How Does an Engine Protection Add-On Increase the Coverage of Your Two-Wheeler Insurance Policy?

Ever two-wheeler insurance policy has pre-defined coverage; be it a third-party cover or comprehensive policy. While a third-party party plans have a limited coverage for legal liabilities becoming due to third person, a comprehensive plan includes own damages too. For some these pre-defined coverages may be sufficient, but a few others may choose to fine tune it. This can be done using the add-on facility available with comprehensive plans.

Add-ons are optional policy upgrades that enhance the coverage of a two wheeler insurance policy. Using the add-on facility, it is easy to customise the policy coverage based on the different risks that you wish to insure against. One such essential add-on is the engine protection cover.

What is engine protection add-on?

Comprehensive bike insurance plans offer a 360-degree coverage for damages to your bike, as well as any concerned third-party legal liabilities. This includes injuries sustained by a third person, property damage, repairs to your bike and even injuries to you, the policyholder. However, it has certain limitation, especially when it comes to safeguarding the repairs for the engine. The engine protection add-on can be used to cover for these costs. * Standard T&C Apply

How does the engine protection add-on work?

Being the heart of your motorbike, any damages to the engine may mean hefty repair costs. For example, monsoons are notorious for waterlogging. This often results in water entering the engine and other components thereby causing the bike to stall. If the water enters the engine block, it can lead to a hydrostatic lock too. For such repair costs, an engine protection add-on can help ward of financial worries that otherwise can put a dent in your account.

Not just water damages, lubricants like engine oil, coolants leaking can also require repairs to the engine. These repair costs are also included in the add-on cover. Further, physical damages to the engine like the gearbox, pistons, crankshaft are covered in the policy scope. Since this add-on is over and above the standard coverage under a comprehensive policy, it ends up increasing the two wheeler insurance price. * Standard T&C Apply

Who is this coverage for?

Engine protection add-on can be purchased by all buyers who opt for a comprehensive plan. However, it is advisable for those living in flood-prone regions to buy one. Also, those planning on long-range road trips can benefit from an engine protection cover in case of unexpected damages to the engine. Any major repairs can be covered when you have the backup of an engine protection cover.

Are there any exclusions to the engine protection add-on?

Yes, just like all insurance plans, the engine protection cover also excludes certain repairs to the engine.

  • Repairs to the engine that are a result of routine wear and tear are excluded.
  • Replacement of the internal spares of the engine or gearbox as a result of the bike being turned on during a hydrostatic lock is excluded. This is known as consequential damage.
  • Damages to the engine required as a result of corrosion caused due to delay in retrieving the bike from a waterlogged area.
  • Damages that occur when the rider is under the influence of intoxicating substances.

* Standard T&C Apply

These are some ways how an engine protection cover can help you during the times when the engine needs repairs. Thus, keeping it in mind, you must ensure to buy and make consistent two wheeler insurance renewal for continued coverage.

Also, note that insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms and conditions, please read sales brochure/policy wording carefully before concluding a sale.


What Happens to the Travel Insurance Policy in Case of Trip Cancellation?

Imagine a scenario where you are all ready and prepared for your international trip with meticulous planning. But due to an unfortunate natural calamity, the country where you are visiting has faced devastating aftereffects. This has brought the entire nation to a standstill and all your plans are canned. This is where you are bound to cancel your trip and all the money, efforts in planning are down the drain.

This would be a heart-wrenching scenario but if you had a backup ready to tackle such unexpected events, there would be no financial losses. This is what a travel insurance policy does.

What is a travel insurance policy?

A travel insurance policy is an insurance plan that covers against the various risks that are faced during travels. Such travel plans are generally available for the specified duration of your travels thereby offers customised coverage based on your travel needs. Moreover, travel insurance isn’t only available for international trips, but also domestic ones. Medical expenses, delay and loss of baggage, flight cancellation and rescheduling, trip cancellation and alterations are some of the different situations to answer what is covered by travel insuranceplan. * Standard T&C Apply

When buying a travel policy, you must verify the coverage since different insurance offer different coverage. Verifying the coverage will help you know what the different risks insured within the policy’s scope and make a smarter choice of insurance cover.

What happens to the travel insurance policy in case of trip cancellation?

The insurance company provides assistance when it comes to trip cancellation. Undoubtedly cancelling your trip will mean huge financial loss as it involves cancelling your flight bookings, reservations for accommodations, cost of the entire travel package and any other advances paid. But based on the sum insured and policy terms, the insurer provides a compensation for such loss. However, such cancellation must be done prior to departure date only. Moreover, in cases where the entire trip is cancelled, the premiums paid are also refunded after deducting few nominal charges.

