TASKSHEET Unit 3 Essay

TASKSHEET Unit 3 Essay TASKSHEET Unit 3 Essay UNIT 3 INTRODUCTION TO MARKETING BTEC NATIONAL MANDATORY UNIT Student name: _____________ Teacher: Ms. Lais Assignment start date: 4th September 2014 Assignment Deadline: - INTRODUCTION Marketing is at the heart of every organisation’s activity. Its importance is also growing in the non-commercial, public and voluntary sectors. Also, at the heart of marketing is the customer. This unit will introduce learners to some of the tools and techniques all types of organisations use to achieve their objectives. Firstly, learners will explore how different types of organisations use marketing principles to meet the needs of their customers and achieve their objectives. The constraints under which organisations operate are important and learners will study the legal requirements and voluntary codes that affect marketing. Learners will then go on to investigate how organisations collect data through market research and turn it into useful information which can be analysed and used to plan their marketing activities. The segmentation and targeting of groups of customers is a key marketing technique and this is studied in detail. This includes the different bases for segmentation of both consumer and business markets. Next, learners will examine how a marketing mix is developed to meet the needs and aspirations of a targeted group of prospective customers, before going on to develop a marketing mix for a new product or service. The unit gives a brief overview of the principles of marketing or can be used as a basis for further study of specialist marketing units. You will complete 4 separate assignments to complete this unit. You should attempt to provide evidence of understanding of all the unit content in your coursework. YOU MUST ENSURE EACH SET DEADLINE IS MET. Unit Content On completion of this unit a learner should produce evidence covering all of their learning outcomes. Learning Outcomes: 1 Know the role of marketing in organisations Role: overall concept; marketing definitions Objectives: private sector aims and objectives (survival, growth); public and voluntary sector aims and objectives (service provision, growth of range of provision, cost limitation, meeting quality standards); marketing objectives, eg market leadership, brand awareness, perceptions of customers or users; link between organisational objectives and marketing objectives Techniques: growth strategies (diversification, product development, market penetration or market development, Ansoff’s Matrix); survival strategies; branding (importance in influencing buyer behaviour, brand building, positioning, brand extension); relationship marketing (definition, difference between transactional marketing and relationship marketing, value of lifetime customer) Limitations and constraints: legal (Sale of Goods Act 1979, The Consumer Protection from Unfair Trading Regulations 2008, Consumer Credit Acts 1974 and 2006, Consumer Protection (Distance Selling) Regulations, Data Protection Act 1998); voluntary, eg Code of Advertising Practice and Advertising Standards Authority; pressure groups and consumerism; acceptable language 2 Be able to use marketing research and marketing planning Marketing research: qualitative; quantitative; primary internal/external research; secondary internal/external research; uses (reduce risk in decision making, measure progress over time); limitations (cost effectiveness, validity of data collected) Marketing planning: marketing planning process model (audit with PESTLE (political, economic, social, technological, legal and environmental external factors); SWOT (internal strengths and weaknesses, external opportunities and threats); set SMART (specific, measurable, achievable, resourced, time-bound) objectives; determine strategy and tactics, implement changes; evaluate) 3 Understand how and why customer groups are targeted Identifying customers in consumer markets: difference

Prices and Prizes

Prices and Prizes Prices and Prizes Prices and Prizes By Mark Nichol It may not surprise you that price and prize are cognates, but two other common words pertaining to value, and additional words derived from them, share their common ancestor. Price and prize stem from the Latin noun pretium, meaning â€Å"prize† or â€Å"reward,† or â€Å"value† or â€Å"worth.† Price is both a verb meaning â€Å"set value† and a noun meaning â€Å"value† (including a reference to something challenging or unpleasant that is nevertheless necessary as a condition of achieving a desired result). The adjective pricey means â€Å"expensive,† while priceless means not â€Å"without a price† but â€Å"valued beyond price† and refers to an object or an experience worth so much to a person or people in general because of aesthetic considerations or an emotional attachment that no monetary value can be assigned to it. To overprice is to place excessive value on something for sale, while to be priced out of a commodity is to be unable to afford it. A price tag is a piece of paper or other material attached to a product that indicates its monetary value. Something offered for half-price will be sold for half of its marked value. â€Å"Prix fixe,† adopted directly from French and meaning â€Å"fixed price,† describes a set meal offered by a restaurant at a specific cost, as opposed to multiple dishes available, according to a displayed menu, for various prices. To prize is to ascribe value, and a prize is something given in recognition of an achievement. As an adjective, prize means â€Å"worthy of a prize,† and prizeworthy itself is also an adjective. A prizefight is a professional boxing match, and a participant of such an event is a prizefighter, though these terms have largely been superseded by â€Å"boxing match† and boxer. The Latin forebear pretium was altered to precium, and being aware of this form makes it easier to connect precious, meaning â€Å"of great worth† (and often pertaining to aesthetic or emotional worth, as in ascribing value to time, rather than monetary value), to price and prize. Precious also has the sense of â€Å"esteemed,† in describing a cherished friend, though it also has a pejorative sense of â€Å"affected,† or â€Å"overly refined in manner.