Yes we can

Submitted To:

Involvement of Insurance in

Chemical Industry

Project

Prof. M Yousaf Samdani

M Sajid Bashir Mi10MBA036

Hafiz Rafiq Jamal Mi10MBA006

Qaisar Naved Mi10MBA007

Shahzad Anwar Mi10MBA040

M Rizwan Akbar Mi10MBA075

Group members

http://www.ittehadchemicals.com/

Ittehad Chemicals Limited (ICL) is the pioneer and one of the largest manufacturers of industrial chemicals in Pakistan.It was established in 1962 under the name of United Chemicals by a private entrepreneurIt spread over an area of 106 acres

Introduction

Caustic Soda Liquid Chlorine Hydrochloric Acid Sodium Hypochlorite Bleaching Earth (Shaffaf) Chlorinated Paraffin Sulphuric Acid 80% Zinc Sulphate

Products

Insured Items of Industry

DSA PlantPipelinesPumps

VehiclesUsed by staffFor shifting material

BuildingsOfficesStore rooms etc.

Insured

Insurer of the Industry

EFU General Insurance Ltdproviding Property,Marine/Aviation,Motor and other Miscellaneous products cover

Insurance Premium

2005 2006 2007 2008 2009 2010 20110

1

2

3

4

5

6

7

8

9

10

4

7

10

8

9 9

10

Insurance Premium(in millions)

Insurance Claims

2005 2006 2007 2008 2009 2010 20110

1

2

0.870000000000002

1.93

0.21

0.43

0.12

0.710000000000001

Millions

Benefits Due to Insurance

Secure assetsFinancial compensation in case of lossReduction of the chances of lossPromotion of international trade Risk free products distributionSource of creditConfidence to purchase expensive plantsGrowth of business competition…..etc

Uses of IT in Industry

Research and developmentPlacing online ordersAutomated production systemAutomated Reactions through IT equipmentsCAD systemMarketingDocument handling and data storageUses of Inventory management software's etc.

IT in chemical Industry

Impacts of IT & Insurance

2006 2007 2008 2009 2010 20110

10

20

30

40

50

60

70

80

90

100

4350 47 48

93

45

Average Production(in thousand tons)

Recommendations

Research and development should be increasedInstallation of new robotic technologyOld machinery should be replacedMore employee’s training centre Marketing by using IT techniquesUses of alternative energy resourcesEstablish risk management department…etc

Yes we can

Conclusion

ICL is performing well by understanding the Innovative change in market.

Yes we can

Yes we can