Category Archives: Insurance

Insurance News Tips

3 Advantages Of Getting Audit Shield Insurance

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You never know when you or your business is going to be subjected to an official audit by the Australian Taxation Office (ATO). Aside from the ATO, the tax enquiry can also be conducted by other relevant government agencies such as state, federaland territory based offices. These agenciesare sanctioned by the Australian government to look into your tax records. The only thing about these tax audits is that, whether the authorities find anything irregular on your books or not, the person or business being audited would have to shoulder the professional fees and charges incurred in the process. This is the reason why most businesses and professionals obtain Audit Shield to protect them against financial difficulties during and after the review. Here are some of the advantages that you can get out of having a tax audit insurance.

Professional services

Having the authorities check on your books and tax records can be intimidating especially if you do not have an accounting background. Without experience and professional background, you can get confused with the process. Aside from that, the process is time-consuming. To save yourself from the hassles of random audits, hire professional tax accountants and get an insurance to cover you during the process. With a professional accountant to represent you, you can deliver other tasks expected from you by your office despite the tax enquiry.

Protection against expenses

Tax audits by ATO and other government authorities can incur professional fees and charges. Without tax insurance by Audit Shield or your preferred tax audit insurance company, you can get financially shocked especially if you are not ready for it.

Peace of mind

One of the advantages of hiring the services of Audit Shield is you will more confidence in dealing with the government authorities because you have an expert to help you out in the process. You will also not be financially encumbered because you have an insurance to shoulder the expenses. Choose a tax insurance company that has been in the business for a good number of years and one that is trusted by more clients and businesses in Australia.

Insurance

Insurance Selling Strategies

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Chinese insurer Ping An is above par with Germany’s Allianz. The company is known as the world’s most valuable insurance brand. It’s actually the first time for a Chinese company to increase its apex with the global 100 most valuable companies, Britain’s Brand Finance reports. Certainly, it has implemented insurance selling strategies, which contributed towards its success.

Ping An is the second largest insurer in China. The brand has an estimate of US$16-billion in 2017, a 29% increase in 2016, according to Brand Finance. Meanwhile, Allianz has an estimated value of US$15-billion taking its second place.

China’s largest life insurer, China Life Insurance, remained unaltered at third place with an estimated value of US$10.3-billion.

Chief executive of Brand Finance David Haigh says, “Ping An has idealistic ambitions to become the world’s leading provider of personal finance. Based on evidence, it can happen on a long-term view.”

Ping An, settled in Shanghai and Shenzhen, reported a profit of US$19-billion in 2016. Its chairman and founder Peter Ma Mingzhenow claims a sales network force of 1.1-million insurance agents since it was founded in 1988. The sales force knows how to use insurance selling strategies, which gained billions for the company.

Over the past decades, the company boosted its Internet sales by financially selling insurance products, health care, real estate and cars. It also variegated with its Internet lending and wealth management financial platforms, making Ping An a successful insurance business this year.

Meanwhile, Allianz’s estimated value dropped as its revenueswere pulled down by higher incidents of floods and storms in Europe. Furthermore, a decline in sales from its South Korean business also impaired its profits.

However, retirement products for Allianz remain strong with Europe’s aging group having long-term benefits for the prominent brand.

AIA, Hong Kong’s biggest insurer and the largest in Asia, ranked fourth while French insurer AXA ranked fifth on the list.

The largest insurer in the US, Met Life dropped from fifth place last year to the ninth this year with its estimated value of US$6.6-billion. However, Met Life is planning a rebranding application, with a change of logo and eliminating a 30-year association of Snoopy as it wants a more serious concept of the image. It definitely needs to improve its insurance selling strategies to increase its ranking.