Competition of Insurance Companies

Information about the insurance market at a glance

Local private insurance companies dominate the insurance market more common than joint venture (joint venture). Increasing the market share of local insurance companies than a joint venture because it is generally a joint venture targeting specific markets and market different from local insurance companies.

Local insurance companies dominate because more aggressive market penetration into areas while the joint venture only big city.

Five force model is a business strategy that is used to perform the analysis of the industrial structure. The analysis is based on five competitive forces are:

The threat of a substitute product
How dyantolife substitution for insurance? Are consumers can easily obtain substitute goods? The more close substitutes, then the customer can switch easily. Force is influenced by several factors such as switching costs, the tendency for substitution, product differentiation, and more.

The threat of the entry of new competitors
How difficult / easy for new competitors to get into your industry? This force is influenced by the brand equity, the barriers to entry such as patents, etc., distribution, or core competence of a particular skill, economies of scope, cost advantage, and more.

The bargaining power of customers
How is the strength of your customers? This force is influenced by: the number of buyers, the concentration of buyer, buyer switching costs, availability of items, big order buyers, price sensitivity, degree of differentiation, and so on.

With marketing and market penetration tactics that many insurance markets so customers can get a lot of choices to purchase insurance in addition to our company, if the acquisition or marketing teams are not careful in taking the market it will compete.

The bargaining power of suppliers
Supplier is the place where we purchased inputs used for production materials. Force is determined by several factors including: cost of switching to another supplier, supplier number, supplier concentration, availability of input substitution, differentiation level inputs, up to the level of supplier relationships.

• Supplier of insurance companies over the custodian bank. If the number of custodian banks more so we could have more alternatives in choosing a bank and custodian banks could choose higher interest rates, lower costs and better service.
• The selection of investment products as much as return on bonds, mutual funds, money market, equity could be an alternative choice of investment companies that can return a higher member.   

The intensity of competitive rivalry
How does the intensity of competition in the insurance company? The more the number of competitors, with quality products and competitive prices, the higher the level of competition. Force is determined by several factors, including: the number of competitors, the difference in quality, customer loyalty, product differentiation, price differences, exit barriers, and so on.

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An Easy Way To Double Your Money

How to safely double the money is to save regularly, but a slow accumulation of small savings and interest we can not expect to grow our money in a short time, or it takes a very long time, it can be many years.

Another way to grow is to invest money. Just like a tree, the higher the tree, the greater the wind that reaches it. The greater the investment, the greater the risk that might occur. So, there is no standard size of investment, but investment is determined by the goals you invest and how much you dare to take the risk.

There is a wide range of investments with different risk levels. The investment is relatively low-risk government bonds and deposits. Investment is fairly stable, but the results are relatively low.

Other types of investments with greater risk is to invest in the stock market. Good market situation is very tempting because it can double our money. but the situation with lightning speed can be turned 180 degrees and destroy our investment.  

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Financial Freedom For Family

Most young people, when asked how close they are dreams or financial freedom, usually immediately took a deep breath. Maybe you too?

Unless you are very lucky early on in life, hard work is not an option for this purpose. Sometimes it takes a long time. You might just be able to reach it when the kids grow up, mortgage paid off, and you can take off work. But you must take the first step today.

What is financial freedom?

Short answer: When you are saving enough to support you so that you can turn away from the hard work and stepped out of the office without the slightest regret. Long answer is somewhat more complex.

Do not Wait for Retirement.
Most people achieve financial independence at retirement, with enough savings to spend days old without a monthly salary. You do not have to wait that long anyway.

Most people save for retirement. But if you want a free finance before that arrives, the approach should be different. Retirement planning with money that you pull later, at a point in time that is still far away. Financial Freedom with money that you can access as soon as possible. Or when you stop working.

Define and regularly review the Financial Goals

Determine your financial goals alone. When you want to achieve financial freedom? In 5, 10, or 20 years from now? Draw maps, place the achievement points. Routinely check your real achievements, compare with the dots on the map.

If you fail to meet the 2 points in a row achievement, most likely target you peg less realistic. Or something unexpected happens and disrupt your plans. Means it's time to draw a new map! 

Manage Your Freedom
Whatever your relationships-lover, marriage, or work together-you have to manage your financial freedom. Relationships often end. Make sure that when it happens, you can deal with comfortably. At least about money-and you can focus more on the emotional issue.

If you accept credit disbursement, please register everything in the name of spouse or partner only. Register your name anyway. This will help if you decide to start a business after a breakup. 

