How to choose insurance? You can quickly understand the strength of the company by looking at the rankings of various insurance companies. However, I want to emphasize that it is useless to look at the premium rankings because the insurance industry is very special. High sales volume does not mean that the product is good. You can't choose based on the profit rankings of insurance companies. Don't buy products from companies with the highest profit rankings, because the profits are what you contribute after buying them.
What consumers want when choosing insurance is actually very simple. Just buy a cheap and suitable insurance product and ensure smooth claims settlement. Therefore, the ranking data that are helpful to the decision-making of purchasing insurance are: first, the ranking of claims settlement data, and the second, the ranking of solvency. Today, combining these two core indicators, the latest data of insurance company rankings, let’s talk about which insurance company is the most reliable in settling claims. .
1. Ranking of Claims Data
It is currently difficult to obtain the most comprehensive data on insurance company claims rankings in 2019. Unfortunately, there are several large companies Taiping Life , Xinhua Life , and several newer companies Fosun United, Everbright Sun Life, Huagui Life, etc. have not yet obtained the latest data. The following data is for reference only. Please forgive me if it offends
1. The top ten insurance companies with the fastest claims settlement time: ranked first is China Life Insurance, with an average claim settlement time of 0.12 days; Sunshine Life Insurance , with an average claim settlement time, is second. The time limit for claims is 0.43 days; the third place is China Life , the average claims time limit is 0.58 days; the fourth place is Love Life, the average claim time is 0.62 days; the fifth place is Changsheng Life, the average claim time is 0.95 days, and the sixth place is Pacific Life, the average claim time is 0.95 days The time limit for claims is 1.3 days; the seventh place, Tianan Life Insurance, has an average claim time limit of 1.33 days; the eighth place, Evergrande Life Insurance, Jixiang Life Insurance, is tied, with an average claim time limit of 1.4 days, and the tenth place, China Life Insurance, has an average claim time limit of 1.49 days.
Note: The table shows the claims data for the first half of 2019. Among them, Ping An Life , Taikang Life and other companies have not yet obtained the latest claims aging data.
Preferred Insurance Comments: In the latest insurance company claims ranking data obtained by
, Great Wall Life ranks last in terms of claims settlement time, which is 2.38 days. However, this does not mean that Great Wall Life’s claims settlement is very slow, and it is only 2.38 days. Just imagine, you bought insurance and applied for a claim after the accident. The insurance company paid you the compensation in less than 3 days. This time efficiency is completely acceptable. As someone who worked as a claims adjuster when I entered the industry, I am really impressed by the speed of development of the insurance industry. I recall that when I was in charge of claims settlement for an insurance company branch more than ten years ago, a lot of claims were delayed for several months. The reason was also due to consumer issues, because there were indeed many insurance fraudsters who got sick first. , and then buy insurance. However, the reason why a large number of claims were delayed for so long was ultimately due to the lack of strict supervision at that time, and there were not too many specific requirements for the insurance company's claim settlement time limit. In short, after seeing this insurance company’s claim settlement timeliness ranking, don’t question the claims settlement ability of any company. It’s not about how strong they are, but because they all have a common background—the China Banking and Insurance Regulatory Commission, which is under strict supervision at present. Under such circumstances, consumers’ rights cannot tolerate any uncertainty.
2. The top ten insurance companies with the largest cumulative claims amount: ranked first is China Life , with a claim amount of 22.2 billion; second place is Ping An Life, with a claim amount of 15.7 billion; third is Pacific Life, with a claim amount of 7.8 billion ; The fourth place is Taikang Life, with a claim amount of 2.4 billion; the fifth place is China Life Insurance, with a claim amount of 1.85 billion; the sixth place is CITIC Prudential Life, with a claim amount of 1.46 billion; the seventh place is Sunshine Life, with a claim amount of 1.18 billion; the eighth place is Fude Life Insurance , with a claim amount of 1.059 billion, Tianan Life, ninth, with a claim amount of 735 million; Sino-British Life, which ranked tenth, with a claim amount of 401 million.
Preferred Insurance Comments:
The insurance companies with the highest claim settlement amounts are naturally the companies with the highest sales of health insurance and life insurance products. The rankings do not represent the quality of the company's products, but are only displayed so that consumers can understand the specific data. Understand that today’s insurance companies truly provide protection to consumers.
