Archive for the 'Financial Services' Category

Submitted by: Xemplar Telematics

Evolving consumer preferences, connectivity, instant access to data through mobile devices is changing the insurance market in the U.S. like never before. Let us analyze the key trends.

A key trend that is witnessing the U.S. insurance market is growth in the personal accident and health segment. This can be attributed to decreasing unemployment and the implementation of ‘ObamaCare’ reforms.


Another trend that is shaping the insurance industry is M&A in the insurance industry. According to Willis Watson survey, nearly 82%, insurer opts for mergers and acquisitions. Researches indicate a push for top line growth drives this trend. Although this is a global trend industry watchers can analyze U.S. insurers will lead the trend.

Disruption of Connectivity

Connectivity disruption poses existential threat to the insurers in the U.S. Internet of Things will play a major role in disruption of existing businesses with technologies like big data and analytics will determine who will capture the biggest market share in the U.S. insurance market. Like other insurance companies, has lesser brand appeal but at the same time technology enabled insurance is shaping the way ahead for the insurance market. Insurance telematics revolve round IoT or connectivity where usage based premium enhances its appeal to insurance customers. Fleet managers who influence the logistics sector will opt for UBI to track their drivers and make them improve their drive scorecard.

Role of Web Aggregators

Another key trend is people using web aggregators for comparison of insurance products, premium and duration. Earlier the scenario was insurance customers, listening to agents for advice and information on products. But today the web aggregators are changing the customer preferences. They are used to buy products and services online. The same connected community is applying the same rule while buying insurance products or services. The danger lies in customer stops paying premiums if he/she feels the product of competitors are unworthy to consider on the net.

Artificial Intelligence (AI)

There is threat on jobs also. Artificial intelligence is lessening the significance of underwriting. AI has the capacity to aid fraud investigations as well as fixing the premiums. The trend is clear insurance sales force is giving way to automated services. What does this mean? It is to everybodys knowledge that agents dedicated service in attracting customer to buy insurance products. Now this is going to be a thing of the past as aspiring buyers will check net to buy products directly from insurers. But this has its cons also. The question remains how the insured will develop an interest to make active decisions as a few are self motivated to choose plans for them at a time when time is a premium. This means unless there is state involvement or other pressure from corporate or from peers, motivating the citizens to take up policies and paying a premium is not easy. This is going to be another trend.

Role of Analytics

Insurance analytics solutions by IT vendors will play a key role in shaping the mobile consumers. Mobile applications on ubiquitous mobile devices will eliminate agents as mediators. On the other it will influence certain age groups like Millennials to buy various products of the insurers online. Analytics will help the insurers to understand the customer preferences to take right decisions at the right time. This will have its implications in the insurance industry where organizations with superior analytics solutions will reign supreme in the market relegating their competitors to the sidelines.

While summing up all the trends throws up a mix of pros and cons to the insurance sector in the U.S. The coming years will tell the impact of all the trends mentioned above.

About the Author: Primes telematics system, Xemplar, enables fast and efficient two-way communication between insurers and customers. Xemplars mobile app-based system saves you money on hardware and infrastructure costs while also accommodating any mobile device or tablet, reaching drivers anytime and anywhere, and providing your business with critical information in real-time. Contact us now, and in less than 24 hours you will have the best technology solution for auto insurers. for more information visit us:


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Submitted by: Sundip R. Doshi

What almost seemed like a fad in the mid 90s is now a way of life or is it? If you read some of the recent pundit analysis on CRM usage, you will find that most companies have not completely adopted CRM and those that have, not all of them have done it successfully (which is a whole different subject for another time).

So, for those on the sidelines, why CRM and Why Now? Here is the simple answer:

Why CRM?

CRM technology, when combined with Strategic Execution has proven to increase Sales/Revenue, Reduce Customer Service Costs, Increase Efficiencies, Improve Customer Loyalty, Increase Retention, Standardize processes and the list goes on and on

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Why Now?

