Actually, the Criteria Insurance Companies Perform Well known from a number of benchmarks used to rank the performance of insurance companies. It is composed of a list of insurance companies perform well.
10 Criteria Insurance Companies performs well
According to InfoBank assessment in the Rating of insurance 123 InfoBank version, here are the 10 Criteria Insurance Companies in categorized performs well.
1. Healthy: how RBC Insurance Company?
Risk-Based Capital (RBC) is used to measure how safe or how insurance companies are financially healthy insurance companies. Healthy or illness insurance company financial conditions reflected in the large or the small ratio of RBC. The insurance company is usually a healthy ratio of his great RBC.
2. How is Liquidity ratio for insurance companies?
How can afford insurance companies to manage their finances well and how capable of fulfilling obligations such as debt depends on the ratio of liquidity. The high liquidity ratios indicate the financial condition is in good condition.
3. The extent of the guarantee fund to protect the customer’s insurance?
The guarantee fund is an insurance company’s assets used as collateral in order to protect the interests of the policyholders, insured, or participants
4. Investment/Technical Reserves Plus Debt Claims
Used to find out the capabilities of the company in paying its obligations to policyholders in the long term. The numbers 100% to benchmarks to find out investment/technical reserves plus debt claims. Equal to or more than 100% the best category is included.
5. Fixed assets/private equity
The extent to which the efficiency of the insurance company can be known of the fixed assets of the insurance company. No more than 25% is the best number for the insurance company performs well.
6. Change in Gross Premiums
To find out the capabilities of companies in maximizing premiums, find out how changes in gross premiums of insurance companies. If the insurance companies got a value of 33% or more, the insurance companies categorized as the best insurance company.
7. Premium Income to capital Own Neto
How to own capital strength against his own dependants in the insurance company? Less or equal to 300% is the standard of the best insurance companies.
8. Investment Income Neto against average Investment
Find out if the investment income Neto against average investment equal to or greater than the average interest rate of the investment or not. If equal or greater, it means that the insurance company is one of the best insurance companies.
9. The ratio of Burden Claims Neto
To find the insurance company performs well, the ratio of this one must be equal to or less than 100%.
10. The ratio of profit (loss) before tax against the average private equity
Used to measure the ability of private equity in earnings, scoring his best standards which must be equal to or more than the average interest rate of the investment.
4 it also can be used as a measure
Sometimes prospective clients don’t have the time or knowledge to examine the data so quickly tempted with various attractive offers provided the insurance. To minimize the things that are not desirable in selecting a car insurance company. The following are the 4 criteria for a good car insurance company in addition to the above criteria 10.
1. How long have the insurance companies stand?
The length of the stand could be indicators of insurance companies are easy to examine the performance of insurance companies. A new auto insurance company stood less than one year or a new one year cannot be ensured in the future later. Because the insurance business is a business risk. If you haven’t yet experienced, could have been the company into bankruptcy.
2. Have a good reputation
Reputation cannot be built in a short time. The insurance company with a good reputation on an ongoing basis the need to maintain and improve its performance. To get a car insurance company that has a good reputation, you can seek information from a variety of sources whether of social media or from people around you.
3. Have plenty of Workshop Partners
Workshop partners are the spearhead of the service car insurance. The more partners, the great repair shop services as easier to reach the owner of the vehicle. The customer will feel comfortable without fear when about to travel.
With a large number of available partners workshop, if things happen that you don’t want against your car on the road, you can call the relevant parties and wait until car repair is complete.
4. Affordable Premiums
A good insurance program doesn’t have to be expensive. The performance of a good car insurance company can also be seen from the premiums offered. If you care, a good car insurance company can offer affordable premiums and good quality.
Each company offers different premium rates. Adjust the premium offered by the budget you have. A good Criteria Insurance Companies car will certainly help you get a premium fit.
Consider The Following Before Buying Car Insurance
Before you buy car insurance product, consider some of the following.
- Customize to your needs. For example, type All Risk insurance is required if the car is the very high risk. Beyond that, the type of TLO can be considered.
- Adjust with the ability when want to select insurance. Ideally, the magnitude of the insurance premium ranges from 10-15% of revenue. Payment can be done yearly, semester, quarter, or monthly.
- Shop for insurance products from insurance companies that are clearly listed on OJK and done power marketers are licensed.
- Learn all the benefits of the products purchased and the procedure of its claim clearly so easily in the process of administration in the future.
- Don’t be tempted with waffle power marketers. If necessary, ask for a sample copy of the insurance policy products that want to purchased to study before deciding to buy.
- Always be open and frankly to power marketers in providing the information they need in order to avoid rejection at the time of filing the claim.
- Be sure to reread the policy provision at the time the policy is already so. Is it in accordance with the agreement at the time the insurance buying process or not.
In addition to the above, you don’t easily get caught up in the trap of following car insurance.
- Do not be easily seduced by the language of marketing.
- Don’t be tempted game prices.
See also Network of the Ministry of Finance and Performance
Some of the above Criteria Insurance Companies can be used as consideration in selecting the right insurance product. Look at the performance of the insurance company could be from two sides, namely the financial and service performance as well as the network.
Before choosing, you should consider the well so that the results are good and liking. After getting the best insurance company, make sure that the product that wants to be taken according to your needs and you understand the Administration set out the Criteria Insurance Companies.