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Welfare Plan For Your Retirement Now

In order to keep an adequate life when they retire later, we need to raise funds from now by investing. A number of investment instruments could be an option, one through an investment program called Happy Fulfilled Retirement

We need to realize that when they retire there is no such thing as alimony, official cars and official residence. That means that if not financially prepared carefully from now, it could be old age can later poor.

Whoever wants to live when adequate retirement and quality of life did not decrease. The question is, how to plan retirement pension so that the target could be in line with expectations?

So it can be concluded that preparing for retirement needs that we could imagine it is the responsibility of each of us. We must do something. You are the architect of your future finances for each.

Maybe we do not realize our life's journey. Let's just started working at the age of 25 and retirement age of 55 years, the mean age of our work for 30 years. Starting retirement age of 55 years to death after 75 years. This means that we will be retiring over the past 20 years, the period of time that will cost a lot. People often assume that pensions do not need much, it's wrong. Not the cost of transportation, lunch and entertainment that cost much, but the cost of treatment required. How many people set aside old days, especially the cost for treatment.

There's only one reason to resist setting up retirement. Though setting up pension benefits for yourself and not for others. Some of the reasons for the refusal or delay retirement plan include:

1. There is already a retirement from the company
2. Still too young
3. There are many debt
4. Can not save

These reasons that will cause difficulties at the time of retirement. The younger one's getting better at preparing for retirement, because the funds set aside the less. Some things need to be prepared in the retirement plan:

a) Determine your retirement age. For example, 25 years
b) Determine the expected monthly cost equal to the amount of money at this time, for your retirement later.
c) Determine how long you are going to use your retirement funds. For example: 25 years after retirement.

What is the point in preparing for retirement?
1) In order not to lower the standard of living
2) No financial difficulty when his retirement
3) Can be independent when retirement arrives
4) No troublesome children or families.
5) Not burdened cost of healthcare, such as hospitalization, drugs, etc..

So there is no reason to delay the retirement plan, if you have difficulty in determining it. Please contact your financial planner or simply follow the program Happy Fulfilled Retirement

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10 Insurance [do not] You Need

Currently, there are many offers and all insurance costs are not small. However, the value of the coverage you need to learn carefully and wisely. Before buying any policy, make sure you are careful to make sure the terms, scope and cost.

In fact, there are many potential catastrophe insurance are less worthy of attention, such as the following insurances:

1. Private Mortgage Insurance
It is insurance protection against losses the lender when the borrower is given a high risk. This insurance is only necessary if you are buying a home with a down payment of less than 20% of the value of the home.

2. Insurance Warranty Extension
Insurance is available at stores that sell electronic equipment. From the point of view of the consumer, the warranty is very rarely used, especially in small electronic items such as DVD or radio.

3. Car Accident Insurance Protection
If you have a loan on the car, lenders tend to require that you have an accident insurance because insurance is designed to cover the cost of vehicle repairs. If your car is paid off, the insurance is not that you need.

4. Car Rental Insurance
In fact, most people rarely rent a car. Even doing so, although the cost of insurance is relatively inexpensive, when amortized over a lifetime may amount you spend will be greater than the benefits.

5. Cheap insurance
Your personal life insurance policy should already cover catastrophic.

6. Life Insurance for Children
Statistically speaking, most children grow up safe and healthy so that parents do not have to buy life insurance for their children.

7. Flood insurance
Unless living in a troubled region with a history of flooding, you should not bother buying this insurance.

 8. Credit Card Insurance
Bids stating the credit card insurance can pay the bills due to your failure to pay it off, but this is just a waste of your money. Better you minimize the use of credit cards so no need to worry about the bill.

9. Life Insurance for Home Loans
Rather than add a policy for this insurance and other bills, it makes more sense to get a regular life insurance policy instead.

10. Specified Disease Insurance
Polis is usually reserved for diseases such as cancer, heart disease, and others. Instead of identifying any possible diseases that you may face, got this kind of policy coverage requires accurate medical clarity.

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Insurance Industry Prospects 2013

Fitch Ratings global ranking institutions assess the prospects for both the life insurance and losses in 2013 will stabilize at a sustainable premium income and strengthening regulations that support the industry.

As quoted by the Asia Insurance Review, Fitch has provided an assessment of a stable outlook for the insurance industry in 2013. It is driven by the increasing prosperity in the world, which is very less market penetration, and increasing awareness of the risk of catastrophe.