† The adjectival form is preciously, and the quality of being precious is preciousness. Praise, too, is derived from pretium by way of precium. That word, meaning â€Å"celebrate† or â€Å"commend,† or as a noun â€Å"commendation† or â€Å"worship† (or, less often, â€Å"merit† or â€Å"value†), is also the root of appraise, meaning â€Å"set a value on,† and the noun form appraisal. A praiseworthy act is one that merits commendation. To appreciate is to esteem or value, or to be conscious of, and an act of doing so is one of appreciation; the adjective appreciable means â€Å"able to be measured or perceived.† Depreciate, by contrast, means â€Å"lower in esteem or value†; in a taxation context, it refers to deducting a portion of the original cost of something as its value decreases with age and use. The verb deprecate, meaning â€Å"belittle,† â€Å"play down,† or â€Å"disapprove of,† is unrelated. (Its root word pertains to prayer; originally, to deprecate was to avert something undesired by praying.) Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Vocabulary category, check our popular posts, or choose a related post below:Addressing A Letter to Two People34 Writing Tips That Will Make You a Better WriterWhen Is a Question Not a Question?

Investment Banking ( calculation and short answer) Essay - 1

Investment Banking ( calculation and short answer) - Essay Example The accretion analysis provides an platform for evaluating control premium of purchasing the acquisition and hence its profitability. Further, accretion analysis is also triggered by the need to evaluate project earnings from for an acquisition. Intuitively, application of accretion analysis helps the acquirer to evaluate the effect of the acquisition on the expected earnings per share and hence the ability of the project to provide favorable earnings. In LBO, assuming the sponsor sells ValueCo at the end of year 5 at an exit multiple equal to its entry multiple, determine enterprise value and equity value at exit given the ending debt balances provided. Based on equity returns and leverage levels, LBO analysis helps in evaluating purchase price. Intuitively, the firm would have to calculate the maximum price that can yield enoughreturns and also cover the debt levels. In which case, the firm in questin will apply LBO analysis to determine a maximum price through the calculation of IRR. Consequently, this ensure that the expected equity returns from the investment is adequate and can cover administrative costs and expenses for the operations. A financial buyer can also use LBO analysis to serve in characterizing the leverage and equity at various prices available for the investment. The financial buyer would consider it suitable to choose a price that would readily yield expected returns on equity for the post-transataction. Further, evaluating the charateristics of the price also allows the buyer to make a decision that would increase the potential returns from the financial leverage of the same. In this case, IRR is an essential tool used in the analysis to depict the charactertisitcs of the various prices. In a case of absence of a strategic buyer for the transaction, LBO analysis proves essential in making LBO firms to be willing buyers. Through determining

What is IMF Essay Example | Topics and Well Written Essays - 1000 words

What is IMF - Essay Example Good governance is a set of principles that have been adopted by both the World Bank and the IMF to guide them and help them to achieve their objectives and goals in their member countries. The current scenario is that these organizations now are in the process of applying similar standards as the, good governance techniques to various other aspects of the institution, such as transparency and accountability. Other facets include fairness, impartiality, efficiency and ownership (Woods 2000). Though IMF itself is a vast topic, I would like to target solely the governance aspect of the organization. Only good and sound governance of an organization can result in the complete and adequate implementation of its policies. According to Beke (2002) the underlying rationale for governance in IMF is to eliminate corruption and to encourage transparency as well as accountability in all economic policies and issues of any given country. Since, 1997 the IMF has introduced methods to look after the resources of the organization so as to prevent laundering of monetary funds. In addition, means are also taken to track all sorts of expenditures specifically those on poverty related issues. Therefore, governance is required in all phases. Be it the way the money is lent or discharged to a country, in the implementation of certain economy related policies, or be it in within the IMF itself. Therefore, I would like to research all three of these aspects of governance in my study. There are practical