1. What is a Health Cover. Pls give layman Definition for better understanding?
Check this link:
http://www.insurancemall.in/blog/post/2008/04/Health-Insurance.aspx
https://www.insurancemall.in/Forms/frm_G_Search_Page.aspx?qsInsr=L&qsInsrTypId=IT0015
2. Why is Reliance Cheaper - quick comparison Chart Vs ICICI / Bajaj / United / Star / DKV ?
Every Company has its own way of pricing its products, as per its own internal marketing and underwriting guidelines.
Please note that although, Reliance is a cheaper product, it does not accept cases where the customer has any illness while submitting the proposal form.
Otherwise, Reliance Healthwise Gold is currently the cheapest and the best featured Health Insurance product in India. It has some really good features like Double Critical Illness cover at a very attractive price.
3. What is Individual Plan Vs Family Floater ?
A Family Floater plan is a group cover with a group limit on the cover which means the sum insured is shared amongst all members of the family.
For e.g. Mr. Kumar takes a Family floater for his family comprising of him, his wife and his daughter of Rs. 2 Lakhs.
All of the family members of Mr. Kumar can collectively claim Rs. 2 lakhs in a given year. So If Mrs. Kumar has claimed Rs. 80000 during the year, all the members [including Mrs. Kumar] can claim upto Rs. 1.20 Lakh for the remaining period.
Note: Currently Insurance Companies provide Family Floater in combination of only following members – Husband, Wife and Dependant Children generally upto age 18.
4. What is the Health Insurance buying process at InsuranceMall?
Reliance Healthwise and ICICI being an instant policy, has a different procedure
The general procedure is as follows:
- Once the customer has made an order and payment, you will get an acknowledgement of receipt of Order and Payment.
- the customer care will email/courier the relevant proposal form with self addressed stamped envelope which the customer needs to scan/courier and send it back to http://www.insurancemall.in/ .
- On receipt of the proposal form, the same would be submitted to the Insurance Company for issuance of policy.
- Generally Policies would be delivered within 10 working days from receipt of the proposal form.
Procedure for Reliance Healthwise:
- Once the customer has made an order and payment, you will get an acknowledgement of receipt of Order and Payment.
- The customer care will send by courier:
i. a pre-filled proposal form
ii. inactive Health Cards
iii. Our Self Addressed Stamped Envelope
- You need to sign on the proposal form and send it back in the envelope.
- On receipt of the proposal form, the same would be submitted to the Insurance Company for issuance of policy.
- Generally Policies would be delivered within 10 working days from receipt of the proposal form.
5. Is Maternity Covered in any Plan ?
Maternity is covered under Apollo DKV Exclusive and Premium products, but with a waiting period of 4 years. So one can claim only after 4 years of renewal.
6. Is PED (Pre-Existing Disease) Covered in any Plan and when?
Pre-existing illness/disease is not covered from same year.
Most Plans cover pre-existing from the 4th year.
There are some plans which offer better but partial pre-existing cover
i) Star Health Red Carpet covers 50% pre-existing for people between 60 to 69 from the second year.
ii) ICICI Health Advantage covers pre-existing from the 3rd Year.
iii) Bajaj Silver Health – for senior citizens covers pre-existing from the 2nd Year.
7. Can I get Tax benefits for my purchase of Health Insurance from InsuranceMall?
Yes, you will get all benefits from your Health Insurance that you enjoyed earlier.
Insurance Companies will issue Income Tax Certificates for the same.
8. How is InsuranceMall different from my friendly neighborhood Agent?
- Excellent Combination: At InsuranceMall you will enjoy the combined of benefits of a system driven company and a personalized agent
i. You will not be dependant on one agent/one Company for your products. We will offer neutral advice based on your requirements.
ii. At the same time, we would strive to have one customer service executive handle your entire requirement, so that you get personalized service.
- Wider Choice: An agent/An Insurance company employee would be able to offer you limited no. of products from limited no. of companies. We don’t have any such limitation.
- Speedy Service: We estimate our delivery and response to be atleast 30% more than any agent/Insurance Co. Check it out for yourself.
- Top-end Online Management:A proprietary host of online services likeTrack your Policy : All your policies bought online would be available for any-time download.Manage your Policy: Upload your existing policies and get your complete portfolio analyzed instantly.
