Risk Management Casse

ACKNOWLEDGEMENT:

In the first place, I would like to extend my infinite thanking to the Almighty Allah for His countless blessings.

Then, I sincerely thank my professors in CBA for saving no efforts in guiding my steps and paving the path of knowledge for me and for all the students as well.

A lot of people helped me in producing my report. Generally, I would like to extend my sincere thanks and gratitude to my parents and my family at home for their efforts in providing me with the suitable atmosphere to concentrate on my study.

Thank you all for your support.

ABSTRACT:

The business world is highly competitive. Corporations compete for profit every day, hoping to establish repeated business with the customers for many years. Risk management is the primary tool that companies use to increase their revenues, sales and profits. Risk management is the human activity which integrates recognition of risk, risk assessment, developing strategies to manage it, and mitigation of risk using managerial resources.

This report provides an insight and understanding into Alahli Takaful’s strategy to manage risks associated with corporate sales department and how to apply risk management concepts on the activities provided by NCB in order to achieve more profitability.

The problem of this report is that the insurance industry is over-saturated and all the agencies and agents are spying on each other. They want to copy what the other agent is doing. This is a formula for disaster because what happens is everyone starts using the same kinds of insurance sales strategies which weakens response and confuses the consumer. Therefore, the question is how NCB is going to have strategies for risk management in relation to corporate sales department.

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