What happens in case of trip curtailment?

Apart from cancellation when a travel insurance claim is required, trip curtailment is another situation. There can be an unfortunate event requiring you to cut down the duration of your travel. It may be either due to personal reasons or factors beyond your control like natural calamities and man-made perils. In such situation, a travel insurance policy aids your financial worries. This can come handy especially for international travels for times when you are in foreign land. * Standard T&C Apply

When you are looking for a travel insurance policy, make sure to thoroughly check what is covered and what isn’t. Buying a policy that checks all your requirements helps to address your travel related concerns. Moreover, select a policy that offers adequate coverage so that any unexpected losses can be dealt.

Also note, insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms and conditions, please read sales brochure/policy wording carefully before concluding a sale.


Modern UK Businesses Need Accounting Software

If you have been hearing about companies all around you adopting accounting software but you believe you can manage without it, you’re right, you can. Your business won’t collapse overnight.

However, you’ll miss out on the productivity and professionalism that adopters of accounting software will possess and display. Your team will be less happy than their teams. They’ll have the ability to access better earnings. And slowly, but surely your less technologically-enabled business could fall behind its peers and competitors.

Of course, for some businesses, it is more about the need to check best UK accounting software and opt for it. If this is your dilemma then what you need to know is that trials are free with accounting software in the UK, even the premier ones like Dext. 

We’re going to give you a double benefit out of this article. We’ll give you a list of reasons why you need accounting software that also doubles up as a must-haves list when you are checking for the best UK accounting software. All of these features come as part of the package or are bundled in free with accounting software in the UK. Watch for our “Ensure your potential accounting software has” after each point and use it to make a checklist that can help you drive a hard bargain.

Benefit # 1: Happier team with less admin anxiety

You can shave hours and hours of mundane work off your team’s day with accounting software because it allows for data from receipts, bills, invoices – and even bank statements – to be extracted from mere photos, scans, or PDFs of these or from an online source.

Optical character recognition tech is able to return an editable and copyable digital text version of the original source document.

  • Ensure your potential accounting software has: receipt scanning software

Benefit # 2: Smoother invoicing

From forgetting to send invoices, to incorrect invoices that need to be corrected and re-sent, not to mention payment settlement delays from the client’s office, businesses lose a good chunk of capital because of old-fashioned invoicing SOPs.

And then there are shoddily formatted invoices that lack consistency, that might not cost you any hard capital, but certainly brand you as a mom-and-pop shop.

Accounting software lets you have crisp professional-looking invoices, reminds you to send invoices, reminds clients to pay, tells you when an invoice has become overdue, and updates you when your clients open or pay up invoices.

  • Ensure your potential accounting software has: a client dashboard, invoicing software inbuilt

Benefit #3: Fully (financially) informed decision making

Because of the automation of data entry and the fact that you can link your business bank account to your books (and the fact that many free UK accounting software come with a partner mobile app)  you always have live access to your books. Anytime. And Anywhere. Y

  • Ensure your potential accounting software has: live, on-the-go access, although this is the basic premise of such UK accounting software with free trials and as such you should not have to look for it or insist on it

Benefit #4: Potentially improved productivity from actionable business insights

With all that data running through its artificial intelligence brain, your software can figure out where you are overspending or underearning. It delivers these insights – like supply chain leaks for example – simply, regularly, and spontaneously.

  • Ensure your potential accounting software has: the ability to deliver spontaneous business insights at regular intervals

Benefit #5: Delegate expense approvals while still maintaining ultimate control

As your business grows you may want to focus on bigger tasks and have trusted team members approve capital expenditure and reimbursements requested by the rest of the team. Free UK accounting software lets you stay in the loop (and request answers on specific line data whenever required) while delegating the actual approvals.

Ensure your potential accounting software has: at-a-click-approvals and the ability to add expense approvers.


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Eligibility Criteria & Documents Required To Apply For Loan Against PAN Card

Earlier, personal loans would be processed through a complicated mechanism of paperwork and visiting the bank branch. But now that Non-Banking Financial Companies (NBFCs) are making headway into providing personal loans with ease, things have changed radically. Now you can easily get a personal loan with a PAN card.

Eligibility for PAN Card Loan

To get a PAN card loan, lenders set certain eligibility parameters that a borrower must fulfil. These parameters are as follows:

Age Limit

To get a loan with a PAN Card, age plays an important role. Most lenders will set the age limit where the minimum age would be 23 years while the maximum is 55 years. This age range gives lenders a greater certainty of getting the loan paid back.  But certain reputed NBFCs can make things a bit flexible by extending this age range where the minimum stands at 18 years, and the maximum goes as far as 60 years.

