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Insurance brokerage

Risk Management In Insurance

Posted by Admin on 10 Jan 2023

Insurance trends are ever-changing, so it is only fair to calculate the risks involved so everyone can get fair cover. The insurance industry is a pool where everyone puts in the money and then that money is used to serve the ones in need. So it is a collective fund from which anyone can benefit.What Is Insurance Risk Management?Insurance risk management is the skill of foreseeing and predicting possible risks from a customer’s point of view and making decisions based on those predicted events. This helps manage the flow of money for the ones in need. It also involves mathematical and statistical approaches to determine the premium and to calculate how much amount can be held and how much can be distributed.How Does It Work?Most of it is determined by how much risk a company can afford to bear. Then the premium pricing and marketing strategy are determined by keeping these goals in sight. This helps assist clients to foresee the risk events and how the claim rate will change in the future. This helps with a more market-responsive, risk-based pricing approach. This helps to enhance the feedback process from claims function to underwriting and product development. Which then helps regulate the plans and premiums accordingly for the clients.Why Is Risk Management Important In Insurance?Risk management in insurance refers to finding the possible threats in the future and eradicating them as much as possible. The trust of many clients depends on the insurer's capability of managing such risks. Risk management helps identify the threats and through research and teamwork, these threats are identified and taken care of ahead of time.How Do Insurance Companies Manage  Risk?Insurance companies can manage risk by implementing the most precise underwriting and creating a portfolio that minimizes the risk. Other steps include implementing a claims reserve policy, improving the core insurance practices, and collaborating with people who are pros at the technicalities of insurance.In conclusion, risk management helps get a clear and structured approach to identify and eradicate upcoming dangers and risks. Having a clear understanding of what we will be dealing with in the future is the key to constructing the best possible outcome for both clients and yourself. Even though risk and loss are inevitable to some extent but with the right leadership the company can lower the risk to a significant extent helping in fast-tracking the growth of the company. Let’s Compare is an online insurance comparison platform where you can buy insurance packages online from the insurer of your choice and the plan that suits your needs best. We are partners with the best insurance companies across the country, they have secured their reputation as the best risk management insurers and have their clients’ trust which makes us reliable for being affiliated with them. We have plans for health, car, and travel, and our new plans include bike insurance, marine insurance, and fire insurance! So get insured now with Let’s Compare!

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Travel Insurance in Pakistan

Travel Bucket List For 2023

Posted by Admin on 09 Jan 2023

The new year comes with new plans and you should make some new plans and new travel resolutions for 2023! We have compiled a travel bucket list for you to follow while you travel. Let’s look at a few things you can do to make your travels amazing. Make More Time For TravelWe get it, time isn't the issue here. Money is! With ever-increasing inflation, it is hard to take out the budget to travel. To set aside the budget, you need to plan your trips ahead of time and budget accordingly. Search up the hotels you’ll be staying at, or better yet if you have a willing relative who can let you stay at their place, that can financially help with it. You can help them out with groceries and other services so as to not be a burden on them. This is how you can save up and have more time for travel. Having a travel insurance policy can also help significantly in saving up money!Learn A New LanguageWhether you travel or not, learning a new language will never go in vain. Learn a new language and hold hope to travel to the relevant country. Have you ever wondered why people of a specific region are experts in specific things? Like Chinese are generally good at math and Australians are good at directions. That’s because their conversation consists of those terms which help them have an upper hand. So learning a new language may unlock your hidden skill and make you a pro at that!Stop Overpacking!While traveling to and from the destination, make a pact to not overpack. Only pack the essentials and while coming back don’t stuff yourself with unnecessary items. Make a list of items that you can find back home and try not to spend your money on those. This is essential because sometimes when you overpack and the fortune is not on your side, you might end up spending money for nothing because they will ask you to unload many of your precious items resulting in the loss. Have Some Street Food!When vacationing, we want to try new things in new places with some extra experience. Which is how we end up spending extra unnecessary money. Especially on food! If you are looking for something truly authentic and on a budget, you must promise to try street food. Street food in an area is the most authentic cuisine one can try, made from local ingredients. It is also not expensive, so it’s a win-win!Travel To Help And VolunteerOne of the reasons you can travel is to help those in need. You can volunteer in refugee camps or be a sitter for the elderly while you travel. And since no labor goes unpaid for the most part so you may gain some experience or someone who is kind enough may even give you a few quick bucks! You can choose to do this if you are an empath and are enthusiastic about helping others in their time of need. Be A Responsible TravelerBeing a responsible traveler does not mean you should be ready to jump into a combative situation to help others at all times! As the popular saying goes, “Everyone wants to save the world but no one wants to help their mom do the dishes!” you are way less likely to run into an accident than to fall sick. So why not get yourself protected against all odds along with your loved ones than waiting for a life-changing event to be a superhero? So get insured before you decide to travel. Get travel insurance quotes online now!