The impact of the minimum capital policy, the number of players because the insurance industry will shrink smaller and weaker will join with other companies to meet the new capital requirements or forced out of the market. Over the long term, this will help insurance companies develop a greater awareness of the risks and enhance their ability to manage capital resources.

Fitch also considered foreign ownership in the world market could rise because of the growth of the insurance market in the United States, Japan and South Korea are fast.

However, Fitch noted it is still negative as the insurance industry's growth prospects in the world that is plagued with limited institutional transparency, minimal public disclosure, and risk management needs to be strengthened. Fitch, however, believe that stakeholders in the insurance industry will improve by strengthening regulatory requirements and increasing interest of foreign investors.

In addition, Fitch also notes the industry emphasizes stable outlook may come under pressure from potential catastrophe losses due to risk reduction. 

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The Importance of Life Insurance For You

Money management indecision and anxiety of life insurance in retirement is a problem cliché that we often encounter in everyday life. Adequate current salary does not guarantee that we avoid the risk of a variety of personal financial abominable. The reason could be because the wrong investment, poor financial management, or even lack of adequate planning future plans. So if there are unexpected expenses make us have to seek loans to and fro.

All the anxiety that can be overcome if you know about the great benefits of an insurance service. Granted, not everyone knows how to choose the insurance company that they can really count on. The assumption of insurance is only useful when you have a disaster are still there in most of our communities. No one did, but if we are keen to seize the opportunity of the insurance services offered, assuming it would be shifting toward a more moderate again. Insurance not only can you count on when experiencing something or disasters that are sudden, but it can also be a profitable investment for you and your family.

Insurance companies will answer all your anxieties. You also must be smart and observant in choosing an insurance company, and you also have to look at the performance of an insurance company whose graph kept climbing or always increase, it can be seen from the steady improvement of the company's financial year.

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5 Things to Consider About Health Insurance

View of the current hospital as more and more congested. Therefore, various diseases come and go which makes people even more vulnerable to attack. Ranging from mild such as a runny nose or cough, to very risky as cancer, as more and more familiar with our society.

Therefore, the portion of medical and health care should be a priority now. Therefore, if at any time sick, sometimes the cost is not small. Moreover, if it had to do surgery or medical treatment due to a variety of dangerous diseases.

Therefore, the health insurance needs to be considered. Because, at the time of the emergency, health insurance will be the solution in terms of financing and hospital care.

However, there are some things to consider before choosing a health insurance. Here are some things that need to be understood more ..

1. Consider the track record of the insurance companies that offer health insurance. It is important to know how condition of the company, professional firms, and its services over the years. The more bona fide and good history of the company, usually the better the various types of insurance offered.

2. Learn and find out more about how the insurance company's network to hospitals there. Primarily, the      pain is all around us and the hospital has facilities for serving a wide range of diseases.

3. Know what kind of health care that are covered by insurance. For example, if a critical illness cover as    heart disease, cancer, and other diseases. Then, if also serves hospitalization and / or treatment of the road. Also, get also related information about the claim payment. By knowing this, we would be more assured when choosing insurance.

4. Understand all the written agreement of the policy, especially that we receive. For example, what classes will be given to us, when to begin the coverage period, and various other things that will bind us when choosing insurance. Do not hesitate ask the people who know if you do not know what is in one grain agreement. Including, for example, whether the money could be paid if in some period of time does not occur claim.

5. Health insurance is one solution. But, the real key solution is to stay fit. Therefore, The best step is to keep in shape and trying to distance themselves from a variety of sources of disease. 

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Rich with Insurance

Most people work a lifetime without doing financial planning for old age, and in the old days they did not have anything. Some savings, but because interest rates are very small, and the money that goes in the bank will be eroded by inflation. And only a small fraction of people trying to achieve financial freedom by investing and insurance since early.

It's not just a dream and not wishful thinking. If you've been thinking about investments and insurance, it's a sign that you do not want any lack of something in the future.

Because, there are still many people who are proud of the wealth today only, while for the depanya she hoped solely from revenues next month. How can they enjoy the fan-fanning future without stress?

Nowadays, many people think about how to work as long as possible to collect as much money as possible. In their minds they think about retirement a quiet and well established full assurance is saving a few tens of years of work and pensions from the company where they work.

Are you one of these ..? still expect kindness your employer, to provide an adequate pension ..?

I think you people are pretty realistic, so you better plan your future by investing and insurance. Because by investing and insurance is the right way to achieve the expectations of the Old Rich and Prosperous.

