Editor
The New Paper
I refer to the letter 'Premium rose after minor accident' (TNP, 13 July) by Ms Janet Chua Yah Choo.
Ms Chua said that she was involved in a minor accident recently. The damage on the third party's vehicle was small but the claim was quite substantial. As a result, she had to pay a premium loading and had her no-claim discount reduced by her insurer during the policy renewal.
Ms Chua is not insured by NTUC Income. As this is a common situation, we wish to share our current practice in dealing with this type of claim, so as to protect the interest of our policyholder.
When we receive a third party claim, we write to our policyholder with the details of the claim. We ask our policyholder to give us his feedback on the claim. If the claim is inflated, we will get a statement from our policyholder to reject or contest the third party claim. If the unjustified claim is not withdrawn, we will take legal action against the motorist who has authorised the workshop to file the claim.
If we are able to reject the claim, we will allow our policyholder to retain the No Claim Discount.
If a third party wish to make a claim against our policyholder, they are advised to go to an Idac center within 24 hours of the accident. We will assess the damages and make an offer to settle the claim expeditiously. We will also offer a cash settlement and allow the third party to find their own repair workshop.
Freddy Neo,
Senior Claims Manager,
NTUC Income
Dealing with motor claims is never easy...
ReplyDeleteThe experience is similar the whole world over.
Claims are inflated through the unneccessary use of lawyers , repair and injury cost are inflated resulting in higher claim cost.
It takes both the insurer as well as the insured to work together to minimise inflated and fraudulent claims.
It is important that an insurer manage claims and not merely process claims....
Income is doing well to manage claim.
There will be no end to customer's complain on car insurance. No matter how much it is explained.
ReplyDeleteBut in the first place, why do we need car insurance to be mandatory in the first place? if just for the sake of providing a cover against bank loan, should just have a declining term policy for it, like home protection scheme. the rest should be optional.
It is not made mandatory for all human to have insurance, why car? is car worth more than human?
Third party "Act only" motor insurance is mandatory in Singapore.
ReplyDeleteReason being to ensure that third party bodily injury and deaths will be compensated.
Thanks for sharing the blog, seems to be interesting and informative too. Can you suggest some of the interesting places to visit for symptom checker app
ReplyDelete