hot and humid day on the first week of June, my brothers and sister was so excited and anxious to see what this wonderful place has to offer. Every summer, my parent would take their hard earning saving from their account and treat my siblings to a vacation. It was a special time for my mom because it shows how important it is for our family to reunite with ea ch other.Although I was only ten at the time, I could remember all of my vacations like it all happen yesterday. Being so young and naive, all my mind could think was meeting Mickey Mouse, Donald Duck, and all the other characters. On our first day there, we visit the Magic Kingdom and Universal Studio and one word that comes to mind was magical. My parent turn back to when they were kids and the environment and atmosphere there was unbelievable.My brother and I were jumping up and down and doesn’t have the care for the world because we were having so much fun. Our next day there, my entire family rode the Splash Mountains and Tower of Terror which I was scared at the beginning but it ended up to be another ride I enjoyed. The laser light show was the most awesome thing I have seen, it was at least twenty minute of lights, lasers firework, animation, and dancing waters. The shows consisted of all of the Disney characters and with Mickey Mouse telling a stories with his magica l wand.The next morning, we spent the entire day at the MGM studios. This park was all movie themes which offers behind the glimpse of Hollywood style action with live shows, thrilling attractions, and backstage tours that are mainly dedicated to entertainment. On our last night there, I realized how amazing this place was and was in totally disbelief that it was almost time to go home. My family all thought every penny spent there was worthwhile and planning to visit it again once our families expand.

Historical Development of Nursing Timeline Essay

This paper discusses a timeline of the development of nursing science history starting with Florence Nightingale to present times. Florence Nightingale will always be associated with nursing, regardless how the field of nursing changes. Significant historical events to include dates which have enhanced the field of nursing will be discussed. Over the past century, the field of nursing has been positively impacted by numerous theories. (Kendall, 2011). Florence Nightingale, worked to improve conditions of soldiers in the Crimean War (1854), and she is known for laying the foundation for professional nursing (Kendall, 2011). Statistical charts and graphs were utilized by Florence Nightingale for the support of her theory as the first nursing theory (Donahue, 1996). For example, her theory related to a positive, clean environment. In 1859, Florence Nightingale published a small book called Notes on Nursing, relating to how to take care of babies (Florence Nightingale). Florence Nightingale was responsible for providing a new image for female nurses as a profession. She opened the Nightingale School of Nursing, the first formal nurse training program (Brestovansky, 2014). For example, the Nightingale Training School was opened in 1860, and modern nursing was created (Florence Nightingale). She also reformed midwife practices and established a health visitor service in Britain (Brestovansky, 2014). The 1950’s introduced theorists such as Orem and Peplau, and the existence of psychological theories entered during this century (Kiikkala and Munnukka, 2006). For example, the patient’s needs were a focus of the theories related to psychology. The self-care theory related to a goal of a person caring for themselves. And if they are not self-deficit, a nurse will be expected to care for the individual (Kiikkala and Munnukka, 2006). During this same period of the 1950’s, a developmental theory was developed that related to nursing and interpersonal relationships (Kiikkala and Munnukka, 2006). Peplau’s  theory regarded nursing as interpersonal because of a common goal between two or more people (2011). This common goal contributed to a mutual respect between the patient and nurse (Peplau, 2011). Nursing Theory Timelines (Development of Nursing, 2013). 1860- Florence Nightingale: Manipulating the client’s environment facilitates the body’s reparative processes. 1952- Hildegard Peplau: Nursing is a therapeutic interpersonal process. 1955- Henderson: The needs often called Henderson’s 14 basic needs. 1960- Faye Abdellah: The nursing theory describes delivering of nursing care for the whole person. It relates to the physical, emotional, intellectual, social, and spiritual needs of the client and family. 1962- Ida Orlando: The client is an individual that has a need. When met distress diminishes, adequacy increases, or enhances well-being. 1968- Dorothy Johnson’s theory of nursing focuses on the client’s adaption to illness. It also focuses on how actual or potential stress can affect the ability to adapt. The focus of the goal is on nursing to reduce stress. Therefore, the client can move more easily through recovery. 1970- Martha Rogers Theory: Health Promotion wellness, prevention of illness, and rehabilitation of the ill and disabled client through â€Å"humanistic science of nursing 1971-Dorothea Orem: The theory is about a self-care deficit theory. Nursing care becomes necessary when the client is unable to fulfill biological, psychological, developmental, or social needs. 1971- Imogene King: Communication can assist the individual reestablish positive adaptation to environment. 1972- Betty Neumann: The goal of system model of nursing practice is stress reduction . 1979- Roy Callista: The adaptation model is based on the physiological, psychological, sociological and dependence-independence adaptive modes. 1979- Watson’s Theory: Watson’s philosophy defines the outcome of nursing activity in regard to the; humanistic aspects of life. The 1990’s-2000’s consists of numerous research studies which test and e xpand nursing theory (History of Nursing Science, 2013). The late 20th century continued to expand research studies and nursing theories. Practice orientation was the focus in the late 20th century which continues today Nursing Science and Profession Relationship Nursing science and the profession have been seen as complex for  numerous years (Lindberg, 2005). According to Lindberg, the complexity of the healthcare system, increased technology, and the speed of care provided are contributors to the complexity of nursing science and the professional relationship. Science provides an increasing flow of contributions to the nursing care delivery which enhances the professional relationship (Lindberg, 2005). It is vital for nursing scholars and leaders to get involved in the new science for insights that will enable nurses to enhance the well-being of patients (Lindberg, 2005). For example, nurses play a central role in health care; a complex system, and they interact with numerous elements of the system. These elements involve patients, families, physicians, communities and public health agencies according to Lindberg (2005). Influences on Nursing Science of Other Disciplines The disciplines of philosophy, religion, education, anthropology, social sciences and psychology positively impact nursing (History of Nursing Science, 2013). According to The History of Nursing Science (2013), the individuals impacted by these disciplines are the ones who deliver nursing practice. Conclusion The roles of nurses continue to expand, and theories are used to improve quality of care. A time line of important events in the field of nursing which. has contributed to the profession has been discussed. Nursing is committed to serve the healthcare needs of society. Throughout history, nursing has shown the uniqueness of the profession. The nursing practice benefits daily from the interaction with other disciplines. Numerous positive outcomes have occurred throughout the decades with the use of theories for the enhancement of the quality of patient care. References Brestovansky, L (2014). A history in nursing. Retrieved from http://www.ehow.com/about_5364906_history-nursing.html Development of Nursing Theories (2013). Retrieved from http://www.currentnursing.com/nursing_theory/development_of_nursing_theories.html Donahue, P. A. (1996). Nursing: The Finest Art (2nd ed.). St. Louis: Mosby. Nightingale, F. Timeline part 2:1850-1901. Retrieved from http://www.countryjoe.com/nightingale/tl2.htm Kendall, C. (2010). Nursing history theory and timeline. Retrieved from http://www.careerpath360.com/index.php/nursing-history-theory-and-timeline- 10767/ Kiikkala PhD, I., & Munnukka PhD, T. (2006). Nursing Research: On What Basis? [Entire issue]. Journal of Advanced Nursing, 19(2). doi: 10.1111/j.1365- 2648.1994. tb01087.x Lindberg, C. (2005). Complexity: The science of the 21st century. Retrieved from https://stti.confex.com/stti/bcscience38/techprogram/paper_25908.htm Peplau, H. (2011). Theory of interpersonal relationships.. Retrieved from http://nursingtheories.weebly.com/hildegard-e-peplau.html The History of Nursing Theory (2013). Retrieved from http://prezi.com/nfrrptnxrczz/the-history-of-nursing-science/