...washing their data or products to make it seem like they are environmental friendly. Carbon Footprint In week four my team and I did research and had a discussion over a video we watched on the importance of measuring enterprise impact. “Green washing is a form of marketing spin in which green PR or green marketing is deceptively used to promote the perception that an organization's aims and policies are environmentally friendly. Whether it is to increase profits or gain political support, greenwashing may be used to manipulate popular opinion to support otherwise questionable aims.” (Grant, 2013) The first conclusions we came to was none of us knew that data usage could be bad for the environment and that many companies can claim they use less data. Any company can manipulate a data report or product packaging to meet the standards that are needed to increase profit or gain investors. “The same survey found that “80 percent [of consumers] would choose a product if its packaging featured specific data detailing, for instance, how much plastic was saved over an earlier version” (emphasis ours). That’s right, having specific environmental data...
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...+ = INSURANCE OVERVIEW Understanding Insurance INSURANCE LIFE GENERAL Insurance is a system to alleviate financial losses by transferring risk of loss from one entity to another. ‘Insurance’ is basically a sharing device. The losses to assets resulting from natural calamities like fire, flood, earthquake, accidents, etc. are met out of the common pool contributed by large number of persons who are exposed to similar risks. This contribution of many is used to pay the losses suffered by unfortunate few. However the basic principle is that loss should occur as a result of natural calamities or unexpected events which are beyond the human control. Secondly insured person should not make any gains out of insurance. It is natural to think of insurance of physical assets such as motor car insurance or fire insurance but often we forget that creator of all these assets is the human being whose efforts have gone a long way in building up the assets. In that sense, human life is a unique income generating assets. Unlike the physical assets, which decrease in value with passage...
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...The Germania Life Insurance Company survived the Civil War, World War 1 and 2, the depression, recessions, and more. The company has learned to grow and adapt to the many changes that it faced. In the first two years of its operation, the company had insurance agencies all across the US in states that included Colorado, the Dakotas, New Mexico, and Arizona. In 1868 they became the first US insurance company to open an office in Europe. However, with the changes in the business world brought about by World War 1, Germania discontinued doing business in Europe 1917. At the end of that same year their name changed to The Guardian Life Insurance Company of America. In 1911 they moved to Union Square in Manhattan and for 85 years this office would serve as the headquarters for Guardian. After the company saw many years of growth and expansion the decision was made to provide more regionalized home office functions. Therefore, in 1982 three branch offices were created in Pennsylvania, Wisconsin and Washington State. Guardian started out as a company that was based on mixed stocks and mutual but in 1925 they switched to a full mutual company. Therefore, there are no stockholders or private owners. Policyholders own Guardian and when the company experiences monetary growth; it is shared with the policyholders in the form of a dividend. Guardian has been paying dividends every year since its inception in 1868. Today Guardian, well known as a strong and stable company, has grown to become...
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...Insurance is something that every individual should have in one way or another. Insurance is a form of risk management where the insured party has the authority to transfer the cost of the potential loss from an incident to another party in exchange for a premium. A premium is a document detailing the terms and conditions of the insurance contract. Insurance companies issue policies that protect individuals, business and other parties from the risk of a loss. Some insurance policies are a requirement of some companies for their employees. However, many policies are purchased to make the policy-holder’s feel at ease. Whether its auto, medical, life, liability, disability, or any other form of insurance there are, having the right kind of insurance is an important factor of any great financial plan. There are many different types of policies that insurance companies offer such as auto insurance, motorcycle, ATV, umbrella, homeowner’s, renters, condo, co-op, RV, life, boat, personal watercraft, flood, mobile home, overseas, commercial auto, business, identity protection, snowmobile, collector car, and even pet insurance. There are also many different insurance companies out there who offer some, if not all, of those insurance policies. Three popular and widely known insurance companies are Allstate, Geico, and State Farm. Each of them have their own specific target markets and have to work each day to attract new and existing customers. The Allstate Corporation was founded...