9. Will it not be good that I buy directly from Insurance Company rather buying online at InsuranceMall?
Every Insurance Company has a basket of good and not-so-good products. We help you buy the good products from each basket. We provide you with one stop solutions across all Companies and products.
You may buy your policies from different companies, but it would be difficult to manage contact, records and claims for so many different companies, compared to a FREE solution at hand called http://www.insurancemall.in/
10. Will I get discount if I buy from InsuranceMall?
We don’t believe in discounting, but savings. We have easily provided more than 20% of savings to customers through our unique quote engines.
11. Will InsuranceMall assist in case of Claims?
Generally claims need to go through the normal route/infrastructure offered by the Insurance Company. In case you are not getting satisfactory response for the claim within 24 hours of registering the same, you can get in touch with us. We would try our best to offer you the best of our assistance.
12. I don’t like Policy I purchased. Can I cancel it now?
Policies do have a cancellation clause. You need to go through the policy wordings or contact our customer care at customercare@insurancemall.in with your specific policy bought.
13. Can I pay for my Health Insurance renewal premium purchased from an Agent through InsuranceMall secured payment gateway?
No you can’t pay for policies that have been bought from another agent as of yet. At InsuranceMall, you can order for fresh policies [or] pay renewal premium for policies originally bought at http://www.insurancemall.in/
14. If I buy the policy from InsuranceMall, how quickly I get the Physical Policy in hand?
Whenever you have decided on buying a product, you can click on the Policy Details button next to the logo. The last lines of the policy details provide for the no. of days it would take for the policy to be delivered.
The general time it takes for activation of policies/cover note:
1. Health Insurance 5-10 working days depending upon company
2. Personal Accident 10 working days
3. Critical Illness 10 working days
4. Travel Insurance 3 working hours
5. Car Insurance 8 working hours
6. Life Insurance 15 working days
15. Where are offices of InsuranceMall with Phone Number?
http://www.insurancemall.in/ Online Operation is based out Mumbai HQ. All policies are processed from here. Our numbers are 02230503050 OR 02267242424. We have physical offices at Bangalore and New Jersey (USA) too.
16. I see your rates quoted on InsuranceMall is different from my Agent. Why?
http://www.insurancemall.in/ updates rates on a weekly basis, so chances of wrong rates are very low. In an unlikely event, though it is a distant possibility, in case our rates our found to be incorrect
- if the rate is higher, we will refund you the excess premium
- if the rate is lower, we will absorb the shortage, and you don’t have to pay a thing.
On you finding an error on our website, we offer a 5% coupon which can be used for you next purchase at http://www.insurancemall.in/ .
17. I want to take Health Insurance for my Family? What is the best Health plan you suggest?
If your age is less than 45 and no Pre-existing Illness – Reliance
If your age is between 45 and 60 – Apollo DKV
If your age is more than 60 – You need to go for individual covers
18. I want to take an Individual Policy. What is the best Health Plan you suggest and why?
We recommend Reliance in case you are looking for a good price-feature combination.
We recommend Bajaj Allianz in case you are looking for a good Claims Track Record.
19. I want some one to come to my home and explain me the Insurance Policy. Will InsuranceMall do that?
InsuranceMall has developed Do-it-Yourself infrastructure, so that you can compare and buy yourself, with minimum help from Chat, Emails and Phone Calls with our Customer Care.
Our current set-up does now allow experts to come to your home to explain.
20. I want a Group Health Insurance (Mediclaim) for my Office. Can you help?
Of course, we can help. http://www.insurancemall.in/ , powered by Bonsai Insurance Broking Pvt. Ltd. is a multi-pronged, full service Insurance super mall.
We cater to large corporate customers ranging from Godrej, 3G, EsselGroup, Aditya Birla Group, Systime etc. Pls email your queries to our Principal Officer Mr Niraj Jain at niraj@bonsaiinternational.com or call him at +91 9820255292.
Showing posts with label bonsai. Show all posts
Showing posts with label bonsai. Show all posts
Monday, April 7, 2008
Monday, February 4, 2008
Where do you see the future of E-commerce in India? Will consumers in India buy branded products online?