reasons behind the adoption of the good governance criteria by the IMF. One of the foremost according to Woods (2000) is ownership and participation. The reason behind them is that these two means will increase the efficiency and effectiveness of IMF. It has also been stated that in the past any unpopular or unjust act of a country's government was blamed on IMF. Therefore, these policies also enhance the image of the government by stating that there is no imposition by the IMF upon any country to adopt its policy. Any country that does to take the advice of the IMF and follow its policies and guidelines does so of it's own accord. In the past, the IMF consisted of an enclosed group of policy makers, however, in recent years due to its good governance criteria the organization has opened-up. This induces the concept of transparency. The reason behind this is that when an organization in enclosed (in the form of financial institutions and governments only), transparency is difficult; thus, corruption prevails. In such a scenario bribery takes place and the government can easily deceive its citizens by putting the blame for economic upheaval on an institution such as the IMF. In order to prevent such dire situations from arising it is imperative that good governance policies (especially those that include transparency procedures and processes) are included. Research Methodology The research methodology will such that the background and scope of the paper will be given. The basic scope of this paper is that it will help future policy makers as well as researchers to further their studies. In the practical sense this

Information Technology In Insurance Industry Commerce Essay

Information Technology In Insurance Industry Commerce Essay Insurance in India can be traced back to the Vedas. For instance, yogakshema, the name of Life Insurance Corporation of Indias corporate headquarters, is derived from the Rig Veda. The term suggests that a form of community insurance was prevalent around 1000 BC and practiced by the Aryans. Burial societies of the kind found in ancient Rome were formed in the Buddhist period to help families build houses, protect widows and children. Bombay Mutual Assurance Society, the first Indian life assurance society, was formed in 1870. Other companies like Oriental, Bharat and Empire of India were also set up in the 1870-90s. It was during the swadeshi movement in the early 20th century that insurance witnessed a big boom in India with several more companies being set up. As these companies grew, the government began to exercise control on them. The Insurance Act was passed in 1912, followed by a detailed and amended Insurance Act of 1938 that looked into investments, expenditure and management of these companies funds. By the mid-1950s, there were around 170 insurance companies and 80 provident fund societies in the countrys life insurance scene. However, in the absence of regulatory systems, scams and irregularities were almost a way of life at most of these companies. As a result, the government decided nationalizes the life assurance business in India. The Life Insurance Corporation of India was set up in 1956 to take over around 250 life companies. HISTORY OF INDIAN INSURANCE MARKET Insurance has a long history in India. Life Insurance in its current form was introduced in 1818 when Oriental Life Insurance Company began its operations in India. General Insurance was however a comparatively late entrant in 1850 when Triton Insurance company set up its base in Kolkata. History of Insurance in India can be broadly bifurcated into three eras: a) Pre Nationalisation b) Nationalisation and c) Post Nationalisation. Life Insurance was the first to be nationalized in 1956. Life Insurance Corporation of India was formed by consolidating the operations of various insurance companies. General Insurance followed suit and was nationalized in 1973. General Insurance Corporation of India was set up as the controlling body with New India, United India, National and Oriental as its subsidiaries. The process of opening up the insurance sector was initiated against the background of Economic Reform process which commenced from 1991. For this purpose Malhotra Committee was formed du ring this year who submitted their report in 1994 and Insurance Regulatory Development Act (IRDA) was passed in 1999. Resultantly Indian Insurance was opened for private companies and Private Insurance Company effectively started operations from 2001. PRESENT SCENARIO OF INSURANCE INDUSTRY    India with about 200 million middle class household shows a huge untapped potential for players in the insurance industry. Saturation of markets in many developed economies has made the Indian market even more attractive for global insurance majors. The insurance sector in India has come to a position of very high potential and competitiveness in the market.   