Banking, Financial Services and Insurance (BFSI) Trends

Factoring services aim to improve cash flow within the businesses. These are solutions opted by businesses to sell their accounts receivable to a third-party. They are opted to maintain the working capital of the business. They help provide immediate access to a particular amount, reducing the wait time for the customer. Thus, they are majorly used by small and medium-sized organizations. In the process of factoring , businesses submit their invoice to a factoring company, which provides the amount between 70% and 90% to the business. The remaining balance is transferred after service fee deduction. The service fee of the factor depends on risk involved and the volume of the invoice received from the business.   Factoring services allow businesses to convert credit sales into instant cash without taking any loans . The cases where the business is responsible for customer failure of invoice payment are termed as recourse factoring. The cases where the factor accepts the ...

Health insurance has become an essential tool for managing the rising costs of healthcare around the world. It is valuable for providing financial protection against unexpected medical expenses and for enabling access to quality health care, encouraging preventive health behaviors, and reducing the risk of catastrophic health-related poverty. In the past f ew years , health insurance has undergone major innovations, expanding both in the variety of products offered and their applications across diverse user groups.   Exploring modern health insurance options   Traditionally, health insurance was available in a handful of formats such as individual plans and employer-sponsored group plans. However, these days, the menu of choices has grown substantially to reflect new needs, risk profiles, and lifestyle trends. Comprehensive health insurance plans offer broad coverage for hospitalization, surgeries, intensive care, maternity, and sometimes outpatient expenses. They ofte...