WHEN we think of insurance,
we tend to visualise a man with a friendly face
holding an umbrella out to us when it starts to rain.
That is the result of successful marketing.
In reality, when the crunch comes,
how many insurance companies can truly claim to be such a 'friend'?
Isn't it more a case of wait until you are drenched
before deciding to hold the umbrella out to you,
by which time the downpour has probably eased off
and you have caught pneumonia?
Take my experience with NTUC Income. I bought..
holding an umbrella out to us when it starts to rain.
That is the result of successful marketing.
In reality, when the crunch comes,
how many insurance companies can truly claim to be such a 'friend'?
Isn't it more a case of wait until you are drenched
before deciding to hold the umbrella out to you,
by which time the downpour has probably eased off
and you have caught pneumonia?
Take my experience with NTUC Income. I bought..
REX comments as follows,
ReplyDeleteit is sad to read this story in the digital straits times.
it is sadder to know that, it is this very same insurance company which has an advertising strategy saying that they are made to be different, that they treat customers as "Boss" and cares for them in special ways.
Hypocrisy is the worst form of sin in my opinion. It would have been less infuriating if this said company didn't advertise on that strategy mentioned above. I might have accepted the news in this article slightly better; after all in this world, who (except one's parents and close friends) would be so caring for anyone if not for monetary gain.
Now i guess the only thing to do to salvage the situation is firstly to have the CEO come out and make a radical declaration that shakes up the whole company. And probably, some heads need to roll. No cover ups. WE the consumers, ARE THE BOSS, remember. The Boss decides.
rex
In the first place, does Enhanced IncomeShield Plan or for that matter, the private Shield Plans available in our local market, cover hospitalisation & surgical bills incurred overseas?
ReplyDeleteHappened to me before with Manulife.
ReplyDeleteThey were extremely warm to you during the insurance application, and turned cold heartless during insurance claim.
-OTB-
So now, do you believe when they say 'people before profit'?
ReplyDeleteREX, in a screwed up, the CEO's head should roll. In fact the first consultation is a top down guidelines and about the CEO being responsible for anything that happens below.
And their tagline " made different" comes alive in this case....they are different from what they about themselves. It is big bullshit, dishonesty is their best policy.
There are many cheap ways to call overseas. If an urgent request is denied because of such cost, i.e. $1/10 minutes during peak hours if using '1516', for example, I can only conclude that the business has put customer service the least important.
ReplyDeleteMy experience with HSBC, a bank staff will not hesitate to call customer even he is overseas to provide simple reply or clarification without being requested.
They are chameleon charlatans with biforked tongue. When they say people before profit what they really mean is people is equal profit.Isn't it so? Without people there is no profit.
ReplyDeleteTheir DNA is a mutated value of the cooperative.
I once worked for NTUC Income as data entry for a short period of time. There was a case whereby I happened to overheard once that the executive was raising her voice with a claimant on his or his family member insurance claims. Very unprofessional. When you client is upset, you are suppose to provide support not unleash your wrath onto them.
ReplyDeleteShow me how they are paid and I will show you how they behave.
ReplyDeleteIt's incredible that insurance companies can forget that they are actually in the people business.
Parka,
ReplyDeletethe one and only one goal in business is profit. People who think otherwise must be daft.
only charity organisations do not care about profit.......now wait a minute, I am not so sure about this statement anymore also these days.
Reply to 11:36 AM
ReplyDeleteBusinesses should make profit in the honest way. They owe a duty to the consumers to honor their obligation and to treat consumers fairly. We cannot allow them to get away with bad treatment of customers, in the drive for profits.
As consumers, we must be prepared to speak out and use the media and other channels to voice our views and fight for consumer rights.
Thin line between FRIEND and FIEND when corporates are involved.
ReplyDeleteEmployees of corporates these days do not believe in trust and good business relationship (guanxi).
Trying to make fast money, hiding behind the corporate veil and also escaping from corporate social responsibility is quite a norm.
This is bad culture.
Rex comments on anon 8.05 am post:
ReplyDeleteIt doesnt matter if xxx. plan covers or not covers overseas hospitalisation, dear.
The agent attending to the customer should be fairly familiar with the product covered, since it is in no way a new product to my knowledge. As basic courtesy, the agent ought to have said, "sorry madam the xxx plan probably don't cover overseas cases" or else "sorry sir i need to check whether your plan covers overseas cases".
Unless the writer of the post is trying to malign (which i dont think so, since Digital Straits Times is still SPH and the writer will have to use real name and address not anonymous), then the conclusion is very clear, that the company named, treats its customer like shxx, and its agents are so stingy that they are not willing to pay $5 for overseas call to Hongkong (maybe afraid "cannot claim"), and the agents, neither the CEO show any actions that they treat the customer as BOSS.
I agree with the other poster that CEO should be responsible and be sacked promptly, he is the one who dreamed of the idea "the customer is Boss". It is not acceptable that the small fry's head roll alone.
