The A1 Approach
The purpose of taking an Insurance Policy is so that you can get a claim. In the
recent years, with the renewal of tariffs by the Regulator, the entire market has
become sensitized to the Premium charged, with each corporate judging its insurance
efficiency in terms of the premium reduction achieved.
This mindless focus on the premium has resulted in every insurance buyer losing sight of the basic fundamental of insurance – coverage. Very often the entire exercise of insurance is completed so close to the renewal date that there is hardly any time to check whether the policy will actually deliver what the buyer really wants at that price.
This causes problems at the time of claims, and the increasing litigations/rejections in claims are testimony to the sheer inadequacy of this approach.
While others focus only on the L1 Approach, we focus on the A1 Approach - getting you the Best AND the Cheapest covers. No gaps in covers, no unnecessary fine print.
Unfortunately, very often it is the mistaken belief of most buyers that by asking
multiple intermediaries and multiple insurers to quote for their covers, they will
get the lowest prices.
This fallacious belief stems from the belief that all insurance covers and insurers are the same, and hence price is the only differentiator.
This could not be further from the truth. Every insurer has a different servicing paradigm which is continuously evolving. Every insurer has a Claims Philosophy that mutates. Comparing two different insurers or their products on price alone could be a fatal mistake.
So what is the right approach?
To get A1 prices, you must adopt the following approach :
Reverse engineering of covers