Sunday, August 10, 2008

Joke: that's not covered

A client calls up his insurance agent and tells him he needs to file a claim.
Agent: “Tell me what happened?”
Client: "This is how it happens ....."
Agent: "I’m sorry but that’s not covered.”
Client: “Well, let me explain better what happened.”
Agent: “I´m sorry but that´s not covered either.”
Client: "I´ll tell you what, you tell me what´s covered and I´ll tell you how it happened!”

Encourage people to use public transport

I find public transport to be quite convenient. But there are ways to improve our bus and train services, so that more people can take public transport. Top priority is an improved feeder service, such as the system used in Hong Kong.

More ideas can be found in:

http://www.singaporepublictransport.blogspot.com/
http://www.tankinlian.com/articles/transport.html
http://www.tankinlian.com/articles/express.html

Regulate selling

It is important to regulate “selling”.

If salesman goes around to sell products, they are likely to make the sale by misleading the customer. The regulation of selling should include the following:

1. The product is inherently fair to consumers (e.g. the manufacturer cannot make false claims)

2. Suitable information is provided to the customer (i.e. the information has to be verified by an expert)

3. The selling process has to meet standards of good conduct.

If the other conditions are not met, the selling should be considered as “touting” and the product should be suspected to be bad for consumers.

Present partial information only

I met a property agent. He was taught to adopt the following approach:

> present the postive aspects of the property to be sold
> tell the negative aspects, only if the buyer ask about them

If the buyer does not ask, then the negative aspect is not disclosed. This is what "professional ethics" is being taught. I consider this approach to be dishonest.

Motor accident reports

The General Insurance Association implemented a new framework to handle motor accidents from 1 July 2008. During the past two months, a total of 33,100 accidents were reported, representing an increase of 35% over the same period last year.

Derek Teo, President of GIA, claimed that the new framework is a success. I wonder how the insurance companies are able to bring down the claim cost, when the number of insurance claims has increased.

I remembered that the framework included roadside assessment by the assessors sent by the insurance company. I wonder if this new measure has been implemented, as it is a major strategy in the new framework to avoid inflated claims.

Happy National Day

Read my wishes for the future in:

http://theonlinecitizen.com/2008/08/we-the-citizens/#comments