Tips For Choosing a Good Insurance Company

     Choosing a good insurance company is not easy. Especially in the midst of intense competition among insurance companies today.
       Many insurance companies claim they are the best. This can be seen if there is an insurance product offered to the public through advertisements, almost nothing is lacking. Similarly, the performance they do, always highlight the fine. Somewhat rarely express insurance company management weaknesses they experience.
     However, 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, 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 beyond it classy. For example storey buildings, vehicles that good directors. But when there claims of customers, the company can not pay.
     In assessing the financial strength of these there are some benchmarks that need attention.

    Assets and liabilities. This can be seen from the consolidated balance sheet is published in the newspaper. See also, whether planted in the current investments or long-term. In terms of liability (ability to pay off liabilities) will look at the balance sheet, how the debts on 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%. 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 funds technical reserves divided by at least 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 him. Insurance has personnel qualified or not. It is known from the profile companies that includes the underwriters him.
    Service is the extent to which the mirror of 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. Also, about the service can actually be felt by the customer. Is this insurance company was absolutely the best services for its customers.
     In this connection should also be questioned, whether the insurance company mereasuransikan on a first-class reinsurance security. 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 of expenses incurred by insurance companies in operation. If it is greater than the cost of entry, then obviously the company is not efficient. If it's not efficient, so the edges will incur a loss. And if you continually lose, definitely not healthy.
     In this connection could also be price premiums. Compare the price of insurance premiums the same 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 is large RBC, this means the company is valued in good condition. But we should not be fixated solely with RBC numbers. Therefore, large companies can also occur which are conducting a major expansion such as opening more branches, then his numbers will surely 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 only measure, whether the insurance company is healthy or not.
      In this case who is also noteworthy is the performance of the company within 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 over the years. Is there a management company for this broken promise? Has the management of these companies have defaulted, and so forth.


Tips for Choosing a Life Insurance Company
In choosing a life insurance company, one of which is to assess reputation. Reputation can we value three things:

•     Reputation Services

•     Financial Reputation

•     Reputation Owners and Management

Reputation Services
How to assess the reputation of the service, one way is to come to own the insurance company's office. Or at least you know where his office is located. Assess the services provided when you go to the company. With the company came to own it then you can know what kind of service quality that you'll meet when you must come in person one day, for example, in taking care of your insurance money. This can be done if the insurance company that adopts a bancassurance. Example: Central Asia Raya (CAR) and others.
If the insurance company is using the agency system, choose an insurance agent who really have a good atitutude, can explain the products with the best customer interest (not interest him, like on the ground in order to get higher commission), have emotions strong when describing the product it sells. Example: Central Asia Raya (CAR), and others.
Financial Reputation
Assessing Financial reputation is to assess the company's financial statements could you ask for or you see in print and in electronic media. Assess how much the company's capital strength compared to other companies. Also how good the value of the company's cash flow. In the world of insurance, the technical term or risk-based capital RBC. This is a way to assess your health insurance company.
Choose the RBC Insurance Company which has over 120 percent. If you are confused about what it is RBC, RBC enough to ask just how much your insurance company to your insurance agent. If somewhat less than 120 percent, meaning that pretty, but had to think about it anymore. Less than that, better find the others. My advice, plilihlah RBC insurance companies that have well above 120%.
Reputation Owners and Management
Note also the majority owner who is and who the manager of your Insurance Company. 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 it immediately.
Another tip, 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 usually has a collection of news about how the reputation of the 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 the simple tips above can help you reduce your risk of unpaid claims by the insurance company. Most importantly, do not then you are so afraid to take insurance.