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...leader in contract-based business process outsourcing services, has been successful in acquiring high-profile customers (e.g. Verizon, FedEx & Starbucks, among others) across a wide variety of industries. Despite Convergys’ impressive customer list, the company has seen its operating margin decrease about 20% over the past 5 years. Key decision makers within the company believe that this decline is due, at least in part, to issues relating to client retention and acquisition strategies. At present, Convergys classifies its customer accounts into 3 tiers: A, B & C. “A” customers are considered to be of highest value, followed by “B” and “C” customers. Although the idea of internally segmenting customers to most effectively allocate company resources (to maximize profit) is sound, the segmentation strategy ought to be well designed and it must incorporate metrics that reflect specific attributes of the industries being served, while at the same time aligning with Convergys’ overall philosophy and business objectives (such as growth, for example). As evidenced by the continuous decline in Convergys’ operating margins over the past 5 years, contrasted with the high quality service it provides and the growth of the specific companies and industries it services, it is apparent that Convergys’ approach to growth is not particularly effective. In this case analysis, we will provide recommendations on strategies Convergys could implement to better segment and service key customers,...
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...Insurance Matrix Type of Insurance Functions Example of Company Coverage Characteristics Auto The function of auto insurance is to protect drivers when they are involved in a collision or other type of incident such as fire, theft, or a natural disaster. The insurance company will pay the cost of repairing the vehicle or vehicles dependent upon which type of insurance the person at fault has purchased. Some types of insurance will also cover medical bills for injuries received as the result of an accident. State Farm Insurance Shelter Insurance USAA Allstate Insurance Geico Insurance Progressive Insurance AIG Insurance Medical payments Bodily injury Collision Comprehensive Uninsured motorist No fault Liability Underinsured motorist Towing Home Home insurance provides coverage for damage or destruction of the policyholder's home. It pays for damage by certain events such as fire, rain, wind, hail, or other natural occurrences. It can also cover losses due to theft or injuries on the property. Some areas have insurance specifically for earthquake or flood damage. State Farm Insurance AIG Insurance Allstate Insurance USAA Insurance Progressive Insurance Geico Insurance Farmer’s Insurance Liability Protection • Injuries and accidents • Lawsuits Personal Property Protection • Buildings and structures • Personal items • Living expenses Health Health insurance is purchased to pay expenses incurred as a result of an accident or illness. It covers...
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...Associate Level Material Appendix E Insurance Matrix |Type of Insurance |Functions |Example of Company |Coverage Characteristics | |Auto |To provide financial protection against physical |Nationwide, GEICO, State Farm, Progressive, Allstate, |Liability coverage pays for the legal responsibility | | |damage or bodily injury resulting from traffic |Amica. |to others for bodily injury or property damage. | | |collisions. | |Policies: (PAP) Individual coverage and family | | | | |automobile. (FAP) for several people in a family who | | | | |are driving the same car. | |Home |To cover the cost of re-building or fixing a home |Farmers, Allstate, Liberty Mutual. |Liability; responsibility for another person’s losses.| | |damage or destroy by fire, theft or other...
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...Top 10 Insurance Companies in India Author: Administrator Saved From: http://www.knowledgebase-script.com/demo/article-994.html The insurance sector in India has undergone a number of phases since its inception in 1818. The insurance sector gained real momentum in the last decade when the Indian government allowed private insurance companies to furnish insurance products. Moreover, India welcomed foreign direct investment up to 26% in the insurance sector and since then it has been booming, capturing every opportunity for growth. Top 10 Insurance Companies in India Here is the list of top 10 insurance companies in India. 1. Life Insurance Corporation of India (LIC) Selling Point: India's largest Insurance Company With estimated assets of Rs. 8 trillion (approximately $170 billion) and 2048 branches spread across India, LIC is not only the largest but the most popular life insurance company in India. Government-owned LIC still remains on the top even in the phase where there are many new players entering in the ring with customized insurance products. LIC has gained the consumer trust and credibility over the time that is essential to sustain in the insurance business. 2. Tata AIG Life Insurance Company Limited Selling Point: Insurance provider with the most reliable brand names Tata AIG offers a variety of insurance plans. The company has plans for everyone from children to students to corporate executives to senior citizens and it is the first private sector insurer...