Remember Mas Selamat incident too.
Many things in Singapore are screwed up, and the worst is that mistakes are forgiven under the formula "lets' move on", so long as same belong to a certain mindset and class.
REX
The saying "Never put all your eggs in 1 basket" is totally true!
ReplyDeleteSpread your investments whether Insurance / Annuties / Unit Trusts etc.
I've NTUC Incomeshield / Aviva /
Asia Life / Prudential.
Then watch the fun when it comes to delivery.
I remembered 2 yrs ago, a well known insurance company offered
ReplyDeleteme free financial health checks worth $240/-FOC.
Appointments were made with free breadfast thrown, in after getting all my financial data on investments to the very latest infos. todate.
The following 2wks.for the results of my portolios,whether overweight in some sectors or otherwise and again followed by another round of free breakfast.
The underline factor, was to entice me to buy some of their financial products! which I ignored, that make my day on the 2 FreeBreakfasts as the saying "NOTHING IS FREE" make hay whilst the sunshine!
They must now re-examine their DNA under the microscope . No point mutate externally. No point having a new color, new title, a new facade, new slogan, new tagline when the bagages of glib tongue salesman still not ridden off.
ReplyDeleteThe consumers are not dumb and can see through the new make up. Beneath the new skins lurks the old incompetent product pushing snakeoil salesmen and women.
The social enterprise is NOT a cooperative.Cannot even bluff my 3 year old son.
Should watch THE PREDATORS MOVIE coming to our cinemas soon.
ReplyDeleteBeneath the facade of new tagline, new slogan and new color and title of financial CONsultants lies the predatory koyok salesmen. This is the their DNA made differently albeit externally.
I treat all Financial Sales personnel as nothing but selling wide range of koyoks, snakeoils.
ReplyDeleteWhy?Because I invested in some
ILP (Insurance Link Products)during it's debut and quess what?......Kena Burnt!
1st-ly the ntuc executive not professional enough. He/she sounded like just want to siam the "problem", don't want to take ownership and seems also not empowered by the mgmt. Somemore, that executive promised to call back and email; also never did. Come on, send email also don't want. So it tells me this feller just switch-off after putting the phone down, go coffee break and count-down to knock-off time.
ReplyDelete2nd-ly, the request is relatively straightforward and the executive cannot answer within the initial phonecall by customer.
Fact 1: Private Shield plans allow "coverage" for overseas hospitalisation and medical procedures. BUT must be due to accident and/or sudden medical emergency.
Fact 2: This is crucial --- the nature or cause of the overseas hospitalisation must NOT be something that is excluded. For e.g. if someone has pre-existing heart problems and excluded in his Shield plan, and he kenna heart attack go hospital in HK, he cannot claim.
Fact 3: If pass the above 2 criteria, then the bill will be based on the typical bill in LOCAL hospital for same medical problem. So if you got only B1-Class plan, then the insurance company will base on what B1 Ward in Singapore hospital will charge. And also subject to deductible and 10% co-payment.
Fact 4: For private Shield plans, customer needs to pay all overseas medical treatment first, before compiling the bills and submit in Singapore for claims.
The executive will have immediate online access to ntuc incomeshield database to provide pertinent info --- any excluded medical conditions, what is the plan coverage, any riders, available annual limit left for claims.
From the post in ST Forum, sounds like the mother already has history of heart problem -- heart valve replacement. Enhanced Incomeshield Preferred Plan not very long in the market, maybe 3-4 years. Quite likely that the mother already had heart problems when bought this EI-P. If so, then the agent not very correct in recommending this more expensive plan due to exclusion. And with her age, high chance it will be due to heart problem then will do hospital, as what actually has happened.
If really excluded, ntuc has legal right to pay $0.00 in claims. So you think kenna con or not?
Oh, just for history sake. Ntuc used to have worldwide medical insurance (not travel insurance). You can even select whether to include US/Canada (more expensive) or to include Singapore. Just like travel insurance, this worldwide medical also tie-up with reputable emergency organisations e.g. SOS International, who will guarantee for you the payment and all that crap with overseas hospitals. So you don't have to cough up the $$$$ first, or at least just a small deposit.
ReplyDeleteNtuc also used to have a medical insurance that also cover both outpatient and in-patient. So you just need to pay $5 for GP visit, and $10 for A&E in govt hospitals.
Too bad all these good stuff taken off about 2-3 years ago, just when the FW took over. Up till last year, I still had people calling up to ask for these 2 insurance plans.
Imagine what some Insurance company across the causeway are resorting to as published in the the staronline today!
ReplyDelete"Sex and party for potential insurance clients"
I don't understand the negativity from the claimant and also the responses from this blog.
ReplyDeleteHospitalisation plans are always based on reimbursement. How much they reimbursed is based on how much was paid to the hospital.
All the shield plans, including Medishield, are based on reimbursement basis. In general a standard shield plan don't cover overseas or worldwide treatment. This is the basis of all shield plans. Furthermore this claimant's mother may not be an emergency case.
