Tuesday, July 06, 2010
FAQ - Benefit Illustration
This document explains what you have to look out for in a benefit illustration before you buy a life insurance policy.
Monday, July 05, 2010
FAQ - Term Insurance
Here is an updated guide on how to buy Term Insurance in Singapore.
http://www.easysearch.sg/Admin/File.aspx?id=56
http://www.easysearch.sg/Admin/File.aspx?id=56
Quiz 6-3
Try this Quiz and win a prize. Please send your answer by SMS to the number indicated. Do not post the answer here. Allow other readers to try their solution.
WINNER OF QUIZ 6-2
Congratulations to the winner, Ong Kok Hien (Sxxxx120J, Mobile: xxxx4151). Please send an e-mail to kinlian@gmail.com with your address for the Tangram book prize to be mailed to you. The correct answer is "Albert".
WINNER OF QUIZ 6-2
Congratulations to the winner, Ong Kok Hien (Sxxxx120J, Mobile: xxxx4151). Please send an e-mail to kinlian@gmail.com with your address for the Tangram book prize to be mailed to you. The correct answer is "Albert".
Taxi Automated Booking System (TABS) - Simulation [2]
I have developed a taxi automated booking system (TABS). It is now being runned in simulation mode. A taxi company is likely to use this system with a fleet of 600 taxis. The simulation will reflect the real life situation quite closely. The booking fee is cheaper than the normal booking service.
A customer who wish to book a taxi will send a SMS to the server. You can try this service by sending a SMS as follows:
- Starhub mobile: Send "CAB " to 82028866
- M1 and Singtel Mobile: Send "CAB pppppp " to 82028866
Note: pppppp is the postal code of your location (not required for Starhub customers).
If a taxi is available within 2 km of your location, you will receive a SMS to call the mobile phone of the taxi driver. If no taxi is available, a SMS will be sent to you, saying that you have been placed in the taxi queue.
Please join this trial. During the simulation run, you will get a simulated mobile phone number (i.e. not a real number) of the taxi.
FEEDBACK FROM USERS
Hi Mr Tan
If the passenger accidentaly left his/her valuables in the taxi, who do we call?
Reply: You can call the taxi driver as you already have his mobile phone number! You can also call the taxi compnay but it is likely to take a much longer time.
Reply: This is great! No more figuring out who is the driver of the taxi which you left the valuables in. If you lost something you can contact the taxi driver immediately.. unless you lost your handphone.
Mr TKL
I tried it. It is quite fast. When will this service start? I like to try it for real!
Reply: Tentatively, it will start from 1 August with 300 real taxis (i.e. not a simulation).
Mr Tan,
Its a great system. I have one concern though.
I may not know the postal code of the location that I am in.
If I am at Lim Chu Kang near the Police Academy, I would not know the postal code.
I am along River valley road near Delta Sports Complex.. I do not know the postal code.
Hope there is a solution to this.
Otherwise I have to ask people or remember postal codes.. other people may not give reliable information. How about bus stop numbers?
Reply: You can ask someone to tell you the postal code of the place that you are at. If they live or work there, they can tell you. It is also on their businss card.
If you have a Starhub mobilephone, you do not need to send the postal code. I am now working with M1 to offer this same facility to their customers. I am also willing to work with Singtel, if they are interseted.
Later, I will work with the apps provider to allow a request to be sent by a smart phone with GPS factility. There is no need to send the postal code.
Your suggestion of bus stop number is Excellent. I will build it into the TABS system.
Hi..
Just tried it a while ago. The SMS reply is very fast, within 30 seconds. Impressive ! It will definitely save us a lots of time comparing present way of booking via telephone. Why can't the rest of us think of this cheap, better and faster way ....
Hi
Great idea! If the taxi drivers can register directly with your company, it will bypass the booking systems of the various taxi companies, thereby lower booking fees, it has a potential good business model.
Jimmy Ng said...
Nice idea and hopefully that we don't have to face those rediculous taxi surcharges for using this sytem.
In HK, were it is a lot more crowded and has a lower taxis per capita, I get a 15-20% for calling taxi. Only thing to this is that the fare has to be above HK$50 / S$8.
Hi
I have tried it, its fantastic.
