Indicators of the insurance company as the insurer the right.
Welcome imuel's blog. khta will discuss why the insurance company underwriter the right, the indicator is why the insurance company the right insurer. today we are faced with a number of insurance companies that offer a wide range of insurance products, insurance companies are managed both state and private. they claim that they are the best insurance company. even so we should not be interested in directly to their offer. especially against an insurance company who claimed that he was the best. some indicators to consider in choosing an insurance company as an insurer the right, namely:
1. insurance premiums.
insurance premiums relating to the benefits of insurance products that will be associated with the ability of insurance companies to bear the risk and the ability of insurance companies to pay insurance claims. we should do a comparison of insurance premiums as well as the completeness of the insurance products offered by any insurance company before you decide to buy their insurance products.
Read too: Reasons for the importance of this insurance program turns !!
2. The financial statements.
insurance companies are required to get higher financial statements in the mass media so that people can know the condition of the insurance company to be chosen. however, there are obstacles for the public at the time of reading financial statements, because not everyone is able to analyze the financial statements. by reading the report we can perform an analysis of the risk-based capital and liquidity levels of a company.
* Risk based capital / RBC
is a method of calculating the minimum limit of solvency by taking into account the various risks that may be faced by insurance companies, for example, the failure of enterprise wealth management, wealth imbalance between current and current liabilities, as well as the difference between the insurance claims expense incurred and estimated insurance claims. The ideal insurance company can always meet its obligations to other parties, such as the payment of insurance claims. aruransi company should have a ratio above 100% solvency margin between the minimum limit of solvency, it is ideal insurance company. solvency margin is the difference between the admitted assets and liabilities of the company. to determine the financial condition based solvent or not solvennya an insurance company, is an example of the calculation.
Read too: 10 Stage insurance in any insurance company !!
Known three elements in Imuel's insurance company, namely:
1. admitted assets amounted to $ 21.5 million in 2016 and 2017 amounted to $ 30 million
2. liabilities and own capital amounted to $ 25,750,000 in 2016 and 2017 amounted to $ 32.5 million
3. own capital amounted to $ 3,250,000 in 2016 and 2017 of $ 5,000,000
based on these data can be seen imuel's financial condition following:
2016 (no solvent):
admitted assets (a) $ 21.5 million.
liabilities and equity (b) $ 25,750,000.
equity (c) $ 3,250,000
funding requirements (d = b-c) $ 22.5 million.
solvency (e = a-d) $ 1,000,000.
2017 (solvent):
admitted assets (a) $ 30 million.
liabilities and equity (b) $ 32.5 million.
equity (c) $ 5,000,000.
funding requirements (d = b-c) $ 27.5 million.
solvency (e = a-d) $ 2,500,000.
b. the level of liquidity.
the level of liquidity is the amount of cash, bank cash funds, investments, and receivables in a company. a company that is well demonstrated by the financial statements that have gain.
3. costs.
the cost of an expenditure that is used to finance the operations of insurance companies. it shows the performance of the insurance company is not efficient. the performance of companies that are not efficient will result in losses.
4. The size of the insurance company.
we must be careful and cautious in choosing an insurance perurahaan. generally someone choose large insurance company with a big name, big capital, as well as the standard technology systems and services that support the company's operations. the standard of service is the provision of excellent service to the insured. excellent service in question in this case is the speed of the insurance process, from the issuance of the insurance policy to the payment of insurance claims. however, there are also prospective insureds who choose an insurance company that systems and procedures are not bureaucratic resulting in ease of approach between the insurer and the insured person.
5. The management of the company.
occupied by professional people and have high credibility. therefore the person occupying the position of the management company must comply with the requirements and compliance capabilities that can be known through the fit and proper test.
6. asked.
is the easiest way for us if you want to know about the insurance company. we can ask a friend, a person who already holds an insurance policy, or it can ask the broker company providing intermediary services in the closing and settlement of indemnity insurance acting on the interests of the insured person, by asking directly to them we can know the reputation and the condition of the insurance company concerned.
Read too: Property insurance | 8 types of insurance objects most guarantee!!!
That's our discussion about indicators of an insurance company as an insurer the right. may add insight and hopefully this article useful.