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...Managerial Appls of Info Tech Table of Contents 1. Business problem statement 2. Company background 3. Discussion of business issues 4. Benefits of solving the problem 5. Business/technical approach 6. High level solution 7. References 1. Business problem statement Their mission is to provide financial security and insurance products and has a very important purpose, annuity and investment services for insurance products. Also to provide incentives for families and business owners to reach agreement to set appointments for financial services and several charities that with being a resource center of influence, and investigative units around them. 2. Company background Established in 1845 and located in New York, New York Life Insurance Company is a Fortune 100 company and is the oldest and one of the largest mutual life insurance companies in America. The New York Life maintains operations in all 50 states and many markets in Asia and Latin America. The Company holds the highest rating for financial strength from four major players in the industry life insurance rating. In 2010, New York Life Insurance Company posted record sales in the U.S. individual life insurance, an increase of 39% 1 in 2009 and far above the industry growth of 12% in 2010.2. The New York Life offers a large staff of experts to support all products and give them to personnel training for their first 36 months to guarantee they are fully informed of any decision...
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...Persuasive Speech Persuasive Speech Purpose: Explain to the class the dangers involved with texting while driving and persuade them to stop allowing their phone take their mind off the road using the Monroe’s Motivated Sequence. Body First and foremost, texting while driving has become such a big issue among teenagers. Texting, in general, has become the thing to do. Student’s text now more than they talk on the phone. DWT has become most common in kids. A study conducted by Nationwide Mutual Insurance that was released this year found that 19% of all drivers -- and 37% of drivers between the ages of 18 and 27 ---text message behind the wheel. Secondly, the importance of not texting while driving is obvious; we all want to make it to our destination safely. According to SADD (Students Against Destructive Decisions) and Liberty Mutual Insurance Group, instant and text messaging while driving leads the list as the biggest distraction while driving. The study, released in July 2007 and conducted with more than 900 teens from 26 high schools nationwide, revealed that text-messaging while driving is becoming as dangerous as drinking and driving, in terms of inhibiting a teen’s driving abilities. Yet even while 37 percent of teens rated text messaging while driving as “extremely” or “very” distracting, they continue to send and receive text messaging in their moving vehicles anyway...
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...Initiatives Page - Recommendations Page - References Executive Summary This paper is designed to explain the diversity audit on New York Life. They are a large organization that has been around since 1869. They have been a life insurance company that has survived through many tragedies. They claim to be a very diverse workplace. New York Life has established a diversity program that states “The New York Life Supplier Diversity Program is designed to ensure that diverse businesses have equal access to our procurement processes. Currently, the businesses we include as diverse suppliers are minority-owned, women-owned and Lesbian, Gay, Bisexual and Transgender (LGBT)-owned businesses. Our program has the enthusiastic support of our Chairman, President and CEO, Ted Mathas. Some of our current initiatives involve exploring innovative approaches to facilitate diverse business inclusion in non-traditional areas like management consultants and investment firms. We will continue to expand our customer base for diverse businesses and participate in activities that will introduce the company to new diverse suppliers. We are also encouraging our prime suppliers to subcontract with diverse businesses in the performance of our contracts.” They have many company functions that live up to their diversity program. Now I want to find out if they live up to these standards. Do they really follow what they claim? Also, how well does the program work? Organizational...
