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Most recents (14)
Have you ever been in a situation where you’ve tried to solve a problem, but ended up aggravating it?
Well, there’s a name for that situation - The Cobra Effect. Here's all you need to know about it.
Thread 👇(1/n)
Well, there’s a name for that situation - The Cobra Effect. Here's all you need to know about it.
Thread 👇(1/n)
The name finds its roots in an anecdote about the British in colonial India, who offered cash to locals who would deliver dead snake skins.
Instead of reducing the mushrooming number of snakes, this created ‘perverse incentives’ for Indians. Yes, people started breeding snakes to get rewards.
And this is applicable even today.
And this is applicable even today.
🚀The number of people porting their #health policies to a higher sum insured rose from 30% in 2020 to 80% in 2021 between the months of March to May.
Pretty shocking!
Everyone's porting their health policies, should you?
A thread... (1/10)
Pretty shocking!
Everyone's porting their health policies, should you?
A thread... (1/10)
Porting is basically a process that allows you to change insurers or policies without losing the benefits of waiting periods you've already jumped over.
So you get to change your terms and the insured amount while making sure that you don't lose these benefits. Amazing! (2/10)
So you get to change your terms and the insured amount while making sure that you don't lose these benefits. Amazing! (2/10)
💡Now ever since the pandemic, #insurance has seen a much-awaited revolution with a jump in sales - 40% from the previous year. But this isn't the only reason why people are porting. (3/10)
1./ Have you ever been in a situation where you’ve tried to solve a problem, but ended up aggravating it?
Well, there’s a name for that situation - The Cobra Effect.
🧵...
Well, there’s a name for that situation - The Cobra Effect.
🧵...
2./ The name finds its roots in an anecdote about the British in colonial India, who offered cash to locals who would deliver dead snake skins.
3./ Instead of reducing the mushrooming number of snakes, this created ‘perverse incentives’ for Indians. Yes, people started breeding snakes to get rewards.
And this is applicable even today.
And this is applicable even today.
Happy Birthday 2 us :)
(1/4)
(1/4)
Just 2 years ago, if someone told us that Finshots would receive the Google Play Best of 2020 Award, establish a podcast with 2M+ listens, and become one of the most widely-read financial newsletters with 350k+ readers- we'd have laughed.
(2/4)
(2/4)
But due to the support from all of you readers and well-wishers, we didn't only evolve as a brand, but also as a community. And we don't want to stop at just simplifying financial news. We want to simplify all things finance.
(3/4)
(3/4)
Can time really be used as money?
While we’ve all heard of the famous phrase “Time is money”, IKEA went a step further and took it literally. (1/8)
While we’ve all heard of the famous phrase “Time is money”, IKEA went a step further and took it literally. (1/8)
That’s right, last year IKEA Dubai began accepting time as a form of #money, which was dubbed as their campaign “Buy with your time”. And by this, they mean not just any time, but the time it takes you to drive to an IKEA store. (2/8)
But why did they do it? The thing is, due to their requirement of a spacious mega store, most IKEA outlets are located in the outskirts of a city. Due to this, customers have to spend long hours commuting. (3/8)
Black widow has declared war against Disney, and it looks bad.
Last week, a feud fuelled up as Scarlett Johansson went ahead to sue Disney.
Last week, a feud fuelled up as Scarlett Johansson went ahead to sue Disney.
The actress claimed a breach in her contract after the release of the latest Black Widow movie in theatres & on Disney+ premier access simultaneously. How?
How does the pain of paying affect spending?
Thread. (credit card series part 2)
Thread. (credit card series part 2)
In fact, in a 2001 study by MIT professors, it was seen that the area of the brain associated with pain, i.e. the insula, lights up like a Christmas tree when you watch someone pay with cash as opposed to a credit card.
But why?
But why?
Well, there’s a phenomenon called “The Pain of Paying”. When you buy things with cash, you have less of it in the wallet.
What insurance do Olympic athletes buy?
A thread.
