Introduction
What is an Insurance?
According to the dictionary and different insurance policies, Insurance is defined as “an arrangement by which a company or the state undertakes to provide a guarantee of compensation for specified loss, damage, illness, or death in return for payment of a specified premium.” Thus, Insurance is a means of protection from financial loss. Insurance in short is a form of risk management, primarily used to hedge against the risk of a contingent or uncertain loss. The insurance provider is known as an insurer, insurance company, insurance carrier or underwriter. Insurance Awareness is an important section in several recruitment exams in India, primarily in the insurance sector.
Insurance Awareness Quiz 12 includes Questions and Answers related to the following topics: History of Insurance sectors in India, Insurance Organizations in India, Important Insurance Terms, Insurance Abbreviations & Insurance related information. Insurance Awareness Quiz 12 is extremely important for aspirants of Insurance related recruitment’s such as UIIC, OICL, LIC, HFL, AAO, etc.
Q1
What amount of accidental insurance cover that provided under Pradhan Mantri Jan Dhan Yojana?
- A. Rs. 30000
B. Rs. 10000
C. Rs. 100000
D. Rs. 200000
Pradhan Mantri Jan-Dhan Yojana (PMJDY) is National Mission for Financial Inclusion to ensure access to financial services, namely, Banking/ Savings & Deposit Accounts, Remittance, Credit, Insurance, Pension in an affordable manner.
The scheme provides accidental insurance cover of Rs. 2.00 Lakh and life cover of Rs. 30,000/- payable on the death of the beneficiary, subject to fulfillment of the eligibility condition.
Q2
HDFC ERGO General Insurance Company, announced a collaboration to co-create new _________ based solutions on IBM Cloud.
- A. Phygital
B. Cryptocurrency
C. Automation
D. Artificial Intelligence
IBM and HDFC ERGO General Insurance Company, India’s third largest non-life insurance provider in the private sector, announced a collaboration to co-create new Artificial Intelligence (AI) based solutions on IBM Cloud, that will redefine customer experience in India.
Q3
In Feb, 2019 MobiKWik partnered with _________ to roll out the microinsurance product that offers Rs. 1 Lakh for a premium of Rs.20.
- A. Bajaj Allianz LIC
B. Bharti AXA LIC
C. IDBI Federal LIC
D. ICICI Prudential LIC
MobiKwik has announced the launch of digital life insurance on its app to its users. MobiKwik partnered with ICICI Prudential to roll out first the group
micro insurance product. It offers a life cover of Rs. 1 Lakh for a monthly premium as low as Rs. 20.
Q4
‘Satellite Sampark’ offices are dedicated to which of the following insurance companies/banks?
- A. LIC of India
B. GIC of India
C. NIC
D. HDFC GIC
With a vision of providing easy access to its policyholders, Life Insurance Corporation of India launched its SATELLITE SAM PARK offices. The satellite offices are smaller, leaner and closer to the customer. The digitized records of the satellite offices will facilitate anywhere servicing and many other conveniences in the future.
Q5
In 2019 __________ was appointed new Secretary General of the General Insurance Council
- A. Usha Ananthasubramanian
B. MN Sarma
C. Alice Vaidyan
D. Sanjeev Srinivasan
MN Sarma, the former Chairman & Managing Director (MD) of United India Insurance will be the new Secretary General of the General Insurance Council. He will be supported by CR Vijayan, a former director of the GIC Re, who has been selected as the deputy Secretary General of the GI Council.