GENERAL INSURANCE BLOG

Even though the Indian insurance market has been expanding quickly in recent years, just about 3% of Indians currently have life insurance. Increasing the base of policyholders is essential to ensure that more people are sheltered from financial shocks. Although technology has been suggested as the answer to this issue, it may not be the most effective strategy to increase the number of Indian policyholders. This blog will discuss how tech may not be the best solution to expand the Indian policyholder base. So, without any further delay, let's get started.

1. Accessibility is still an issue:
As it is frequently out of range for significant portions of the population, technology may not be the most incredible way to increase the number of Indian policyholders. Despite India's tremendous internet expansion, many residents of rural areas still need access to smartphones and the internet.
The most successful way to communicate with these people is still through conventional media like newspapers, radio, and television. There is a substantial digital divide between tech adepts and those who are not. For instance, older individuals may need help navigating online insurance platforms, and individuals who do not speak English well may need help understanding the language used in many online insurance policies.

2. Price is one of the primary reasons:
Technology can be expensive to develop and maintain, which is another reason why there might be better ways to increase the number of policyholders. For smaller insurance companies, it might be too expensive to spend on technology, software development, and cybersecurity to build and manage online insurance platforms.
Insurance companies might also need to engage specialised personnel to operate the platforms, raising expenses even more. When costs like these are eventually passed on to customers through higher premiums, insurance becomes less affordable and less available to those who need it.

3. Lack of trust and belief in the insurance providers:
Additionally, there may be better uses of technology than fostering public confidence in insurance. Many individuals in India continue to be cautious of insurance companies and doubt their motives. This distrust is frequently based on prior instances where insurance companies have allegedly broken their commitments or failed to live up to their pledges. Personal interactions, open communication, and moral conduct are necessary for fostering trust and confidence in the insurance industry. Technology can undoubtedly make some of these encounters easier, but it cannot replace the value of human interaction, especially when fostering trust.

4. Absence of proper awareness and information:
Since technology tends to overlook the significance of insurance education, there might be better answers. Educating the public about the advantages and importance of life insurance is essential to increase the number of policyholders. Understanding the many insurance policy types, the coverage they provide, and how to pick the one that best suits their needs can all be achieved with insurance education.
The value of in-person interactions with trained insurance agents who can answer questions, offer guidance and help people choose the best policy cannot be replaced by technology, even though it can help deliver this education through online tutorials, webinars, and other digital resources.

What could be some probable solutions to this issue?

Policymakers may concentrate on enhancing life insurance education and awareness initiatives, particularly in rural areas. Offering financial incentives to those who buy insurance policies, including tax savings, may encourage people to enrol in insurance. Insurance companies may also consider partnering with banks, post offices, or non-governmental groups to reach a larger audience as an additional distribution channel.

We hope this blog provides insights into this issue and how insurance companies can grow their consumer base. While we are on the topic, it only seems like a brilliant idea to talk about how you need to get insurance from the best general insurance company which caters to its customers' needs optimally and is available 24*7 to assist them with their queries, therefore, helping them arrive at a decision.

Click HERE to learn more about how you can choose the best general insurance company for your needs.

Disclaimer: The information provided above is for illustrative purposes only. To get more details, please refer to policy wordings and prospectus before purchasing a policy.

In a world of uncertainties, a financial product like insurance is no short of an overlooked superhero that always comes in clutch and saves the day. Be it your home, vehicle, health, or business, general insurance India protects various assets essential for your life's unaffected functioning.

While the penetration rate of general insurance India only slightly lags behind the global average, it is a fact that can only be celebrated in isolation. Policyholders also need to periodically assess their situation to determine whether their policy provides adequate coverage in terms of insured sum and coverage benefits instead of sticking to the same policy to skimp on premium.

It is necessary to upgrade your policy as your financial situation changes, which is a game of balancing your assets and liabilities. Liabilities refer to events that certainly result in monetary outflow in the present or the future.

If you notice an increase in your liabilities or anticipate the same in the upcoming future, here’s why you should consider increasing your insurance coverage.

1. Inflation:
The cost of living only increases by the day. The official figures released by authorities are usually conservative. Still, upon careful research, one can identify that understated inflation exists in every industry and is only set to grow over time. While some rising costs are necessary to fuel economic growth, consumers ultimately feel the pinch on their finances.
Any assets you may have purchased are bound to depreciate over time and lose value, while any loans compound into more significant outflows, resulting in an imbalance of finances. Consider availing of general insurance India plans to protect your assets and yourself from defaulting on existing liabilities.