A customer who wish to book a taxi will send a SMS to the server. You can try this service by sending a SMS as follows:
- Starhub mobile: Send "CAB " to 82028866
- M1 and Singtel Mobile: Send "CAB pppppp " to 82028866
Note: pppppp is the postal code of your location (not required for Starhub customers).
If a taxi is available within 2 km of your location, you will receive a SMS to call the mobile phone of the taxi driver. If no taxi is available, a SMS will be sent to you, saying that you have been placed in the taxi queue.
Please join this trial. During the simulation run, you will get a simulated mobile phone number (i.e. not a real number) of the taxi.
FEEDBACK FROM USERS
Hi Mr Tan
If the passenger accidentaly left his/her valuables in the taxi, who do we call?
Reply: You can call the taxi driver as you already have his mobile phone number! You can also call the taxi compnay but it is likely to take a much longer time.
Reply: This is great! No more figuring out who is the driver of the taxi which you left the valuables in. If you lost something you can contact the taxi driver immediately.. unless you lost your handphone.
Mr TKL
I tried it. It is quite fast. When will this service start? I like to try it for real!
Reply: Tentatively, it will start from 1 August with 300 real taxis (i.e. not a simulation).
Mr Tan,
Its a great system. I have one concern though.
I may not know the postal code of the location that I am in.
If I am at Lim Chu Kang near the Police Academy, I would not know the postal code.
I am along River valley road near Delta Sports Complex.. I do not know the postal code.
Hope there is a solution to this.
Otherwise I have to ask people or remember postal codes.. other people may not give reliable information. How about bus stop numbers?
Reply: You can ask someone to tell you the postal code of the place that you are at. If they live or work there, they can tell you. It is also on their businss card.
If you have a Starhub mobilephone, you do not need to send the postal code. I am now working with M1 to offer this same facility to their customers. I am also willing to work with Singtel, if they are interseted.
Later, I will work with the apps provider to allow a request to be sent by a smart phone with GPS factility. There is no need to send the postal code.
Your suggestion of bus stop number is Excellent. I will build it into the TABS system.
Hi..
Just tried it a while ago. The SMS reply is very fast, within 30 seconds. Impressive ! It will definitely save us a lots of time comparing present way of booking via telephone. Why can't the rest of us think of this cheap, better and faster way ....
Hi
Great idea! If the taxi drivers can register directly with your company, it will bypass the booking systems of the various taxi companies, thereby lower booking fees, it has a potential good business model.
Jimmy Ng said...
Nice idea and hopefully that we don't have to face those rediculous taxi surcharges for using this sytem.
In HK, were it is a lot more crowded and has a lower taxis per capita, I get a 15-20% for calling taxi. Only thing to this is that the fare has to be above HK$50 / S$8.
Hi
I have tried it, its fantastic.
Pays of CEOs
Hi Mr. Tan,
Here's an article from BusinessWeek that you might be interested in:
http://www.businessweek.com/magazine/content/10_28/b4186014341924.htm
It speaks about the salary disparity between CEOs in Japan vs. other developed countries.
JD
Hi Mr. Tan,
What is weird about this statistic is that Japan is known to have relatively high entry and mid-level salaries. If they have a much lower high-end salaries, it means that the ratio of lowest-to-highest salary will be very low. Of course, there are many other factors to consider (low supply of manpower, high cost of living, etc.) but they apply both ways.
JD
Here's an article from BusinessWeek that you might be interested in:
http://www.businessweek.com/magazine/content/10_28/b4186014341924.htm
It speaks about the salary disparity between CEOs in Japan vs. other developed countries.
JD
Hi Mr. Tan,
What is weird about this statistic is that Japan is known to have relatively high entry and mid-level salaries. If they have a much lower high-end salaries, it means that the ratio of lowest-to-highest salary will be very low. Of course, there are many other factors to consider (low supply of manpower, high cost of living, etc.) but they apply both ways.
JD
Sunday, July 04, 2010
Space in MRT trains
Hi Mr. Tan
Recently there is a debate going on whether the SMRT trains in Singapore are overly crowded or not. The SMRT doesn't think very much of it as evidenced in their CEO's untactful remarks, whilst practically everyone blogging on the internet curse and swear at how bad the situation had become.
Looking at the case again, I just discovered that everything hinges on a statistic which is provided by SMRT Quote:...This averages 3.8 passengers per sq m, lower than that of major cities like London..... Unquote.
