Most of the people in India choose car insurance policies based on premiums. They go with the policies where they have to pay less premiums. But, this should not be the only parameter to choose the best car insurance in India.  to know more. It is because, at the time of claim settlement, the insurer may reject the insured’s claim which he might not have mentioned when the car insurance was taken.

Choosing the best car insurance in India is, therefore, not an easy task. You need to consider various important factors before you choose the best car insurance in India. To know more, click here.

Factors you need to consider while choosing a car insurance

Customer service

If you are going for an insurance policy, the very first thing that you should check is the services provided to you by the insurer. The more the insurance company is flexible with their terms and conditions and services, the fewer problems insured will have during the policy period. So, you need to check these things mentioned below, before having a policy:

• Customer support & it’s functioning
• Their claim settlement graph
• Customer review
• Availability of policy as per your requirement
• Goodwill and number of years in the market
• Cashless garage network

Minimum cost with high coverage

At the time of applying for an insurance policy, pay for those risks which can cause damage to your car in the future. It is best to choose a plan whose premium is reasonable and provides you with high coverage.

Flexibility in the coverage:

It is your car which is going to be insured. So, based on your specific needs, you should avail an insurance policy. Check that the risks, which you want to get insured are provided by the insurance company or not. Personalize your insurance policy by choosing the riders of your choice, for additional coverage at additional cost. There are some essential riders which are to be considered, these are:

• Roadside assistance
• Personal accident cover
• Zero depreciation
• Engine cover
• Ambulance and medical expense cover
• Rental reimbursement cover

Online car insurance policy comparison:

It isn’t very easy to choose which insurance policies suit you the best. Compare the plans online and check the coverage you are choosing is worthy as per the premium or not. To select the best car insurance in India, compare online the premium, benefits, and limitations of the policy.

Choosing the best coverage for your car insurance:

Before choosing the insurance plans, you need to check what type of coverage you should avail. The third-party liability coverage is mandatory, whether you choose or not you have to avail it. But the comprehensive coverage is optional. This is the functions of these two coverages:

• Comprehensive car insurance policy: This is a broader concept of the third-party liability car insurance plan. As it not only covers third parties’ liabilities but also covers the insured vehicle as well from moth man-made and natural disasters. But for this extended coverage, you need to pay more premiums.
• Third-party liability car insurance: This insures the damages caused to the third party due to the insured.

Service distribution network:

The insurance company that has a broad range of the network is favourable as you’ll get insurer’s accessibility for 24×7 hours.

The points, as mentioned above, were the parameters based on which one should select the best car insurance in India. Before purchasing any policy, read the terms and conditions thoroughly, so that at the time of claim settlement, you don’t have to follow any claim rejection issue.

Not everyone is eager to block a lump sum of investment in one go. If you are looking to invest in mutual funds through regular instalments, the Systematic Investment Plan (SIP) can be a way out for you.

Having chosen SIP as your preferred investment route, you must diligently review look into your SIP account statement. The statement is the detailed overview of your SIP holding provided by your fund house. It is crucial to understand the report and what to expect from it before making an informed SIP investment decision.

What are the contents of a SIP statement?

Your SIP statement contains the following information:

• Personal details – Name, Address, Email ID etc.
• Your folio number
• Mode of holding the SIP – A single or joint investment?
• Status of KYC – Know Your Customer details
• Your nominee
• ISIN – International Security Identification Number
• UCC – Unique Client Code linked to your PAN card
• Date of Investment
• Amount of contribution
• Net Asset Value (NAV) of the fund on the date of investment

What is the significance of these contents?

At first glance, the SIP statement reveals your contributions and the fund’s NAV. You can calculate the number of units you hold by dividing the amount by the NAV of the fund.

Number of Units = Amount of Contribution / NAV of the Fund

The statement also shows you the value of your entire SIP holding from the time you began investing.

Why should you review the statement?

Reviewing your statement is vital for two reasons:

• Transactional purpose
• Administrative purpose

Keep a close watch on the dates when your SIP money is debited from your account. Also, look into the amount and check if the amount mentioned is correct. Your SIP statement reveals the current status of your continuing investment, and all the details stated therein must be accurate.

Reviewing your statement holds value. This is because it helps keep track of your investment and further guides you in how to invest in SIP efficiently.

What you can do if you notice discrepancies

A contingency may arise where you realize that some details are incorrect or there is a missing record. In this case, you must approach the fund house or the respective Registrar and Transfer Agent (RTA) for the concerned correction to be made. Your statement will include the contact details of the fund house and its RTA.

Why you need to stay invested despite market volatility

If you notice fluctuations in your holdings throughout your statement, do not let panic sway over your judgment.

Staying invested can help realize your long-term mutual fund investment goals. The equity investments in your SIP are subject to market volatility. But it must not be forgotten that they are for the long term and if held for an extended duration, it can help meet your financial objectives.

Conclusion

Your SIP account statement is an opportunity to conduct a retrospective analysis of your mutual fund investment. It can help you forge ahead through your investment journey steadily. SIP, as a scheme of investment, imparts financial discipline, owing to its nature of regular investing. Remember, that a well thought out SIP investment outlook can bring you good yields in the long run.

