Play your cards right when purchasing online insurance
Insurers are in a tight race to ensure that they remain ahead of the ever-changing technological trends by offering customers efficient digital products and services. On the other hand, choices can be overwhelming especially as new digital insurers continue to emerge in the market. Here are two top tips for purchasing digital insurance:
Look for insurers that are transparent
Before purchasing insurance products, you should understand your protection needs and familiarise yourself with the product options available. Digital platforms should provide insurance product details such as coverage, sum insured and exclusions in a user-friendly way, whilst making the customer journey easy and accessible.
The devil is in the detail. A customer-led insurer should be transparent with its fees and charges, disclosing them through simple quotation functions that allows you to compare and choose different plans depending on the insurance premiums and coverage that suit you. An instant quotation service is a good example as it allows you to see all available products, coverage and premium options at a glance. Don’t forget to make use of this function to calculate insurance premiums based on designated sums insured to get some foresight on how much you’ll have to pay and what you’ll get back.
A reputable insurer should be able to offer quotations, plan selection, purchasing and payment all in one go – with a policy issuance process that can be completed and effective in no more than 30 minutes. Some insurers go the extra mile by offering instant online customer support in addition to the 24/7 online insurance purchase service, so that you can get assistance as you need.
Know the claims process before you purchase
In Hong Kong, the time spent on processing medical claims can range from days to weeks. As technology becomes increasingly integrated into our daily lives, insurers are duty-bound to innovate their digital offerings to speed up the claim payment process.
You can look for insurers that offer instant claims services via mobile apps, using AI assessment engines that help customers receive reimbursement in as fast as within seconds. Apart from instant claims, you should also pay attention to how insurers will pay your claims and choose one that provides convenient and diverse options (e.g. FPS, PPS, convenience stores as well as direct bank transfers to name a few).
In addition to fast approvals and convenient pay outs, personalisation is another element to consider. You should check whether the insurer provides personalised claims support. Claims ambassadors play a key part in improving the customer experience as they can provide tailored claims support to help you expedite the claims processes especially for more complicated cases.
The choice is yours!
As the insurance industry evolves, you’ll come across more digital insurance choices. Before making a decision, it’s important to take the company’s scale and track record into consideration, as these factors determine how likely you’re to get prompt and professional follow-up on purchases and claims. Digitalisation is the new normal, so buying insurance should be simpler, faster and smoother than ever before!
-- Contact us at [email protected]
-
Covidiocy Neville Sarony
It really is time for the adults to impose some basic common sense in the kindergarten that poses for a government. Where in the world would you have a major institution run by the inhabitants of the
-
Enriching local talent pool key to innovation Dr. Winnie Tang
To make Hong Kong an innovation hub, the government has invested more than $130 billion. In addition, in this year’s Policy Address, the Chief Executive also mentioned the annual quota of the Quality
-
Will TVB ever return to its glory days? Ben Kwok
A Chinese proverb said, “Thirty years on the east bank of the river, and thirty years on the west bank of the river”, meaning things are constantly changing and over the long run, it's almost certain
-
Fight against doxxing in Hong Kong, mainland China and Singapore Daniel Tang, Amarjit Kaur
In the wake of rampant doxxing incidents in recent years, the Hong Kong government made key revisions to the data privacy regime, criminalizing the unauthorized disclosure of damaging personal data,
-
Diversifying talents to help HK thrive as a financial hub Amy Liu Mei Heung
Our world, amid the pandemic, is fraught with economic uncertainty, but our technology is advancing at an unprecedented pace. To secure Hong Kong’s status as an international financial centre, we