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Auto tax in Pakistan

How To Pay Online Vehicle Tax Payment In Pakistan

Posted by Admin on 04 Jan 2023

Along with car insurance, another ease for the citizens of Pakistan is the access to pay vehicle tax online. This has revolutionized the process of tax payment. The app can not only be used by car owners but also by motorcycle owners to pay taxes. All four provinces have their own app designed for the area that enables customers to pay taxes from the comfort of their homes. Both car and bike owners can benefit from this. Most of the functionality is the same for all the provinces. Let’s take a look at how one can pay taxes using the app for each province.PunjabLink to pay taxes in Punjab:  https://excise.punjab.gov.pk/motorvehicle_taxSindhLink to pay taxes in Sindh:  https://excise.gos.pk/taxes/motor-vehicle-tax/BalochistanLink to pay taxes in Balochistan:  https://bra.gob.pk/HowtopayTaxes.aspxKhyber PakhtunkhwaLink to pay taxes in Khyber Pakhtunkhwa: http://www.kpexcise.gov.pk/app/motor-vehicle-taxes/ All these websites contain an elaborate guide on how to pay taxes but below we will be explaining precisely how one can pay the taxes via the website.How To Pay Vehicle Taxes Online?Once you have your vehicle, either you bought a new vehicle or there was a transfer of ownership you should make sure that the previous taxes and tokens were paid before handing the vehicle to you. If not, calculate your taxes through a tax calculator app. These are calculated considering the category and engine capacity. Once all the details are confirmed, you are now ready to move to the next step. Now you should calculate your tax with the help of a tax calculator, which will help you know how much tax you need to pay. This should be easy as it is the norm. Other than that some provinces may want you to download the app from the play store or app store, sign up and pay taxes through the app.Online Tax Payment Method In PunjabThe Punjab IT Board developed an app under the instruction of the Finance Department of Punjab which helps taxpayers to access it easily to pay their tokens and taxes. To pay the tax, follow the below instructions:Download the Punjab e-pay app from the app store.Sign up to get started.Select token tax under the excise and taxation department.Enter your vehicle's registration number. This is the alphanumeric combination on your number plate.After the details are confirmed, generate the challan. Note down the PSID number provided to pay the tax. Online Tax Payment Method In SindhTo pay taxes in Sindh: Go to the relevant excise department website and click on Online Tax Payment.Now select Quick Pay on the tab that opened. Enter your mobile number and vehicle registration number.Calculate the tax you owe and generate the PSID to pay the tax.  Options To Pay TaxYou can pay tax through ATMs, Net Banking, or Bank Branches. Let’s look at each one in detail and how you can pay the surcharge through them.ATMOnce you enter your pin through the ATM, you should click on the tax payment tab. Select the excise tax payment from the main menu. Enter the PSID number issued to you. The amount against the PSID should be automatically fetched and displayed, which you can confirm to pay. Net BankingSign in to your banking app and under the Bill Payment option, select the option of tax payment. Select the excise tax payment option. Enter the PSID and the amount should be fetched automatically. Transfer the amount and you will receive a text on your phone confirming the transaction. Bank BranchesVisit the nearest bank branch and provide them with your PSID and other relevant documents, after that you can pay the vehicle tax. 

