Friday, October 22, 2010

Conversation with a Japanese insurance executive

I found a few interesting trends in japan that is likely to be followed in Singapore.


Transparency in insurance

SM Goh calls on insurance industry
to keep insurance protection affordable...Mr Goh said studies have suggested that Singaporeans are under-insured.
He added that the MAS would help consumers make informed decisions when buying insurance.
It will do so by working with the industry
to enhance transparency in disclosing what insurance products like a Whole Life Plan contain.
 

Regulation of Real Estate Agents

Only 6,600 applications in
as CEA comes into effect
The new statutory board set up to regulate real estate agents,
the Council for Estate Agencies (CEA), came into effect Friday.
Real estate agencies have until midnight on Friday to submit a list of their agents.
... there are about 30,000 agents in Singapore.
 

Large telephone bills

There are two letters from consumers about the large telephone bills that they received for services that they did not subscribe to, or for services that young children may incur without being aware about it. It shows the bad state of affairs in Singapore when businesses increase their profits without regard to the interest and fair treatment of consumers.
General Election Portal

Saving and inflation

A consumer that invest the savings in a life insurance policy should take account of future inflation and aim for a yield that is higher than inflation.  They should not just aim for a return of the premium, as the inflation would have reduced the value of the savings by up to 75%.


Ask Mr. Tan




Crowded in Bali

I spent 3 days in Bali. It was hot, humid and uncomfortable.
I visited Ubud on a tour yesterday. The roads were congested. I spent 6 hours on the bus travelling a short distance to Ubud and back, in slow moving traffic. It was a huge traffic jam.
My first visit to Bali was 25 years ago. It was enchanting. There were virtually no cars on the road. It was easy and fun to move around.
Bali is now too crowded.

Election buzz is in the air

Elder statesman Lee Kuan Yew may not, for the first time in 51 years,
take part in a general election - if one is called in the next six months as widely expected.
General Election Portal

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