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Insurance promise

Publish date 23 April 2018
Insurance promise image

The insurer sells a promise to the insured. The validity of the contract will be proven in the future. At the moment when, after the occurrence of the risk, a payment becomes due from the insurer to the insured, the latter are probably upset or in shock from the case itself (theft, accident, storm or other disaster). In cases where the contract is for life insurance and the insured has died, his relatives may be much sadder than death than relieved to receive payment under the policy. On the other hand, if the insurer has some reason to doubt the veracity of the claim and delays payment while an investigation is underway, it is quite possible that the insured may be angry (due to an unfair accusation or fear of being accused of unfounded or exaggerated claim). . In either case, the insured are unlikely to be in an ideal mood when the insurance contract leads to a claim. In any period without pending damages, the insured has protection and he believes that he pays for it. At each stage of the sale and during the term of the insurance contract, the client must have the feeling that he receives the appropriate coverage and the equivalent of his money, that the insurer's administration is economical but productive and that the client's interests come first.

Some contemporary authors use the term "culture" to clarify this issue in more detail. As real estate suppliers, insurers need to make sure that their customer service is customer-oriented. The best way to ensure this is to instill in the staff and regulate through appropriate procedures a culture of customer care. "The customer is not always right, but he always comes first": this is the basis of the modern customer service culture.


Source: David E. Bland "Insurance: Principles and Practice"