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Insurance brokerage

Best Locations To Visit In Karachi In 2023

Posted by Admin on 30 Dec 2022

Vacations are a great time and opportunity to catch up and explore new places with your family. Karachi is widespread with various attraction points for families and holds a rich mix of fun and education. Some places you can visit to have a good family time and enjoy fun activities and others you can take your kids to and the whole family can learn something new. Let’s look at some of these places!Mazar-e-QuaidA great source of historic information and the final resting place for Quaid-e-Azam, Mohammad Ali Jinnah. It is usually peaceful on regular days however on national holidays it is bound to be chaotic. While all that chaos might be enjoyable for some but if you are taking your children along seeking some good knowledge then you should go on a regular day and pay your respect while providing information to the younglings. Sea View CliftonWidely known for its sea view, Clifton Karachi is a must on your bucket list. It has to be an amazing experience watching the sunset on the beach. The sandy beach with cool water splashing on their feet is an experience everyone should have once in their life. It is a perfect family spot for children to have the best of both worlds in sand and water. Extravagant sand castles and subtle beach waves are bound to keep your children occupied for the longest time. However, you need to keep a keen eye on young children and not leave them unsupervised in the vast ocean.Charna IslandFamous for its colorful inhabitants and radiant underwater views, Charna Island is a spot to get your adrenaline kicked in. It is located in the middle of the sea as a giant rock. It holds space for many activities like scuba diving, snorkeling, cliff diving, and underwater photography. It is also used by the navy as a shooting spot and is also popular among fishermen to catch fish of different species. It is also a great source of information and interest for children with its very inhabitants of different kinds. Toobah MasjidAlso known as the Gol Masjid is a sight to behold. It is made of white marble and is the largest single-dome mosque in the world and the 18th largest mosque with the capacity to hold 5,000 people in the prayer hall. The mosque is made effectively to carry the smallest sound from one corner to another without the help of a megaphone which is very impressive given the era it was built in. It is a good place to have a once-in-a-lifetime chance to pray in some place you and your children will remember for the rest of their life. Hawks’ BayHawk’s Bay is the perfect space to have a peaceful evening and also if you are a horseback rider and camel enthusiast, you have a perfect spot. Also, going with family can keep the children occupied for longer while you enjoy the romantic sunset with your partner! It is a perfect family spot, so hop along and enjoy your stay!Haleji LakeHaleji lake is a sight to behold in the bird migration season. Here you can find the kinds of birds that cannot be seen anywhere in Pakistan. It has to be a must on your bucket list if you are a bird enthusiast. But keep in mind not to disturb their peace and try to live in harmony with nature!Museum 101Museums are the ultimate source of great information whenever you go to any place! It holds riches from all across the country ranging from old civilizations to the present day. It is a relatively new attraction and this should be the sole reason to check it out other than it being a great source of knowledge for yourself and your kids.Frere HallOne of the very few structures from the British era that is still standing today. It was the center for social and cultural activities in those times. It is still open to the public. On Sunday it holds a book fair so if you’re lucky you might find some gold buried in the rubble there on Sundays! It also holds a library and paintings by the honored Sadequain which are the art that deserves to be seen for their intricate details.Empress MarketEmpress Market is another one reminiscent of the British era. It is located in the busiest area, in the hustle and bustle of Saddar. It was founded by James Fergusson in honor of Queen Victoria. Now it is one of the main spots in Karachi and is known for holding all the household items. Chaukhani TombsReminiscent of an old civilization, these tombs are a sight to behold. They represent the civilization and the societal roles of their members perfectly. Most of the tombs represent the family graveyard with the marking on the tombstones representing male and female members with the engravings. Female members have engravings like jewelry and other embellishments while male members have armor, swords, and other war items to represent them.Jinnah House MuseumJinnah House where once our founding father rested is now a place for the public to visit and get the chance to have a glimpse inside his simple yet classy lifestyle along with the traces of his beloved sister Fatima Jinnah, who lived there after his demise till 1964. It was neglected for the longest time until 1985 and then restored and now it is open for the public to look into his lifestyle!These are some well-known and peaceful family excursion spots in Karachi and you should definitely add them to your bucket list! Also, do not forget to get insured with Let’s Compare! Check out our elaborated travel insurance plans for your next trip!

