How To Save On Auto Insurance

One of the main considerations most of us take into account when shopping for automobile insurance is, of course, cost. No one wants to pay more for a auto insurance if you can get it for less, right? Isn’t that the American way? With that in mind, let’s explore some of the things you can do to keep your auto insurance costs as low as possible.

By far the biggest single factor in keeping your auto insurance rates as low as they possibly can is a clean driving record. Period. If you’ve had an accident or moving violation in the last three years, your auto insurance rates are going to go up. In some cases, even if you are involved in an accident, your auto insurance company is probably going to hike those rates up noticeably.

The Accenture Business Intelligence Solution for Insurance

Every day, senior executives in the insurance industry must make complex, business-critical decisions that take into account a wide array of performance metrics and market intelligence. Facing rigorous regulation and complex information-rich value chains, insurance companies have an absolute need for detailed, granular knowledge of what is happening in their operations, together with an ability to analyze this information in real time to investigate specific events, emerging trends and future what-if scenarios.

In many cases, the difficulty of achieving world-class business intelligence (BI) in insurance is compounded by insurers’ legacy information assets. At the same time, ongoing change in consumers, competition and capabilities means insurance businesses face growing pressure to break down their traditional, rigid information silos.

Long Term Care Insurance and Planning

The statistics do not lie – nearly one in two over the age of 65 will need some form of long term care medical assistance. The average nursing home stay is approximately three years and the cost can be anywhere from $30,000 to $90,000 annually. A three year stay in a nursing home in an average priced facility could cost over $210,000. At the same time, the federal and state governments are enforcing recent law changes regarding Medicaid. These changes make it more difficult than ever to qualify for Medicaid benefits.

Relying on Medicaid is no Longer a Viable Solution for Most Estates The passing of the Deficit Reduction Act makes clear that government entitlement programs will no longer pay for fiscally able consumers. Individuals and families trying to avoid privately paying by giving away or hiding assets are unlikely to qualify for Medicaid. The look back period has increased from 36 to 60 months and gifting assets to family will only delay any Medicaid benefits you might receive therefore negating the gift itself. Medicaid only allows $500,000 in property value and will attach a lean to your property to recuperate its outlays.

Indian Insurance from Underwriters perspective

Insurance companies in India are clearly divided into 2 part (again a British Legacy) – a) The Life Insurance, covering the Life of an individual or group. Any thing that does not fall into this category falls into b) Non-life Insurance. There is also a 3rd group or the so called a gray area, where both Life and Non-life Insurance Companies compete now. It is Health Insurance & Credit Insurance.

Underwriters of Insurance companies have traditionally ruled the market before
liberalization, since it was Seller’s Market. LIC for Life Insurance and 4 sisters from Non Life Companies (All Govt. owned) served the market for over 3 decades. It is amazing to see, how much the Indian Insurance canvas has changed now. In flat 6 years of active liberalization, we now have more than 30 Insurance Companies, competing and working hard over-time to garner, bigger share of growing USD 20.00 billion market. Interesting to see, that the lion share of the market is still with the past leader only i.e.

Indian Insurance from Customers perspective

Indian Insurance consumers are like Indian Voters, they are soft but when time is right and ripe, they demand and seek necessary changes. De-tariff of many Insurance Products are the reflection of changing aspirations and growing demand of Indian consumers.

For historical years, Indian consumers were at receiving end. Insurance Product was underwritten and was practically forced onto consumers on a “Take-it-As-it-basis”. All that got changed with passage of IRDA act in 1999. New insurance companies have come into existence leading to open competition and hence better products for customers.

Indian customers have become very sensitive to Coverage / Premium as well as the Products (read Risk Solution), that is given to them. There are not ready to accept any product, no matter even if that is coming from the market leader, should that product is not serving the purpose. A case in point is ULIP Product / Group Life and Credit Life in Life Insurance segment and Travel / Family Floater Health and Liability Insurance in the Non-life segment are new age Avatar.

What the heck is life insurance anyway ?

Let’s answer it simply and use a couple examples for clarification. Life insurance is any product that pays a financial benefit for an incident or action in a person’s life. Let‘s use car insurance as an example for clarity.

Car insurance has many different forms. It doesn’t pay a benefit only if you completely destroy a vehicle. There is coverage for theft, fire, vandalism, collision damage, glass damage, rental vehicle replacement, etc, etc. You are starting to get the picture. It is all car insurance, because it pays benefits relative to a car. The cost and benefits of “car” insurance depends on what features you choose.

Another good example is house insurance. Think about it. You can insure against specific incidents; fire, theft, flood, sewer backup, liability, tenants packages, contents, etc. It’s all “house” insurance but there are many facets to it.

A Hub of the Most Popular Mortgage Banks

Mortgages have changed the lives of individuals for ever. Distant dreams have turned in to reality. Once you had dreamt of owning your own dream house. Mortgages have provided you with the opportunity to realize your dream. With the facility of Mortgages, you can place your property as a guarantee to the money lender in return for some cash.

Mortgages are of many types. They are mortgages dependent only on interest rates, mortgages which has a flexible interest rate, fixed interest rate mortgages, reverse mortgages and balloon mortgages. All such mortgages are provided by a legal financial institution which is commonly called a bank.

Five Most Expensive Mistakes that CFO’s Face When Reviewing Insurance Options

Five Most Expensive Mistakes that CFO’s (Businessowners, CEO's, COO's and Board Members too) Face When Reviewing Insurance Options.

CFO’s we speak with are frustrated with the way in which their insurance program is handled. They get quotes at the last minute… they don’t have time to thoroughly evaluate what they are getting… they don’t fully understand the coverage especially the exclusions and how they may affect a loss… they are not certain that they are getting the “best” deal available… they are not even certain that their current insurance relationship has their best interest in mind, especially for the long haul.
Let’s take a look at a few statistics:

According to a recent report of nearly 400 CFO’s and Treasurer’s of some of the world’s major corporations called the “Protecting Value Study” from the commercial and industrial property insurer FM Global, the Financial Executives Research Foundation, and the National Association of Corporate Treasurers (NACT) found that 85 percent of the respondents indicated that they view risk management as an investment. In particular, they do so because they believe that it protects their business continuity; as a result, they believe there is a realized return on investment. We too believe that an insurance & risk management program should be geared to a greater return on investment and you don’t have to be a major corporation to get a better return. The question is how do you accomplish that goal?