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THE HOOKED

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  Hook Model What is the Hook Model? The Hook Model is a four-phase process that businesses can use to create products or services used habitually by customers. The goal is to result in voluntary, high-frequency engagement. At its core, the Hook Model is about creating a customer habit. It also seeks to connect a customer’s problem to a company’s solution with enough frequency to make the engagement an ongoing practice. What is the History of the Hook Model? Entrepreneur, author, and behavioral economist Nir Eyal developed the  Hook Model methodology.  His approach to product development is based on the creation of habitual behaviors via a looping cycle that consists of a trigger, an action, a variable reward, and ongoing investment. Why is the Hook Model Important? It’s important to understand what drives customer behavior in order to build products that customers use habitually. With this knowledge, you can then create a significant competitive advantage for businesses....
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Life Insurance policy Terms definition

Lapsed Policy:- LIC insurance policy is considered ‘lapsed’ if the premium is not paid within the grace period, which is 30 days in case of annual, half-yearly and quarterly renewals and 15 days for monthly renewals. a LIC policy will acquire it's surrender value  i ) if Date of Commencement is on or before 31st December 2020 and 3 full years premium is paid, then the policy will acquire it's surrender value. ii) if Date of Commencement is on or after 1st January 2021 and 2 full years premium is paid, then the policy will acquire it's surrender value.
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