Welcome imuel's blog. khta will discuss why the insurance company underwriter the right, the indicator is why the insurance company the right insurer. today we are faced with a number of insurance companies that offer a wide range of insurance products, insurance companies are managed both state and private. they claim that they are the best insurance company. even so we should not be interested in directly to their offer. especially against an insurance company who claimed that he was the best. some indicators to consider in choosing an insurance company as an insurer the right, namely:
1. insurance premiums.
insurance premiums relating to the benefits of insurance products that will be associated with the ability of insurance companies to bear the risk and the ability of insurance companies to pay insurance claims. we should do a comparison of insurance premiums as well as the completeness of the insurance products offered by any insurance company before you decide to buy their insurance products.
Read too: Reasons for the importance of this insurance program turns !!
2. The financial statements.
insurance companies are required to get higher financial statements in the mass media so that people can know the condition of the insurance company to be chosen. however, there are obstacles for the public at the time of reading financial statements, because not everyone is able to analyze the financial statements. by reading the report we can perform an analysis of the risk-based capital and liquidity levels of a company.
* Risk based capital / RBC
is a method of calculating the minimum limit of solvency by taking into account the various risks that may be faced by insurance companies, for example, the failure of enterprise wealth management, wealth imbalance between current and current liabilities, as well as the difference between the insurance claims expense incurred and estimated insurance claims. The ideal insurance company can always meet its obligations to other parties, such as the payment of insurance claims. aruransi company should have a ratio above 100% solvency margin between the minimum limit of solvency, it is ideal insurance company. solvency margin is the difference between the admitted assets and liabilities of the company. to determine the financial condition based solvent or not solvennya an insurance company, is an example of the calculation.
Read too: 10 Stage insurance in any insurance company !!
Known three elements in Imuel's insurance company, namely:
1. admitted assets amounted to $ 21.5 million in 2016 and 2017 amounted to $ 30 million
2. liabilities and own capital amounted to $ 25,750,000 in 2016 and 2017 amounted to $ 32.5 million
3. own capital amounted to $ 3,250,000 in 2016 and 2017 of $ 5,000,000
based on these data can be seen imuel's financial condition following:
2016 (no solvent):
admitted assets (a) $ 21.5 million.
liabilities and equity (b) $ 25,750,000.
equity (c) $ 3,250,000
funding requirements (d = b-c) $ 22.5 million.
solvency (e = a-d) $ 1,000,000.
2017 (solvent):
admitted assets (a) $ 30 million.
liabilities and equity (b) $ 32.5 million.
equity (c) $ 5,000,000.
funding requirements (d = b-c) $ 27.5 million.
solvency (e = a-d) $ 2,500,000.
b. the level of liquidity.
the level of liquidity is the amount of cash, bank cash funds, investments, and receivables in a company. a company that is well demonstrated by the financial statements that have gain.
3. costs.
the cost of an expenditure that is used to finance the operations of insurance companies. it shows the performance of the insurance company is not efficient. the performance of companies that are not efficient will result in losses.
4. The size of the insurance company.
we must be careful and cautious in choosing an insurance perurahaan. generally someone choose large insurance company with a big name, big capital, as well as the standard technology systems and services that support the company's operations. the standard of service is the provision of excellent service to the insured. excellent service in question in this case is the speed of the insurance process, from the issuance of the insurance policy to the payment of insurance claims. however, there are also prospective insureds who choose an insurance company that systems and procedures are not bureaucratic resulting in ease of approach between the insurer and the insured person.
5. The management of the company.
occupied by professional people and have high credibility. therefore the person occupying the position of the management company must comply with the requirements and compliance capabilities that can be known through the fit and proper test.
6. asked.
is the easiest way for us if you want to know about the insurance company. we can ask a friend, a person who already holds an insurance policy, or it can ask the broker company providing intermediary services in the closing and settlement of indemnity insurance acting on the interests of the insured person, by asking directly to them we can know the reputation and the condition of the insurance company concerned.
Read too: Property insurance | 8 types of insurance objects most guarantee!!!
That's our discussion about indicators of an insurance company as an insurer the right. may add insight and hopefully this article useful.
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