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Insurance broker versus direct sellers: which is better?

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Insurance broker

Technology has truly changed the way we do business. Before, the only way people can buy insurance is through an agent or a broker. But now, with the help of the internet, people can now buy insurance directly from the seller. This seems very accessible and convenient. Direct buying from the insurance company can be faster and a lot easier for the tech-savvy generation who are not acquainted with the idea of a middleman. But there are still key advantages when you hire an insurance broker. Below are both pros and cons of using an insurance broker and direct insurance.

Insurance broker

Insurance brokers are the ones who serve as the liaison between the client and the insurance companies. They make sure that the transactions come off smoothly and that both parties understand the stipulations of the products. They make money from commissions that they get from the insurance company. Over the years, insurance brokers are essential when buying an insurance but this changed thanks to the current internet platform and new demands.

Pros

Having an agent means the clients can experience a personalized customer service. This means that they are well taken care of. Clients no longer need to worry if the insurance application is being processed. When things go south, the insurance broker is there as a backup for the client. They can make an appeal when the client needs it. Insurance brokers can also explain the stipulations of the insurance policy well to the unfamiliar client. They will become the dictionary in case some terms are not being understood. Documentations and saving data are also not a problem since insurance brokers are organized professionals who can easily save and store data.

Cons

Again, some people feel uneasy about working with the middleman. They feel like the brokers make the process of application more burdensome. Some clients also have issues with the brokers who they work with. It’s important to choose the broker wisely and see if they have great characteristic before working with them.

Direct buying

People nowadays can now buy insurance straight from an insurance company without any help from insurance brokers. Through the help of the internet, buying insurance can take only a few clicks. Online insurance companies allow a five-step application process that can only take a few minutes. All they ask are personal information including bank details.

Pros

The convenience that direct buying brings is undeniable. Imagine being able to buy insurance anytime and anywhere. Some websites offer an instant quote and all you have to do is give your personal information and you are good to go. This works best for people who are in a hurry to buy their insurance.

Another advantage is the lower rate that these online sellers offer. Low-interest rates are just a few of the promos that these online websites want to provide. The fact that there’s no middleman who can share the portions of the payment make the whole thing cheaper too.

Cons

Some of these online insurance companies are fraud. Do your research first before applying for one. Read reviews online and ask questions before putting your precious personal information online. Ask friends for recommendations or simply do a few Google searches. It’s better to be safe than sorry. Another disadvantage is that no one will be there to back you up in case of emergency. What if the insurance doesn’t work when you need it? You can be left hanging on your own wondering how you can get help from the situation that you will be facing.

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Business News

Critical Tests to Ensure Critical Calibre in Your Employees

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Critical Tests

A huge number of employers are managing critical thinking assessment tests during their recruitment process.   This is exclusively designed to test the decision-making skills of an applicant. It is mainly based on standard critical thinking.  Critical thinking demands a candidate to discover and define the issues and problems, collect essential information needed and expectations made, cater possible clarification to the problem, examining alternatives to select the finest solution and finally making conclusions to reach at a right and effective decision.

The right test for critical thinking ability is suitable for hiring at all levels like mid managerial and senior decision-making levels. These tests are used to assess the applicants on three chief areas like

  • Proper recognition of Assumptions
  • Exact evaluation of arguments
  • Drawing conclusions

This all constitutes – Inference and Interpretation. The applicants are given diverse types of situations and statements to examine them on the above mentioned skills. The test is carefully scheduled to check the speed and correctness of candidates on reaching the conclusions. Once you have a test like this one, you can be sure about the critical abilities of your candidates. These are the tests that are both used as pre-employment test and promotion test. If you are recruiting some candidates for some important roles in your business, you have to be sure about their calibre and effectivity. You have to take steps to ensure that they are absolutely equipped with some sound critical abilities. What is the point if they don’t have a critical vision towards things? What is the point if the candidates are unable to tackle with a p [problem in an efficient manner? it would be a good thing to know about these calibres of your candidates before you change them into your employees.

Problem solving & decision making

The most important ingredient of an effective business setup is problem solving skills. If your candidates are good at their respective areas and tasks but they don’t have a neck at solving problems that won’t be a good thing for your business growth. You have to possess the right employees who know how to deal with the problems in the most prolific manner. Problem solving is really crucial in this present world. Anytime you can encounter a problem in your work and you should have some skills and knowledge to tackle with the situation.  If a problem does not get solved within time and efficiently, it can be disastrous for your business. When you have critical Reasoning Test in your recruitment drive, it would assess the problem solving capabilities of the candidates taking part in the hiring drive.

Then decision making is another important ingredient of productive staff. No matter how skilled or intelligent your employees are; if they don’t have the skills to undertake the things and take decisions when needed; they won’t be an asset to your business. There are always instances when you have to take decisions to ensure that the business grows.  If your employees hesitate to take decisions and they simply delay the things for this reason, it can turn out to be a loophole for your business growth. It is important that your staff members have the guts to take decisions when the need arises. In the absence of decisions, nobody can gain any effectiveness. Your business can collapse like a house of cards in the absence of decision making skills. Hence, there is a lot of prestige and importance associated with this attribute. You can make sure that your candidates have professional skills and knowledge to deal with the problems and take decisions with the help of critical testing. These tests are designed to get you the best information.

Customised tests

Even if you have some specific demands with the tests, you can always go for the customised versions of your critical tests. These critical tests are available in abundance and you can pick as per your requirement. However, if you want some specific things to be added or removed from the test, you can always get the test customised. In this way, you can be sure that your candidates are getting measured in the most prolific manner. There are many businessmen who use these tests to ensure that they are testing the areas of the candidates that matter the most to their business. Tests are always result oriented and get you the clear picture.

No partiality in critical tests

Many people have a doubt about the impartiality of the tests. Well, if you are new to the concept of pre-employment critical tests then it might surprise you that these tests are made in an exclusive manner. The tests are absolutely effective and not at all partial. Since the test has all questions same for everybody, there is no doubts about the genuineness of the test. Similarly, even the recruiters cannot do anything in this aspect. All the candidates give this test and then end up with a score as per their calibre and intelligence.  On the basis of these tests, the recruitment team make a decision. Certainly the pre-employment test is blended with the interview and resume too.  Maybe there is some amount of possibility of partiality in interview but not in these pre-employment tests. Scores are clear for everybody to see and whoever scores better, gets a seat in the next level of recruitment procedure.

Conclusion

So, in this complex and competitive world, critical thinking test is must for employees. You have to make sure that your staffs are equipped with critical thinking skills and for this you can use the best tests during the recruitment drive.

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Business News

High Power Binoculars for Better Vision in Hunting

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High Power Binoculars for Better Vision in Hunting

Not everyone can become a shooter or engage in the shooting. It needs determination, courage and a good level of precision, accuracy, and speed. There are several types of ranged weapons intended for different shooting purposes and persons. If you are the one to test the luck frequently or a professional shooter, you will certainly look for some accessories that help a lot in adding the real perfection to the shooting. (more…)

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Correct Torque Calculation

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Correct Torque Calculation

Calculation of tightening torque to preload a bolt is an important thing to check the force. All the formulas to check the correct calculation regarding nuts and bolts are mentioned in a popular book which is named as Machinery’s Handbook. So read forward to know some of the basic things which you need to take care for the tightening torque calculation for bolts. (more…)

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