Insurance is a form of risk sharing so much excess motor vehicle insurance companies take out just the premium cost for customers at the same time reduce the number of times the compensation for small damage.
Thanks to the number of new cars rose sharply, up about 70-80% compared to the year 2014, the array of motor vehicle insurance will continue strong growth momentum in the year 2016. Besides, the insurer also actively putting out flexible policies to encourage the Member to join more than insurance.
However, with the increase of the turnover, the motor vehicle insurance business also has very high compensation rate. Usually, people only buy insurance when they feel anxious about the big expenses in the future, about the risks of illness, accidents or simply afraid of being fined if not buy insurance. After that, the insurance company usually only pay for customers when they suffer a loss of spiritual, physical or financial.
Many people believe that the insurance companies have very high profits because they have never received compensation. Some other thoughts: “I buy insurance, then I have to use it!”. And also not uncommon people asked: “I’m about to born a baby, so I can buy maternity insurance?” or “I’ve just met an accident, but I have yet to buy insurance. So is there any way to help me get the money? “.
These people have probably never thought that they are looking to profit from the loss of others, namely from the customers and the shareholders of the insurance company.
With the psychology regarded Autos as “baby driver”, car scratches is carrying into the garage to cosmetic touch-up painting again, so the frequency of claims for automobile insurance in some nations in Asia is highly folded 10-15 times that of developed countries.
However, in reality, not many people know that an insurance company must take 7-8 years is beginning to reach the break-even point and must also take the additional possible further time to recover back the initial investment and begin a modest way of dividend.
The time has come that we should understand that, insurance is a form of risk sharing, is the contribution of the unhappiness of the singular. Therefore, do not be personal interests that make most other customers were affected.
For that reason, the exemption level is usually much the company launched to encourage customers to share risks with the insurance company by way of expenses for small damage. This helps the client maintain the car more carefully, reduce the number of claims for the small risks. The insurance company, therefore, have more time to focus on better customer service. Applying excess also helps customers get better rates from 15 to 45% compared with when there is no excess.
On the market, Liberty is the company’s first casualty insurance technology investment and online culture most sewn from purchased insurance to solve the insurance and manage the entire process of handling compensation by tools online to ensure transparency in compensation issues , help resolve quickly and for the best customer support.
Mr. Jason, Marketing Director, Liberty insurance company said: “the compensation process to ensure transparency and consistency, we usually do not come to the scene of the accident, which suggested putting the customer’s vehicle on any genuine garage across the country to assess the losses. We rely on accident records and verification by the competent authority provided for base compensation “.