Many people think that running an insurance firm is just as easy as selling premiums and waiting for the payments to come in. Actually, there is a lot more to it than that. Oftentimes, it involves processes that test even the mightiest business strategy. Of course, there is the accounting and collection management. But above all these management processes, measuring performance is one that should not be left out. In the operation of an insurance agency or company, knowing what yardstick to use to determine current performance is good. But learning the important insurance KPI or key performance indicators is better. Below are lists of most common and possible indicators that insurance companies should focus on.

In reality though, the KPI or key performance indicators most giant insurance firms use are not that different with those used by retailers or sales oriented companies. Basically, the nature of business of an insurance company is to sell. The difference comes with the products that are being sold. See, retailers or manufacturers sell good at a one time basis, which means, after a product is sold and consumed, the seller no longer has to deal with the customer. But with an insurance company, the lifecycle type of sales occurs. Once, an insurance policy is purchased, the company is obliged or attached to cover the cost, especially in paying the benefits of the customer.

Generally, there are six most common key performance indicators used in managing an insurance firm. First, the company must measure the number of policy sales. This is the most basic and just about the most important of all. A dip in quarterly sales is not just a historical record. It is even more like a threat for the company since a decrease in number of sold policies can imply long term wounds

Online trading in securities refers to the facility of investor being able to place his own orders using the internet trading platform offered by the trading member viz., the broker. Internet trading generally requires an online trading platform offered by most online brokers for order execution. Many online brokers also offer free demo accounts allowing anyone connected to the Internet the possibility of virtual trading. Any solid financial plan needs to focus on 3 main areas. 1) Maximizing growth of investment assets. There are many types of investments available but put simply, you need to find options that will grow. 2) Protect against unforeseen losses using life insurance and other forms of loss protection. If there are holes in your financial boat, you won't get very far. 3) Cut costs on unnecessary spending. This doesn't mean you can't have any fun, just look for ways to be smart about it.

House insurance is something that needs attention, especially with bad weather season just around the corner. Hurricanes, tornadoes, thunderstorms, and heavy rain are only some of the problems that property will come up against in the months ahead. You need to make sure you have all of your investments protected against every possible attack.

There are a few things you need to understand when you are looking over your house insurance. Some of them are industry terms, some of them are policy specifics, but all of them could be the difference between disaster and redemption.

1.Replacement cost. House insurance can be for the current value of the home, or for the actual cost of replacement. There are pros and cons to both, but if you want to be able to rebuild your home  as is  in case of a complete loss then you need to look at replacement insurance.
2.Property insurance. Most house insurance covers some percentage of the property in the home, but will often exclude valuable items like art work, jewelry, or furs. It could be important to look at adding a rider to your house insurance or getting a separate policy for valuables.
3.Deductible. While a high deductible could bring down the premium costs, it may not be as valuable as it looks. A high deductible means you will be out of pocket for expenses before the insurance kicks in.
4.Coverage specifics. All policies exclude certain events, but the policy isnt worth the paper it is printed on if you dont know what events you are covered for. Flood (where the water comes up  from a river or lake or other body of water) is NOT covered by most house insurance policies. Wind can also be excluded. Read the fine print. Talk the policy over with your agent. Be

Understanding health insurance and the health industry is much easier if you recognize some of the basic terminology and how it applies to you and your health insurance policy. If you have a health insurance plan and arent sure how it works or what the terminology means, take a few minutes to read the explanations below. Knowing these terms and what they mean to you can greatly aid you in dealing with your health care providers, insurance company, insurance agent, or during the health benefits shopping process.

Benefit Year
This is the 12-month period in which your benefits are calculated. Most insurance companies use a CALENDAR year, which is January 1 to December 31, but a few will use a 12 month period from when your policy goes into effect. For example, if your insurance goes into effect on June 1, the END of your benefit year is May 31. Make sure that you understand how your benefit year will be calculated.

Deductible
Deductible means the amount of money you must pay out of your pocket for medical expenses EACH YEAR before your health insurance begins paying out. Deductibles are usually reset to 0 at the beginning of each calendar or benefit year. Many insurance companies offer health plans that have benefits that are not subject to having to meet your deductible each year such as doctors office visits, immunizations, wellness or routine exams, etc. An easy way to remember what this term means and how it works is this:

When you have incurred medical expenses, all bills must be sent to the insurance company. When the insurance company looks at your bills, they then look at your policy and see how things are covered. They will then add up what the combined medical expenses have been for the year to date: determine

Life Insurance has become the need of the hour because life insurance not only means insuring an individuals life, it means insuring the whole familys future, security and well-being. Almost every bank offers life insurance; however, the life insurance quotes offered by them vary. Although life insurance is quite popular and the common man is well aware of it but there are certain aspects of it that are not very clear. For example, an important feature while selecting your life insurance policy is the life insurance quote. Let us clear this doubt so that you can choose the right life insurance policy for your needs.

