Sunday, January 15, 2006

Customers want to buy insurance directly

E-MAIL FROM CUSTOMER

Dear Mr Tan

I read your blog with great interest; it provides a lot of informative material with real life case studies.

I have been looking around for insurance policies to save for children and own retirement. I realise the amount of commissions that go to the adviser is quite high. Up to two years of premiums go towards their commissions.

I know that more professionals are now turning to financial advisers simply because they want to buy policies for themselves and their families without having to pay high commissions to agents.

NTUC has gone through a positive revolutionary changes under your stewardship. I look forward to a day when you become a one-stop shop for insurance. You should allow customers to buy insurance directly, without having to pay high commission.

People like me can read and understand the insurance products. All we want is to buy the product and not pay for the service of the agent.

For now, we do not seem to have a choice but to have to go through an agent. Every insurance company I have gone to has the same system.

Mr Tan, I sincerely implore that you kindly look into this revolutionary way of selling insurance. I can assure you there will be a lot of buyers who are interested to buy insurance in this way.

When that day comes, I will certainly be one of your first customers at the service counter. I hope that you will provide several counters, to service those who walked in, and those who made an appointment. I shall hold my breath and reserve my funds for now.

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REPLY

Dear

We do have a business center that operates in the way that you wish for. It is is staffed by salaried consultants, who are able to provide advice and also to help you to find the right insurance policy to buy. We provide a modest discount to a customer who come to us directly.

Call 6788 1111 if you wish to make an appointment to see a consultant at our business center.

We also have an interactive and educational website for you to learn about the various insurance products. You can visit www.KnowYourInsurance.com.sg

Tan Kin Lian
Chief Executive Officer

1 comment:

Freddy said...

I agree that NTUC Income should offer choices to consumers. There are some who may want to continue using intermediaries to service them. There are many others who would like to purchase their insurance policies direct and save the intermediary's commission.

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