Monthly Archives: October 2016

Archive of posts published in the specified Month

Oct
31

Gain Efficiency Through Claims Investigation Services

Importance of Claims Investigation

Underwriting and claims investigations are the two most imperative perspectives in the working of an insurance company. In the current commercial environment where competitiveness and financial gains stand as vital business cornerstones, claims investigation can serve as a market differentiator that puts insurance agencies at the front line of industry leadership and innovation.

To be effective, insurers need to enhance the operational productivity of their claims processing and assemble a working model that can minimize claims costs and also dispense the unnecessary expense associated with managing real as well as fraudulent claims.

Numerous insurance providers have varied claims operations, personnel and units that concentrate on the products and services (non-life and life) they offer to people or on various business sectors. This model frequently brings about gigantic claims operations with notable unit designs, system infrastructure and procedures for every market or line of business. In addition, in high-volume or exceptionally complex operations, fraud, waste and abuse claims are the ones that distress the insurance companies the most. It is here that the process of claims investigation works wonders, and helps insurers gain efficiency in their day-to-day operations.

Understanding Claims Investigation

The Claims Investigations process is one in which Insurance Companies, Insurance Examiners, or Investigators get data to assess a claim. Thus, it might require examining documents, finding witnesses, going talking with individuals, assessing property, for example, vehicles, accident sites to give some examples. Further, these investigations may lead to taking photographs, video, finding witnesses, talking with the victims, claims managers and much more. In doing so, insurance companies are looking for able partners that can deliver all the services of the claims investigation process, and this leads to the need of a Third Party Administrator who can work in tandem with the insurance providers to settle the claims and give valuable suggestions.

Various Forms Of A Potentially Fraud Claim

Fraud is a general term used to portray an act of deceit by an individual or group. This act of deceit can come in various configurations. For instance, insurance investigators attempt to uncover the individuals who make false claims with a specific end goal to get insurance money. Likewise, intellectual fraud occurs when fake items are passed off or sold as originals. Mortgage fraud happens when some person has adulterated the paperwork to ensure a loan goes through. Since each of the aforementioned claims fall in the fraudulent claims category, then having a certified claims investigation agency can only gain efficiency in each and every step of claims adjudication.

As you must be aware of the fact that fraud is a gigantic issue that costs insurance companies billions of dollars each year. In such a scenario having a trusted insurance claims investigation partner can very well leverage the workload of in-house working staff of an insurance company. And with integrated platforms and digitized reports can present you with real-time information on every claim investigated.

Following these points can help evaluate the claims investigation service quality parameters, and …

Oct
30

The Truth Behind Our Banking System

Most people don’t really understand the truth behind our banking system because it isn’t taught in our schools, not even to financial professionals. Oddly enough, the inconvenient history is omitted from all educational curriculums. I obtained a business degree in finance and there was one thing that never was taught to me about the origins of our banking system that I believe is key to the state of our banking system and our economy today. It is the fact that it was created under cover of legislation that was supposed to protect the economy and stabilize it. That is the primary mission of the Federal Reserve Bank. However, the real motivation was to shield the owners of the banks from competition and create a cartel.

I was also created to start a franchise that could print a fiat currency. A fiat currency is one that has no basis of value except by the good faith in the government to pay its debts. It means that if more money is needed in the economy, the bank simply creates it. This central bank could also then take control of all the reserves of all banks to protect the more wreck less banks from runs at the cost of the conservative ones, and get access to taxpayer money when the bank is in trouble. All the while, the Federal Reserve Act of 1913 was sold as a law that would protect the public. In terms of stabilizing the economy, the Federal Reserve Bank has failed miserably. In terms of reaching its true and hidden goals, it has been extremely successful.

People believe that the financial crisis is somewhat of a mystery. But every financial crisis we have had since the Federal Reserve Banking System has been in place has been related to debt. Under the current system, debt is used to create new money or to shrink the supply of money (by paying debt off) to attempt to control the economy, and allegedly stabilize it. In reality, since the loans were made with money created from nothing, the bank loses very little money. It is money that it never had in the first place. Technically, a retail bank with too many bad loans becomes insolvent, so the game is to roll bad loans over into larger ones and creates more money and gives the borrowers more money to continue to make the interest payments. There is also insurance that backs loans, so the government will pay for bad loans with taxpayer money. The Federal Reserve Bank has convinced the government that allowing big banks to fail would create great hardship in the economy, however, it is the massive creation of debt that fuels this system that causes the great hardship when the final cost of bailouts is passed to the public in the form of inflation due to an excess supply of money created by excessive lending to cover bad loans.