Indians, have always seen life insurance as a tax saving device, are now suddenly turning to the private sector that are providing them new products and variety for their choice. Consumers remain the most important centre of the insurance sector. After the entry of the foreign players the industry is seeing a lot of competition and thus improvement of the customer service in the industry. Computerisation of operations and updating of technology has become imperative in the current scenario. Foreign players are bringing in international best practices in service through use of latest technologies The insurance agents still remain the main source through which insurance products are sold. The concept is very well established in the country like India but still the increasing use of other sources is imperative. At present the distribution channels that are available in the market are listed below. Direct selling Corporate agents Group selling Brokers and cooperative societies Banc assurance Customers have tremendous choice from a large variety of products from pure term (risk) insurance to unit-linked investment products. Customers are offered unbundled products with a variety of benefits as riders from which they can choose. More customers are buying products and services based on their true needs and not just traditional money back policies, which is not considered very appropriate for long-term protection and savings. There is lots of saving and investment plans in the market. However, there are still some key new products yet to be introduced e.g. health products.    The rural consumer is now exhibiting an increasing propensity for insurance products. A research conducted exhibited that the rural consumers are willing to dole out anything between Rs.3,500 and Rs.2,900 as premium each year. In the insurance the awareness level for life insurance is the highest in rural India, but the consumers are also aware about motor, accidents and cattle insurance. In a study conducted by MART the results showed that nearly one third said that they had purchased some kind of insurance with the maximum penetration skewed in favor of life insurance. The study also pointed out the private companies have huge task to play in creating awareness and credibility among the rural populace. The perceived benefits of buying a life policy range from security of income bulk return in future, daughters marriage, childrens education and good return on savings, in that order, the study adds. FEATURES OF INSURANCE INDUSTRY Insurance Policy India provides the clients with the details required for the coverage in the policy, date of commencement of the policy and their adopting organizations. It plays a important role in the Indian insurance sector. The Insurance Policy India is regulated by certain acts like the Insurance Act (1938), the Life Insurance Corporation Act(1956), General Insurance Business Nationalization) Act(1972), Insurance Regulatory and Development Authority IRDA) Act(1999). The insurance policy determines the covers against risks, sometime opens investment options with insurance companies setting high returns and also informs about the tax benefits like the LIC in India. There are two types of insurance covers: 1. Life insurance 2. General insurance Life insurance this sector deals with the risks and the accidents affecting the life of the customer. Alongside, this insurance policy also offers tax planning and investment returns. There are various types of life Insurance Policy India: Endowment Policy Whole Life Policy Term Life Policy Money-back Policy Joint Life Policy Group Insurance Policy General Insurance this sector covers almost everything related to property, vehicle, cash, household goods, health and also ones liability towards others. The major segments covered under general Insurance Policy India are: Home Insurance Health Insurance Motor Insurance Travel Insurance NAME OF THE PLAYER MARKET SHARE (%) Name of the Player Market share (%) LIFE INSURANCE CORPORATION OF INDIA 82.3 ICICI PRUDENTIAL 5.63 BIRLA SUN LIFE 2.56 BAJAJ ALLIANZ 2.03 SBI LIFE INSURANCE 1.80 HDFC STANDARD 1.36 TATA AIG 1.29 MAX NEW YARK 0.90 AVIVA 0.79 OM KOTAK MAHINDRA 0.51 ING VYSYA 0.37 MET LIFE 0.21 SWOT ANALYSIS Strength Risk protection is provided by this sector only. Insurance having currently good market. Tax exemption. The variety of products is increasing. Insurance to build close relationship with customers. Good amount of RD into insurance 200 million households waiting for householders insurance Weakness Unable to convenience the people about the products. Insurance companies instability Limited working capital Products or services similar to competitors. Higher tax nets for the middle class Opportunities Technology is improving paperless transaction are available. Busy life, customer need flexible and customizable policies. Like mobile banking mobile insurance could be a hit. New innovations in technology-measuring weather variables. Threats Weather cycles. New substitute product emerging. Increasing expenses and lower profit margins with hard on the smaller agencies and insurance companies. Government regulations on issues like health care terrorism can quickly change the direction on insurance. USE OF INRORMATION TECHNOLOGY IN INSURANCE INDUSTRY The present scenario is such that the products sold with the help of Internet. The technological advancement is such that force the companies to take such steps. Still the full-fledged use of Internet is not done in our country. As suggestion earlier the Internet based life insurance will help the companies to reduce the transaction cost and time. At the time it can improve the quality of service to its customers, which is the mission of the company. Internet can be an effective medium for educating the consumers about insurance. It serves as a single window for disseminating product, process and procedural information to the consumers. Product development and target marketing through the Internet: with increase in the number of insurance companies there will be a need for market segmentation and subsequently product designed for each of them. In such a scenario Internet can be a effective channel for pushing product specific information to a particular market segment. Consumer feedback about a particular product as well as suggestions for different types or covers can also be generated through the Internet 1. E-business insurance in India: The Internet has played a vital role in transforming the business of the 21st century. Computers are now being used extensively for creating a storing data, information with the help of complex and sophisticated technological tools in every kind of business. This change having been widely accepted, the advantages are numerous such as fast processing improved. Efficiency, cost reduction among several other benefits. 