Reliance Nippon Life Insurance Consultant Trainer Interview Questions and Answers for Freshers

Bancassurance is a partnership between a bank and an insurance company to offer insurance products to bank customers.

• Bancassurance allows banks to offer insurance products to their customers, providing a one-stop-shop for financial services.

• The insurance products offered can include life insurance, health insurance, and general insurance such as home and auto insurance.

• Bancassurance can be beneficial for both the bank ...read more

Need analysis involves identifying gaps between current and desired states. HLV is calculated based on job requirements. Fact finding is gathering information.

• Need analysis involves identifying the gap between current and desired states, and determining the root cause of the gap.

• HLV (Hourly Learning Value) is calculated by dividing the total hours of training required by the job by the total number of hours worked in a...read more

HDFC has ventures in banking, insurance, asset management, real estate, education loans, and healthcare.

• HDFC Bank - banking services

• HDFC Life - life insurance

• HDFC ERGO - general insurance

• HDFC Asset Management - asset management services

• HDFC Realty - real estate services

• HDFC Credila - education loans

• HDFC Ergo Health - healthcare services

Solvency margin is the excess of assets over liabilities. HDFC Life's AUM is INR 1.5 trillion.

• Solvency margin is a measure of an insurance company's ability to meet its obligations to policyholders.

• It is calculated as the excess of assets over liabilities.

• HDFC Life's AUM (Assets Under Management) is INR 1.5 trillion as of March 2021.

• A higher solvency margin indicates a stronger financial position of the insurance compa

Utmost good faith is a principle in insurance contracts that requires both parties to act honestly and disclose all relevant information. Principle of contribution states that if a person is insured by multiple policies, each insurer will pay a proportionate amount of the claim.

• Utmost good faith requires both parties to act honestly and disclose all relevant information

• It applies to all types of insurance contracts

• If o...read more

Insurance pooling depends on the principles of risk sharing and spreading.

• Risk sharing: the cost of losses is shared among all members of the pool

• Risk spreading: the pool includes a large number of members to spread the risk

• Premiums are based on the expected losses of the pool

• The pool is managed by an insurer or a third-party administrator

• Examples: health insurance, auto insurance, property insurance