There is a rich history of how the banking bailout system has …

Oct
29

Mortgage Life Insurance – The Best Approach

Insurance is risk management. So, for each type, you need to identify the risk to cover and the best way to do it. Mortgage life insurance, like other insurance types, could be expensive, so you need to understand that the inherent risk is the same as for normal life insurance. Beside, there are different ways to get it.

Financial institutions sell mortgage life insurance to protect them from potential loss on the death of mortgagees. Financial institutions, instead of family members or others you choose, benefit from these policies.

Let's look more closely at how mortgage life insurance might raise. If you borrowed $ 100,000 from a bank to buy a house, the bank would write its name on the property's title, and so, become a co-owner up to the loan's value. This is the typical mortgage.

If you died before you repaid the mortgage, the bank would have two choices. It might sell the house and give your beneficiary the difference between the amount they got on sale and the outstanding loan. Alternately, it could allow your beneficiary to take over the mortgage loan and repay it. To do the second, the bank would need to be comfortable with the beneficiary's finances after your death. The bank may accept the alternative if your life insurance and other assets provided sufficient income to pay the mortgage and give your dependents an acceptable income to live on.

Another way to deal with mortgage insurance when you get a mortgage is for you to insure your life for the mortgage's full value. This would supplement existing regular life insurance coverage. However, this does not look holistically at your finances, so I do not think it is the way to go. You might not need more insurance.

Mortgage life insurance sold by a financial institution can be expensive and has disadvantages. First, the insured amount falls as the mortgage balance drops over the mortgage's life, but the premium does not fall. Second, unlike a term life policy, the bank has the right to hike promotions. Third, it is not portable. So, if you switch your mortgage, you need to reapply for life insurance with your new bank.

You would be better off to review your financial affairs and if needed, buy extra term insurance from an insurance company. You would own the policy. The financial institution would not. Your spouse or others you choose, would be the beneficiary, not the bank. And your spouse or dependent would have the choice to take over the mortgage, if that alternative was best for them.

Like all financial decisions, listen, hear, and understand your alternatives, and let the Lord guide your decision.

(C) 2011, Michel A. Bell. …

Oct
28

How to Make Money Online – Where to Start?

Have you decided that there must be easier ways to make money than working day in, day out, 5 or 6 days a week? You typed in “How to make money online”, or “Ways to make money on the internet”.

Google gives you hundreds of pages with article websites, dedicated websites to making money and hundreds of ads on the side, promising to make you $100,000.00 in one month. There is almost too much information out there. AHHH where do you start?

After much searching and looking and trying different methods, I have decided that the best way to begin making money online is by affiliate marketing. This involves finding products people are selling, promoting them and receiving a commission on the sale. This way you don’t need to handle stock or have expensive overheads, and yet make quite a lot of money.

Affiliate marketing can still be quite confusing and if you are not careful, you can spend hundreds of dollars without making a thing. To get your head around the basics of how to be successful, and put your efforts into the right areas, I would recommend investing in a course which steps you through how to start, what to do first, what to do next etc. A big bonus of doing this will be that they tell you the things to avoid, and how to stop wasting money on advertising which will not make you money. I wasted a lot of time and money when I began, trying to work it out myself.

Ok, so we have decided to do affiliate marketing, and now we will pay some money to learn how to do it, which one do you buy? A search on Google will give us another huge list of sites promising to make us thousands in a day, or hundreds of thousands in six months. Which one do you choose to help you make money online?

Here are some pointers to look for when you visit these websites, which will hopefully help you to make a good choice when deciding on an affiliate marketing course.

1. Have they put their face to their website? – A site which offers a training package should at the very least prove that they are a real person, not someone trying to grab your money.

2. Are they charging a once off, or a monthly fee? – A course on how to make money online should only charge once for just providing information. If they are also providing another service, then it may still be worthwhile. There are programs out there which will provide product finding, keyword tracking, website hosting and results tracking as well as training.

3. Some training providers will offer bonuses and free information for joining. – This at least shows they have information and are willing to give something, not just take.