2. Maintaining the database:- The most important factor that is affecting the insurance industry is the marinating the database of the customers. The insurance industry having a huge list of the customers. In order to maintain it in manual format it is really the work of stupidity. With the change in time the computers has taken the work of this things. Thus with the development of the technology it has becoming possible to maintain such huge database very easily. A person can switch over to the computer and get the details of the customer very easily. Thus maintaining the database has really become easy due to the development in technology. 3. E-Commerce in the Indian Insurance Industry With the advent of the Internet, online processes are replacing conventional models in our society. The greatest impact in online technology has been achieved by e-commerce. E-commerce is attractive both to buyers and sellers as it reduces search costs for buyers and insventory costs for sellers. In this paper we investigate the impact of e-commerce on the insurance industry in India. The recent growth of Internet infrastructure and introduction of economic reforms in the insurance sector have opened up the monopolistic Indian insurance market to competition from foreign alliances. We study the evolving scenario in the insurance industry in India and identify the features of online insurance that improve the conventional insurance model and thus, makes it more attractive for the Indian insurance industry to go online. TECHNOLOGY TREND IN INSURANCE MARKET Computerization: Initially, in the late 1950s the insurance companies used Unit Record Machines (Electro Magnetic Machines) to process data punched into cards. Computers were introduces in the mid 1960s and by the 1980s the Unit Phased Machines were phased out and the entire process was computerized. This brought about greater efficiency and quick service delivery Internet: Today, the internet has completely changed the service delivery process. Internet is today used to even sell insurance policies. Internet is, in fact, proving to be one of the widely used distribution networks for selling insurance policies. Also internet is used for sending premium notices to policy holders through e-mails Companies like LIC (www.licindia.com), ICICI (www.iciciprudential.com) all have websites from which people can get the information about their products, prices, various schemes, and lots of other information. People can also purchase the product through this website. Electronic Clearance Service (ECS): Almost all the big organizations today provide the ECS facility to its customers. A policy holder having an account in any bank which is a member of the local clearing house can opt for ECS debit to pay premiums. The advantage here is that once the option is exercised, the policy holder need not visit a branch for paying the premium or collecting the receipts. On the day indicated by the policy holder, the premium amount will be directly debited to the bank account of the policyholder and the receipt will be issued by the designated branch office. Call Centres and SMS services: Almost all the insurance companies have their own call centres which cater to the phone based queries of the policyholders. This service is 247 and they have the Interactive Voice Response (IVR) systems at all the branches INFORMATION TECHNOLOGY INTRODUCED IN LIC LIC has been one of the pioneering organizations in India who introduced the leverage of Information Technology in servicing and in their business. Data pertaining to almost 10 crores policies is being held on computers in LIC. We have gone in for relevant and appropriate technology over the years. 1964 saw the introduction of computers in LIC. Unit Record Machines introduced in late 1950s were phased out in 1980s and replaced by Microprocessors based computers in Branch and Divisional Offices for Back Office Computerization. Standardization of Hardware and Software commenced in 1990s. Standard Computer Packages were developed and implemented for Ordinary and Salary Savings Scheme (SSS) Policies. INSURANCE SOFTWARE The online Insurance Management System Software solution is a fully automated and integrated policy processing system for both personal and commercial insurance carriers. It is a scalable, reliable, and cost-effective solution for carrying out all business-critical insurance processing functions Insurance Software Solutions provider for all segments of the insurance community and insurance product management. The web based Insurance Management System Software solution helps to solve long-standing time-to-market challenges. The web based insurance management system expertise and solution can dramatically lessen the cost of policy ownership services. DIFFERENT TYPES OF INSURANCE SOFTWARE Insurance Policy Administration System Insurance