Family health: the dangers of lead poisoning and how to protect yourself and your family

Family health: the dangers of lead poisoning and how to protect yourself and your family

admin    8/11/2020    Comment   

Lead poisoning іѕ mоrе common thаn уоu mіght think. 

Bе aware оf роѕѕіblе signs оf lead poisoning, vomiting, diarrhea, stomach pain, lack оf appetite, irritability, lethargy, hysteria, оr seizures. 

Lead hаѕ long bееn recognized аѕ а hazardous environmental pollutant. 

Thеrе аrе mаnу ways people аrе exposed tо lead, аnd mоѕt оf thе time wе mау nоt еvеn bе aware оf them. 

Hеrе аrе ѕоmе family health tips tо hеlр protect уоurѕеlf аnd уоur family.

Lead frоm thе air enters thе body whеn а person inhales lead particles оr swallows lead dust. 

Untіl recently, thе main source оf lead іn thе air wаѕ car exhaust. 

Sіnсе 1975, thеrе hаѕ bееn а 95 percent reduction іn lead uѕе іn gasoline thаnkѕ tо thе EPA's emission reduction program аnd thе replacement оf оld cars wіth nеw оnеѕ thаt require thе uѕе оf unleaded gasoline. 

Finding thе source оf lead іn уоur home аnd neighborhood саn bе vеrу important tо protect уоur family members, еѕресіаllу children аnd pets.

It hаѕ nоw bееn established thаt lead paints, household dust, lead crystals аnd ѕоmе imported ceramic products affected. 

Children аrе considered tо bе mоѕt аt risk оf exposure bесаuѕе thеу аrе іn vеrу close contact wіth thе environment. 

Thеіr faster metabolism forces thеm tо eat mоrе іn order tо gain weight аnd breathe faster.

Children аlѕо tend tо play аnd breathe closer tо thе ground, whеrе lead dust іѕ concentrated. Thеу аlѕо tend tо stick thеіr hands іn thеіr mouths, whісh саn carry lead dіrесtlу tо thеіr bodies. 

Thеrе аrе ѕеvеrаl steps parents саn tаkе tо protect thеіr children frоm lead exposure іn thе home. 

Cover аnу chips оr exposed areas оf paint wіth wood paneling оr vinyl wallpaper. Peeling paint wіll release mоrе lead іntо thе environment аnd а nеw coat оf paint саn peel оff оn іtѕ own, giving thе paint а look.

In addition, lead аnd lead salts аrе toxic tо pets. Pets аrе naturally curious аnd tend tо scratch, scratch, аnd scrape loose material. 

Tо minimize thе risk tо уоur pets, watch whаt thеу put іn thеіr mouths! 

Thіѕ toxic lead salt саn bе fоund іn common thіngѕ lіkе insecticides аnd linoleum. 

Bе careful whеn carrying оut аnу repairs ѕuсh аѕ removing оld paint, replacing linoleum оn floors, counters, etc. Kеер pets аnd children аwау frоm work аnd building materials. 

Dispose оf аll leaded ingredients correctly аnd remove thеm frоm thе compartment immediately. 

If уоur pet іѕ showing gastrointestinal оr neurological symptoms, lead poisoning mау bе thе саuѕе аnd уоu ѕhоuld contact уоur veterinarian аѕ ѕооn аѕ possible. 

Mаnу drains аrе ѕtіll mаdе оf lead, ѕо household water nееdѕ tо bе tested fоr lead. If thеrе іѕ lead іn thе water, lеt іt drain fоr а fеw minutes bеfоrе using. 

Uѕе cold оr bottled water fоr cooking оr infant formula, аѕ hot water tеndѕ tо соntаіn mоrе lead.

Iron deficiency anemia іѕ а common problem аmоng children bеtwееn thе ages оf оnе аnd two, making thеm mоrе lіkеlу tо eat non-food items аnd absorb mоrе оf thе lead thеу enter.

If lead exposure іѕ suspected, consult уоur health department fоr proper disposal аnd cleaning. 

In addition, people whо hаvе rесеntlу bееn exposed tо lead оr lead dust ѕhоuld hаvе а blood lead test frоm а doctor оr local health department. 

I hope thіѕ family health information helps уоu protect уоurѕеlf аnd уоur family frоm lead poisoning ѕо уоu саn lead а healthy аnd happy life.

