Choosing a good insurance company is not easy. Especially in the midst of intense competition among insurance companies like this now.
Many insurance companies claim they are the best. This can be seen if there are insurance products offered to the public through advertisements, almost none the less. Likewise with the performance they do, always highlight the fine. Somewhat rarely express insurance company management deficiencies they experience.
Still, there are several factors that should be considered in the process of choosing a particular insurance company for life insurance and loss.
Things to remember that in choosing a private insurance company, then that should be considered in general are three factors: First, financial strength (security). Second, services (service). And third, the cost.
The financial strength of insurance related to the company's financial ability to fulfill his promise when the situation requires. It is important to know, because not a few insurance companies are looking at the flashy exterior. For example storey buildings, vehicles directors're good. But when going claims from customers, the company is unable to pay.
In assessing the financial strength of this there are some benchmarks that need attention.
Asset and liability. This can be seen from the consolidated balance sheet which was announced in the newspaper. See also, whether the investments were planted in the current or longterm. In terms of liability (ability to repay obligations) will look at the balance sheet, how the debt on reinsurance, how he fulfilled his obligation to pay claims, and others.
Indicators of liability, among others, 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 solvabilitasnya level, as seen from its own capital divided by net premiums of at least 10% and investment funds a minimum of technical reserves divided by 100%.
Underwriting Policy. On the balance sheet and annual report will be seen that the insurance is still a profit, or earnings growth. This means underwiting polcy was good.
Its underwriters. Insurance personnel who have qualified or not. It is known from the profile companies that includes his underwriters.
Services (service) reflects the extent to which human resources at the company's quality or not. Moreover, insurance companies are selling a service, so excellent service is key. For example, the extent to which good service speed in issuing the policy, especially in the payment or claim compensation. In addition, about the service can actually be felt by the customer. Is this insurance company is really providing the best services for its customers.
In this connection it should also be questioned, whether the insurance company mereasuransikan on a first-class reinsurance security. This can be seen from its annual report. This is an important note, because if the company is not in - backed up by reinsurance, the company is likely to be speculative in receiving the premiums.
Cost problem is how much the cost incurred by insurance companies in operation. If it is greater than the cost of entry, then obviously the company is not efficient. If it is not efficient, then the edges will incur a loss. And if the ongoing losses, certainly not healthy.
In this connection it can also be seen in the price of premiums. Compare prices with the insurance premiums of other insurance. Where the quality is really good.
Recently the government has already chosen one of the benchmarks of health insurance (not the only one) is through mekanime RBC (risk-capital base). If large numbers of his RBC, this means the company is valued in good condition. But we must not be fixed solely with RBC numbers. Because, can also occur big companies that are doing great expansion like to open many branches, then his numbers would have RBC small.
Conversely, there is a small insurance company but never to expand, the number of RBC 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 large the gross premiums they receive each year, how much additional equity capital and assets every year.
No less important is how management behavior for this company. Is there a management company for this break a promise? Has the management of these companies have defaulted, and many others.
Many insurance companies claim they are the best. This can be seen if there are insurance products offered to the public through advertisements, almost none the less. Likewise with the performance they do, always highlight the fine. Somewhat rarely express insurance company management deficiencies they experience.
Still, there are several factors that should be considered in the process of choosing a particular insurance company for life insurance and loss.
Things to remember that in choosing a private insurance company, then that should be considered in general are three factors: First, financial strength (security). Second, services (service). And third, the cost.
The financial strength of insurance related to the company's financial ability to fulfill his promise when the situation requires. It is important to know, because not a few insurance companies are looking at the flashy exterior. For example storey buildings, vehicles directors're good. But when going claims from customers, the company is unable to pay.
In assessing the financial strength of this there are some benchmarks that need attention.
Asset and liability. This can be seen from the consolidated balance sheet which was announced in the newspaper. See also, whether the investments were planted in the current or longterm. In terms of liability (ability to repay obligations) will look at the balance sheet, how the debt on reinsurance, how he fulfilled his obligation to pay claims, and others.
Indicators of liability, among others, 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 solvabilitasnya level, as seen from its own capital divided by net premiums of at least 10% and investment funds a minimum of technical reserves divided by 100%.
Underwriting Policy. On the balance sheet and annual report will be seen that the insurance is still a profit, or earnings growth. This means underwiting polcy was good.
Its underwriters. Insurance personnel who have qualified or not. It is known from the profile companies that includes his underwriters.
Services (service) reflects the extent to which human resources at the company's quality or not. Moreover, insurance companies are selling a service, so excellent service is key. For example, the extent to which good service speed in issuing the policy, especially in the payment or claim compensation. In addition, about the service can actually be felt by the customer. Is this insurance company is really providing the best services for its customers.
In this connection it should also be questioned, whether the insurance company mereasuransikan on a first-class reinsurance security. This can be seen from its annual report. This is an important note, because if the company is not in - backed up by reinsurance, the company is likely to be speculative in receiving the premiums.
Cost problem is how much the cost incurred by insurance companies in operation. If it is greater than the cost of entry, then obviously the company is not efficient. If it is not efficient, then the edges will incur a loss. And if the ongoing losses, certainly not healthy.
In this connection it can also be seen in the price of premiums. Compare prices with the insurance premiums of other insurance. Where the quality is really good.
Recently the government has already chosen one of the benchmarks of health insurance (not the only one) is through mekanime RBC (risk-capital base). If large numbers of his RBC, this means the company is valued in good condition. But we must not be fixed solely with RBC numbers. Because, can also occur big companies that are doing great expansion like to open many branches, then his numbers would have RBC small.
Conversely, there is a small insurance company but never to expand, the number of RBC 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 large the gross premiums they receive each year, how much additional equity capital and assets every year.
No less important is how management behavior for this company. Is there a management company for this break a promise? Has the management of these companies have defaulted, and many others.
1 komentar:
Wonderful post. Thank you so much for suggesting all these great ideas to choose the best car insurance policy in no time. All the people try their level best to find the best option. I am sure these tips will benefit all.
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