policy administration system consists of a mathematical notation that captures the relationship between policies and objects and the entities that manage policies for those objects. The Insurance policy administration system is consisting of a number of policy administration domains. The domains are arranged in a hierarchy, representing descending levels of authority. Claims Management Systems This system ensures claims are processed fast and efficiently. Operator flexibility is the key, and we aim to improver operator productivity while processing claims. Real-time status for quick resubmission and faster reimbursements. Unique claim aging tool shows thousands of claims status in one view. Insurance Claims System uses electronic filing system to primary and secondary payers. Each claim is scrubbed with up-to- date Medicare rules. This Claim Processing System helps in quick resubmission for claim Insurance Agency Management System Insurance Agency Management System facilitates an insurance companys ability to address relationships with its product distribution channels. This system helps in managing current Agencies, can add New Agencies or Delete Current Agencies. Insurance Agency Management System is the solution that delivers to manage and grow your insurance agency to assist day-to-day management of your agency. Agency management utilized for small business, individual or enterprise business Insurance Agent Management System Insurance Agent Management System maintains Multiple Agents from Multiple Agencies, keep the track of their activities from Policy Registration to Claim processing. All their data, their commission, their policies status updates, etc. are taken care by this module. This Insurance system helps in smooth functioning of the Agents working and makes the processes faster and efficient. Policy Management System Policy registration is intended to be a vehicle for the exploration and discussion of policy issues and is aimed in particular at enhancing communication between health policy researchers, legislators, decision-makers, and professionals concerned with developing, implementing, and analyzing health policy. Policy renewals and policy cancellation can be managed by the insurance policy management system User Management System A new user registers by filling in a form on your web-site. If necessary, the new user is first place in a waiting list until you approve the new user. After adding the user, the user can login to the system with his or her username and password to make changes. You can use overviews of users for mailing purposes etc.. User Management System manages all the users of the system i.e. Customer, Administrator or Agents. It keeps the track of thee the activities they performs, their data, their access information, etc. Endorsements Management System Endorsements to a title insurance policy are addenda or attachments to the policy that may correct or modify a previously issued title policy, or alter or modify the provisions of the exceptions, conditions and stipulations of the title policy so that the insured party receives greater coverage than would exist under the terms of the unendorsed title policy. Data import / Export system It handles large amounts of data to import and export it securely. It does processing and management of large and sensitive data compression/decompression and/or encryption/decryption allowing the exchange of data through the network with high performance and stability, exchange of data among Web server(s), business application server(s) and database server(s) and account information including user passwords Policy Registration and Quotations Engine Policy registration is intended to be a vehicle for the exploration and discussion of policy issues and is aimed in particular at enhancing communication between policy researchers, legislators, decision-makers, and professionals concerned with developing, implementing, and analyzing health policy. Policy quotations engine is an on demand quotation management feature coupled with detailed profit optimization and approval management engines. With quotation engine you can automate the sales and services processes that are currently being done using a hybrid of spreadsheets, documents and emails with little to no process control. When you have completed your quotation you can use the engine to seek approvals for non- standard pricing and/or terms and conditions. Discounts and loading management. Insurance Administration Management System Insurance Administration Management system can manage multiple administrators and can have the track of the right assigned to them. It takes care that all the Administrators function with the system as per the rights assigned to them ad they can get their work done in efficient manner. Customizable and strong administration system. Insurance Sales Management can be managed by insurance sales system. Content Management System Module Content Management System is used for managing the capture, storage, security, revision control, retrieval, distribution, preservation and destruction of documents and content. Content Management System especially concerns content imported into or generated from within an organization in the course of its operation, and includes the control of access to this content from outside of the organizations processes. Insurance Document Management System Its important to maintain documents so that you can get to them faster, and easily. Even IT offers document management solutions for easy maintenance of your