Duck Creek Training By Experts is Essential For Top Executives in the Insurance Industry

September 8th, 2017

Any industry, be it banking, finance or manufacturing, is powered by IT. It is no different for the insurance sector where tailor made solutions deliver better performance and it is imperative that executives in such environments know how to use the software. Training by experts is the answer to empowering top executives to handle the complex IT solutions such as Duck Creek in the insurance sector.

Duck Creek is an industry standard solution specifically created for use by insurance companies. Insurance companies need to track millions of customers and deliver outstanding services in order to stay competitive and Duck Creek provides end to end solutions. It is complex and covers the entire gamut of insurance operations. For instance, the software has modules to process applications and issue policies, endorse such policies, cancel and reinstate policies. Using the software one can track each customer, issue reminders, and bills in time and carry out a host of other activities including reports and analytics to derive business intelligence. Given the complexity, it is not surprising that executives and managers operating the software often come up against roadblocks, especially when handling claims. This is where Duck Creek Training by specialized institutions comes to their rescue

It is not easy to learn the extended features of this solution in a day. Training by experts is essential. Why experts? This is because experts with industry experience and a background of training in this software can transfer knowledge to busy managers tailored to their requirements in just the right way. Classroom training, whether held within the company premises or in the trainer’s premise is one way to undergo training but it is far better to opt for training institutions that offer online training. This method allows executives located as far apart as London, New York and Bangalore to access training modules whenever they have time and also get access to a trainer should they have any queries. Webex, GoToMeeting and skype are popular methods of conducting sessions online but a trainer may also offer online training through its site.

Customization in training modules and sessions is the key to how quickly managers learn precisely what is of use to them in their day to day activities. Expertise in knowledge on the part of the trainers contributes to analysing requirements and tailoring training sessions, another reason to prefer only recognized institutions for global Duck Creek training online or in the classroom method.

What is of even more importance is post training support. It is natural that even after training managers will face problems in the usage of Duck Creek and this where continuing support proves to be a decider in the selection of the right training institute. The right Institute will always have available experts to provide guidance until the trainees become adept.

Facts About Bank Guarantee Funding

September 8th, 2017

A lot of individuals especially business owners are struggling to achieve financial stability. That is why, they are looking for services that can help them. Fortunately, banking and lending companies provide different financial services. And, one of the most popular services business owners make use of is a bank guarantee funding.

What is Bank Guarantee?

A bank guarantee is a service offered by a banking or lending institution to ensure that liabilities of a debtor will be met. Therefore, if a debtor has failed to settle their debts, the bank or lending company will cover it.

Some financial experts claim that bank guarantees have similar characteristics to other financial instruments, but they are unique due to their high value, flexibility, resale potential, and discount. As a result, this allows the investor to earn interest with minimal risk, while still retaining access to liquidity.

Benefits of Bank Guarantees

As of now, sellers and customers can make use of funding solution into their advantage since it offers wonderful features. These include the following.

First and foremost, buyers are not required to make the advance payment in case of bank guarantee. Because of this, they can make use of their funds in other important ventures.

When using such funding, buyers can also make use of various opportunities since they can work with different and reliable partners at local and international markets.

This funding solution also protect sellers from they are able to perform prompt sales without asking advance payment.

Finally, this funding solution also requires less number of documents as well as no necessity for collateral. Thus, individuals who apply for a bank guarantee can receive funding within shorter periods of time. Not to mention, commission fee for such services is also very low.

Types of Bank Guarantees

In order to accommodate the needs of individuals, banking and lending institutions offer different types of bank guarantees such as:

Advance Payment Guarantee – Advance payment is a type of guarantee that is commonly used by a buyer in order to give you partial payments. This guarantee also acts as an insurance that the partial payment will be returned if certain conditions are not met.

Letter of Credit – This type of guarantee is issued by a bank to a buyer to pay for products or services. However, this can only be used when sellers comply the terms and conditions of the credit.

Tender Guarantee – Tender guarantee also known as bid bond is used by companies who wish to work with large companies. With this guarantee, companies can provide the assurance their partners are looking for.

These are only some of the facts that individuals need to know to help them make their finances better and more effective.