So, every decision is yours. The principle is simple "Old Rich and Prosperity" will be created thanks to a step that can not be ignored, and you need to do right now, at this very moment is the Investment and Insurance.

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Insurance Claims, Problems and Solutions

Insurance is easy entry, but his claim hard, been paying premiums for two years, so the claim is not paid or compounded Maybe that's a small portion that is your minds, so that you do not want to take an insurance policy.

Actually claim a right earned by each customer insurance. And of course the insurance company will pay the claim, the liability of the customer are met. Let us consider the mechanism of Claims, Claims that you'll get paid. And of course you are still antipathy about insurance so open-minded, so as soon have the insurance policy.

The purpose of the claim is to provide benefits in accordance with the provisions of your policy. In order for claims to be processed and paid, note various important provisions regarding the filing of claims.

Before submitting a claim, make sure you have the appropriate benefits to those listed in your policy. Example: You only have life insurance only, it automatically if you file a claim hospitalization, certainly not the insurance company will pay the claim. So go back and check the insurance benefits you have taken, make sure you have insurance that will benefit you claim.

You must make sure, too, that your policy is still in a state of inforce / valid / active. So that you are always in a state policy inforce, make sure you make a payment / transaction on a regular basis (especially in the first two years).

Make sure also, Polis is not in the waiting period. That waiting period is a time of coming into force of your insurance coverage. Example: for the protection of hospitalization due to illness, such as diarrhea, dengue fever, urinary tract infections, typhoid, etc.. Waiting period is 30 days from the receipt of the insurance customers. Remember also that the requirement for a claim usually must be hospitalized, could be at least 1 x 24 minutes or 2 x 24 hours.

So before the claim is made, check the criteria claim to be filed or contact your agent for help. After ensuring the above match, then as soon as possible to make a claim (claim submission), as it will expedite the claim process.

General Stages of Claims Processing follows:
1) Claim Form completed by Insured / Participant / Policy Holder / Heirs (claims for death), to include a certificate from the doctor. 

2) Insured / Participant / Policy Holder / Heirs peninjung submit documents to the insurance company claims, such as receipts, results of medical records, lab results, police report (if the claim for an accident), and other required documents. 

3) Include Policy Number and Account Number with your right, and Signed Claim corresponding signatures that exist within the policy, include a self-identity as well (FC ID / Driving License / Passport). So make sure you have included Policy Number and Account Number Policyholder a clear, complete and correct. 

4) Insurance Company will conduct validation and verification of the supporting documents to the Policyholder / Insured / Heir and the doctor or hospital if necessary. 

5) If the results of the validation and verification by the insurance company are in accordance with the regulations, the payment of claims will be processed by the claims. 

6) Insurance benefits will be paid / transferred to the Policyholder / Insured / Participant / Expert Waris.Value Of Trust  

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Tips & Advice About Insurance

5 Things to Consider About Health Insurance

View of the current hospital as more and more congested. Therefore, various diseases come and go which makes people even more vulnerable to attack. Ranging from mild such as a runny nose or cough, to very risky as cancer, as more and more familiar with our society.

Therefore, the portion of medical and health care should be a priority now. Therefore, if at any time sick, sometimes the cost is not small. Moreover, if it had to do surgery or medical treatment due to a variety of dangerous diseases.

Therefore, the health insurance needs to be considered. Because, at the time of the emergency, health insurance will be the solution in terms of financing and hospital care.

However, there are some things to consider before choosing a health insurance. Here are some things that need to be understood more ..

1. Consider the track record of the insurance companies that offer health insurance. It is important to know how condition of the company, professional firms, and its services over the years. The more bona fide and good history of the company, usually the better the various types of insurance offered.

2. Learn and find out more about how the insurance company's network to hospitals there. Primarily, the pain is all around us and the hospital has facilities for serving a wide range of diseases.

3. Know what kind of health care that are covered by insurance. For example, if a critical illness cover as      heart disease, cancer, and other diseases. Then, if also serves hospitalization and / or treatment of the road. Also, get also related information about the claim payment. By knowing this, we would be more assured when choosing insurance.

4. Understand all the written agreement of the policy, especially that we receive. For example, what classes will be given to us, when to begin the coverage period, and various other things that will bind us when choosing insurance. Do not hesitate ask the people who know if you do not know what is in one grain agreement. Including, for example, whether the money could be paid if in some period of time does not occur claim.