policies, endorsements, quotes, binders and the like. You can design your templates in common word processing tools, and the document management system will integrate and process these templates to generate and maintain documents. The documents can be retrieved at any time and are indexed in a database for quick searches. Insurance Document Management System is a secure file upload management system with built-in audit tracking, and is a plug-in extension to the Power Central Portal. This System will maintain the generation of the various reports which will be provided to the users as per the requirement. The reports like Modification Report, Policy Management Report, Payments Received Report, Agent commission report, etc. Insurance Accounting and Automation Insurance accounting is quite a complicated task, given the fact that there are so many issues with regulation, taxes, filing, commissions, brokers/underwriters, endorsements etc. We can build applications of insurance accounting systems and insurance billing systems that automate part of this task for you and help build better and more flexible solutions. Workflow solutions Workflow solutions that will ease the task of issuing claims, policies, reimbursements, payments etc. You can enforce hierarchical constraints and automate workflow, thereby ensuring that all your checks and balances are in place. Auditing Insurance is a highly regulated industry, so audit controls are very important. For this purpose, Radix can write audit control solutions customized to your purpose that will help you track and control business issues within your organization Business Intelligence Reporting and charting solutions that will make sense of your data. We can help you analyze your past data for better decision-making and help you make more informed decisions. Online Data Back-up System Online Back-up System is used to have the backed of the data on another server so that in case Original Data get Damage, Lost, etc. then the data is available for work. This system helps in the Real Time Data Backup and maintains the data for the future purpose. It also facilities the data back-up at other Geographical location. The benefit of Online Insurance Management System Online Back-up System is used to have the backed of the data on another server so that in case Original Data get Damage, Lost, etc. then the data is available for work. This system helps in the Real Time Data Backup and maintains the data for the future purpose. It also facilities the data back-up at other Geographical location The benefit of Online Insurance Management System Radix is the right technology choice for the vast majority of insurance-selling organizations on line. We have been closely associated with leading insurance players. Radix is essential for successfully managing and growing your business. Our web based insurance management system can manage your insurance business perfectly. Our solution focus is on the following benefits. Compliance Speed- to-market Cost reduction Web-enablement Consolidation Integration Business process flexibility REFRENCES:- WEB SITES www.licindia.com www.google.co.in/indian insurance industry www.irdaindia.org www.equitymaster.com MAGZINES Life insurance vol 1 ICFAI PRESS 2002 Life insurance vol 2 ICFAI PRESS 2002 Insurance industry Emerging Trends ICFAI PRESS 2002 Insurance law and regulation vol 1ICFAI PRESS 2002 NEWSPAPER Economic times Times of India Business standard BOOKS Life-Insurance , by Mc GILL Insurance Industry by ICFAI Publication Insurance in India

The Star Spangled Banner

English 101 November 21, 2012 The Star Spangled Banner The Star Spangled Banner is a very powerful and moving song that not only defines our country as a free and independent nation, but it also presents us with the struggles we went through to become who we are. The Star Spangled Banner originated as the poem â€Å"Defense of Fort McHenry† in 1814 by Frances Scott Key. The national anthem was not written during the American Revolution, contrary to popular belief. It was, in fact, written in the War of 1812. Although the poem has four unique stanzas, we normally only recognize the first one, and sometimes the second stanza as well.Our anthem, regardless of its patriotic values, is a great example of rich English literature that symbolizes our people even after 200 years. But, in reality, the song has a wide variety of meanings and interpretations deeply embedded in the historical significance it represents. The first line of the song reads, â€Å"O say can you see by the dawn ’s early light? What so proudly we hailed at the twilight’s last gleaming? † Translated in to today’s contemporary language, this means, â€Å"hey there, can you see by morning what was there before the sun set yesterday evening? Frances Scott Key introduces the topic of this song by grabbing the reader’s attention. This first line of the song makes readers wonder what Key is referring to, making them want to read the poem on further. When Key mention’s the â€Å"dawn’s early light† he is referring to an early morning; a new day and a new beginning. The â€Å"twilight’s last gleaming† suggests a very special time of day; right before the sun is setting and there is a tiny streak of light that appears in the sky. These two verses show a lot of symbolism.Once again, we must use the historical context of this poem to make meaning of the lyrics. The War of 1812 was a war fought by the British and Americans. Key was on a British ship when he wrote this poem, negotiating with the officers