Wednesday, July 09, 2008

People will buy insurance

Hi Mr. Tan,


I stumbled on your blog a few months back while searching for financial blogs and have since been a regular reader. It has been very interesting to know about your views since I am also involved in the industry.


I agree with your view that 'People will buy insurance', especially so as the public gets more educated and financial savvy. Technology provides a easily accessible platform for consumers to compare insurance products. I am looking forward to more insurance insights on your blog.
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1 comment:

zhummmeng said...

If you mean people walk into an insurance shop and buy off the shelf? Not possible..
We are still far off.No matter how savvy consumers may think of themselves I think they are not ready yet without the help of an adviser.The adviser i have in mind is a professional with an appropriate qualifications like CFP, honest and one who puts the interest of the client first.He charges a fee for the advisory work or plan and he does not implement the products.
The consumer then goes into a shop which carries all the insurers' products and buys over the counter with a prescription by the financial planner.The planner is responsible for what is recommended in the prescription chit. The products are sold over the counter with a steep discount,eg. a discount of 1 year premiun? to encourage consumers to seek financial planners first. These shops serve only clients of planners only and work with planners with accredited qualifications and not with tom dick or harry or jane or mary.
If customers choose to buy from insurance agents, it is their business.

July 10, 2008 12:26 AM

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