This is an interesting question!
To start with, I would concur that India is all set for eCommerce as the potential is just terrific. We have had good success so far. Practically from Bride to Jobs to Insurance is now available Online. However, the mind-set of demographics above age 50 could be a challenge still, but that is changing on a daily basis for sure.
Having said that, I shall be honest that, there are very few (hand full only) eBusinesses in India which could fall into an eCommerce category in Toto.
According to my definition, the transaction could be classified into eCommerce only and only when there is no human intervention. What we are seeing in India vis-a-vis United States (as I stay here) is that, we are using Online for Branding and to generate leads. Call-Center (offline) is used to close the transactions. Even Sulekha.com is a successful portal but most of the stuff is sold on phone. Nakuri.com / Shadi.com are other successful portals in India, but can we really call it an eCommerce story?
Perhaps exception being is IRCTC / Travel Portals / Movie tickets and InsuranceMall.in . I am sure, there are others too, which I would have missed out inadvertently, but the list can’t be more than 10 genuine end-to-end eCommerce sites in India.
It is very tempting to close a sale through call center or by using feet on street, but that would never solve our challenge of selling Products Online. We have seen many funding but none has gone into a genuine eCommerce start-up in India, after the wave of Travel Portals including MMT / Yaatra / TravelGuru and Cleartrip.
To answer the question, will consumers buy Branded stuff online and I would say yes, but it depends.
If one is in position to create a Comparison Shopping and one is able to crack the value proposition then for sure, consumers will buy online, as long as the product is into Retail segment.
The challenge is to create true value proposition backed by solid technology and reliable payment gateway for consumers. If yes, then you are home. Look at what we did with Insurance, perhaps the toughest & most regulated financial services in India. We defied all pundits of eCommerce as well as Nay Sayers by launching India’s first Compare and BuyNow Insurance Portal – http://www.insurancemall.in/ . So, if we can do it, why not others ?
With Broadband penetrating Indian cities every day and computers reaching every household in urban as well as the rural areas, the sky is the limit. Today consumers want option and convenience which is the forte of Online Companies, so I am bullish about the future of eCommerce in India. If you want to bet on any company, this is the time as valuations of Start-up eBusiness companies are still far low compared to United States.
Cheers !!!
Manish K. Jaiswal
manish@bonsaiinternational.com
CEO – http://www.insurancemall.in/
Link - http://www.buynowindia.com/newsandreviews/index.php/MKJ/
To start with, I would concur that India is all set for eCommerce as the potential is just terrific. We have had good success so far. Practically from Bride to Jobs to Insurance is now available Online. However, the mind-set of demographics above age 50 could be a challenge still, but that is changing on a daily basis for sure.
Having said that, I shall be honest that, there are very few (hand full only) eBusinesses in India which could fall into an eCommerce category in Toto.
According to my definition, the transaction could be classified into eCommerce only and only when there is no human intervention. What we are seeing in India vis-a-vis United States (as I stay here) is that, we are using Online for Branding and to generate leads. Call-Center (offline) is used to close the transactions. Even Sulekha.com is a successful portal but most of the stuff is sold on phone. Nakuri.com / Shadi.com are other successful portals in India, but can we really call it an eCommerce story?
Perhaps exception being is IRCTC / Travel Portals / Movie tickets and InsuranceMall.in . I am sure, there are others too, which I would have missed out inadvertently, but the list can’t be more than 10 genuine end-to-end eCommerce sites in India.
It is very tempting to close a sale through call center or by using feet on street, but that would never solve our challenge of selling Products Online. We have seen many funding but none has gone into a genuine eCommerce start-up in India, after the wave of Travel Portals including MMT / Yaatra / TravelGuru and Cleartrip.
To answer the question, will consumers buy Branded stuff online and I would say yes, but it depends.
If one is in position to create a Comparison Shopping and one is able to crack the value proposition then for sure, consumers will buy online, as long as the product is into Retail segment.
The challenge is to create true value proposition backed by solid technology and reliable payment gateway for consumers. If yes, then you are home. Look at what we did with Insurance, perhaps the toughest & most regulated financial services in India. We defied all pundits of eCommerce as well as Nay Sayers by launching India’s first Compare and BuyNow Insurance Portal – http://www.insurancemall.in/ . So, if we can do it, why not others ?