4. Have other people used it and been happy? – Testimonials show that someone has used the training and been happy.

Good luck …

Oct
28

Small Business Marketing – The Power of Web and Print

Small Business Marketing is a foundational aspect of business success. Even if you employ a professional to market your products, you can still do a lot yourself. Anything you do to get the word out about your business and its services or products could be the one thing that brings the perfect buyer. With so many options, which are the best small business marketing methods?

Here are a couple to consider:

Internet

The majority of businesses today do not have a website. This is amazing to me because having a website is vital to today's business. It is no longer an added benefit; it's necessary. The good news is it's not hard to get one made and make it good. But you should employ an experienced web designer to do it without you being skilled in web design and could do it on your own.

I repeat, SKILLED. Just because you can put a few words and pictures together for a page and make it live is not good enough. It needs to shine. In today's business world, most people's first contact with you will come through your website.

Think about it. If you want to learn about a company, where do you go? The county records office? No, you go online and type the name in. It's that simple. And believe it or not, the first time you see their name and the opening page of their site you are making multiple assumptions and conclusions about that person or business. Do they appear professional, or do they appear amateurish? Are they artistic, or are they dull? Is there a sense of organization here, or is it so confusing you have a hard time deciphering up from down and left from right?

The website must be clear, artistically designed, and comprehensive. The extra time and money put into this will make a difference. I have worked with one person in particular who has a great business website. Dozens of people have told him that they absolutely love the website and it was one of the ruling factors that led them to do business with his company. And these are people investing many thousands of dollars, involving high levels of trust. His experience with his website is a good illustration of the power of a professional, well designed site.

Your website is a platform to show people who you are, a short history how you came to be in the business, some photos of your work, possibly a story of a thrilled customer, and ways for customers to reach you. In addition, you can include a blog page on your site because fresh content, added to your blog as often as possible, will bring lots of traffic to your site. As a general rule, the more you add fresh, keyword-focused material to your blog, the more the search engines will like you up and send viewers to your site.

For your blog, you can add all sorts of product or service …

Oct
26

Small Business Ideas Brighter Than a Thousand Others!

With the recent increase in tug of wars between huge companies, the economy is struggling to keep the rope from drinking apart. If people do not have the money to buy goods, the company will fall apart and so will the tug of war! Getting to the top takes time, patience and consistency. No one started a big company altogether; they started out small and followed certain business ideas. They had mentors and good friends and took help from other professionals time to time. Success comes at a good price, be sure you are ready to pay for it!

Due to the recent fall in the economy, some small businesses suffered a lot. Some were even eliminated from the market. Although there are strategies to keep your business running, a sensible business should always be ready for surprises. Some of the effective small business ideas include:

1. Small workforce: your business is called small for a reason. Do not actually take a lot of workers, start with a few and see how many you need. Based on the average assignments you receive and your annual profit, a mentor can advise you on the number of employees you need. Also, management is a factor with such a large workforce. If they are not managed well, they might not be working properly or to their full potential. So unless you really need human labor, do not just employ them and have them sitting idle. This is one of the small business business ideas.

2. Machinery: except and until you are really sure that you need automation and machinery, do not jump for them; they are expensive and can raise the initial expense of your business. A business mentor can advise you about purchasing machinery depending on your assignments and number of employees. Only buying machinery is not enough, make sure they are paying you more than they ask! One example of a small business requiring mass production is the order fulfillment and packaging company.

3. Ask for help: when things are not working out very well, do not hesitate, ask for help from the professionals. Yes they will cost you a good amount but they can help you in the long run. Mentors and business professionals are those people who have been in the situation you have been and overcame the difficulties successfully. They not only have experience in your field but can advise certain tactics and approaches that might help you instantly.

One benefit of small business is that your expenses are small, so maintain that! With a small business, you have more chance of learning than implementing. Grow bigger through your small business ideas, do not shrink back! …

Oct
26

Is a Business Incubator Right for Your Business?

What is the Purpose of a Business Incubator?

Business incubators are organizations that nurture the development and growth of businesses in the early phases to help them persevere in their most vulnerable stages. Incubators provide numerous resources and support services to aid in the development of businesses. The general purpose of incubators is job creation, business retention, enhancing entrepreneurial climate, growing local industries and economies. Approximately 93% of North American incubators are nonprofits focused on economic development. About 7% are typically set up to receive returns from shareholders investments. (Business Incubation FAQs)

What to Expect

It is important to conduct research on the incubator (s) and consider the advantages and disadvantages before embarking upon application process and working with an incubator.

