According to the 2020 claims report, the claim rate is between 97-99%, which means that if 100 people apply for a claim, only 1-3 people cannot get a claim from an insurance company.
Therefore, insurance companies are doing well in claim settlement, so why does such a high rate of claim settlement still not change the people's perception of insurance?
On the one hand, the base of insurance claims is relatively large. For example, Pacific Life had more than 2 million claims in 2017. If 1% of customers did not receive a claim, there would be more than 20,000 people who did not receive a claim. This is only Pacific Life, so all insurance companies add up, and the number of people who have not received a claim is more, and the scope of public opinion is also greater.
On the other hand, there is a certain deviation in the public's perception of insurance.
Let's take a look at the causes of "difficult claims" below?
1. Misunderstanding of insurance liability
If you are interested, you can ask the people around you who have bought insurance, what kind of insurance they have bought, and what are these insurances covered? If nothing else, the answer you get must be that they only know how much they pay each year, and what products have they bought? What are the guarantees? Basically it is not clear.
This makes it easy for people to think that if you buy insurance, the insurance company will have to pay if something goes wrong. Paying only premiums every year does not see any benefits. Eventually something goes wrong. It is not covered by the insurance contract. Can consumers not be frustrated? Therefore, it is necessary to sort out your own protection when you pay premiums every year, so that you know what you have in mind.
2. Misunderstanding of insurance professionalism
Insurance is a science, not taken for granted. For example, with regard to the knowledge of accidents, if you buy accident insurance, after an accident, if the result given by the appraisal department is death from illness, then it cannot be compensated. If the result of the appraisal is accidental death, it can be compensated. This is the insurance profession. The problem is not the problem of individual insurance companies.
We are also pleased to see that many accident insurance products of insurance companies have included the more controversial claims of sudden death as insurance liability, but the amount of claims will be lower.
Another example is the loss compensation principle of medical insurance. If social security, other insurance companies, or other third parties have already compensated for the losses, the insurance company really can no longer compensate.
Therefore, we must look at claims objectively and try to fully protect all aspects when buying insurance. For example, if you buy accident insurance, you must also buy life insurance. In this way, if accidents such as sudden death occur, the insurance will also compensate, and there will be no disputes.
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