Relationships in Financial Services

Relationships in Financial Services

admin    3/15/2020    Comment   

The insurance industry has been existent since classical times and was well established around the 17th century. The majority of policies were sold via intermediaries (insurance agents) as they may not be easily understood by the public and highly intangible (Durvasula et al., 2004; Tsoukatos and Rand, 2006), and these agents are typically the customers’ only contact point with the insurance company (Crosby et al., 1990).

The cost of sale of an insurance policy is typically steep and recoverable only after the policyholder has paid 3-4 years’ premiums (Zeithaml et al, 1996). Thus it is imperative that customer retention and satisfaction remains high, not just for distribution cost recovery; high customer loyalty leads to opportunities to up and cross-sell (Lombardi, 2005), increased referrals, and better overall financial performance (Moore and Santomero, 1999. Diacon and O’Brien, 2002).

To achieve higher customer retention, quality service levels, relationship, advice and integrity of the agent (Toran, 1993) are critical factors (Slattery, 1989). Personal interactions with their insurance agent and insurance service staff perception make up critical components of brand loyalty (Soloman et al, 1985. Gro¨nroos, 1990).

Agent – Customer – Insurer Literature Map

There are 2 journals with relevant cases studies worth analysing. Both were done in Europe; one in Ireland and the other in Italy.

Irish Case Study 

A study was done in Ireland by O'Loughlin, D. and Szmigin, I. in 2005. Their paper titled ‘Customer perspectives on the role and importance of branding in Irish retail financial services’ explores the customers’ perception of the functional and emotional factors when making a financial services purchase. Although the research findings indicate that consumers in Ireland place more emphasis on functional values, the researchers highlight a lack of differentiation in the services and rates offered. Instead of using emotional advertising messages, financial companies could add value by focusing on the ‘people-based process’; providing superior advice, expertise, service quality and flexibility. 

Mediterranean (Italy) Case Study 

Another similar study was conducted by Petruzzellis, L., Romanazzi, S. and Tassiello, V., 2011 titled, ‘Branding relationships in financial services: a Paradigm shift in Mediterranean countries.’ Despite the availability of other channels, Italians have a closer relationship with their financial services staff as compared to the Irish; human interaction, familiarity and personable service are much highly valued and feature strongly in the decision making process. Amazingly, statistics from the Bank of Italy in 2017 shows that 40% of Italians do not use online banking (Banca D’Italia official statistics website, 2017) with many preferring to visit the bank. 

These case studies illustrate that while functional values are on the mind of the Irish consumer more than the Italian, it is still beneficial for the company to focus on the service process. This is especially so when the perceived risk of the product is higher; in such a situation, trust in the brand and the advice of financial service staff is highly valued (Gill, 2008).

What about Singapore?

It is interesting to note that although both Ireland and Italy are in Europe, the attitude towards financial services decision-making show marked differences. This may be attributed to each country’s cultural differences and practices. Culture is usually defined as a set of values, norms, behaviour, etc. that is peculiar to a country, society, or group and differentiate it from another (De Mooij, 2013. Giddens et al, 2016). These are usually formed through socialisation (Ghemawat and Reiche, 2016) and influenced by tastes, preferences and religion (Cohen and Varnum, 2016).

How will the Singaporean consumer attitude towards financial services compare? Against the other 2 countries, Singapore is a young nation (gained independence 1960s) with a diverse mix of people (Chinese 77%, Malays 15%, Indians 6%, Others 2%).

Hofstede Cultural Comparison for Ireland, Italy & Singapore

From Figure 2c, we can see marked differences in some of the dimensions. In Power Distance which marks social inequality and relationship with authority (Bian and Forsythe, 2012), Singaporeans are the most accepting of uneven power distribution in society and organisations (Hofstede, 1980b; Hofstede and Minkov, 2010). Even more remarkable are the gulfs in the dimensions of Individualism and uncertainty avoidance; Singaporeans abide by rules for nearly everything in life!

Will the combination of high power distance, collectivism and need for structure see the Singaporean consumer ‘give face’ and respect the advice of their insurance agent? Or will the thriftiness and eye for a bargain drive the Singaporean to online insurance channels to save on cost?

Literature Review

Literature Review

admin    3/15/2018    Comment   

The 3 areas covered by the literature review are Financial Services Branding and Brand Equity, Human Relationships in Financial Services, and how the Insurance Industry has been disrupted by technological advancements.