  • Conduct Ample Research: It is important to understand that incubators will have their own set of unique offerings for their entrepreneurs. The package offered should help meet the needs and goals of the company. The location of the incubator should allow for a flourishing business, with a market that can sustain the business for the duration of the term of stay. The mentors and specialists available should also have experiences and networks beneficial to your business.
  • Related costs: Some incubators will charge monthly fees, like a typical leasing agreement. However, other incubators may accept in exchange for equity. It is beneficial to consult with an attorney to review the terms and contract.
  • Speak to alumni: If the incubator has a list of previous tenants, speak to them about their personal experiences. This first hand testimony will give you further insight and help you determine if the incubator is right for your business.
  • Prepare your proposal: If you decide to apply, be sure to prepare and rehearse your pitch and distinguish yourself from other businesses and business owners. Incubators want businesses that are sustainable. In your proposal, be sure to discuss how your business will succeed with accompanying financial projections.

What are the main business models?

As mentioned previously, each incubator will have a unique set of offerings. The list of business models below should give you an idea of ​​what to expect as you conduct your research.

  • Rent Model: Rent is charged to businesses which can help incubators be self-sustainable. In some cases initial rents are subsidized. The subsidy rate typically decrees over time to gradually introduce commercial discipline to the business.
  • Equity Model: Incubators take marginal stakes in the business, usually in exchange for low rent periods.
  • Royalty Model: Royalty payments are made based upon the amount of revenue earned by the business.
  • Deferred Debt Model: The services offered to the business, as well as the overhead is charged at a determined upon future date as an incubation fee. The incubator could decide the repayments (partial payments or lump sum) are due when the business leaves the incubator or when the business reaches an agreed upon financial target.

What are the main advantages and disadvantages?

Advantages

  • Low cost workspace allowing for reduced overhead
  • Offered resources such as mentorship,
Oct
25

How to Build Your Online Business

Find other entrepreneur groups who can give you ideas on how to start an online business and find a good coach who will help you get started. In order to succeed, you must me coachable, duplicable, have a willingness to learn with a positive attitude and work at least 10 to 20 hours a week. You will need a blog but, before you start your blog, you must register a domain; you will need to buy a hosting service and an auto-responder that will send follow-up emails to your prospects. When starting your blog, make sure you have an opt-in section so you can collect names, emails and phone numbers. Once your blog is up and running you will need to start advertising.

When writing your blog you will need to use the right keywords and phrases to be seen on the search engines like Google, Bing and Yahoo. Write new content everyday so you can get found easier on the search engines and make sure you use rich-content words. Spread the word to your friends and family, share with friends on Facebook and Twitter, attend network meetings, give out business cards, and send out business cards when you mail bills, post flyers on billboards, and create a page on Facebook and Twitter. Ask your friends and family to spread the word about your business and ask for free leads. When ordering over the phone, tell the customer service represented to look at your website. If you are in an MLM start recruiting others into your organization to grow your business. The more people you recruit, the more your income grows. Another great way to advertise is to write articles and participate in online forums and newsgroups.

As you attract new prospects every day, you will need a database to keep track of them. Outlook has a great contact manager. Once they are in your database send them an email to see if they got the information on your site. Also, use emails to build relationships with your prospects. Once you build relationships with your prospects move them towards a call. If you have a video on your site take them to the video so they can watch it to see what your company is all about. Videos are great tools for your business. If the prospect is interested then have them join your team.

Encourage your prospects to join online meetings, conference calls, take them to YouTube videos and share information that has a lot of content about your business. The more your prospects participate in online meetings, YouTube videos, and conference calls, the more knowledge your prospects will have about the business you are promoting. Make sure you coach them with the tools and skills they need to build their business so they will also prosper. Always make sure you answer their questions if they have any and, if you are not sure about their question, call your coach or the company you are representing.

