tag:blogger.com,1999:blog-17473688.post8290046902538846905..comments2024-03-28T17:31:22.152+08:00Comments on My Singapore News: Issues that are not forgottenChua Chin Leng aka redbeanhttp://www.blogger.com/profile/11743716923635835397noreply@blogger.comBlogger10125tag:blogger.com,1999:blog-17473688.post-51385557894818590762010-03-17T09:15:15.468+08:002010-03-17T09:15:15.468+08:001. Prudential and AIA are Life Insurers. Their bus...1. Prudential and AIA are Life Insurers. Their business is a bit different from general insurers. (NTUC is a composite insurer-i.e., it does both life and general business)Life insurers in Singapore historically have made huge profits selling whole-life, endowment and certain types of investment-linked policies. So have the agents - they make huge commissions selling these policies. These Robert Tannoreply@blogger.comtag:blogger.com,1999:blog-17473688.post-75959115149536478972010-03-17T08:49:34.928+08:002010-03-17T08:49:34.928+08:00It is the right move to acquire Prudential and AIA...It is the right move to acquire Prudential and AIA. A lot of money to be made. Oh no, there are losing money, like motor insurance. <br /><br />All insurance companies are losing money and need to raise premiums higher to cover cost.Chua Chin Leng aka redbeanhttps://www.blogger.com/profile/11743716923635835397noreply@blogger.comtag:blogger.com,1999:blog-17473688.post-44120324749253845502010-03-16T17:18:50.473+08:002010-03-16T17:18:50.473+08:00Historically (and probably now as well), motor ins...Historically (and probably now as well), motor insurance is a commodity product with little perceptible product differentiation.<br /><br />It is therefore, a high volume/low margin product which consumers will tend to purchase from the most price competitive seller.<br /><br />This results in stiff price competition between insurers, where insurers try very hard to gain/maintain market share Robert Tannoreply@blogger.comtag:blogger.com,1999:blog-17473688.post-16318612551893264072010-03-16T14:28:34.395+08:002010-03-16T14:28:34.395+08:00When people talk to walls do they get a reply? No....When people talk to walls do they get a reply? No. Only echoes. That's what we get nowadays.<br /><br />Singaporeans deserve the Government that they voted for. <br /><br />End of story.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-17473688.post-48358377214398398072010-03-16T14:28:10.728+08:002010-03-16T14:28:10.728+08:00I don't know who is making all the money in mo...I don't know who is making all the money in motor insurance. They just demand and the motorists pay. What choice is there? Shopping for insurance when A and B may differ by $100?Chua Chin Leng aka redbeanhttps://www.blogger.com/profile/11743716923635835397noreply@blogger.comtag:blogger.com,1999:blog-17473688.post-64103277666198586292010-03-16T12:38:05.709+08:002010-03-16T12:38:05.709+08:00Hehe,
The relevant parties have already ate up al...Hehe,<br /><br />The relevant parties have already ate up all the food for thought aeons ago. They just wished the complaints would go away and things will simmer down into nothingness and motorists will just pay up and shut the fuck up.<br /><br />I often wonder why a lst world country like this cannot tackle a mundane problem and make motorists a happier lot. Is it a lack of will power? Are we Wally Buffethttps://www.blogger.com/profile/15310530661689310446noreply@blogger.comtag:blogger.com,1999:blog-17473688.post-815516752862605152010-03-16T12:04:05.730+08:002010-03-16T12:04:05.730+08:00Should be policy instead of police in para 2c.Should be policy instead of police in para 2c.Robert Tannoreply@blogger.comtag:blogger.com,1999:blog-17473688.post-46814151962304758332010-03-16T12:02:08.852+08:002010-03-16T12:02:08.852+08:00It's probably true that the insurers are not m...It's probably true that the insurers are not making much profits or a small loss from selling motor insurance. Usually, when profit arises, they will lower the premium the following year and vice versa.<br /><br />I think the only way to lower the premiums more meaningfully and in the longer term is to consider implementing one or a few of the following possible suggestions:<br /><br />(1) Robert Tannoreply@blogger.comtag:blogger.com,1999:blog-17473688.post-31775765182916004662010-03-16T11:55:57.752+08:002010-03-16T11:55:57.752+08:00The last parliament sitting no one raise this issu...The last parliament sitting no one raise this issue. Would any MP take up this cause?<br /><br />I didn't hear anyone say aye. Maybe got to shout louder and more frequently.<br /><br />Where is undertaker? Want to change profession to be underwriter? They claim to be losing money then don't cling to it lah, let other people do it. Yes Wally, the motorist should do a buy out from all theseChua Chin Leng aka redbeanhttps://www.blogger.com/profile/11743716923635835397noreply@blogger.comtag:blogger.com,1999:blog-17473688.post-71038346364882655772010-03-16T11:14:41.892+08:002010-03-16T11:14:41.892+08:00These motor insurance underwriters are more like u...These motor insurance underwriters are more like undertakers. They undertake that is,to fleece your pockets but no one will come to your aid even if you bang your head against the wall and cry out in despair.<br /><br />Think you can claim against your own comprehensive insurance and not loose the NCB because you also bought a scam of an NCB protector? Think again. When the next insurance renewalWally Buffethttps://www.blogger.com/profile/15310530661689310446noreply@blogger.com