An Agora Times report on the Indian Insurance Industry 2010

October 31st, 2022 by admin No comments »

In this article we discuss the Indian insurance market and the trends that will help companies in the United States evaluate how they can leverage from this untapped market.

The research has been conducted by the VA consulting team working with inputs from several insurance leaders in the Indian market that have worked with early entrants like Met Life,Guest Posting Zurich, ICICI and others.

Background to the Indian economy

Ever since the economy was opened up in 20 years ago India has been growing as an economy at nearly double digits.

As the working middle class becomes a sizable number the insurance industry has started growing at an incredible rate. It has grown over 200% since 2006. Even last year that insurance industry has grown by over 45%. Analysts predict the industry is going to grow at least 10% in 2010 to become a $42Billion industry. Even with this growth rate only 5% of the country is actually covered by any form of insurance.

The research has been conducted by the VA consulting team working with inputs from several insurance leaders in the Indian market that have worked with early entrants like Met Life, Zurich, ICICI and others.

There are insurance governing bodies have been formed and governing bodies have brought about a number of changes to standardize the insurance sector but more changes are expected especially in the personal and life area.

There are many factors to probe into as an investor or venturing into the Indian market. Our guidance to companies that are interested in entering the Indian market is:

The consumers as well as the investors should be focusing on the insurer’s financial strength and capability to meet ongoing responsibilities to its policyholders.

An Inside Look at New York State Auto Insurance

April 21st, 2022 by admin No comments »

Auto insurance rules vary from state to state. As always, New York is a little different. Prior to getting to know more on the subject of New York auto insurance regulations, consider how it differs from others.

Facts About Traffic In The State Of New York

Everyone knows that New York City has the largest population of any city in the United States, however, the New York City Subway is the largest transportation system in the entire world. Without minding the enormous time they spend on travel to commute between their home and workplace, which averages anywhere between 60-89 minutes, 50 per cent of commuters rely safely on public transportation. 530,791 people all leave for work between the hours of 8:00am and 8:29am, making this the most congested time on the road. This is why New York City is in the top 5 cities in the world that have the highest cost for automobile insurance.

What Are New York State Insurance Regulations?

Considering this information, New York car policies have been created rather uniquely. Help us understand first. It is in accordance with “no-fault system” whereby the insurance company parts with a specified sum whether the fault is yours or another driver. 25/50/10 coverage is always going to be mandatory on your car insurance policy. The least amount fixed for any Bodily Injury Liability insurance is $25000 per person and $50,000 for either two or more involved; this is apart from an indemnity of Property Damage Liability amounting to not less than $10,000. New York car insurance rules insist that drivers carry at least a certain amount of personal injury liability coverage (PIP) the insurance cover $50,000 is meant towards meeting medical expenses should a claim be made.

It is altogether a different problem, if the drivers involved in the accident happen to be uninsured or under insured. Termed as Uninsured/Under-insured, it is a compulsory clause nevertheless. (UM/Uninsured Motorists) Standard or Supplemental (TOTAL) the insurance cover is at least $25,000 or $50,000 as the case may be, for every single accident incident and every single victim.

Saving Tips For New York Auto Insurance

Insurance in the New York area is always going to be more expensive than anywhere else. There are other ways that will help cut your costs. The basic coverage plan like not using the car for business purpose. Going for a small car, getting safety devices installed in it like seatbelts, anti-lock breaks, car alarms, tracking systems and keeping it in a garage can be tried to reduce your deductible.

To save even more it is always best to purchase all your insurance policies from one company. If you meet these qualifications, it is possible you might be able to get a multi-policy or multifamily discount. It’s important to maintain a high credit rating history. By doing this, it will help you in bargaining down a cheaper New York insurance rate.

How Your Business Is Perceived By Using Reputation Management

March 18th, 2022 by admin No comments »

Is it true that you are keen on finding out about dealing with your standing? Have you been searching for accommodating and solid data? Indeed, this article will ensure you get a few strong ideas. It will assist you with sorting out some way to more readily deal with your standing.

Posting data via online media locales is essential to your business’ standing. You should post a few times each week at any rate to actually run an advertising effort. Assuming you see that posting via online media locales is overpowering, consider recruiting an aide to make your posts for you.

At the point when individuals invest in some opportunity to offer something about your business, it is vital that you are sufficiently gracious to answer. While you might be an extremely bustling individual, it shows your crowd that you really care about them and what they need to say. This is imperative to keep a consistent client base.

At the point when you talk with your crowd, ensure that you do as such in a conversational tone. Individuals try to avoid the possibility of entrepreneurs continuously addressing them with promoting to them. While you would like to make a deal, you ought to never cause a client to feel like this is your main concern.

Be grateful. Assuming somebody leaves a decent audit about your organization, send them an individual message and express gratitude toward them for their criticism. On the off chance that conceivable, send your client a coupon for a specific percent off on their next buy as a much obliged. In the event that this is preposterous, earnestly say thanks to them for their input.

Assuming you will utilize anybody’s thoughts, you ought to constantly make a point to give them credit for that. Everybody out there can advance a little from others, so giving due credit will show individuals that you don’t think you are over that. This is an extraordinary method for getting their appreciation.