Benefits of Commercial Insurance

Commercial insurance is very useful to industries and oil rigs. Every businessman tries to maximize the profits and minimizes the cost. Almost everything in industry or factory should try to get covered by insurance policy. Thousands of workers work in companies and some accidents bound to happen. For suppose, oil spills, explosions, fire, injury may happen in oil rigs due to machine malfunction and so on. So business men should take a comprehensive policy.

Insurance companies launched commercial insurance to help the business men to protect from the risk of business, including:

a. Particular liability exposure arising from the business vehicles’ operation
b. Destruction or damage to business vehicles
c. Damage of destruction to inventory or office equipment
d. Loss or theft of equipment and tools
e. Particular business related liability exposures like, slander, search or wrongful entry and even particular faults happening out of business’ advertising
f. Fall of income in case business man has to close up shop temporarily due to covered loss
g. Risks to cargo while in storage or transit
i. Coverage of crime including burglary, robbery, employee dishonesty,etc.

In this way commercial insurance helps the businessmen in their business to remove the loss of damage or destruction.

Related Links:
Claims management software
Public liability insurance

Types of Vehicle Insurance

Every vehicle should have insurance to move on the roads and it is compulsory under the provisions of the vehicle insurance. People should purchase insurance for the vehicles, which may be used for domestic, business and pleasure purposes. Nobody should oppose this rule, as it is very important to have vehicle insurance. Moreover, if any person opposes this, they are subjected to punishment.

Different types of vehicle insurances are:

Comprehensive Auto insurance:
In this, insurance company insures all types of events like an accident or theft. Here, there is no need to show the fault to claim the insurance. In this insured can claim against the insurance company without showing any insurance details. If anybody steals insured’s vehicle then he is allowed by comprehensive insurance to claim against the insurance company.

Third party insurance:
In this, if any accident occurs due to fault of third party, then also company will cover the loss. But in other incidents company will not make any payment. In this owners can insure their old vehicles with no value or with little value and this is cheapest type of insurance.

Related Links:
Claims management software
Construction insurance

Benefits Of Retail Automation

Automation of retail stores provides many benefits to retail stores and also the customers. Few benefits are:

• Faster Billing: Automated systems can read many items at one time thus decreasing the time involved in generating a bill. This helps in directly boosting up sales.
• Customer Management: RFID based stand helps the customers to get complete product information just by placing the item to it. This help in increasing sales. It also helps in recording all customer purchase details in the server when the bill is created.
• Security: RFID provides real time visibility at each strategic points, problems like shrink, resulting from employee theft, shoplifting, administrative and paper error and vendor fraud can be simply reduced using this technology.
• Tracking of goods: The hand held reader helps in tracking certain goods in the back store quickly whereas manually it may consume lot of time to find a good where several goods are accumulated together in an unorganized pattern.
• Age Analysis: Tagging of products helps in identifying items quickly which are old. Manual identification of such items is a big pain for the employee. This would also guarantee quality product sold to the customers and old stock are removed in time decreasing material cost.
• Stock Verification: Using a hand held reader can recognize and collect information of many items in a day. This helps to quicken the process of stock collecting and verification but also makes stock taking on a more repeated basis which increases productivity.
• Monitoring items: Helps in supervising items on the shelves and produces an alert if certain item is absent from the shelf informing quick replacement.
• Better Product Management: Using the technology the employee can easily know whether a particular good is present in the front or back store and can serve the customer without any delays.