Friday, April 13, 2012


Choosing a good insurance company is not easy. Moreover, in the midst of intense competition among insurance companies 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. Management of insurance companies rather rarely express their weaknesses are natural.

However, there are several factors that should be considered in the process of selecting an insurance company, especially for life insurance and loss.
The thing to keep in mind that 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, vehicle good directors. But when there claims of customers, the company can not afford to pay.
In assessing the financial strength of these there are several benchmarks that need attention.
1. Assets and liabilities. This can be seen from the consolidated balance sheet is published in the newspaper. See also, whether the investment is planted in the current or longterm. In terms of liability (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 of net liabilities include equity (own capital) divided by net premiums (net premiums) of at least 50%. Equity divided by gross premium (gross premium) of at least 20%. Limit the level of solvency, as seen from its own capital divided by net premiums of at least 10% and investment funds technical reserves divided by a minimum of 100%.
2. 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.
3. Its underwriters. Insurance has personnel qualified or not. It is known from a company profile that includes the underwriters it.
Services (service) is a reflection of the extent of human resources at the company's qualified or not. Moreover, the insurance company is 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 claims. 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 the insurance company in reinsurance mereasuransikan class safety. This can be seen from its 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 problem is how much the cost incurred by insurance companies in operation. If it is greater than the cost of income, then obviously the company is not efficient. If it's not efficient, it will end up losing money. And if you continually lose money, certainly not healthy.
In this connection may also see the price premiums. Compare prices of insurance premiums with other insurance. Where the quality is really good.
Today the government has set a benchmark of health insurance (not the only one) is through mekanime RBC (risk capital base). If the number of RBC, 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 a major expansion like to open many branches, then the RBC numbers would be small.
In contrast, 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 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 behavior of the management company for this. Is there a management company for this broken promise? Has the management of these companies have defaulted, and so forth.

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