Income Proof

You need to have an income to get the loan sanctioned in the first place. The loan amount you get is directly related to your monthly income. Hence, you must submit your income proof to apply for a personal loan. There are loans without income proof, but even there, you have to show other loan sources for the loan to be sanctioned.

Indian Resident

If you are applying for a PAN card loan in India, it is quite self-explanatory that you must be a citizen of India. Your residency would be proven by the documents you submit to the lender. For a PAN card loan, click here to know more.

Documents Required

As the name suggests, a PAN card loan requires a PAN card for the loan to be approved. Apart from a PAN card, you will also be required to submit your Aadhar card. Lenders use PAN cards and Aadhar cards for KYC verification. These two documents would be more than sufficient for you to get a personal loan.

Advantages of PAN Card loan

When you use a PAN card to get a loan, you derive several advantages from it. Most of these advantages are provided by NBFCs. So, you should seek an NBFC to get a loan via a PAN card.

Paperless Verification

A loan with the help of just the PAN card and Aadhar card makes the entire process of getting a loan easy. You do not have to spend a considerable amount of your valuable time filling up one paper after another. By just uploading these documents, you will be able to access the loan with quite an ease in a matter of minutes.

Instant Approval

When you apply for a loan that involves no paperwork, save your PAN card and Aadhar card. The verification process becomes quick and smooth. With the help of just these two documents, it does not take long for the lender to get the necessary information needed for the loan. As a result, you get a loan approved instantly.

EMI Selection

With NBFCs, another advantage you get with a PAN card loan is that you can choose the EMI and tenure of your loan. Whether you want to pay the loan in a short tenure or long will be totally your choice. The EMI amount and interest rates would be adjusted accordingly.

Zero Collateral

As the loan you get through your PAN card is an unsecured personal loan, it will require no collateral. With just your income proof, you will be able to get the loan without needing to compromise on any of your valuable assets.

Thus, the entire process of getting a loan with a PAN card is quite simple and easy. You also get to enjoy numerous benefits of this loan. So, if you are looking for an instant cash loan, go for the PAN card loan option.


Why Virtual Bank Accounts are the Key to Seamless Cross-border Trade

In this economic climate, digital transformation is more crucial than ever for banks and fintech companies looking to succeed. Embracing digitalization is easier with virtual bank accounts. Offering your clients, employees, and contractors virtual accounts is therefore incredibly beneficial.

How Virtual IBANs work with International Payments

Rather than directing transactions to a physical bank account, virtual IBANs route transactions online. Businesses can use virtual IBANs to extend their range of services to global customers just as they can with their traditional counterparts. In terms of functionality, a virtual IBAN account functions exactly like a regular IBAN account. It can send and receive payments and transfer funds between the virtual account and the linked physical account.

By allowing the account holder to receive, withdraw, and transfer funds, they fulfil much of the functionality of a regular bank account, but they are faster and easier to create. With control over the bank accounts, you can also add loyalty and rewards programs to further grow adoption.

Popular Use Cases for Virtual Accounts

  • Platforms that are part of the gig economy can instantly pay their workers and drivers via virtual accounts.
  • Marketplace platforms make it easy for sellers to receive international payments.
  • The use of virtual accounts can reduce the cost of paying foreign workers or contractors.
  • Offering turnkey solutions that allow unbanked workers to be paid and empowered to participate in the digital economy.

 Advantages of Issuing Virtual Bank Accounts

  • Your company can transfer money quickly and securely to employees, contractors, and other stakeholders through virtual bank accounts.
  • Providing virtual accounts to contractors and workers who are otherwise unbanked will allow them to receive payments.
  • Having your own virtual account can reduce transaction fees significantly, especially when transferring funds cross-border.
  • Including virtual accounts in your apps or product offerings helps to build loyalty and create a broader ecosystem of products and services that can transform a traditional application into an application preferably more enhanced.

Disadvantages of Issuing Virtual Accounts

  • The compliance and regulatory considerations that must be addressed, including ID Verification, Know-Your-Business (KYB) and Know-Your-Customer (KYC), require businesses to secure a partner that can manage compliance and regulations.
  • Customers should be able to deposit funds, withdraw funds, or pay with their debit or credit cards. Virtual cards are a complimentary service that will enhance the customer experience for your virtual account holders

To Conclude

In today’s distributed workforce, different levels of access can be provided to different team members to manage and operate account activities. Segmenting workflows can increase operational efficiencies for digital companies.

