Effects on Stakeholders: Blanket Insurance Scheme (MySalam) for Low Bracket Income Owner.

Blanket Insurance Scheme is an insurance scheme, whereby, the insured or government paid a small fee and the insured were allowed to claim back a certain amount if a disaster befalls the insured.

The most common blanket insurance scheme is health insurance for the Low Bracket Income owner.

Lets us see the effects of the insurance scheme for the stakeholder: Government, Insurance Company and the Insured.

1. Government: Reduction in the burden of healthcare on government resources and better collection of healthcare revenue.

2. Insurance Company: A higher number of insured and commitment to Corporate Social Responsibilities.

3. Insured: They will have the opportunity for high-quality healthcare versus blanket universal healthcare in government hospitals.
However, their claims can only commensurate to the insured sum, transforming the insurance scheme into limited universal healthcare for the low bracket income owner. As time pass, the cost of healthcare will be more expensive as inflation set in with new technology, revised doctor fees and maintenance of hospital building, making it impossible for the limited insured sums to be viable for the long term.

4. Health practitioner: More revenue source for hospitals. However, this will encourage unnecessary investigations conducted as part of the health care plan, as profit, will be their main objectives versus necessity.

Bless Day ahead.

Yours truly,

Dr. Lion.

Consumerism: Death of all business sooner or later.

As we are entering the twenties, let us ponder on the concept of consumerism.

What is consumerism?

Consumerism is the consumer purchasing behavior that prefers to buy higher-quality goods at cheaper price as time goes on.

This makes the supplier or private company go bust as it losses its share to another company with a higher quality product at a cheaper price or if the private company is resistant to change like KODAK, NOKIA, and Burberry.

So, in order for a company to survive, they need to be very competitive and need to change with time, practicing KAIZEN or everyday improvement as a start or better if they practice the Principle of Carnibalizing their product life cycle so that the "S curve" of growth can be there.

If we don't cannibalize our own product, the competitor will.

We need a 180-degree marketing shift, in order to be the head of the pack and not the herd mentality of following the pack.

"The only constant changes."

Be Bless As Always,

Dr. Lion.