Life insurance quotes are the costs of the life insurance policy offered to an individual. The life insurance quote differs from company to company and it is mainly based on the term of the policy i.e. Term Life, Permanent Life, etc.

There are 3 main factors that affect the life insurance quote. Firstly, it depends on your age and health. For this, you are required to fill a questionnaire. Your life insurance quote may increase if you are a smoker, or if you suffer from any dangerous diseases like cancer, diabetes, or if you have any alcohol or drug related problems. Also, your occupation as well as your recreational activities will be taken into consideration while offering you a life insurance quote. If the details provided by you are proved to be false, then the claim made by the beneficiary will get rejected.

Secondly, the coverage you require will also affect your life insurance quote because the more coverage you need, the higher your life insurance quote will be. The coverage will be calculated according to your income and the number of your working years. Please take due account of the increase in the cost of living while

Facts state that age is inversely proportional to insurance cost. People start driving their cars during their teenage years and continue doing so for as long as they can. However, insurance companies look at teen drivers as their liability, while they give 40-year-old drivers quite an advantage. How does age affect the insurance rate?

Teens

Teens at the age of 16 can start driving after getting their license. Car insurance for 16 year old teens is quite expensive. That is why many parents just include their teenage child to their insurance policy. However, including a teenager on your insurance could be equally disadvantageous. The cost of your insurance when you include your 16 or 18 year old son or daughter on it could double. This is because teens have insignificant driving experience, making them vulnerable to driving accidents. Statistical data support the assumption that more car crashes are caused by teens than by adults.

Auto insurance for 16 year old drivers may be less expensive under certain conditions. Teens with good grades may be eligible for less expensive insurance policies. Also, owning an older, less expensive car allows them to avail of cheaper rates.

College Students

Drivers in their late teens and early twenties, usually college students, may avail of cheaper insurance rates than 16-year-olds. But dont be too hopeful. This age group still falls under the high risk category for insurance companies, and insurance rates for them may still be above the average. Insurers look for certain conditions when assigning rates on the insurance of a college student. One is how often they need to drive and how far they are from school. If your son or daughter moves out of the house and moves someplace near school, then their insurance rates can drop.

Adults

People between the age 24 and 40 get favorable rates due

Here's a typical and all too familiar scenario. Months or years after your divorce, you hand the car keys to your minor child, who negligently wrecks the car and seriously injures another motorist. You promptly turn the claim into your insurer, thinking that your child is covered under your auto policy, only to be shocked that the insurance company denies the claim. And now both you and your child have been sued by the injured driver for thousands in medical bills and lost wages, and you are facing the prospect of personal liability - and possibly bankruptcy.

There are two principal reasons why the insurance company might deny the claim: your child is neither a "named insured" nor a "resident relative" under the policy. If your child is not a "named insured" listed in the policy, the policy will usually still provide coverage for "resident relatives" of the household.

But here's the problem: with flexible parenting arrangements and written agreements that do not specify "residency" issues, where is your child actually residing? In one parent's home? Or both? Or even at a third home if time is spent living with grandparents? The question is: is there anything you can do to ensure that your minor children will be covered in a future accident under one or both parents' insurance policies?

This accident scenario has been frequently litigated. Courts examining this issue have focused on what constitutes "residing" with a particular parent for purposes of satisfying the "resident relative" requirement of the insurance policy. One factor courts will look to is the language of the divorce or dissolution decree or visitation agreement. For example, if the agreement provides that the minor "alternately resides with each parent under a custody or visitation arrangement," it may carry persuasive weight as to whether the minor was a

Taking off in popularity, Pay As You Drive insurance plans for auto owners are, as their name suggests, based on the number of miles you drive your car. The more miles you drive, the higher the premium. The fewer miles you drive, the more you save. In our present economic times, the idea of paying less for this unavoidable expense is quite appealing. However, Pay As You Drive presents a few disadvantages.

First of all, in order to utilize Pay As You Drive insurance, you have to consent to having your vehicle?s mileage monitored. There are costs associated with these monitoring programs. These costs are paid for by the driver, not the insurance provider. These costs could outweigh the potential savings gained from Pay As You Drive Insurance. In addition, drivers would have to install a new monitoring device every time they change insurance providers. That makes Pay As You Drive insurance inconvenient, and it makes shopping for a better deal difficult and frustrating for drivers.

Secondly, the companies that make the odometer tracking devices also charge a periodic fee for transmitting data. So, not only do you pay for the device, you pay to use it. This, again, possibly can eat away any savings from driving less when you use Pay As You Go.

Thirdly, insurers have had to develop a totally new price structure in order to offer Pay As You Go. This makes it easier for them to pass new costs on to drivers, again, canceling out any benefit derived from your frugal driving.

Concerns have also been raised about the data gathered by the odometer tracking devices. Supporters of Pay As You Drive insurance claim the devices will only monitor the mileage necessary to compute the Pay As You Drive insurance premiums, but that could easily change. The devices could