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Travel Insurance in Pakistan

Does Travel Insurance From Pakistan Cover Extreme Sports

Posted by Admin on 27 Dec 2022

Travel insurance is quite a wide topic to explore whether you are traveling or just came across it for research. If you are traveling and have questions, it is better to ask the insurance agent what your concern is rather than spending hours trying to find an answer in a rush and making a decision that may not benefit you later.Today, we will be covering whether or not travel insurance covers extreme sports or not. Let’s look at it!What Are Extreme Sports To Travel For?Some people are adventurous and can go to any length for the much-needed adrenaline. Some sports are to travel for because they are not safe for the limited area in your hometown. Or the country you reside in simply does not have the resources. Perhaps you want to swim in a coral reef or with sharks. People all across the world travel for paragliding, ice climbing, surfing, scuba diving, sledding, and skiing. Some of these sports can go extremely wrong if done unsupervised or recklessly. Hence one always has to be a bit uniform when dealing with chaos. Let’s look at how these sports can be risky and cause serious injuries.Falling Off The HeightMany of these sports involve the risk of falling off from a great height like paragliding, or ice climbing. If you have a regular insurance plan, you might be questioned about how you fell and why you were involved in an activity like this in the first place and cancel your claim.To make sure that this does not happen, get an insurance policy that will cover you're being involved in a risky sport. Even when you are insured it is important to ensure that you are performing such sports under professional supervision and get your gear checked before you start your adventure. Getting StuckThis might seem like a normal and not too risky situation to be in but it can go horribly wrong with slow death following along with claustrophobia and your body giving up one organ at a time. In an incident involving two brothers cave diving in a cave called Nutty Putty Cave near the lake of Utah, one of them got stuck in what was supposed to be the “Birth Canal” and died a slow, painful, and extremely claustrophobia-inducing death. His body was left there and the spot was covered followed by protective measures from the government and labeling of the correct Birth Canal.To avoid freak accidents like this, one should always be paired with a local expert who has been there many times and is sure of where the correct spots are rather than guessing. Getting Attacked By An AnimalMany sports involving animals like scuba diving, safari, or San Fermin Festival in Spain involving running along the bulls can involve getting mauled or trampled by an animal trying to protect either itself or its territory. To ensure safety make sure that you are not unsupervised and to ensure the cover make sure you have the right type of travel insurance policy.This is all you need to know about how to get adequate cover for dangerous sports. Let’s Compare is an online insurance comparison platform working to make lives better and upgrade the standard of living for their clients. So get insured now!

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Health Insurance in Pakistan