If this is not a pre-existing condition, a travel insurance would be sufficient to cover this heart condition.
Mr. Tan, you disappoint me. You of all people should say a fair word instead of putting down the insurer. Even during your time, the incomeshield plan A / B already don't cover worldwide treatment. It is standard practice. If people want worldwide cover, they would have to pay more.
The response of this blog is such that people has been so brainwashed against insurers, that just one story from a claimant who assumed a lot of things and obviously doesn't have a clue what he bought, is enough to start the insurer/insurance agent bashing. Instead of having an open mind, this blog thinks the whole insurance industry is working against the consumer.
Where is the objectivity that Mr. Tan claimed that he has in place?
Hi All,
ReplyDeleteI think it is only right for the chief to come out to clarify this matter.I hope that any insurance agent under this big insurance company must highlight the pride of this man to their heads to address the case.Until then that the matter can see light.
ah boy
This is my reply to 6:11 PM.
ReplyDeleteYou are likely to be speaking for the management of NTUC Income, so my words are for you to carry to your management.
Apart from meeting the legitmiate claim, an insurance company is required to provide assistance to the policyholder. It is not helpful to tell the policyholder - you decide on your treatment (which can cost a lot of money) and we will tell you later whether it is eligible to be claimed.
It is not fair to put the policyholder to such a high financial risk. Many people cannot afford to pay the high bills.
Your behavior is from one who only thinks about your bottom line. But a social enterprise has to treat the customer differently from a commercial enterprise. This is a test on whether you are true to your words.
As you are anonymous, it does not matter that you are "disappointed" in me. I do not need to have the approval of people who hide in anonymity and make your type of demand.
ANON March 22, 2010 6:11 PM,
ReplyDeleteit is true that the insurance industry works against the consumers and that is why Obama was trying to address.Thank goodness he will have a sweet taste of victory soon and bitter after taste for the insurance companies.
In Singapore the odds are stacked high against the man in the street who are ignorant and gullible and have been kicked about like what ManU did to Liverfool.The insurance companies employ an army of cheats salesmen and women masqueraded as financial CONsultants to execute their plans, the plans to fleece for profit. One company shamelessly claims people before profit but truth is people are profit to them.
Ask yourself, how on earth this plan was sold to this poor woman if proper proceedural approach was used, if due diligence was conducted to find out about the woman's state of health and needs and benefit illustration was elaborately explained to her or her son. I strongly believe the agent took short cut and didn't go through the features and as a result many important things and caveats were left unexplained.
Well, conflict of interest might not have been behind this fiasco certainly incompetence was the cause of this dispute.The problem is buying from Salesmen and women who are incompetent and who disregard customers' interest.
If application and everything was correctly incepted this plan MUST pay if the hospitalization was an emergency and it is unfair to dillydally to cause undue anxiety to the policyholder.
I know no fact find or KYC is done for Incomeshield application by ntuc agents. Others do conduct fact find and their company is strict about it.
I wonder, is the social enterprise a product sales or some FMCG company, like coke, and which is exempted from the FAA and the MAS top down guidelines and the Advertising code of ethics?
REX comments on anon 6.11's post:
ReplyDeletehey pal, did you read what the complainant Anthony Chiam said:
quote - Anthony Chiam -
"NTUC Income is unable to commit on whether claims will be paid until post-fact - that is, when everything is settled and the final receipt is produced".
unquote - Anthony Chiam.
Is that fair? Would you tell a customer, your so called BOSS, "go spent first, get receipt, i will let you know later if you can get reimbursed". I have never heard of such absurd contract. It doesnt even matter whether the incident happened in Singapore or outside. Anthony Chiam's allegation if true, would mean that said company has no principles, and certainly doesnt treat customers as "boss".
I wouldn't have made any comments at all, if said company didnt brag about saying customer is BOSS. Empty talk with no proof. Hypocrisy. This is unacceptable as far as I am concerned, not the part about making profits, which every company does as sure as the sun will rise tomorrow.
rex
Mr Tan, was this modus operandi only in place after you have left NTUC income?
ReplyDeleteI think that 6:11PM has a point. All Shield plans pay claims assessed on final bills on a reimbursement basis. This applies to NTUC Income now and then, as well as all other companies.
ReplyDeleteMany Singaporeans have misconception about this as we have Medisave here. Medisave pays direct to the hospital upon final bill first. Then the bill is forwarded to the insurer to assess for claim. Through this process, the insured doesn't feel the financial pressure.
However, when hospitalised abroad, things are different. First and foremost, the hospital has to treat the patient as a foreigner not covered under any of their national schemes or subsidies.
The hospital has to demand deposits upfront and further topup along the way if the stay is prolonged. Whereas, the insurer in Singapore still has to wait for the final bill to assess whether and how much it's claimable.
Furthermore, it's unrealistic to expect client servicing to be as prompt and smooth as if the event has occured in Singapore.