Principles of Insurance Exam Study Notes

Surveyor - For all claims exceeding Rs.50,000 in value, a report has to be obtained from licenced surveyor, Surveyor has to obtain licence from IRDA after clearing prescribed examination and undergoing practical training. Surveyors are categorised as A, B or C.
Third Party Administrator (TPA) - A TPA is a specialised service provider rendering various services related to health insurance, especially those relating to claims processing and settlement, Both the insured as well as the insurer benefit from the services of the TPA, TPA should meet eligibility in terms of share capital (Rs. 1 Crore), director qualification, officer training and passing the prescribed examination.
Medical Examiners - Examine and certify the health and insurability of the proposer, May be involved in underwriting as medical referees, Cases of doubt are referred to them for an opinion, In case of health insurance; advice may be sought to check if the claim being made is reasonable or not.
A Customer is a Person, who buys Goods or Services, that a Business has to offer. Types of Customers - Outside Customer, Internal Customer
Outside Customer - A person who buys goods or services that a business has to offer. These are people who are not a part of the business.

Licentiate Examination - IC 01 - Principles of Insurance Exam - Important Points