Now this is an interesting question My first thought was, if you have been educated about the value of CRM, then why not now? Its like saying, I am going to wait because I dont need all that CRM offers. So, that in itself should be enough. But just incase you are not convinced, let add a few more reasons:

The Current State:

Heck why not? Everyone is talking about how the economy and its negative impact on their business. So, why would you not invest in changing the state of your business for the better. Small price to pay and perhaps. just perhaps the key too keeping your business alive!


The common excuse: I simply cant afford it. Well my friend, you can. CRM is no longer for the big boys the playing field is now level you too can utilize automation to provide the best value for your customers. Credible CRM software are available for as low as $40 per user per month. Like the old saying goes you pay for what you get. So remember not to be sucked into Free solutions or Fire-sales!


I remember doing business with companies within 50 miles of my business. With the Internet, the entire world is within 50 miles of my business. The proof is in the pudding just sold to a company in Estonia, Saudi Arabia, Ireland and in talks with a company in Madagascar. Wow! Madagascar never thought that the movie I so much enjoy watching with my kids would actually be a place that could use my products and services!

Easy Deployment:

I want to do it but I dont have the technical know-how. Okay, we have heard that one too So, do you use Gmail or Hotmail or Yahoo Mail? In many ways, you can start using CRM like opening up a new Gmail account. (I am just talking about opening the account dont forget the strategy side of things). With Online CRM, securely hosted somewhere else in the Internet Cloud, you can start using CRM today without hiring a full-time IT person or consultant. Just find the solution that is right for you (another topic for another day), and get cranking! Hey the best part about online CRM is that you wont have to worry about Software purchase, installation, maintenance, upgrades and backups because all reputable online vendors include these features as part of the monthly cost.

As Winston Churchill put it so well, If you mean to profit, learn to please. Learning to please in todays world requires the right tools. So, what are you waiting for? Search for Small Business CRM or Online CRM or CRM Software and start looking at the many solutions available to help take your business to the next level.

About the Author: Sundip R. Doshi, CEO of Surado Solutions, Inc.


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What Age Should I Consider Long-Term Care Insurance?


Terry Stanfield..

Long-term care insurance is a very important part of ensuring you have a future that does not leave your family struggling to pay your bills at the nursing home. Getting that insurance means you are taking the initiative and thinking ahead, which is an excellent quality in an individual. However, many potential long-term insurance individuals do not always know when they should consider getting long-term care insurance. So, when should you think about making the commitment?

If you know when you are going to need to make a long-term care insurance claim, then do it a month beforehand. Of course, there is really no way of knowing when you will need long-term care claims because you don’t know when you will be diagnosed with a disease, suffer an injury or simply need help with day-to-day activities.

In reality, you can get the insurance policy at any time in your life because all it takes is one unexpected accident to change everything about your life and require you to need long-term care insurance. No one thought Christopher Reeve, aka Superman, would need long-term care insurance, but he did and his story is an example of the unexpected nature of life.

Often, people will see long-term care insurance as something for the elderly, but the truth is that 40 percent of those who are receiving long-term care are below the age of 65.

So, to answer the question, you should look at getting into the long-term care insurance program when you can comfortably afford to pay the premium and you have enough income and assets to protect to justify the cost of the policy. As well, if you get the premiums early in life, you will pay a lot less than you will at an older age. That in itself can be an excellent reason to join the program early, rather than later.

Long-term care is not covered by medical health insurance, so you need to make sure you protect your assets in the case of accident, and the best way to do that is through a long-term care insurance plan. Nothing is set in stone and making sure you are covering your bases ensures you will not be left hanging when things take a turn for the worst. Anything can happen.

Conclusion There is often the question of when to spend the money on a long-term care insurance policy, and all to often people will think that long-term care is only for the elderly. However, as has been stated, anyone can suffer the effects of a disability that requires them to need daily care, but with out the coverage, their family ends up paying the bills. As a result, you need to make sure you get the long-term care insurance policy as soon as you are able to afford it and when you have enough to protect. At this point, you will be in the best situation to pay low premiums, yet get the security and peace of mind that comes from being a part of the long-term care insurance program.

You should just ask for help from an insurance representative who specializes in long term care insurance to answer any questions.

Before you go out and buy a policy go to

Long Term Care Insurance Guide

and read

How Does Long Term Care Insurance Work?

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