All insurance companies claim to be the best. A number of advantages were stated by the insurance company to convince many people. It could be that what was said was different from everyone’s view.
Actually, the good performance insurance criteria can be known from a number of benchmarks commonly used to rank the performance of insurance companies. That’s where a list of well-performing insurance companies is arranged.
According to InfoBank’s assessment of InfoBank’s Version 123 Insurance, the following are 10 assessment criteria for insurance companies that are categorized as performing well.
Risk Based Capital (RBC) is used to measure how secure financial insurance companies are or how healthy insurance companies are. Healthy or ill financial condition of the insurance company is reflected in the size of the RBC ratio. A healthy insurance company is usually a large RBC ratio.
How capable an insurance company is to manage finances well and how capable it is to fulfill obligations such as debt depends on the liquidity ratio. The high liquidity ratio indicates that the financial condition is in good condition.
Guarantee Fund is an insurance company asset that is used as the last guarantee in order to protect the interests of policyholders, insured, or participants. Regarding this Guarantee Fund, there are rules regarding the Financial Health of Insurance Companies and Reinsurance Companies.
Used to determine the company’s ability to pay its obligations to policyholders in the long term. The 100{84e52a0ba2a481692e464097d9556e4c582bbfd762ea1b96f28fb33a8ba315be} figure becomes a benchmark for knowing technical investment / reserves plus claims debt. The same as or more than 100{84e52a0ba2a481692e464097d9556e4c582bbfd762ea1b96f28fb33a8ba315be} includes the best category.
The extent to which the insurance company’s efficiency can be known from the insurance company’s fixed assets. No more than 25{84e52a0ba2a481692e464097d9556e4c582bbfd762ea1b96f28fb33a8ba315be} is the best number for a well-performing insurance company.
To find out the company’s ability to maximize premiums, find out how the insurance company’s gross premium changes. If the insurance company gets a value of 33{84e52a0ba2a481692e464097d9556e4c582bbfd762ea1b96f28fb33a8ba315be} or more, the insurance company is categorized as the best insurance company.
What is the strength of your own capital against your own dependents in insurance companies? Less or equal to 300{84e52a0ba2a481692e464097d9556e4c582bbfd762ea1b96f28fb33a8ba315be} is the standard of the best insurance company.
Find out whether the net investment income to the investment average is equal to or greater than the average investment interest rate or not. If it’s equal or greater, that means that the insurance company is one of the best insurance companies.
To find a well-performing insurance company, this one ratio must be equal to or less than 100{84e52a0ba2a481692e464097d9556e4c582bbfd762ea1b96f28fb33a8ba315be}.
Used to measure the ability of own capital to make a … Read More...