Does insurance reimburse GST?
GST is payable on premiums for group medical and Shield insurance plans because these are payments for `consumption? of protection services. 3. GST is not payable for life insurance premiums because these contain a savings component.
Is maid levy tax deductible?
You may claim twice the total foreign domestic worker levy paid in the previous year on one foreign domestic worker. The total amount of all tax reliefs an individual can claim is capped at $80,000 for each Year of Assessment. For more information, please visit IRAS’s website.
What are the four tips to ensure customer satisfaction?
Ask for feedback and take action. Offer multiple forms of communication for customer support. Design a custom contact form. Respond in a timely manner. Provide 24/7 customer support. Create customer rewards. Give transparent information.
What is the key to successful customer retention?
The answer is simple, by listening to them and understanding their needs. Never miss out on any opportunity to surprise your customers. Try to deliver better service at a lower cost, do more than they were expecting. Treat them as special people and you will for sure improve customer retention programs.
What is customer retention technique?
Customer retention refers to a company’s ability to turn customers into repeat buyers and prevent them from switching to a competitor. It indicates whether your product and the quality of your service please your existing customers.
What causes poor customer retention?
Their needs are ignored – All too often, companies don’t implement customer feedback or respond to complaints in a timely manner. Unexpected issues arise – The customer may signup for a product expecting it go smoothly, but they inevitably run into frustrating issues that they weren’t anticipating.
What is an example for active retention?
A company saving money periodically for the purpose of providing a pension for its employees in the future is engaging in active retention. An individual who sets aside a portion of their income for hospitalization or health care is another example of active retention.
What is insurance renewal and retention?
Renewal retention rate is the inverse to lapse rate. It is a highly important KPI to prove recurring revenue, which essentially means the company doesn’t start from zero revenue each year. The company has a predictable base of policyholders upon which to rely for revenue as the company continues to grow.
How do you build customer loyalty?
Offer Discounts. Reward Customers. Promote Your Rewards Program. Encourage Referrals. Create a Point System. Partner with Another Company. Set Up a Subscription Service. Ask for Feedback.
What are the 7 principles of customer satisfaction?
Support customers as a team. Listen to customers (and share their feedback) Spend time building relationships. Be honest about what you don’t know. Practice empathy. Know your product. Remember – every second counts.
How much expenses can I claim without receipts?
If you purchased work-related items, whether working from home or in the office, you can claim up to $300. There may be a chance that you are eligible to claim more than this, but without the evidence you made these purchases, you are limited. So, if you want to claim more, you need to retain receipts.
Is rent expense tax deductible in Singapore?
Deducting Your Rental Property Expenses While Singapore charges taxes on rental income, it tends to give property owners the benefit of deducting property expenses from their taxable income.
What are the three pillars of customer retention?
Providing simplicity, building trust, and ensuring ongoing recognition of customers are the three pillars to customer retention and ongoing loyalty.
How do I improve customer retention?
Retain customers with a smooth onboarding process. First impressions are everything. Create a customer feedback loop. One of the biggest keys to retaining customers is to know how they feel. Keep your products and services top of mind. Reward promoters and loyal customers.
What is the first step of customer retention?
Customer onboarding may be one of the most critical touchpoints or milestones in your customer lifecycle. It really is the first step toward retaining that new customer. So how should you approach onboarding your new customers? One good place to start is to look at all the firsts that new customers may experience.
What is passive retention in insurance?
Unplanned acceptance of losses because of failure to identify risk, failure to act, or forgetting to act.
What are the goals of risk retention in insurance?
The goal of risk retention is to do what is best for everyone involved in your company. That requires careful planning and decision making. Setting up a risk retention group or joining an existing one has steps that rely on state regulations.
What are the three steps to increase customer satisfaction?
Understand customer expectations. Experience the journey yourself. Connect with your agents. Treat your customers right. Train your teams. Reduce wait times. Offer multi-channel help. Listen to your customers.
How can I serve customers better?
Listening, understanding your customer’s needs, thanking the customer and promoting a positive, helpful and friendly environment will ensure they leave with a great impression. A happy customer will return often and is likely to spend more. They may also refer other people to your business.
What are the 5 options for satisfaction?
Very satisfied. Somewhat satisfied. Neither satisfied nor dissatisfied. Somewhat dissatisfied. Very dissatisfied.