5. Health insurance is one solution. But, the real key solution is to stay fit. Therefore, The best step is to keep in shape and trying to distance themselves from a variety of sources of disease.

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Health Insurance, solutions for the self-employed

Individual health insurance is very necessary for you as an entrepreneur, for those of you who run your own business is different from those working as employees in a company because usually employees of a company (especially a large and established companies) usually obtain health insurance from work place they work, so they are not too worried for hospital care cost problem when their health impaired, because all or most of the cost of hospital care costs will be covered by health insurance.

Moreover, an employee also has a relatively fixed income every month while you are running your own business is certainly earning his monthly erratic, sometimes a lot more can ya loads but when more slack may be ngak no income at all.

For that is where the role of "individual health insurance" should be utilized because as you know insurance is where you transfer your risk is halal including the risk in terms of your health, which means that you can set aside a small portion of your funds for the unexpected things in this case is the risk your health in the future.

You always try to maintain your health and fitness, but when health is compromised at least you got a handle "individual health insurance" that will cover all your costs start from when you are sick until you are out of the hospital, there are even insurance companies that provide all facilities cost of care after hospital discharge borne by "individual health insurance", yeah well everything fits that bill to a maximum of 90 days after hospital discharge.

Facilities provided by "individual health insurance" as it is of course very suitable for you, because it can be when you're drag income and uncertainty you have health problems? if you do not have health insurance will definitely be quite a hassle you and your family of course, and you certainly do not want to pester your wife or child is not? especially until they had plaintively ask someone for help?

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How to Easily Design Your Own Retirement

What do you think about your retirement future?


Is not that age should we stay break and enjoy the old days? So how in order to enjoy a comfortable retirement so as not troubled by financial problems? And what should be done in a productive age in order to be able to retire in peace? The solution: Prepare everything from now on!

Open an account for old age / retirement is one of the solutions to anticipate the financial problems that may occur during retirement. In general, we work from the age of 25 years up to 55 years usi. Assuming we reach the age of 75 years, the life span of 50 years (75-25) must be financed from the income for 30 years (55-25) works. This means income for 1 month should be used to finance 1.7 months of life during (obtained from the 50 divided 30).

So in conclusion, on the basis of the above data we can not spend all the income in the first month. We must set aside some revenue for the "provision" in the old days later. Having investments such as pension insurance will help to realize you achieve a prosperous retirement, in addition to the pension insurance will also minimize the financial problems that may occur. Maybe you'll be wondering how it works Pension Insurance, and how to obtain such insurance.

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Insurance Education a Solution for the Future of Children

Children are a priceless gift from God, and our job as parents is to give the best to him. The best gift for a child is when he earned the right as a child, the best education.

Meanwhile, the cost of education has increased an incredible height. Let us recall, some time ago, when we (the parents) are still in school, how much do we spend? Is the cost the same, are able to educate our children? Let's figure out how much you should prepare for your child. Assumption: Your child is now 1 year old, there is still 17 years until he entered college.

Do not forget to also calculate the cost of other equipment such as tuition fees, living expenses, tuition fees and other components, which have not been considered above. 

We have 3 options:

 1. You do something

 2. You do not do anything

 3. You do everything

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How to Choose the Best Insurance Companies

Growth in insurance agencies that are not accompanied by an increase in the quality of service, excellence program, and financial strength of the company, it will backfire and harm the customer in the end. Use the 8 (eight) telling indicator is to find you the best insurance companies. Do not get because of the negative rumors or insurance information of the offenders who are not responsible, then have to keep you and your family from the very noble function of insurance.

Rapid growth and is not accompanied by an increase in the quality of service, excellence program, and the financial strength of the company, it will backfire and will harm the customer in the end. Therefore, it is necessary to know how to choose the right company to become asset managers and plan your financial future.

Some of the things on which the considerations are: 

1. Ranking companies  
2. Age company  
3. Corporate network 
4. Financial performance of the company 
5. Customer service standards of service 
6. Performance company 
7. Vision and targets enterprise 
8. Cooperation sale 

By using eight indicators mentioned above, would be able to help you reduce the risk of the wrong choice then the results are not satisfactory service with the program and the performance so far behind in comparison to other competitors. Moreover, the insurance program is projected to need very long. Do efforts to prove to the indicator with a professional agent or a reliable source. Do not get because of the negative rumors or insurance information of the offenders who are not responsible, and should keep you from the insurance function that is very noble.

image : Germani Insurance

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