A thread.
Imagine you’re an Olympic Athlete. You’ve spent years preparing for this moment, and now it’s your time to shine.
The weight of the nation on your shoulders and the pressure to bring home the gold. Yet, you must remain calm and composed.
The weight of the nation on your shoulders and the pressure to bring home the gold. Yet, you must remain calm and composed.
But then the unthinkable happens. You’re met with a career-ending injury. What now?
You lose sponsors, but more importantly, you most probably won’t ever be able to play the sport you dedicated your life to. It seems like you’ve hit the end of the road.
You lose sponsors, but more importantly, you most probably won’t ever be able to play the sport you dedicated your life to. It seems like you’ve hit the end of the road.
I still remember when I was in the 10th grade, my father passed on one of the most life-changing books for me.
The Warren Buffett Way by Robert Hagstrom.
A thread.
The Warren Buffett Way by Robert Hagstrom.
A thread.
Life-changing how?
Well, it was the first time somebody had shown me a glimpse of the magic of financial markets.
Well, it was the first time somebody had shown me a glimpse of the magic of financial markets.
In fact, my curiosity was piqued to such an extent that I'd carry the book around everywhere I went.
But there was one particular bit in the book that outright blew my mind.
But there was one particular bit in the book that outright blew my mind.
What do rats teach us about misplaced incentives?
A must-read thread🧵
A must-read thread🧵
Rats are trouble.
And in 19th century Hanoi, they were deadly too.
And in 19th century Hanoi, they were deadly too.
These furry little creatures carried the bubonic plague and in the French colony of Hanoi, officers were livid to see their numbers grow exponentially.
Some unusual insurance policies that you've probably not heard of.
Thread 🧵
Thread 🧵
1.) Death by Laughter Insurance
So you think you’re so hilarious that you could make people laugh themselves to death? Well then this is the perfect insurance for you.
So you think you’re so hilarious that you could make people laugh themselves to death? Well then this is the perfect insurance for you.
Introduced by Lloyd’s of London, this is a unique kind of liability coverage designed to protect stand-up comics or anyone who has a killer sense of humor, literally.
👉Did you know that your insurer can restore your #insurance cover after you've made a claim?
How exactly?
A thread...
How exactly?
A thread...
👉It’s a Sunday morning and you’re sipping coffee on the hospital bed. You are thinking about how a small heart complication forced you into a 3-week stay at the hospital.
More importantly, you’re thinking about how you racked up a bill totaling ₹4,88,000.
More importantly, you’re thinking about how you racked up a bill totaling ₹4,88,000.
👉Thankfully, your insurance policy is going to take care of the burden. After all, you have a ₹5 Lakh cover. So you don’t have to pay anything right now. But you start thinking about other possibilities.
👉You’re about to buy health insurance. The agent pitches a policy with a cover totaling 5 Lakhs for a bargain price of just ₹7000 a year. But then he sweetens the pot even further.
He promises to cut down the premium by 25% (roughly ₹1800/year) if only you agree to a 20% "co-payment" clause.
You think that’s amazing and you sign off on the agreement. Wow, you just saved ₹1800.
You think that’s amazing and you sign off on the agreement. Wow, you just saved ₹1800.
Your shabby old car can help reduce motor #insurance premiums on your new one by up to 50%!
A thread...
A thread...
You heard that right.
💡This works because of a neat thing known as NCBs or No Claim Bonuses in motor insurance. Think of it as a benefit your insurer gives you for every year you don't make a claim, in the form of a nice reduction on your premiums.
💡This works because of a neat thing known as NCBs or No Claim Bonuses in motor insurance. Think of it as a benefit your insurer gives you for every year you don't make a claim, in the form of a nice reduction on your premiums.
This reward system can save you 20% on your premiums in 1 year to a maximum of 50% in 5 years. However, this is only applicable to the own damage(OD) part of your comprehensive policy.
👉But how will it reduce premiums on my new car?
👉But how will it reduce premiums on my new car?
