Reduction in insurance cost for exporters, ECGC
The Dollar Business Bureau In a much-needed relief to the exporters, the Export Credit Guarantee Corporation (ECGC) in its 60th year of operation has taken a customer friendly step by reducing the premium rate by an average of 17% for its whole turnover policy covers. This has reduced the transaction costs for short term business exporters from Rs.28.19 to Rs 25.46 per Rs 100 during FY 2016-17. The premier Export Credit Agency has also initiated several customer friendly steps to boost exports. In its press release on May 31st, the agency has listed out the initiatives taken during FY 2016-17. The agency has taken steps to make Export Factoring Scheme, cheaper for MSMEs. To give a fillip to the Medium & Long Term (MLT) ...
Auto insurance industry must recognise changing consumer preferences
The Dollar Business Bureau The Auto Insurance Industry needs to take cognizance of the changing consumer preferences and adopt appropriate strategies, said a study. A latest study conducted by the Associated Chambers of Commerce and Industry of India (ASSOCHAM), suggested that insurance firms need to change marketing strategies according to the changing demands of customers. Customers no longer want just an insurance policy but are increasingly asking for services based insurance coverage like zero depreciation insurance cover, enhanced personal accident and hospitalization cover. Stating that the insurers have been witnessing compounded annual growth rate of about 22% since 2012, the study said that the gross premium earned by general insurance companies from the motor vehicle industry is likely ...