So 3.8 passengere per sq m is the agreed benchmark. I have no problem with that. But look at the word AVERAGE. Therein lies the solution to the puzzle. It's not about the number 3.8 neither is it about the techie word crushload. It's about AVERAGE.
AVERAGE is a very dangerous concept if not properly managed. If the annual salary of the PM is $3 million and the annual salary of the rest of the 9 ordinary workers in the PMO (PrimeMinister's Office) is $50,000 then mathematically the average annual salary of the people in the PMO is $305,000 per person? In statistical theory there are median, and mode, standard deviation, etc to refine the imperfect concept of averaging. In the real world, we also need to know more about the model used for "averaging".
How does SMRT calculate its AVERAGE crush load? Is it over time average between peak period and non peak period per station basis? How many stations are selected? Which are the stations selected for the averaging? Are newer stations which have lower load factor bundled together for averaging?
Statistics is a powerful tool which can often lead to wrong conclusions. Sometimes it is so powerful that it can be used as a tool to make one feel complacent and look good. And those who ignore the possibly distorted conclusions might be told to make other choices because the sysem is just doing fine - on "average".
rex
Recently there is a debate going on whether the SMRT trains in Singapore are overly crowded or not. The SMRT doesn't think very much of it as evidenced in their CEO's untactful remarks, whilst practically everyone blogging on the internet curse and swear at how bad the situation had become.
Looking at the case again, I just discovered that everything hinges on a statistic which is provided by SMRT Quote:...This averages 3.8 passengers per sq m, lower than that of major cities like London..... Unquote.
So 3.8 passengere per sq m is the agreed benchmark. I have no problem with that. But look at the word AVERAGE. Therein lies the solution to the puzzle. It's not about the number 3.8 neither is it about the techie word crushload. It's about AVERAGE.
AVERAGE is a very dangerous concept if not properly managed. If the annual salary of the PM is $3 million and the annual salary of the rest of the 9 ordinary workers in the PMO (PrimeMinister's Office) is $50,000 then mathematically the average annual salary of the people in the PMO is $305,000 per person? In statistical theory there are median, and mode, standard deviation, etc to refine the imperfect concept of averaging. In the real world, we also need to know more about the model used for "averaging".
How does SMRT calculate its AVERAGE crush load? Is it over time average between peak period and non peak period per station basis? How many stations are selected? Which are the stations selected for the averaging? Are newer stations which have lower load factor bundled together for averaging?
Statistics is a powerful tool which can often lead to wrong conclusions. Sometimes it is so powerful that it can be used as a tool to make one feel complacent and look good. And those who ignore the possibly distorted conclusions might be told to make other choices because the sysem is just doing fine - on "average".
rex
Taxi Automated Booking System (TABS) - Simulation
I have developed a taxi automated booking system (TABS). It is now being runned in simulation mode. A taxi company is likely to use this system with a fleet of 600 taxis. The simulation will reflect the real life situation quite closely. The booking fee is cheaper than the normal booking service.
A customer who wish to book a taxi will send a SMS to the server. You can try this service by sending a SMS as follows:
- Starhub mobile: Send "CAB " to 82028866
- M1 and Singtel Mobile: Send "CAB pppppp " to 82028866
Note: pppppp is the postal code of your location (not required for Starhub customers).
If a taxi is available within 2 km of your location, you will receive a SMS to call the mobile phone of the taxi driver. If no taxi is available, a SMS will be sent to you, saying that you have been placed in the taxi queue.
Please join this trial. During the simulation run, you will get a simulated mobile phone number (i.e. not a real number) of the taxi.
PRIZE: I will be giving a Tangram book to one person, picked at random, from those who participated in the trial for each of the next three days. Good luck.
Tan Kin Lian
A customer who wish to book a taxi will send a SMS to the server. You can try this service by sending a SMS as follows:
- Starhub mobile: Send "CAB " to 82028866
- M1 and Singtel Mobile: Send "CAB pppppp " to 82028866
Note: pppppp is the postal code of your location (not required for Starhub customers).
If a taxi is available within 2 km of your location, you will receive a SMS to call the mobile phone of the taxi driver. If no taxi is available, a SMS will be sent to you, saying that you have been placed in the taxi queue.
Please join this trial. During the simulation run, you will get a simulated mobile phone number (i.e. not a real number) of the taxi.