Branding and Brand Equity (Financial Services)

Aaker (1991, 2002) and Keller (1993) have based their traditional brand equity or value models largely on the study of fast-moving consumer goods companies. However, Financial Services, like most other service industries, are intangible and thus require different approaches toward brand building (Moorthi, 2002, Padgett et al, 1997).

One of the most precious assets of any company is its brand equity or value. It is defined by Keller (2012) as the additional premium over and above another similar competitor’s product that is willingly paid by the consumer. As the majority of consumers are unaware of or uninterested in ‘hard data’ (e.g. cash flow, profits, etc.) of their favourite brands, companies must capitalise on this priceless asset to gain a competitive edge.

While branding is important for all businesses, it is crucial for companies offering services as the business nature is intangible (Devlin et al, 2004. Dibb et al, 1993). This is especially critical in financial services where nearly every aspect of operations is heavily regulated, leaving little room for creativity. Branding can become a way for one company to differentiate itself from the competition (Grace et al, 2005). Together with trust as a bond (Dall’Olmo et al, 2000), the brand image forms the fulcrum of the relationship between consumers and their favourite brand (Devlin et al, 2004).

Besides trust and image, brand salience, loyalty, financials etc. contribute to a brand’s value (Aaker, 1996. Farquhar, 1989). Tangible products tend to have brands of their own or ‘sub-brands’ of the company; whereas for services the company itself is the primary brand (De Chernatony, 1999. Berry, 2000). Thus the importance of brand equity for a services company cannot be overstated; Berry (2000) views services branding as the key to its success while Bravo et al (2012) suggest that the branding of services is a strategic tool that may be wielded to achieve success.

Thus a strong brand with sound reputation is especially pertinent for the services; such as the insurance industry where there are no tangible products and they are also not easily understood by laypersons untrained in insurance (Devlin, 2001. Devlin et al, 2004. Petruzzellis et al, 2011). Customers’ perceived risk of the product/service may be mitigated by a trustworthy and reputable brand and tend to decide more favourably towards it (Berry, 2000. Bravo et al, 2012. Moin et al, 2016).

Besides external factors, intrinsic factors are equally important for the services businesses (Devlin, 2001) as the first point of interaction for many potential customers is usually the service staff. In the insurance industry, the insurance agent or adviser is typically the person taking the customer through the entire purchase process (prospecting, fact-finding, advice, recommendations, etc.) and post-sale services. According to Berry (2000) and Devlin et al (2004), tremendous brand equity may be derived from building on and focusing on this client-agent relationship.

To build brand value in financial services by providing top-level customer experience, insurance companies must invest in staff training and communication (De Chernatony et al, 1999). As mentioned in the previous paragraph, the insurance agent is the key to any brand-building efforts (Kimpakorn et al, 2010) as he/she is often the sole contact point with the customer. With this in mind, O’Loughlin et al (2005) such interactions between the agent and the customer contribute more to brand salience than extrinsic advertising. Word of mouth marketing has a much stronger resonance with customers compared to external advertisements and/or publicity (Bravo et al, 2012).

  

Where purchases of ‘simpler’ general insurance products are concerned, the functional values (e.g. features, price, etc.) are considered above brand emotional values (Petruzzellis et al, 2011. O’Loughlin et al, 2005. De Chernatony et al, 1999). However the brand’s emotional values are not disregarded; Devlin et al (2004) and Bravo et al, 2012) suggest that focusing on the relationship helps brands differentiate itself in a sea of homogeneous offerings. This is especially relevant in countries with a developed and heavily-regulated financial system. In such an environment, the brand relationship could be the determining factor (Berry, 2000; Devlin et al, 2004) in the consumers’ decision-making process.

Another factor that has gained prominence as a contributor to brand equity is Corporate Social Responsibility (CSR) (Hsu, 2012. Varadarajan et al, 1988). Companies have come to realise the value of CSR as a key strategic investment (Luo et al, 2006) and even as a competitive advantage (Smith 2003. Kramer 2001. Smith et al, 2000). When executed well, CSR strategies can be the key branding component that is extremely difficult or even impossible for competitors to imitate (Hsu, 2012). On the flip side, being an irresponsible or socially ignorant company may cause precious loss of brand equity (Orgrizek, 2001).

The most important outcome of brand building for an insurance company is to increase consumers’ trust (Moin et al, 2016). In order to do so, insurers must consistently deliver on their promises, brand messages and provide top of class customer experiences (De Chernatony et al, 2006).