Risk Management Services as an offering is along with insurance products and solutions is relatively new to the Indian General Insurance industry. Risk Management has assumed importance with entry of private general insurance companies in the Indian market. Our company has been one of the pioneers in offering this service in the Indian Insurance Market to our Corporate Clientele.
The word ‘management’ can be defined in terms of organizing of activities and controlling the use of resources in such a manner as to achieve some desired objective. For an Industrial or commercial firm the objective may be to maximize profits, to increase revenue, to increase net worth or combination of different objectives.
Risk Management as a Subject concerned with the planning, arranging and controlling of activities and resources in order to minimize the impact of uncertain events. Risks arising out of uncertainty can be classified as production risks, marketing & distribution risks, financial risks, personnel risks and environmental risks.