Tag: custom elearning development companies

26 Aug 2021
insurance e-learning

How has technology made insurance e-learning mandatory? 

Insurance eLearning is a new field, but it has several advantages. The best part is that when insurers are trained in digital technologies, they can learn how to deal with other people in the organization.

How can insurance e-learning be delivered?

The webinars are effective in reaching a fair range of audiences. The attendants also have opportunities to talk to the speaker which is effective in enriching their knowledge. Although in-person training can be organized it is not a plausible solution when the learners belong to different countries. The insurance industry has undergone a drastic change ever since the pandemic happened. People have realized why a mortality protection policy is required. This need for an insurance policy has also been heightened due to the economic trend due to which job losses have become a common phenomenon. The middle class, although has expanded in economic terms, they have much more risks to handle. The generation of baby boomers has also taken insurance policies for their retirement savings because, by 2030, most of them will not be working anymore.

Changing role of insurance

So far, the primary role of insurance was believed to be protecting against unanticipated loss of life. But due to better health care and rising incomes, the life insurance policy won’t be such an in-demand product.

Insurance e-learning is about teaching insurers about better customer management, which includes keeping tabs on their health.

Every consumer today is using a smartwatch that can be integrated with insurance apps to deliver health-related updates to the insurer including blood pressure changes. These (internet of things) technologies have made sure that those who use them become omniscient. For example, the insured can be sent notifications and reminders through such apps about a healthy diet and daily exercise schedules and not alter their lifestyle patterns. Even any updates about scheduled doctor appointments can be sent. The insurance e-learning updates the insurers about how to handle such beneficial technical changes.

This kind of change has happened because 60% of the insured are willing to exchange their data and it’s no longer about the intrusion of privacy. So, the insurers are pleased with the control they have on their client’s mortality and hence charge them lower premiums.

The trend of sharing relevant information with insurers has become a feasible option during the pandemic. It’s because insurance companies have started relying on digital information transmitted through smart devices rather than physical examinations, not achievable due to social distancing norms.

The insurance companies have been able to attain so many benefits with such health monitoring such as lower policy lapse rates. Policy lapse can happen when the insured is no longer making premium payments and hence the insured ceases all the benefits. The policyholder gets a grace period of 30 days to make payments in case his insurance premium gets delayed. But once, such a grace period expires, the policy is considered lapsed. A policy premium payment is missed when the insured does not have funds due to rising health expenditure obligations.

The insured suffers a blow in case the policy lapses because he can’t receive a death benefit in case of term insurance. All his premiums are surrendered by the insured and his money is lost.

But with information sharing with the insurer, the insured can avoid such an outcome as a policy lapse because he does not become a victim of adverse health-related circumstances and inflated bills.

Continuous underwriting-Insurers must be taught about it

The insurance companies benefit due to the process of continuous underwriting where the prices of the insurance policy change. This happens because there is continuous evaluation of the consumer mortality risk and hence his premiums can be reduced.

The insurer will have a higher profit margin in case an insured continues to live a holistic lifestyle and his mortality risk is low and has a longer life span. This is much better than one-time underwriting which takes into account the past morbidity rates of the insured’s family and his hereditary disease patterns apart from his current lifestyle.

The decrease in premiums due to healthier lifestyles can incentivize an insured. Insurance e-learning can open a massive source of information for the insurers about this process and how to accumulate data about the insured from different sources. When an insurance policy is re-priced with lower insurance premiums, it’s a win-win situation for the insured because he realizes how much the insurer is concerned about him.

15 Jun 2021
custom elearning development companies

How to ensure greater participation in virtual meetings?

Psychological Safety is an important need when an eLearning program is developed. Now, what is psychological safety? There were a lot of upheavals when Covid-19 emerged on the scene. So many workers were sent to work from home. But there was one greatest impact of remote work i.e. people can ask questions from the trainer in virtual meetings without the danger of any negative effects. So how to ensure that participants in meetings can speak with full liberty without the fear of being punished or embarrassed i.e. they have psychological safety.

Lots of problems: In virtual meetings, however, there are other problems such as someone facing difficulties that can’t be detected. There will also be isolation among team members because they can’t see someone supporting them. There are many disturbances present like emails messages and calls on the phones or the laptops. But such virtual meetings are a necessity now especially due to the Covid-19 situation where no one wants to come to the office.

So, can how custom eLearning development companies can make sure that virtual meetings are a real success.

You can use technology to overcome all these obstacles in virtual meetings:

Raising hands: Raising your hands is an important way to give responses when you are in an online meeting. It can also be used to indicate that you want to mention something important to the attendees of such a meeting. But there can also be problems when employees unnecessarily raise their hands in response to a question without fully understanding it. Employees might also not raise their hands when they don’t want to disclose some confidential information.

Polls are an easy way to get information from the participants in a meeting. This includes voting on pertinent questions. No one knows who voted for which option, so privacy is maintained.

A quiz can be used:Employees can also be sent forms in the meetings in which they can choose an option. The best part is that even employees who are not attending the meetings can be sent such forms to get their input. But there is a problem that there are always just not 2 answers to a problem. It’s better to ask questions in chat through employees to get detailed responses.

Chats:Chats are also not a good option because they contain the name of the sender. Moreover, sometimes, so many chats are sent that some of them are ignored. When there needs to be some concentration in the room, the chat feature should not be on, so everyone can focus on the spoken words.

Breakout rooms: Breakout rooms are an easy way for participants to anonymously discuss topics. The participants still have separated themselves from the main meeting room don’t have to mute themselves so that others can’t hear them in the main meeting. When they leave the breakout rooms and rejoin the main meeting, they can share the breakout room’s idea.

This is how in time of this pandemic, meetings can be conducted without any loss of information and privacy.

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DSLR stands for Digital single-lens reflex camera. It has a digital imaging sensor. In this kind of camera, the captured image can be viewed in the viewfinder when the shutter button is pressed. Its shown through the main lens rather than through a secondary lens, so the user knows what has been captured. 

He was a German psychologist who is known for discovering the forgetting curve. According to this curve, the biggest decline in memory happens within 20 minutes, and then 1 hour.