With Broadband penetrating Indian cities every day and computers reaching every household in urban as well as the rural areas, the sky is the limit. Today consumers want option and convenience which is the forte of Online Companies, so I am bullish about the future of eCommerce in India. If you want to bet on any company, this is the time as valuations of Start-up eBusiness companies are still far low compared to United States.
Cheers !!!
Manish K. Jaiswal
manish@bonsaiinternational.com
CEO – http://www.insurancemall.in/
Link - http://www.buynowindia.com/newsandreviews/index.php/MKJ/
Sunday, February 3, 2008
Microsoft taking over Yahoo is a good news !!!
I have seen that lot of ink has been spilled over Microsoft’s hostile bid for Yahoo. Also, how Steven A. Ballmer was curt this time, when he announced intentions to the Board and Jerry Young, the Founder CEO of Yahoo, Inc. Microsoft has offered USD 46.6 billion in Stocks and Cash to take over Yahoo. The offer of $ 31 per share is a huge 62% premium over Yahoo’s closing stock price of $ 19.18 on Thursday. It is, Of course a far-cry from its peak of $ 118.75 in 2001.
I take this opportunity to explain how and why this deal may be a good news for SMEs (Small and Medium Enterprises) and Start-ups with limited sales and marketing budgets.
Like ever one, let me also concede upfront that Google is a great technology company founded by Larry Page and Sergey Brin, both Stanford graduates, like Yahoo founders Jerry Young and David Filo.
As an avid user of Internet as well as having built an online company to promote comparison Insurance shopping : http://www.insurancemall.in/ , Team Bonsai and I use Google extensively to remain relevant in the Online space. Hence I can say with confidence that there is no match for Google when it comes to Search Engines. They just don’t have parallel as on today and that is the curse for Internet users, because Google has virtual monopoly on the Internet space across globe without dispute.
This concerns me and may initiate users to highlight the pain areas in the internet marketing business model. Lets face it and acknowledge a fact now that Google is extremely expensive marketing medium and should be exercised as a last resort by any new company trying to successful with limited budgets .
Google Ad program is perhaps a biggest marketing success story by any marketer of any medium be it Electronic, Paper or Internet. Management schools should make Google as a first case study in their curriculum on how it made billions on search marketing business model, unheard and unseen before. Even when recession is hitting America and all businesses, Google has announced the robust growth in its AD earnings for the quarter.
Google is a great company and is doing very well with huge cash flows. No Problem, but what is there for SMEs and Start-ups who in first place made Google such a rich company. The small companies struggles to manage break-even owing to many un-controllable costs and moving targets goes with the easy bet of Google marketing. The collective thinking is that Google charge, advertising companies based on results (PPC – Pay Per Click) and that is the only way to succeed on the Online space (SEM – Search Engine Marketing). On face of it, Google has fair costing mechanism (the PPC concept) where small or big budget companies fits in with ease. How ever, in reality, the small business ends up spending huge and more money to get the search result first page (SRFP) in the hope that more Hits would bring sure business.
My experience of Google Hits to conversion ration is pathetic 100 : 3. It means that every 100 hits, one may get only 3 sure conversions (real sales). SEM mechanism, sure based on your budget gives you desired hits, but the purpose of spend is always sales and associated brand recall which miss big time incase for Google Ad’s. There is no researched data here but I am sure that the thumb rule results of Google marketing is only 60% ROI (return on investment), so it does not help small companies.
I am aware, that revenue margin differs, based on industry, but Google ROI may not be over 50-60% band. I am happy to change my theory or assertion, if there is any credible evidence of better conversion across industries around the globe. And this is the crux of my story that Microsoft taking over Yahoo will bring the cost of Internet marketing down and a level playing field for all. Today, Google has free hand to price its services as consumers have no choice as on today. It is high time that Google should also get some genuine competition now. They are growing unabated by garnering 25-50% of all marketing budgets of any company with limited ROI or success for the advertising companies.
