Saturday, August 27, 2005

When will the 10% discount on motor insurance cease?

Someone asked me, "When will the 10% discount on motor insurance cease? His car insurance will expire in a few months time. Will the discount be available on his expiry date?"

My reply, "If you wish to enjoy the 10% discount, you can call our hotline now and register. We will keep the discount for your next renewal. If you do not register now, you will not enjoy the 10% discount when the offer ceases in 1 or 2 months' time. "

So, act now. Register first. You can decide at the expiry date, if you wish to take up the offer.

3 comments:

Siokheng said...

I'm a come back kid - I used to insured my previous car with Income until last year when I bought a new vehicle and my distributor arranged the motor insurance for me.

This motor insurance is expiring next week but I've yet to receive the renewal letter from one of your competitor.

I called your hotline recently and after getting the quote, I was all happy to proceed till I was told that I need the renewal letter from your competitor for me to purchase the policy!

The reason given is that they need this to verify the NCD? Qs: Is there no other way to verify the NCD besides the renewal letter? How about the traffic authority records?

I told the hotline that if you want me to call my current insurance company now and asked for a renewal letter- I must well renew my policy with them. I tried to convince your hotline that I am a potential customer coming to your doorsteps.

The hotline got little convinces and decided to further verify with their supervisor, unfortunately the supervisor demand for the same document.

I was very puzzled! Can't I purchase a policy with Income without the renewal letter? This does not make any business sense to me at all. Please note this feedback is not against anyone within your organisation.

eddie loke said...

Dear Siok Heng,

I am in charge of motor insurance in NTUC Income.

I think the hotline staff could have given you the wrong advice.

We do not need you to provide previous renewal notice to insure your car with us.

We also do not need the renewal notice to confirm your NCD.

It is our practice to allow the NCD as declared by the customer first and check with the previous insurer later.

If you can contact me at eloke@income.com.sg with your information, I can assist you in your motor insurance renewal.

Siokheng said...

Thanks Eddie for your response.
I've bought the policy from your branch. I guess product training is the key to business growth. Consumer are more knowledgeable these days and company with frontline staff who are knowledgeabe about their businesses will benefit. This is part of a innovation process. Company who believed and willing to invest in this will only see better and better results.

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