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...Insurance Ads: Transcending Stereotypes! Are insurance ads truly changing from being purveyors of death and destruction? Once upon a time, Indians were put off by insurance advertising, as gloomy visuals reminded them of the impending demise or accident of their loved ones. Those who did, insured themselves as a ‘savings’ mechanism, which would either help them in their old age or provide for the family in case of their untimely demise. The insurance agents were the perceived Yamdoots and life insurance policies, gloomy prophecies. Cut to 2006 and the insurance scenario in the country is anything but gloomy. Marked by the entry of private players’ post-2000, India’s insurance industry has moved into exciting and thrilling times. From being a state-owned white elephant, the insurance sector in the country now accounts for 10-15% of India’s total financial sector, where over a dozen Life Insurance and Non-Life Insurance Companies are fighting it out to woo the consumer. The opening up of the sector has lured many a foreign players into the market like Sun Life (Canada), Old Mutual (S. Africa), Prudential (UK), New York Life (USA) and others. The carrot of course, is the huge potential that the sector holds: Before 1991, life insurance penetration in India was less than 1%; during the 90s it was between 1-2%, while in 2003-04 (the last available figures), insurance penetration had crossed 2.4%. Apply that to a country of over a billion people and you realise why global...
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...Marketing Plan Written Project Geico Company A paper submitted to Webber International University in partial fulfillment for the Bachelor of Science degree in Sport Business Management By: Petr Doubravsky Date: April 16, 2014 Course: MKT - 250 Principles of Marketing Semester: Fall 2013 Instructor: Dr. John Schwarze GEICO, the Government Employees Insurance Company GEICO is the third-largest, private passenger auto insurer in the U.S., which provided coverage for more than 13 million motor vehicles owned by more than 12 million policy holders. GEICO has had consistent growth and success since its founding, but current competitors are copying their Web-based service, and humorous advertising because of their success. Target Market: Regardless of mood, status, income or location, various types of people drive and hopefully have insurance. Specifically, GEICO targets males and females ages 24-64, and appeals to customers with humor and wit. 4 P’s: Price: * The cheapest quote by far is $479 Beating for instance State Farm by $186 per 6 months. This follows anecdotal evidence that GEICO is pricing their insurance very aggressively for new customers. Place: * GEICO writes private passenger automobile insurance in all 50 U.S. states and the District of Columbia. * Has more than 23,000 associates in 12 major locations around the country * GEICO's assets have reached $28 billion, and the company looks forward to even more growth, founded on quality...
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...Computers entered into a five-year insurance contract with Tokyo AFM against earthquake damage to its headquarters building. As is customary, it paid the 100 million premiums for the five-year coverage up front in cash. Question: How would you recognize revenues associated with this type of catastrophe insurance contract? This case can be considered as premiums from short-duration insurance contracts, which are intended to cover expected claim costs resulting from insured events that occur during a fixed period of short duration. As of now the management is recognizing premium at the time it received policyholder’s up-front cash payment, but they should recognize the premium as earned revenue over time as the risk covered by the policy runs off. This is called a “deferral-matching approach”, as it attempts to defer recognition of any revenue or expense so that it can be matched with the timing of the incurred losses. Therefore, premiums from short-duration contracts are earned and recognized as earned revenue evenly as insurance protection is provided. In this case of Fuji computers the 100 million premiums being recognized as revenue evenly over the contract period of five years. I believe that up-front payment, are earned as services are delivered and/or performed over the term of the arrangement or the expected period of contract and premiums shall be recognized as earned revenue over the period of risk in proportion to the amount of insurance protection provided. 2...
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...text and answer Before You Go On p. 97 ■ p. 104 ■ p. 109 ■ p. 114 ■ ■ ■ ■ ■ ✓ Feature Story WHAT WAS YOUR PROFIT? The accuracy of the financial reporting system depends on answers to a few fundamental questions: At what point has revenue been earned? At what point is the earnings process complete? When have expenses really been incurred? During the 1990s’ boom in the stock prices of dot-com companies, many dot-coms earned most of their revenue from selling advertising space on their websites. To boost reported revenue, some dot-coms began swapping website ad space. Company A would put an ad for its website on company B’s website, and company B would put an ad for its website on company A’s website. No money changed hands, but each company recorded revenue (for the value of the space that it gave the other company on its site). This practice did little to boost net income, and it resulted in no additional cash flow—but it did boost reported revenue. Regulators eventually put an end to this misleading practice. 92 Another type of transgression results from companies recording revenues or expenses in the wrong year. In fact, shifting revenues and expenses is one of the most common abuses of financial accounting. Xerox,...
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