2. Diminishing earning power:
Over time, an individual's earning capacity inevitably stagnates, if not reduces. While strategic investments may compound your wealth over time, the lack of a continuous flow of income may put you in a challenging financial position. As liabilities continue to increase, a simultaneous addition in terms of revenue is essential.

3. Dependents’ financial stability:
Like numerous other vital issues, your primary well-being directly impacts that of your dependents, especially if you're the sole breadwinner of your family. Whether uncertainties come your way in the form of accidents, health issues, disabilities, or unforeseen calamities, it is always best to increase your policy’s insured sum after a careful risk assessment. Always take stock of such a situation and purchase general insurance India to protect your assets and finances. This way, you can minimise the financial impact of the event on your dependents.

4. Increased number of dependents:
If the number of dependents on you has grown recently, it is time to evaluate your policies’ insured sums. Irrespective of the kind of insurance, except those relating to tangible assets, ensure that you carefully assess various plans under general insurance India. This is essential to identify the best policy that provides adequate coverage and perks for your extended family.

5. Increased personal liabilities:
If you are taking more significant debt to fulfil any financial goals, consider increasing the sum offered by the insurer on the related asset. This may be in the form of education loan insurance, home or motor vehicle loan insurance, etc. It also applies to health insurance by upgrading your policy to a more comprehensive policy after accurate medical diagnosis and detection of significant health risks.

Through careful assessment of the situation and risk analysis, potential policyholders can purchase the best plans under general insurance India and derive the most significant value for their investment, whether their liabilities stay stable, diminish or increase!

Click HERE to buy the best general insurance India policy.

Disclaimer: The information provided above is for illustrative purposes only. To get more details, please refer to policy wordings and prospectus before purchasing a policy.

Travelling is one of the best ways to escape life's mundane realities and find peace in a distant land. It is excellent for your physical health and helps detoxify your mind. It also allows you to spend quality time with your loved ones. A vacation should be undertaken at least once a year to provide much-needed calm in the chaos and feel at ease with yourself.

In a country like India, there are various places that you can explore solo or with your partner or family members. They are diverse, serene, magnificent, and rare. There are a few enticing locations you will not find anywhere in the world. Eco-tourism is one such unique activity that has gained high momentum post Covid-19. India has been a hub for eco-tourism for the past few decades now. There's something for all, from the scintillating Himalayas to the backwaters in Kerala.

We have you covered if you're looking for exciting eco-tourism destinations for a refreshing vacation! However, remember to purchase your general insurance policy to protect yourself against any contingencies before embarking on your journey.

Here's our curated list of the best eco-tourism destinations.

1. Kerala backwaters:
Take a Kettuvallam, the local term for a houseboat, and embark on a journey of a lifetime among lush green surroundings. The backwaters of Kerala have their charm and character. The green cover all around soothes your eyes and soul. You can also stay overnight on these boats and enjoy a perfect water vacation amidst the natural surroundings of green trees, picturesque views, and gentle kisses of fresh air.

2. The green valley of Munnar:
This list is incomplete without the inclusion of Munnar in Kerala. Present at an elevation of 1,700 metres, Munnar is lined by lush green tea plantations and varied flora on all sides. The vast green stretches of land are a sight to behold. It is also home to various rare species of flora and fauna that are on the verge of extinction. You will only see vast stretches of cascading greenlands everywhere you look with the blue hues of the skies.

3. Galgibaga Beach, Goa:
Located in Goa, Galgibaga Beach is famous for the turtle nesting that takes place every year. It is one of the underrated beaches in Goa that is rarely visited by tourists all year round. This allows you to explore the golden white sands lined with palm trees away from the chaos of popular tourist destinations. It is serene, peaceful, and perfect for a vacation. You can also spot Olive Ridley Turtles during the winter here!

4. Kaziranga National Park, Assam:
Spread over a wide area of 430 square kilometres; the Kaziranga National Park is a world heritage site. It is home to many rare species of animals, birds, and insects. You can explore the wilderness by taking a jungle safari. It is a prominent place to spot species like Hornbills, vultures, hispid hares, jackals, and more.