What Health Insurance Advice Should I Take Along In 2023

Posted by Admin on 26 Dec 2022

In Pakistan, health-related concerns are not taken seriously when it comes to financial planning. Our nation seriously lacks the education and planning required to budget for one's health and how to ensure that your finances stay safe when it comes to one’s health. As unfortunate as this is that the public is not concerned about saving finances for health, it is also to be noted that the clients are more concerned about their car or other aspects since the department of car insurance in Pakistan has seen a significant rise in sales. Hence, people are more concerned about their material assets than their health. You can achieve it all when you are healthy and well-kept. So let’s look at why you should have health insurance in 2023 and what are the guidelines to have insurance!What Is Health Insurance?Health insurance is a policy document that ensures financial coverage for your medical expenses. The best health policy document contains terms and conditions where it states company policy and what benefits you have. Before buying an insurance policy you can also download the policy document that is attached to each policy. This document should tell you all the perks you have and what you don’t have in your insurance package. Similarly, you can read the rest of the documents and find out the ones that suit you the best.What Are The Features Of A Best Health Insurance?A primary health insurance policy serves you in many ways. It provides outpatient coverage, inpatient pre and post-hospitalization cost, intensive care charges, surgical fees, operation theater charges, accidental coverage, maternity, lifelong illnesses, and many other aspects of health.All in all, a health insurance policy serves you in many ways, especially in this era of inflation where healthcare prices have skyrocketed. What Plans Are Available For Health Insurance In Pakistan?There are many plans available for health insurance in Pakistan depending on how much coverage you want and what kind of coverage you are looking for. Some of the plans are discussed below in detail. Inpatient Pre And Post HospitalizationThis includes emergency cover in case of an accident or an unexpected illness. It also includes ICU charges, operation theater charges, blood and oxygen supply charges, prescribed medicines, diagnostic investigations, and daycare procedures like dialysis and chemotherapy.Other than that it also includes emergency ambulance charges, emergency hospitalization abroad, and outpatient, and maternity. What Is Personal Health Insurance Plan?Personal or individual health insurance plans are often cheaper than other plans while providing full coverage and less hassle. They cover you financially providing great financial aid. What Is Covered In Family Health Insurance Plan?Family health insurance plans target families consisting of yourself, your spouse, and your children till the age of 23. After 23, your children are no longer eligible for a family health insurance plan. Similarly, girls over the age of 23, or if they are married, will no longer be eligible for the same health insurance policy in Pakistan as their parents. What Is A Senior Citizen Health Insurance Plan In Pakistan?Regular health insurance policies do not cover you if you are over the age of 45. After 45 you should opt for a different insurance plan that is extensively designed for your age group. Some of them cover pre-existing conditions and other issues related to old age. Women's Health Insurance PlansMaternity plans are available for women in Pakistan as well. They cover all the problems majorly related to women like pregnancy, childbirth, female-targeted cancers like breast cancer, body burns, paralysis, etc. these covers are all effective three months after buying insurance. This means you need to have a health insurance plan three months before conceiving. Comprehensive Health Insurance PolicyComprehensive health insurance plans are often expensive but they are much less hassle than other insurance plans. They are expensive initially but in the long run, they are cheaper and the initial expense usually pays off in later years. How To Buy Health Insurance Policy In Pakistan?Buying health insurance in Pakistan is convenient now that you can do so from the comfort of your own home. You can visit our website letscompare.pk and not only compare insurance policies but different insurers to each other to make a better decision and buy the best-suited plan for your needs. What Do I Need To Buy Health Insurance from Pakistan?To buy health insurance Pakistan all you need is your ID card and the ID cards of your family. If your children are below 18 you can submit any identification document with their citizenship number. Other than that you may need any other documents required by your insurer.Cross Checking The DetailsYou should always cross-check the details when buying medical insurance or at the time of policy renewal. If you initially had a family plan including children, make sure that you cross-check your ages and marital status. Other than that check for any new illnesses and other factors that may affect your health insurance coverage or cause an issue when you file a claim.What Hospitals Are On Board?When buying insurance, ask them for the list of hospitals on board. This will give you a better idea of who to opt for. A better tip for this is to visit your local hospital that you are satisfied with and ask for the insurers on board and select the one that suits you best. What Is A Premium In Health Insurance?Premium is the final deciding factor when buying insurance. While buying a health policy that is not heavy on your pocket you should make sure that the policy is justifying the premium. A lower premium should not compromise your benefits so make sure that even with the lower premium you are given the cover worth the price. Otherwise, compare your policy with other insurers and you might find a better one with an even lower premium.Conclusion:These are all the tidbits that you need to know for buying health insurance in 2023. Let’s Compare is an online insurance comparison platform working to gain the trust of its clients with the best customer service and reputed insurers on board. So go get insured now!Related Topics:What Car Insurance Advice Should I Take Along In 2023?What Travel Insurance Advice Should I Take Along In 2023?