PRIZE: I will be giving a Tangram book to one person, picked at random, from those who participated in the trial for each of the next three days. Good luck.
Tan Kin Lian
Invest in STI ETF
Dear Mr Tan,
I have read through some of the articles on your blog and am very impressed by your investment knowledge. I heard from my Income agent that you are very experienced with investment and gives excellent advice.
I have a savings account with Standard Chartered and would like to start investing in unit trust. From your experience, what is the difference between investing through the bank or through those brokerage firm like Phillips Securities?
Many people told me to invest in STI ETF, is it unit trust and is it a good time to invest now? How about REITS? Are these unit trusts?
Josephine
REPLY
STI ETF is for long term investment. If you invest your monthly savings, anytime is a good time. Do not try to time the market. If it better to buy through a stockbroker, rather than a bank. Philips Securities is okay. It is also all right to invest in unit trust, provided that the expense ratio is less than 1%.
Do not invest in an insurance policy as the "effect of deduction" is too high, giving you a poor return. Read my book, Practical Guide on Financial Plannng, available at www.easysearch.sg/ishop.
I have read through some of the articles on your blog and am very impressed by your investment knowledge. I heard from my Income agent that you are very experienced with investment and gives excellent advice.
I have a savings account with Standard Chartered and would like to start investing in unit trust. From your experience, what is the difference between investing through the bank or through those brokerage firm like Phillips Securities?
Many people told me to invest in STI ETF, is it unit trust and is it a good time to invest now? How about REITS? Are these unit trusts?
Josephine
REPLY
STI ETF is for long term investment. If you invest your monthly savings, anytime is a good time. Do not try to time the market. If it better to buy through a stockbroker, rather than a bank. Philips Securities is okay. It is also all right to invest in unit trust, provided that the expense ratio is less than 1%.
Do not invest in an insurance policy as the "effect of deduction" is too high, giving you a poor return. Read my book, Practical Guide on Financial Plannng, available at www.easysearch.sg/ishop.
Talks on Financial Planning to Students
Calling teachers or student leaders. If you wish to organise a talk on financial planning for the students, read this brochure. It can make a lot of difference to the future financial well-being of the students.
Holland vs Germany
I watched my first live World Cup match over television in 1974. It was the Finals between Holland and Germany. The star on the Holland team was Johan Cruff. Holland scored the first goal within 2 minutes. Germany was led by the legendary Franz Beckenbauer and won the Finals on 2-1.
Here is an exciting recount of this historic final. http://easyweb.easynet.co.uk/~goldkeep/Holland74/WGermany.htm
I expect to see these two teams play at the Finals of the World Cup 2010. If anyone takes and win this bet, make a donation to FISCA (http://www.fisca.sg/)
Tan Kin Lian
Here is an exciting recount of this historic final. http://easyweb.easynet.co.uk/~goldkeep/Holland74/WGermany.htm
I expect to see these two teams play at the Finals of the World Cup 2010. If anyone takes and win this bet, make a donation to FISCA (http://www.fisca.sg/)
Tan Kin Lian
Developing our own talents
In 1998, France won the World Cup. The team comprised of many players from the former French colonies in Africa.
This event prompted Singapore's Prime Minister Goh Chok Tong to raise the possibility of Singapore entering the World Cup using "foreign talents". The Football Association of Singapore took up the challenge and set the target of Goal 2010 for Singapore to win the World Cup (but thge goal was later clarified as participation in the Finals). This goal was subsequently dropped as the task was deemed to be impossible.
During this period, Germany went about in its own way to develop its youth squad and soccer training program. The result can be seen in the spectacular performance of the Germany team, the product of its youth development program, in World Cup 2010.
We can contrast the approach taken by the two countries. One decided to rely on "foreign talents". The other decided to train and develop its own people.
This is a lesson for Singapore.
Tan Kin Lian
This event prompted Singapore's Prime Minister Goh Chok Tong to raise the possibility of Singapore entering the World Cup using "foreign talents". The Football Association of Singapore took up the challenge and set the target of Goal 2010 for Singapore to win the World Cup (but thge goal was later clarified as participation in the Finals). This goal was subsequently dropped as the task was deemed to be impossible.
During this period, Germany went about in its own way to develop its youth squad and soccer training program. The result can be seen in the spectacular performance of the Germany team, the product of its youth development program, in World Cup 2010.