It is also important for shareholders of Google to ask the Google management team to come out with a new revenue model as the present golden goose search engine Ads model will start giving diminishing returns for this great company soon. Even companies particularly Start-ups looking for a quick money source through program like Ad Sense will have better options from Yahoo and Microsoft soon. The competition from Microsoft will force Google to charge reasonable from consumers to place Ads on its Search Page which will improve the ROI to acceptable levels of 80-90% band.
Big and innovative player, chart the course for new business opportunities and options hence time has come for Microsoft to regain its leadership position now. The Yahoo deal will give the must wanted latitude to Steve now.
Cheers !!!
Manish Jaiswal
CEO – Bonsai International Group
http://www.insurancemall.in/
http://www.buynowindia.com/
http://www.newsandreviews.in/
I take this opportunity to explain how and why this deal may be a good news for SMEs (Small and Medium Enterprises) and Start-ups with limited sales and marketing budgets.
Like ever one, let me also concede upfront that Google is a great technology company founded by Larry Page and Sergey Brin, both Stanford graduates, like Yahoo founders Jerry Young and David Filo.
As an avid user of Internet as well as having built an online company to promote comparison Insurance shopping : http://www.insurancemall.in/ , Team Bonsai and I use Google extensively to remain relevant in the Online space. Hence I can say with confidence that there is no match for Google when it comes to Search Engines. They just don’t have parallel as on today and that is the curse for Internet users, because Google has virtual monopoly on the Internet space across globe without dispute.
This concerns me and may initiate users to highlight the pain areas in the internet marketing business model. Lets face it and acknowledge a fact now that Google is extremely expensive marketing medium and should be exercised as a last resort by any new company trying to successful with limited budgets .
Google Ad program is perhaps a biggest marketing success story by any marketer of any medium be it Electronic, Paper or Internet. Management schools should make Google as a first case study in their curriculum on how it made billions on search marketing business model, unheard and unseen before. Even when recession is hitting America and all businesses, Google has announced the robust growth in its AD earnings for the quarter.
Google is a great company and is doing very well with huge cash flows. No Problem, but what is there for SMEs and Start-ups who in first place made Google such a rich company. The small companies struggles to manage break-even owing to many un-controllable costs and moving targets goes with the easy bet of Google marketing. The collective thinking is that Google charge, advertising companies based on results (PPC – Pay Per Click) and that is the only way to succeed on the Online space (SEM – Search Engine Marketing). On face of it, Google has fair costing mechanism (the PPC concept) where small or big budget companies fits in with ease. How ever, in reality, the small business ends up spending huge and more money to get the search result first page (SRFP) in the hope that more Hits would bring sure business.
My experience of Google Hits to conversion ration is pathetic 100 : 3. It means that every 100 hits, one may get only 3 sure conversions (real sales). SEM mechanism, sure based on your budget gives you desired hits, but the purpose of spend is always sales and associated brand recall which miss big time incase for Google Ad’s. There is no researched data here but I am sure that the thumb rule results of Google marketing is only 60% ROI (return on investment), so it does not help small companies.
I am aware, that revenue margin differs, based on industry, but Google ROI may not be over 50-60% band. I am happy to change my theory or assertion, if there is any credible evidence of better conversion across industries around the globe. And this is the crux of my story that Microsoft taking over Yahoo will bring the cost of Internet marketing down and a level playing field for all. Today, Google has free hand to price its services as consumers have no choice as on today. It is high time that Google should also get some genuine competition now. They are growing unabated by garnering 25-50% of all marketing budgets of any company with limited ROI or success for the advertising companies.
It is also important for shareholders of Google to ask the Google management team to come out with a new revenue model as the present golden goose search engine Ads model will start giving diminishing returns for this great company soon. Even companies particularly Start-ups looking for a quick money source through program like Ad Sense will have better options from Yahoo and Microsoft soon. The competition from Microsoft will force Google to charge reasonable from consumers to place Ads on its Search Page which will improve the ROI to acceptable levels of 80-90% band.
Big and innovative player, chart the course for new business opportunities and options hence time has come for Microsoft to regain its leadership position now. The Yahoo deal will give the must wanted latitude to Steve now.
Cheers !!!
Manish Jaiswal
CEO – Bonsai International Group
http://www.insurancemall.in/
http://www.buynowindia.com/
http://www.newsandreviews.in/
Subscribe to:
Posts (Atom)