In addition to improving compliance functions, virtual IBANs ensure that parties are verified, and payments are screened for any red flags. This ensures that your customer (KYC) functions are also improved. The virtual IBAN functions as an improved version of the traditional IBAN.

Security is a top priority. The future is virtual IBANs, where most companies, not just e-Commerce firms, will start accepting them. Over time, traditional banking will be upgraded.


Mistakes You Might Commit When Choosing A Contract Packaging Company

You understand what contract packaging is. You also know what benefits it has to offer you. You must have researched a few companies and identified a handful of vendors who can work within your budget and niche market requirements. At the same time, you know that these companies will provide the best packaging solutions, but you may have skipped out the problems associated with the contract packaging.

This article will help you explore the top mistakes you can make when selecting a co-packer. Here, we help you avoid some potentially very costly blunders.

Choosing a company that’s far away

This is one of the most consequential errors that you may commit. When choosing a contract packing company for your packaging solutions, the location related to the area of the manufacturing site and end-users is essential.

It is highly recommended to choose one close to the manufacturing site and end-users’ geographical location. The further you’re away from the company, the higher the shipping and logistics costs.

Choosing exclusively on price

One of the first proposals to ask is how much does it cost? While this sounds to be an excellent question, the company with the lowest cost may not be the best idea. When the decision is exclusively on price, you open yourself up to a set of potential problems.

You’ll definitely come across a co-packer with the lowest cost of doing business; meanwhile, they may not be specialized for your product or the type of delivery.

Choosing the one that lacks growth

Most of the packing companies meet the demands as allotted by packaging solutions initially; however, they may not keep up with the supply once the customer’s request rises. The mark of a professional service provider is the one that can expand their business in order to satisfy the client’s needs.

Now, this may be in the form of co-packer purchasing new warehouses, machinery, labor, or robotics. Unfortunately, not all companies may grow as per the need. When choosing a company, you will want to ensure to choose one who can expand their production as needed as your packaging requirements.

In-house vs. Contract packaging

If you have an in-house packaging line and are tired of managing all the elements, you may feel tempted to outsource the packaging line. However, you may want to crunch the numbers. If you have already paid off packaging machinery and other significant investment while running a smooth packaging line, in that case, the change may be costly.

Also, switching to a contract packaging plan may be detrimental to your finances and meet the customer’s demand during the changeover.

Final Wrap

Now that you know the major mistakes you need to avoid when shopping for a contract packaging company. It is highly recommended to think about all the areas of concern. While this can be pretty challenging, having professionals on your side is definitely the best option.


Customer service outsourcing in the Healthcare Industry

The pandemic crisis has provided for an increased need for medical care across the globe. Changing consumer preferences increased requests, and telecare popularity — the drivers for customer experience enhancement. Unfortunately, many providers with in-house call centers oftentimes fail to monitor calls or evaluate the key customer experience metrics, which provides for client and revenue loss. Many healthcare organizations have turned to outsource customer service in order to increase customer satisfaction, be able to process more queries, as well as, focus on the core — providing medical help.

Signs for Call Center Outsourcing

Many if not most of the healthcare premises have experienced an overload with calls and requests, especially in today’s days. Providing an outstanding customer experience is, therefore, harder than ever before. Oftentimes the results are customer dissatisfaction and employee frustration. These are the signs outsourcing is a great option:

  • Your patients are dissatisfied. Increasing patient complaints are the alarm for a change.
  • High staff turnover. Many healthcare organizations employ people that do not have the right skills and experience within customer service. This, in turn, results in people leaving for better pay or simply cannot handle the patients in the right way.
  • Lack of ongoing training. Employees will be simply unprepared to deliver customer service, which as a result will bring customer dissatisfaction and frustration.
  • Not meeting the criteria of a medical call center. If over 5% of patients hang up before getting help, hold time exceeds 1 minute, or call routing accuracy is below 99%, your call center is either understaffed or requires additional training.

Healthcare customer support outsourcing: Helpware approach

Helpware is a BPO company providing services within customer service, back-office support, marketing, and video & image annotation. With years of experience, the company has served a great number of medical centers and helped them to improve key metrics, such as customer satisfaction, average hold and resolution time, as well as, customer retention rates. With every client, Helpware pursues a personalized approach to understand and address the goals and needs. The company is able to find the industry’s best professionals, with all the required skills, and provide them with in-depth training on all the medical aspects and customer service delivery. Whether you require a small team of agents, urgent expansion of your team, additional training, or any other need — Helpware will guide, manage and address any of your requests in a timely and efficient manner.