We can contrast the approach taken by the two countries. One decided to rely on "foreign talents". The other decided to train and develop its own people.
This is a lesson for Singapore.
Tan Kin Lian
World Cup and Management Science
Mr Tan Kin Lian.
It was an amazing game that Germany managed to beat Argentina 4 to 0. World Cup is really fascinating. However, World Cup also teaches us lessons in management. Germany has displayed discipline and teamwork in the game against Argentina.
While mega stars provide the excitement, results are delivered by discipline and teamwork.
Lothar Matthaus made an interesting comment that Michael Ballack’s absence was a blessing in disguise! He said “ …. I’m genuinely upset for Michael Ballack (injury) but his absence has helped Germany. I don’t mean that in a spiteful way, but Ballack was arguably holding up a number of players who have now blossomed. Each of them has taken on a little more responsibility and Germany is playing with far more pace. Ballack often took a lot of pace out of the game, but that wouldn’t fit the mentality of this young team. Missing out is a personal catastrophe for Michael, but it has benefited Germany.”
By the way, Germany has one of the younger squad. Lothar Matthaus made an interesting management statement that teamwork is more important than individual stars and fresh legs are what it takes to win tournament.
Cashew Nut
http://www.telegraph.co.uk/sport/football/world-cup-2010/teams/germany/7868860/Argentina-v-Germany-Lothar-Matthaus-says-Germany-are-better-without-Michael-Ballack.html
My observation
I have come comments to make about Singapore's own Goal 2010. See separate blog.
It was an amazing game that Germany managed to beat Argentina 4 to 0. World Cup is really fascinating. However, World Cup also teaches us lessons in management. Germany has displayed discipline and teamwork in the game against Argentina.
While mega stars provide the excitement, results are delivered by discipline and teamwork.
Lothar Matthaus made an interesting comment that Michael Ballack’s absence was a blessing in disguise! He said “ …. I’m genuinely upset for Michael Ballack (injury) but his absence has helped Germany. I don’t mean that in a spiteful way, but Ballack was arguably holding up a number of players who have now blossomed. Each of them has taken on a little more responsibility and Germany is playing with far more pace. Ballack often took a lot of pace out of the game, but that wouldn’t fit the mentality of this young team. Missing out is a personal catastrophe for Michael, but it has benefited Germany.”
By the way, Germany has one of the younger squad. Lothar Matthaus made an interesting management statement that teamwork is more important than individual stars and fresh legs are what it takes to win tournament.
Cashew Nut
http://www.telegraph.co.uk/sport/football/world-cup-2010/teams/germany/7868860/Argentina-v-Germany-Lothar-Matthaus-says-Germany-are-better-without-Michael-Ballack.html
My observation
I have come comments to make about Singapore's own Goal 2010. See separate blog.
Business simulation game (BEST)
The BEST simulation game gives you the practice to submit a business plan on the pricing and market of four products in a competitive environment. The game is played over 7 days and allows you to submit your business plan for one year daily. The actual time required to be spent is 15 to 30 minutes. You can read more about how to play this game by downloading this Player Guide.
The game can be played for various types of business, e.g. insurance, banking, hotel, airline, manufacturing, retail.
If you are interested to play the game, give your particulars here. I will create a game when there is sufficient players for the industry.
If you have played before, and wish to create a game for several of our friends, send an e-mail to kinlian@gmail.com and give the e-mail address of all the players. Indicate the type of industry that you wish to compete in.
Update:
One insurance company is actively using the game to train its head office and branch managers.
A participant who register through my blog likes the game and wishes to introduce his friends to play the game. I will create a game for his group.
My friend, who is studying in university in UK is organising a game for his classmates.
The game can be played for various types of business, e.g. insurance, banking, hotel, airline, manufacturing, retail.
If you are interested to play the game, give your particulars here. I will create a game when there is sufficient players for the industry.
If you have played before, and wish to create a game for several of our friends, send an e-mail to kinlian@gmail.com and give the e-mail address of all the players. Indicate the type of industry that you wish to compete in.
Update:
One insurance company is actively using the game to train its head office and branch managers.
A participant who register through my blog likes the game and wishes to introduce his friends to play the game. I will create a game for his group.
My friend, who is studying in university in UK is organising a game for his classmates.
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