to release some of the American hostages. He was watching the battle of Fort McHenry in Baltimore. The battle took place in the late evening, when the American flag was still up and flying. In these lines, Key is asking himself, â€Å"Will the flag still be up tomorrow morning? † The twilight’s last gleaming could represent hope.Key still has faith and trust in his country. Even in the midst of a bloodthirsty battle, Key hoped that he would see the American flag the next morning. He hoped he would see a sign of perseverance and strength instead of weak downfall. He wanted his country to reign through the peril it oversaw. If the American flag was still not up by â€Å"the dawn’s early light†, it would signify defeat the British. The second two lines of the Star Spangled Banner places emphasis on the American flag. Today, our flag is commonly referred to as the stars and stripes.Key not iced these two distinct features and decided to define the American flag by â€Å"the stars and stripes†. History has it that there were two flags that were flown over Fort McHenry, one of them being a â€Å"storm flag†. This was the flag that was flown during the rainy day and the â€Å"perilous night† and the flag that was described in the first part of The Star Spangled Banner. This line reflects the determination of the American army. The flag is a key symbol of our nation. Key cleverly used this patriotic symbol to show how persistent our soldiers were; they kept fighting through the sanguine fighting of the night.When Key woke up by morning, a new flag was hoisted up, apart from the storm flag that he saw the previous night. Fort McHenry was proudly flying its much larger â€Å"garrison flag†. This flag measured 30 ft. by 42 ft. , larger than a modern day school bus. Key believed this was the same flag that was flown the previous night, when the Bri tish had attacked. Regardless of whether it was the storm flag or not, the sight of the American flag flying over the fort after a gory battle gave hope and confidence to its citizens.It once again stated the power of America as a powerful independent nation. The flag indirectly told the world to never underestimate the potential of America. The third line of the poem is very awkwardly phrased and positioned, once again reflecting the time period Key wrote the poem. â€Å"O’er the ramparts we watched, were so gallantly streaming† is referring to the previous line. Ramparts are protective walls. In this context, Key is referring to the walls of Fort McHenry. He very cleverly uses the word â€Å"ramparts† to describe the walls.The ramparts were built in 1776 to protect the city of Baltimore in case the British tried to attack through the Chesapeake Bay. After the War of 1812 was brought to attention, a local committee raised over $400,000 to strengthen the walls t o protect the citizens in case of an unexpected British attack. The word rampart suggests that the citizens were able to watch the battle with a sense of security as the soldiers risked their lives for their country. It solidifies the expression of sacrifice. Over the whole scene, Key once again mentions the American flag â€Å"gallantly streaming†.This gives the notion that this concept of sacrifice is very much American. It is an American soldier’s duty to lay his life down for his country. The next few lines start to intensely invoke emotions from the reader: â€Å"And the rocket’s red glare, the bombs bursting in air, gave proof through the night that our flag was still there† During the battle of Fort McHenry, the British had more than 15 battle ships, each armed with heavy artillery and one armed with a rocket launcher. Through the night, as the rockets were fired in to the air, they illuminated the sky with a bloody red glow.That red glow showed th e British where the American flag was so they would know where to aim. But, here comes the notion of good that comes out of evil. While the British threw the bombs in the air to destroy the flag, they ended up illuminating the flag, giving hope to all the patriotic soldiers to keep fighting. The motive of the British was to destroy the American flag, according to the poem by Frances Scott Key. The American flag was the symbol of America. It was the identity of the United States of America, because it represented the journey of America.The alternating 13 red and white stripes showed represented the moments of bloodshed and light in America. The fifty stars represent each of the strong independent states. By placing the stars in the same box, it shows unity among the various states. By destroying the flag, the British are stripping away the identity of the Americans. The final line of the first stanza summarizes the whole message of the song: â€Å"Oh, say that Star – Spangled Banner yet wave? O’er the land of the free and the home of the brave! † This line clearly states that the flag of the United States represents liberty and independence for all.As long as the flag shall wave, it will mark America as â€Å"the land of the free and the home of the brave†. Throughout the song, Key expresses a hero journey; a journey through hell and back in to the light. This is the story of Fort McHenry. The Americans were plunged in to a world of blood and gore. But the outcome of the battle was very significant. The American flag became a physical representation of good over evil. It was the marking of the victory of America, once again. The battle was a memory of the importance of our â€Å"Star- Spangled Banner†.

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