Choosing a good insurance company is not easy. Moreover, amid intense competition among insurers as it is today.
Many insurance companies claim they are the best. It can be seen that there is an insurance product offered to the public through advertisements, almost none the less. Similarly, the performance they do, always accentuate the fine. Somewhat rarely express insurance company management weaknesses that they have experienced.
However, there are several factors that should be considered in the process of choosing a particular insurance company for life insurance and loss.
Many insurance companies claim they are the best. It can be seen that there is an insurance product offered to the public through advertisements, almost none the less. Similarly, the performance they do, always accentuate the fine. Somewhat rarely express insurance company management weaknesses that they have experienced.
However, there are several factors that should be considered in the process of choosing a particular insurance company for life insurance and loss.
The thing to remember in choosing a private insurance company, then that should be considered in general are three factors: First, the financial strength (security). Second, the service (service). And third, the cost.
Financial strength of insurance related to the company's financial ability to fulfill its promise if the situation requires. It is important to know, because not a few insurance companies are looking at the flashy exterior. For example storey building, a vehicle that good directors. But when there claims from customers, the company can not pay.
In assessing the financial strength of these there are several benchmarks that need attention.
Financial strength of insurance related to the company's financial ability to fulfill its promise if the situation requires. It is important to know, because not a few insurance companies are looking at the flashy exterior. For example storey building, a vehicle that good directors. But when there claims from customers, the company can not pay.
In assessing the financial strength of these there are several benchmarks that need attention.
- Assets and liabilities. This can be seen from the financial balance sheet is published in the newspaper. See also, whether the investment is planted in the current or longterm. In terms of liability (the ability to pay off liabilities) will look at the balance sheet, how the debts to the reinsurer, how he fulfilled his obligation to pay claims, and so forth.
Indicators liabilities include net equity (own capital) divided by net premiums (net premiums) of at least 50%. Own capital divided by gross premiums (gross premiums) of at least 20%. Limit the level of solvency, which looks from its own capital divided by net premiums of at least 10% and investment fund technical reserves divided by a minimum of 100%.
- Underwriting Policy. On the balance sheet and annual report will be seen that the insurance is still a profit, or profit growth. This means underwiting polcy was good.
- Underwriters her. Insurance has personnel qualified or not. It is known from the profile companies that includes the underwriters him
Services (service) is the extent to which mirror human resources at the company's qualified or not. Moreover, insurance companies are selling a service, so excellent service is the key. For example, the extent to which the speed of service in both the policy issue especially in the payment of compensation or claim. In addition, about the service can actually be felt by the customer. Is this insurance company was absolutely the best service for its customers.
In this connection it should also be questioned whether this mereasuransikan insurance company in reinsurance-class safety. This can be seen from the annual report. It is important to note, because if the company is not in - backed up by reinsurance, the company is likely to be speculative in receiving the premiums.
The issue is how much the costs incurred by insurance companies in operation. If greater than the cost of income, then obviously the company is inefficient. If it's not efficient, it will end up losing money. And if you continually lose, definitely not healthy.
In this connection it should also be questioned whether this mereasuransikan insurance company in reinsurance-class safety. This can be seen from the annual report. It is important to note, because if the company is not in - backed up by reinsurance, the company is likely to be speculative in receiving the premiums.
The issue is how much the costs incurred by insurance companies in operation. If greater than the cost of income, then obviously the company is inefficient. If it's not efficient, it will end up losing money. And if you continually lose, definitely not healthy.
In this connection, could also see the price premiums. Compare the price of insurance premiums with other insurance. Where the quality is really good.
Today the government has set a benchmark of health insurance (not only) is through mekanime RBC (risk capital base). If RBC number was large, this means the company is valued in good condition. But we should not be fixated solely with RBC numbers. Therefore, it could also be a large company that is doing great expansion like to open many branches, then his RBC numbers would be small.
Conversely, there is a small insurance company but never to expand, the RBC number was probably much greater.
Today the government has set a benchmark of health insurance (not only) is through mekanime RBC (risk capital base). If RBC number was large, this means the company is valued in good condition. But we should not be fixated solely with RBC numbers. Therefore, it could also be a large company that is doing great expansion like to open many branches, then his RBC numbers would be small.
Conversely, there is a small insurance company but never to expand, the RBC number was probably much greater.