The term private equity companies, has turned out as an issue of admiration and envy in the 21st century economy. The emotions are evoked in the hearts of nearly all CEOs of various firms depicting fear. In the past years, private companies have earned huge sums of cash that now it’s even becoming controversial. The vast amounts of ROI are a result of stalking significant acquisitions that have not been seen before. Besides, the buyout of the firms have risen in value to nearly $1 billion. The significant profits realized from setting up the companies have attracted many people into the sector. Nonetheless, it requires a well-organized innovator to succeed in starting the firms.

What you Need When Starting Private Equity Firms

1. Incorporate Companies

Forming legal entities is crucial before conducting business. Limited liability companies and limited partnerships are among the most common legal entities for private firms. With this, investors have protection through limiting losses to the cash they invest. The protection comes through the efficient processing of taxes. The legal process must be followed when handling this process.

2. Form the Right Team of Experts

An investor must have the confidence that his or her money is getting placed in safe hands. In the case where you deal with a highly experienced team, high chances of success exist. Tracing the records of identified experts will help you to realize the ones with the potential of taking a company to higher heights. The task of selling a strategy and finding requires knowledgeable professionals.

3. Developing Unique investment Plans

When you intend to become successful in the issue of garnering funds, you must walk out of the usual tactics adopted by other firms. With robust decks of credentials, you should come up with unique selling points. The business plan is a significant reason why interested venture capitalists may choose your startup. Define the sector of business that you want to venture in the plan. Moreover, it’s necessary to get into a department where you are skilled. Furthermore, in your strategy, you must show reasons why the company will manage to reach the targeted points better than other equity companies in the same market.

4. Garner money for Capital

To run companies, you will require a huge sum of money. Therefore, you must organize the way to raise such amounts. Investors are the right people to target. Create an investment plan and display your idea to lure venture capitalists. Since private equities are seen as risky ventures. Governments regulate who solicit investments to what investors. Therefore, look for sponsors from large financial organizations like banks, insurance firms, and pension funds.

5. Cybersecurity Concerns

Private equity firms are vulnerable to online crimes. Private information, account details, and money are lost when the company is not keen. Therefore, IT and cybersecurity experts are required. The experts are responsible for the formation of infrastructure that has a secure configuration. Furthermore, the technicians are tasked with the protection of systems and portfolios through evaluation and monitoring from cyber-hygiene perspectives. However, it’s essential to work with a trusted cybersecurity firm like Agio, which is a hybrid IT and cybercrime protector.

Read more about how to start a private equity firm

Customer Relationship Management (CRM) is a vital business management tool for banks and other businesses. It is a primary determinant for companies to change their face by assisting in marketing new customers, automation of everyday tasks, dealing with shutdown/closures, and facilitating great support services. Enterprise CRM with AI advantage for the Banking and Finance industries is no longer an option but has become a compulsion for the success of the organization.

But for the banking sector, the perks of CRM software are very lucrative. SimpleCRM software helps banking staff to work more productively to retain customers and augment the bank’s bottom line. Some of the prevalent advantages of CRM software in the banking sector are:

• CRM is capable of customer retention and it can easily convert a mere account holder into a satisfied, conducive, and loyal customer.
• CRM is helping bankers to strengthen their customer relationships and handling more customer accounts in less time by eliminating repetitive tasks. CRM is the right technology in place that is increasing banker’s productivity.
• The sales module of CRM assists banks in sales management by identifying and converting leads into potential customers. By using past track records of the bank, CRM helps in the acquisition of new customers.
• CRM enhances the capability of the marketing department and leads to more effective marketing efforts. The report generated by CRM highlights the purchase behaviors, data points, and engagement channels of customers that make it easy to develop marketing strategies for the engagement and retention of customers.
• CRM Omnichannel support system for banks is used for core activities of targeting, acquiring, understanding, collaborating, retaining customers. CRM Omnichannel also integrates modern technology, enables the latest brand strategies, and rejuvenate by new trends constantly.
• CRM software is assisting bank call centers for many purposes such as inter-department communications, interactions with customers, automating communications, and monitoring of the conversations about the products and brands of the bank across different online media.
• Personalized customer relationship is the ultimate objective of CRM software. CRM supports bankers to provide customized services to every customer. CRM assists in planning the marketing strategy by providing complete information regarding the preferences, needs, and behaviors of every customer on a single platform.
• The quick automated response by CRM enables better customer support services. CRM improves customer experiences by assisting banks in knowing the desires of customers, building personal relationships, furnishing quick support, and maintaining an ongoing journey.

SIMPLECRM

It is more important to be the bank of their customer love with optimal CRM implementation. ”SIMPLECRM” is a robust Enterprise CRM platform with the capabilities of Intelligent Automation (AI). ”SimpleCRM” is the place with proper CRM technology that can assure your bank to reap maximum benefits out its customers and provide the same. It is a single platform for multiple touchpoints like:

• SimpleCRM Digital Marketing
• SimpleCRM Omnichannel Support System for Banks
• Business Process Management (BPM)
• Enterprise Mobility Solutions
• Sales automation

With SimpleCRM technology, it is possible to offer high flexibility and customization capabilities to banks. It provides all customer-facing employees, the tool to engage with clients on a range of devices effectively. Its data-driven analytics and contextual intelligence from external and internal sources can be presented on a single spontaneous dashboard that is so quick and simple to use for all kinds of users. SimpleCRM is so adaptable for any business type with its customizable automation tools. It comes with amazing features of lead management, sales management, and many more in addition to cloud integration of safeguarding bank data, enterprise mobility, customers 360 dashboards, AI-based chat boards, AI claims processing, AI productive analytics, and various automation.