5. Sundarbans National Park, West Bengal:
Sprawling over 1,330 square kilometres, the Sundarbans are the largest mangrove forest in the world. The Royal Bengal Tigers live here in utmost peace. You can catch glimpses of their natural habitat by visiting here. You can also witness some geographical marvels here and indulge in a conversation with the local and traditional honey collectors of the Sundarbans.

Eco-tourism is slowly becoming a must-activity for mainstream travellers in recent times. More and more people are visiting these tourist places for leisure and staying close to nature. However, we recommend purchasing adequate general insurance to protect yourself from mishaps before setting on your journey in the wilderness or travelling to off-beat places.

Click HERE to buy reliable general insurance.

Disclaimer: The information provided above is for illustrative purposes only. To get more details, please refer to policy wordings and prospectus before purchasing a policy.

Your skin can suffer a lot in the summer. It can become dry, dull, and prone to breakouts due to heat, humidity, and sun's rays. Fortunately, there are natural solutions that you may regularly use to help maintain your skin healthy and radiant throughout the summer. This blog will review some of the top all-natural summer skincare solutions. Let's get started.

1. Increase your fluid intake during the summers:
Drinking lots of water will help keep your skin hydrated during the summer. If dehydrated, your skin may become dry, flaky, and prone to wrinkles. Your body may be cleansed of pollutants by consuming at least eight glasses of water every day, which will also maintain your skin looking young and healthy.

2. Protect your skin from the harmful rays of the sun:
Your skin may become damaged by the sun's rays, leading to early wrinkle development and sunburn. Even when it's cloudy outside, you should use sunscreen with at least SPF 30 to protect your skin from the sun. You should also wear a hat and protective gear when spending time outdoors.

3. Aloe vera to the rescue:
Sunburn-related redness and inflammation can be lessened by using aloe vera's anti-inflammatory qualities. Antioxidants included in it can also aid in shielding your skin from additional harm. Cut an aloe vera leaf from the plant and apply the gel to your skin to utilise it.

4. The infamous Indian summer staple – Cucumber:
Antioxidants and anti-inflammatory substances found in cucumbers can help lessen inflammation and redness. Cucumber can be used by simply slicing one and applying the slices to burnt skin for 10 to 15 minutes.

5. Say yes to tea tree oil:
Tea tree oil has antibacterial qualities that can assist in eliminating microorganisms that cause acne. Before bed, apply a few drops of tea tree oil to your skin after diluting it with a carrier oil like coconut oil.

6. Catering to the nostalgia – Lemon Juice:
Lemon juice is a home treatment that works naturally to reduce sun-induced hyperpigmentation and black spots. The citric acid in lemon juice can help exfoliate your skin and lessen the visibility of dark spots. Add lemon juice to your skin with a cotton ball, let it sit for 10 to 15 minutes, then rinse it off.

7. Coconut Oil – the best solution:
Throughout the summer, coconut oil is a natural solution that can help keep your skin moisturised. Fatty acids in coconut oil can help keep your skin soft and silky. Apply coconut oil to your skin before bed and keep it on all night to use it.

8. Honey is mandatory:
Honey can be a natural cure to soothe and moisten dry skin damaged by the sun. Honey has antibacterial properties that can aid in the prevention of infection and foster the healing process. Apply honey to your skin, let it sit for 10 to 15 minutes, then rinse it.

Note:
While natural therapies might be helpful, it's important to remember that not everyone will experience success with them. Before utilising any new product or cure, conducting a patch test is crucial because some people may have allergies or sensitivities to specific natural substances. A dermatologist should be consulted for any concerns or persistent skin problems. You can have healthy, radiant skin all summer long if you take the proper precautions and care for it.

In conclusion, natural therapies can shield your skin from the damaging effects of the sun and heat while keeping it hydrated and glowing. Remember, caring for your skin and staying hydrated throughout the summer is vital for preserving overall health and wellness. And to safeguard yourself and your family against unforeseen circumstances, you must also purchase the best health insurance. Several online health insurance companies provide insurance with different levels of benefits. You need to choose the one which caters to your needs optimally.

Click HERE to learn more about the benefits provided by different online health insurance companies.

Disclaimer: The information provided above is for illustrative purposes only. To get more details, please refer to policy wordings and prospectus before purchasing a policy.