Thus, RBC numbers can not be used as the sole measure of whether the insurance company is healthy or not.
In this case, also noteworthy is the company's performance in the last two or three years. How big profits every year, how much gross premiums they receive each year, how much additional capital and assets every year.
And last but not least is how the company's management behavior during this time. Is there a management company for this broken promise? Has this company experienced management defaults, and so forth.
In this case, also noteworthy is the company's performance in the last two or three years. How big profits every year, how much gross premiums they receive each year, how much additional capital and assets every year.
And last but not least is how the company's management behavior during this time. Is there a management company for this broken promise? Has this company experienced management defaults, and so forth.
Tips for Choosing a Life Insurance Company
In choosing a life insurance company, one of which is to assess its reputation. We value that reputation could be of three things, namely:
1. reputation Service
2. reputation Finance
3. Reputation Owners and Management
reputation Service
How to assess the reputation of the service, one way is to go to the Insurance Company's own offices. Or at least you know where his office is located. Assess the service provided when you go to the company. With it went his own company then you can know the quality of service such as what you will encounter when you must come in person one day, for example, in the care of your insurance money. This can be done if the Insurance company adopts a bancassurance. Example: Central Asia Raya (CAR) and others.
In choosing a life insurance company, one of which is to assess its reputation. We value that reputation could be of three things, namely:
1. reputation Service
2. reputation Finance
3. Reputation Owners and Management
reputation Service
How to assess the reputation of the service, one way is to go to the Insurance Company's own offices. Or at least you know where his office is located. Assess the service provided when you go to the company. With it went his own company then you can know the quality of service such as what you will encounter when you must come in person one day, for example, in the care of your insurance money. This can be done if the Insurance company adopts a bancassurance. Example: Central Asia Raya (CAR) and others.
If the Life Insurance companies are using the agency system, choose an insurance agent who really have a good atitutude, can explain the products with the best in the interest of the customer (rather than self-interest, such as on the ground in order to get higher commission), have emotional stronger at explaining the product it sells. Example: Central Asia Raya (CAR), and others.
reputation Finance
Assessing Financial reputation is to assess the company's financial statements could you ask for or do you see in print and in electronic media. Assess how much the company's capital strength compared to other companies. Also how good value the cash flows of the company. In the world of insurance, the technical term or risk-based capital RBC. This is a way to assess your health insurance company.
reputation Finance
Assessing Financial reputation is to assess the company's financial statements could you ask for or do you see in print and in electronic media. Assess how much the company's capital strength compared to other companies. Also how good value the cash flows of the company. In the world of insurance, the technical term or risk-based capital RBC. This is a way to assess your health insurance company.
Choose RBC Insurance Company which has over 120 percent. If you are confused what is RBC, RBC enough just ask how your insurance company to your insurance agent. If somewhat less than 120 percent, meaning that pretty, but should think again. Less than that, better find another. My advice, plilihlah RBC insurance companies that have well over 120%.
Reputation Owners and Management
Note also who the majority owner and manager of the insurance company who you are. See if they have an impeccable reputation in the community. Indeed, sometimes it may seem a bit subjective, but it would not hurt if you know who the owners and managers who your insurance company. If they have an impeccable reputation, avoid immediately.
Reputation Owners and Management
Note also who the majority owner and manager of the insurance company who you are. See if they have an impeccable reputation in the community. Indeed, sometimes it may seem a bit subjective, but it would not hurt if you know who the owners and managers who your insurance company. If they have an impeccable reputation, avoid immediately.
Other tips, if you choose a joint venture life insurance company, you can see how the reputation of the foreign companies in various other countries. Your insurance agent will usually have a collection of news about how reputable foreign companies in a number of other countries.
And if you select a local Insurance company (not the joint venture), then choose a reputable company "resilient", ie companies that are quite old and has been through various crises.
conclusion
From these simple tips above can help you reduce the risk of failure to pay your claim by the insurer. Most importantly, do not then you become afraid to take insurance.
And if you select a local Insurance company (not the joint venture), then choose a reputable company "resilient", ie companies that are quite old and has been through various crises.
conclusion
From these simple tips above can help you reduce the risk of failure to pay your claim by the insurer. Most importantly, do not then you become afraid to take insurance.
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