CHAPTER I
CURRENT SITUATION
1.1 Corporate information:
“Al Bader Insurance Company is a newly established insurance service provider in the Kingdom of Bahrain.
Location:
“The company will have its main offices in Muharraq area in the Kingdom of Bahrain. The facilities include office spaces, conference rooms, and a phone center. The reason we chose this area is because Muharraq is Bahrain's third largest city and served as its capital until 1923 when it was replaced by Manama. Bahrain International Airport is also located on the island. The company expects to begin offering its services in January 2014”.
1.2 Vision & Mission:
Our mission:
“To establish a successful partnership with our customer, out staff and to achieve profit and respect the goal of each party”.
Our vision:
“To create Al Bader Insurance as the market leader value –priced in Bahrain”.
1.3 History
The company was the brainchild of the four partners. These four partners are undergoing their graduation at AMA International in the Kingdom of Bahrain. They are currently doing their Bachelor’s degree in Business Administration.
1.4 Business Organization
The business organization of the company is based aspartnership between the six owners.
“The senior management including Mr. Ebrahim Khalil, Latifa Khalil, Mona A. Jabber and Khairy Sultan.To achieve the Company’s objectives, ABI.is seeking BD 80,000 in total funding which will be invested by the four partners equally”
Partners Percentage Amount (BD)
Ebrahim Khalil 25% 20,000
Latifa Khalil 25% 20,000
Mona Jabber 25% 20,000
Khairy Sultan 25% 20,000
100% 80,000.00
1.5 Products and Services
“Al Bader Insurance provide to client such as, health coverage , car serv...
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...h referrals, direct mail, telemarketing and the Internet. A list of potential prospects has already been compiled and will serve as a launching pad for marketing the products and services”.
5.6 Specific risk and their solutions
“For specific risk, the analysis line attempted to the profit business risk and the risk management to the company’s insurance and analysis to the solutions”.
CHAPTER 6
CONCLUSION
“Al Bader Insurance Inc. is new business plan we create to provide to the client the competencies and to establish a successful relationship between the client or customer and our staff”.
“The Company will be owned and financed by the four partners and all will have 25% of the company's shares. The senior management including Mr. Ebrahim Khalil, Latifa Khalil, Mona A. Jabber and Khairy Sultan”.
These findings show that the company is doing very well. The financial statements look good and the company is profitable considering the industry averages. Therefore, it is recommended that investors consider this company for their investment portfolio.
Business Insurance News, Analysis & Articles. Web. The Web. The Web.
The multifaceted accounting design that the Linbarger Company faces is that it can't have the capacity to comply with the guarantees they made to the insurance agency. Because it associated with management of cash, the cash flow and the planning and management of the money. The Linbearger Company is unable to comply with the loan agreement made with the insurance company because their cash account balance is below the agreed amount (Cernuşca & Gomoi, 2015). The company should have considered an alternative, for example, short-term cash funding so that they could be all set on time. The company cannot raise the minimum amount they had agreed with the insurance company, breaching one of the principles of insurance-utmost good faith. This has
Rousmaniere, Peter. “Facing a tough situation.” Risk & Insurance 17.7 (June 2006): 24-25. Expanded Academic ASAP. Web. 23 March 2011.
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-Customers: The company felt the importance of being customer-centric and innovate by adapting to customer
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Identify the potential risks which affect the company and manage these risks within its risk appetite;
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However, sometimes, a good reputation can quickly turn negative, just like in the case of today’s Uber, which is totally different from the Uber that took us by storm a few years ago by reshaping the taxi industry. Based on the above, I would ‘’want to be insured by a company that is willing to allow the benefit of any doubt’’ ( DF Unit 7
In this part, the information of XYZ Company will be introduced. Details will include organization foundation and structure, main products, production process and technology, and operations situation.