2. Solvency ranking
Solvency adequacy ratio data are currently only for the first quarter of 2019, and the data of all life insurance companies and health insurance companies are complete. For a detailed introduction to the solvency adequacy ratio, interested friends can click to read the previous article: Insurance company solvency ranking in the first quarter of 2019, purchasing decisions based on
1, solvency adequacy ratio insurance company rankings in the top ten: ranking The first is Three Gorges Life, with a solvency adequacy ratio of 2,516%; the second is Guofu Life, with a solvency adequacy ratio of 1,710%; the third is Beijing Life, with a solvency adequacy ratio of 1,593%; the fourth is Ruihua Health, with a solvency adequacy ratio of 1,333 %; fifth place Guobao Life, with a solvency adequacy ratio of 1,151%; sixth place, Love Life, with a solvency adequacy ratio of 1,004%; seventh place, Huahui Life, with a solvency adequacy ratio of 933%, and eighth place, Shin Kong HNA Life, with a solvency adequacy ratio of 1,004% The capacity adequacy ratio is 605%; the ninth-place Hetai Life has a solvency adequacy ratio of 462%; the tenth-place AIA Life has a solvency adequacy ratio of 453%
Preferred Insurance Comments:
The solvency adequacy ratio is the core regulatory indicator of our country’s regulatory system. For consumers, looking at the rankings of multiple insurance companies, the solvency ranking has a certain reference value for product selection. For example, if a company's solvency is particularly sufficient, do you think it will refuse to compensate you for no reason? If a claim occurs, the actual scene that should happen is actually this:
You just called to report a claim, and the insurance company immediately sent someone to the hospital to visit and express condolences, maybe even holding flowers, and after exchanging pleasantries, they helped you. Collect the claim information, and immediately start the "quick processing and quick compensation" mechanism when you return to the company. Your claim payment may be received within three days. Then someone from the insurance company will call you, continue to greet you, be affectionate, and return to see if you are satisfied with the claim service. If you are satisfied (nonsense, you must be satisfied), it means that the company really hopes that you can send a banner. Of course, the production and content of the banner have been prepared for you, and they are just waiting for you to hold the banner and take a photo with a certain leader of the insurance company. Finally, the insurance company wrote a press release with the title: A friend in need is a friend indeed, and XX Insurance Company completed the claim settlement of XX million yuan within two days.
2. The bottom ten insurance companies with solvency adequacy ratio : The last one is Sino-French Life, with a solvency adequacy ratio of -8469%; the second to last Junkang Life, with a solvency adequacy ratio of 121.18%; the third from the bottom Centennial Life, with a solvency adequacy ratio of 121.82%; Fude Life, the fourth from the bottom, with a solvency adequacy ratio of 122%; Evergrande Life, the fifth from the bottom, with a solvency adequacy ratio of 126.6%; Hongkang Life, the sixth from the bottom, with a solvency ratio of 126.6%. The adequacy ratio is 126.8%; China Life, the seventh from the bottom, has a solvency adequacy ratio of 128.7%; Shanghai Life, the eighth from the bottom, has a solvency adequacy ratio of 130%; Pearl River Life, the ninth from the bottom, has a solvency adequacy ratio of 131.2%; and the tenth from the bottom Kunlun Health is famous for its solvency adequacy ratio of 131.9%
2019 Insurance Company Rankings with Worst Solvency Ranking
Preferred Insurance Comments:
Solvency Adequacy Ratio These companies are ranked the lowest, but it does not mean that the insurance products of these companies cannot be purchased, or that they cannot be purchased. What are the risks. In fact, the solvency indicator only makes consumers look reassured or uneasy. Companies with high solvency rankings will tend to choose compensation when handling certain controversial claims cases.
3. Which insurance company is the most reliable in settling claims?
All insurance companies have no problem settling claims. Even if the company has negative solvency, you don’t have to worry at all. There is still a national insurance fund to cover the costs. But what if a disputed claim occurs? Will something disturbing happen? Combining the above claims rankings and solvency rankings of insurance companies, let’s talk about the preferences for handling claims disputes, that is, which companies to buy insurance from, and which claims services will be more beneficial to consumers.
1. Examples of controversial claims:
For example, the insured bought a medical insurance. Before buying the insurance, he was hospitalized for chronic gastritis. Half a year after buying the insurance, he was hospitalized for chronic gastritis and applied for a claim. This kind of The insurance company was justified in denying the claim because the past medical history was concealed when applying for insurance. But if the insurance company chooses to pay compensation, it makes sense, because chronic gastritis is not a serious disease, and most people may have a little bit of this problem. Maybe the insured did not deliberately conceal it when taking out the insurance, and thought it was a trivial matter. . If this kind of claim happens to an insurance company with a high solvency ranking, then 99% of the time the claim will be paid. However, it cannot be said that insurance companies with lower solvency rankings will definitely not make losses. For example, Junkang Life Insurance, which is second to last, certainly does not want negative reports of refusing to pay compensation. In order to increase its premiums in the future, it should also Will pay for such disputed claims.
2. Claim settlement dispute handling preferences:
Through several data analyzes of the 2019 insurance company rankings in this article, then, for disputed claims, which company has a greater chance of rejecting the claim? Based on past experience, I think it is large, established companies such as Ping An, China Life, and Pacific. Because they refuse to compensate you alone, the company's brand effect will not be affected in any way, and the company's future performance will not be reduced because of you. In case of disputed claims, which company is more likely to choose to pay? I think there are two types of companies. One is the insurance company with the highest solvency adequacy ratio. The specific reasons are introduced above. The other is foreign-funded insurance company . I can’t reveal too much about this. Think about it for yourself. Which foreign-funded company in all walks of life dares to despise China’s regulatory policies in China? Dare to ignore the risk of public opinion? Which foreign insurance company dares to refuse compensation unreasonably? If you call the 12378 hotline to complain, it will scare their executives so much that they can't sleep. Of course, foreign-funded insurance companies will refuse compensation in some cases. This must be a 100% guarantee of malicious fraud, and a complete chain of evidence has been formed.
4. Final summary
The above has read the claims timeliness ranking and solvency ranking in the 2019 insurance company rankings, as well as the combined analysis of claims preference issues. This information can be helpful to choose insurance, but you cannot just look at a certain insurance company. point, but should be combined with a comprehensive analysis. It can only be said that it is really difficult for ordinary consumers to choose the right insurance nowadays. I will write this article here for the time being, hoping it can be helpful to you. If you have questions related to claims, you can also follow the preferred insurance official account to consult us.
