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in my opinion the fear factor has increased to larger fold rather than hazards or risk I give70 % increase in fear factor due to awareness and hardly50% increase in hazards and risk what demographs says ?
I see that the icreased awareness of the value of risk management is what makes insurance companies become project managers and richer. I think that they succeed only if they conclude to win-win risk mitigation plans. You might be able to see the return on the insurance company, but do you have a collective assessment of the return for thier customers in return.
I entirely believe in your statement. Hence in the Life Insurance industry there should be strong Government control to ensure that the premium is not unreasonably high. In India we have the Insurance regulatory and Development Act the IRDA. Also everything should not be left to foreign multinationals and there should be a strong domestic player. In India we have the LICI which is government owned and the biggest player in terms of number of people served.
