Posts Tagged ‘Business Insurance’
Weather Insurance for Small Companies
February 7th, 2011 | 
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Japan introduced a new type of insurance in the form of weather insurance. This type of insurance is to anticipate the decline in profits caused by cool summer. This type of insurance sales target is a small company engaged in the service / services like: renting a place to stay (hostels) used the tourists the edge of the beach vacation, restaurant manager, swimming pool, ice-cream industry, and other small businesses whose sales focused on season heat.
The insurance was named “Summer Greeting” was sold in the period July 15 until July 31. Closing period is determined only in August. August was chosen because it has been learned that the days of summer are on average in August. How it works as follows: Number of days in the summer in August determined only for 10 days. Summer day is defined as a day where the temperature more than 300C. When the days in summer comprise less than 10, then the insurer indemnify accordance with a deficit because of the small number of summer days.
For example, compensation is determined $ 5,000 per day, if the number of summer days in the month of August was the sixth, then the total compensation amounted to $ 20,000 as compensation for lack of four days of summer.
Application closing of risk must be completed before entering the insurance period in the month of August. Determination of sum insured are free, but the overall limit of indemnity specified maximum amount of the excess profits that are borne in August of the year by gains in August the previous year. While it has also designed several types of insurance to cover the risk of decline in profits due to abnormal weather conditions, such as warm winter, heavy rain or sunshine insufficiency.
Maintaining the Growth of Insurance Industry; Three Growth Catalyst
In addition to distribution channels, product innovation, the growth of the life insurance industry, according to some literature can be maintained if we are able to capitalize the following three things: (1) the potential of Islamic insurance, (2) utilization of information technology (IT), and (3) proficiency in asset management and liability insurance industry.
First, there is an insurance scheme which has the potential to catalyze the growth of life insurance in Indonesia, the Islamic-based insurance. As the largest Muslim populated country in the world, the insurance industry in Indonesia has a huge opportunity to provide a range of insurance products to middle-class society.
The number of people in this class continued to experience growth driven by solid growth in gross domestic national product. Realistically, we can expect that the percentage growth of Islamic-oriented insurance will skyrocket beyond the growth in unit-linked life insurance products and traditional insurance, at least in the past five years to come.
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Posted in Insurance Industry | 
Tags: Business Insurance, General Insurance Tips, Insurance Product | 
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Hire Young Entrepreneurs
Agent is a major distributor of products as well as spearheading the company now serves client. What are the strategies to develop the agents?
The strategy begins with the recruitment process to attract young professionals who have the entrepreneurial spirit; both are currently still working in various types of industrial and entrepreneurial talent searches in college. Moreover, the process of training and development is an important key for them to be entrepreneurial leaders and successful professionals. Through a program that aims to build the competence of their leaders and professional agents, we conducted educational programs and training that includes the process of certification / licensing, training, financial planning, training, selling, and forming a good attitude and personality and always put the customer and programs another.
To improve communications, listen to the input of the leader and the agents, by forming several committees headed by several agencies in charge of our leaders give valuable inputs. Inputs are an important part of the whole process in determining the company’s strategy as product, service, and others. Read the rest of this entry »
Posted in Insurance News |
Tags: Business Insurance, Insurance Info, Insurance Product |
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