Ping An Auto Insurance: One-day Claims Settlement - A Moral Obligation or Just Numbers Game?
March 21, 2011 10:13 AM Source: Qianlong.com
Despite frequent doubts about the truth behind Ping An's telephone auto insurance discounts, Ping An has consistently avoided a direct response. Starting from March 9th, Ping An continued to publicly promise that for claims under 10,000 yuan with complete documentation, compensation would be settled within one day. However, industry experts pointed out that the speed of payment disbursement does not equate to the speed of claims processing. Ping An's commitment is suspected of dodging the key issues.
Liu Zhenguo, a party involved in a Ping An auto insurance case in Jiangsu who frequently suffered from claim delays lasting nearly a hundred days, angrily criticized being "fooled by Ge You." Tencent netizen "Wo Shi Feng" also commented: "Ping An? Besides Ge You, everything else is fake!"
Ping An's Commitment: Claims Settled Within One Day for Cases Under 10,000 Yuan with Complete Documentation
Since March 1st, when lawyers began openly questioning the truth behind Ping An's telephone auto insurance discounts, Ping An maintained silence. But starting from March 9th, Ping An continued to publicly commit that for cases under 10,000 yuan with complete documentation, compensation would be settled within one day. At the same time, they frequently highlighted that in 2011, Ping An's telephone auto insurance would optimize basic services while continuously providing high-value-added characteristic value-added services for car owners.
According to public records, on March 24, 2009, Ping An Auto Insurance launched a social service commitment of "claims under 10,000 yuan, with complete documentation, settled within three days," announcing nationwide that for cases with compensation amounts under 10,000 yuan, if the customer submits valid and complete claim documentation, they would guarantee to complete case approval and notify of payment within three working days. On February 2, 2010, Ping An committed to "one-day settlement."
Industry Expert: Compensation Speed Does Not Equal Claims Processing Speed
Insurance industry insider Jiang Hao analyzed Ping An Auto Insurance's compensation commitment as follows: compensation is the last step in the auto insurance claims process. The true factors influencing claims processing speed include on-site investigation, damage assessment, data collection, claims calculation, and the insurance company's claims approval process. Therefore, the speed of compensation cannot represent an insurance company's overall claims processing speed; rather, the speed of "complete documentation" and claims approval processes best reflect how fast or slow an insurance company is in handling claims.
Jiang Hao pointed out that at some provincial government agency vehicle insurance bidding sessions, some insurance companies had already stopped using "one day" to express their compensation speed commitments several years ago, opting instead for terms like "instantaneous." However, relevant departments paid more attention to the speed and support capabilities of insurance companies in other claims processing stages, including prepayment of compensation measures. Industry professionals are well aware that compensation speed does not equal claims processing speed.
Party Involved Criticizes Ping An: "I Was Fooled by Ge You"
Liu Zhenguo from Jiangsu reported to Century Insurance Network: On the evening of November 16, 2009, I was hit by a car driven by Zhang. After being discharged from the hospital, my injury was assessed as a sixth-level disability. In June 2010, I entrusted an agent to file a lawsuit with the Xingren Court of Tongzhou District. On November 30, 2010, the court mediated an agreement confirming that the Rudong branch of Ping An Property Insurance Co., Ltd. would pay me a lump sum of 172,928 yuan before December 30, 2010.
Liu Zhenguo said: "I originally thought Ping An would settle the claim quickly as advertised by Ge You, but unexpectedly, we did not receive the compensation by December 30, 2010." In January this year, after contacting Ping An Insurance multiple times, the response was always "under negotiation." Liu Guang, Liu Zhenguo's son-in-law, said: "It wasn't until early March that we finally received the compensation."
Liu Guang told Century Insurance Network: "Although I have just received my compensation, I am wondering where Ping An's integrity is? Where is their awareness of simplifying procedures and serving the people? Is the 'quick claims' slogan in Ge You's advertisement really true?"
(Edited by Hua Qingjian)
Source: Qianlong.com