With social media …

Oct
24

Saving Money Grocery Shopping: 5 Tips To Keep Your Wallet In Once Piece

With inflation and food prices rising, saving money grocery shopping can seem like an uphill battle. However, there are certainly a few key tips you can use to make sure you stick within your budget with money to spare. Here are 5 of the best tips for saving money at the grocery store…

1. Stick to the Perimeters

Healthy eaters already know that the perimeters of the store are the places to be, but this applies double to people trying to save money grocery shopping! Instead of cruising the center aisles for pre-packaged and processed items, stick to the sections on the outer edges of the store where raw or unprepared ingredients are sold. These include the produce section, the meat counter, the bakery, and the dairy.

2. Don’t Shop Hungry!

I’ve worked at a grocery store, and I can’t remember how many times I’ve heard shoppers say, “I shouldn’t have come here hungry!” Make sure you have a full stomach when you go to the grocery store, so you don’t end up shopping with your appetite instead of your brain. You’ll avoid impulsively buying tasty-looking items that you don’t really need.

3. Sales, not Coupons

Clipping coupons is fine if you have the extra time, but it’s not nearly as good for saving money grocery shopping as simply looking out for sales. You can save 30, 40, and even 50 percent on your grocery bill if you stick to buying the produce items and cuts of meat that are on sale that week. If you eat a lot of meat or fish, ask your butcher about upcoming sales so you can plan your meals accordingly.

4. Buy in Season

In the age of preservatives and quick transportation, you can get almost any fruit or vegetable year-round. However, that doesn’t mean you should! If you want veggies that are both delicious and affordable, learn the basics on seasonal produce and shop accordingly. You’ll end up with more delicious fruits and veggies, as well, since stuff that’s grown closer to home has more time to mature on the vine, in the ground, or on the tree.

5. Be Flexible

Most people trying to save money on grocery shopping make a list and rigidly stick to it every time they go shopping. This discipline is all well and good, but it may not be necessary. As long as you have a basic but flexible list of the things you need and the meals you want to make, you’ll avoid making impulse buys. You should remain flexible on the details to take advantage of sales you see when you arrive at the store. Just because you have ground beef on your list doesn’t mean you can’t take advantage of the 3.99 per pound sirloin steak sale!…

Oct
23

The Relationship Between Insurance and Finance

Insurance and finance are closely interwoven fields of business, not least because they both involve money. They also often both involve speculation and risk, and often where one goes, the other will follow. Take property investment for example, it involves a large amount of capital out lay, swiftly followed by insurance to protect the capital investment. It would be ridiculous to spend such a vast sum of money on a venture and not protect it against possible damage. It therefore makes sense to store information on these two subjects together, as the relationship is so logical.

Insurance is a form of risk management used to protect the insured against the risk of a loss. It is defined as the equitable transfer of the risk of a loss from one entity to another in exchange for a premium. There are different kinds of insurance for just about every conceivable event. The most common insurance is probably life insurance, which provides a monetary benefit to a decedent’s family or other designated beneficiary.

It can cover funeral or burial costs and can be paid out to the beneficiary in either a lump sum or as an annuity. Property insurance is one of the more necessary insurances as property is extremely expensive and if it is lost or damaged for some reason (fire, earthquake, flood) it can be very difficult to replace without adequate reimbursement. Travel insurance used to be seen as an unnecessary expense and is still viewed as such by many. Its importance is, however, being increasingly recognised by the public at large. It is cover taken by those who travel abroad and covers certain unforeseen events such as medical expenses, loss of personal belongings, travel delays etc. There are numerous other types of insurance, too many to mention, all vital if you want to protect something of particular importance to you or another.

In the world of finance there are many sub-categories, also too numerous to mention but a few will be included here. Forex, or the foreign exchange market wherever one currency is traded for another. It includes trading between banks, speculators, institutions, corporations, governments, and other financial markets. The average daily trade in the global forex is over US$ 3 trillion.

Tax consulting usually involves CPAs and tax lawyers in addressing any tax issues that you may have. There may also be Professional Strategic Tax Planners and Enrolled Agents, depending on the company that you hire. They will help you reduce your tax debt, eliminate tax penalties, an innocent spouse claim, tax liens, bank levies, and preparing unfilled tax returns, as well as any other tax resolution problem that you might have.

Property investment is usually when an investor buys property with an eye to generate profit and not to occupy it. It is an asset that has been purchased and held for future appreciation, income or portfolio purposes. In some instances an investment property does not have to be held for profit, as some landlords in New York …