The best Insurance Criteria

As the insurance business grows, new enterprises emerge. Of course, you have to be more observant in identifying insurance according to your needs.

So, this time, some of the most useful insurance company criteria can be your reference when procuring insurance products.

 

1. Company reputation

Company attractiveness is a necessary thing that you should consider when shopping for insurance products.

You can see it based on a business license. A good company, of course, has a license from the Financial Services Authority (OJK).

Apart from the legal side that you afford pay attention to, achievements and awards can also be considered. A good company will of course have many achievements.

 

2. Financial health

Insurance is one way to achieve financial Safety. Of course when you pick a financial health company that afford also be considered.

This is because healthy budget will of course have an have an effect on on the company’s ability to meet insurance for insurance claims submitted by all of its active customers.

In Indonesia, insurance businesses are required to meet financial principles specified in the Financial Authority Services Guidelines (Numbers Seventy one and 72/POJK.05/2016).

The provisions concerning a solvency ratio are a minimum of 120 percent, a minimum such as of IDR 100 billion for an insurance company and a minimum of IDR Two hundred billion for reinsurance, and an insurance company is labeled as good if the minimum resources are at least IDR 150 billion.

 

3. Broad branches

One more thing that makes an insurance company good or dangerous is its wide branch.

Branches here can mean places of work that are often in a lot of areas as well as company providers.

Determining a company with department places of work that are widely spread in a traditional areas most likely makes it simpler for you when you want to get information about the company’s products.

Not only that, workshop companions and hospitals that are quite good sized will also make it more convenient for you when you want to submit a claim.

 

4. Top class market share

The most beneficial insurance company in Indonesia, of course, afford provide an applicable top rate price.

You need to know, cheap rates don’t inevitably make the company’s main reference good or not. So double-check the legality and financial health of the company.

Meanwhile, for car insurance, the amount of the top class or the price of motor vehicle insurance has been regulated based on OJK Round Letter Number 6/SEOJK.05/2017.

So, for those of you who are curious about the amount of your favored car insurance Top rate, let’s do a calculation simulation using the following car insurance fill up calculator!

 

5. The number of corporate customers

The large number of corporate Purchasers, of course, makes one of the criteria for a good insurance company.

Because the number of shoppers is of course linked to the products Provided. In addition, with the many active clientele owned by the company, it will ensure the services from the insurance provided.

 

Asuransi Indonesia affiliated with foreign insurance companies

Interested in transforming into a customer at the most useful insurance company in the world, but disturbing about how to apply?

Don’t worry, in this country there are already some of the most useful overseas quality insurance establishments as our choice. Come on, let’s examine one by one.

 

1. Cigna

PT Asuransi Cigna (Cigna Indonesia) is the most useful life insurance company in Indonesia that is registered and supervised by the Financial Services Authority (OJK).

Headquartered in 1990, Cigna Indonesia is a subsidiary of Cigna Corporation. Cigna Corporation is one of the largest healthcare organizations in the United States market.

The company is situated in Bloomfield, Connecticut, and has operations the world over in 30 countries and has around 95 million consumers world wide served by approximately 41 thousand employees.

Cigna Indonesia has now grown and evolved into one of the most efficient rated insurance organizations in Indonesia with excellence in gives products and services that reach valued clientele and business companions directly.

At the end of 2016, Cigna Indonesia recorded a solvency ratio or RBC (Risk Based Capital) of 637 percent, far above the government law of 120 percent.

 

2. Tokio Marine

Tokio Marine General is also one of the world’s largest insurance enterprises present in Indonesia.

Tokio Marine Group itself is in fact a joint venture between Tokio Marine Asia Pte Ltd and PT Asuransi Jasa Indonesia which has been running since 1975.

The products presenting by the company contain car insurance, home insurance, travel insurance, business insurance and personal accident insurance. Meanwhile, Tokio Marine Life focuses on marketing life and health insurance.

 

3. MSIG

The company affiliated with the subsequent foreign company is PT Asuransi MSIG Indonesia.

This company is part of MSIG Holdings (Asia) Pte. Ltd. spread across ASEAN and Hong Kong.

In addition, the MSIG company also has more than 100 years of experience in gives general (loss) insurance resolve in plenty of countries.

Not only that, in Indonesia itself MSIG has also been registered as a member of the Indonesian General Insurance Organization (AAUI).

The company also has a business license from the Financial Services Authority (OJK) based on the Decree of the Minister of Finance Number KEP-588/MD/1987 dated 2 February 1987.

 

4. Allianz

Allianz (Allianz Life; NYSE: AZ) is a multinational financial services company based in Munich, Germany, whose essential business is insurance.

As of 2013, Allianz is the world’s Twenty fifth largest service provider by a mixed measure by Forbes Mag. Allianz was first founded in 1890.

Now Allianz Indonesia is supported by more than 1,400 employees and more than 20 thousand salespeople and supported by a community of banking spouse’s mother and other distribution companions to serve more than 7 million insureds in Indonesia.

 

5. AXA Mandiri

AXA Mandiri Financial Services (AXA Mandiri) is a life insurance company that was founded in 1991 with its head office in Jakarta.

Starting the insurance business in 2004, AXA Mandiri succeeded in opening a general insurance business in 2011. AXA is also known for affords insurance products

Till now, its services have turn out to be more complete and stronger and continue to awareness on featuring a spiritual resolve needed by Purchasers, each financial and investment services as well as life and asset protection.

So that’s the discussion about the list of the premiere insurance enterprises in the world. Apart from the preferable insurance Establishments, Lifepal has also reviewed bankrupt insurance Corporations, you know.

Yup, it is possible for an insurance company to go bankrupt. This can take place because of several insurance dangers that might occur, such as liquidity risk, recognition risk and others.

 

The top insurance company in the world can be observed to be good if it has the following characteristics

1. Have a healthy company finances
2. Has a high solvency ratio
3. Find out the track record of the insurance company
4. Have good credibility
5. Has comprehensive coverage benefits
6. Has a wide range of partners
7. A lot of guidelines are offered

Notably for insurance organizations in Indonesia, the additional traits are that they are registered and supervised by the OJK.

What are the most well known insurance in the world according to Forbes?

Whether insurance is good or not returns to customer Exhibit. Despite the fact that, when considered based on the Forbes ranking, Ping An Insurance, Allianz, and Zurich Insurance are first light in the category of the world’s most well known insurance establishments based on the number of belongings owned.