Insurance as a risk management tool was all the rage in the past decade. However, now we find that the sales situation of insurance is not optimistic, which makes people wonder why insurance is not selling? In fact, this phenomenon may be related to the "**" of the year.
Exaggerate benefits and returns
These unscrupulous insurers exaggerate the benefits and returns of insurance, giving people the false impression that they can make high profits by investing in insurance. They often use fictional cases and exaggerated propaganda tactics to attract consumers' attention and create false investment expectations. However, when an insured event actually occurs, these insurers fail to fulfill their contracts, thus undermining consumer confidence.
Concealment of various terms
These unscrupulous insurance companies often deliberately conceal the terms and conditions in the insurance contract, so that consumers do not have enough understanding of the insurance product at the time of purchase. Some insurers deliberately use complex words and jargon to deceive consumers and make them scratch their heads when it comes to purchasing and settling claims. This lack of transparency and dishonesty has led to a distrust of the insurance industry as a whole and a reluctance to continue buying insurance.
Delay or denial of payment
When an insured accident occurs, these unscrupulous insurance companies will delay or even refuse to pay, causing great distress and frustration to consumers. They often use various reasons and sophistries to delay and depress the amount of compensation, making consumers feel unworthy and abandoned. This unfair and dishonest practice further undermines consumer confidence and makes them lose interest in insurance products.
All of these bad practices have led to reputational damage in the insurance industry and negative consumer perceptions of insurance. However, it is also important to understand that these bad insurers are an isolated phenomenon and are not representative of the insurance industry as a whole. There are indeed some regulated and honest insurance companies that provide insurance products in a truthful and transparent manner and fulfill their obligations to pay compensation according to the contract.
To reinvigorate the insurance industry, insurers and regulators need to take a range of steps to restore public confidence. First of all, insurance companies should strengthen self-discipline and improve the overall integrity of the industry. Establish more transparent, clear and understandable insurance terms to ensure that consumers understand the insurance contract at the beginning of purchase. Second, insurance companies should improve service quality and establish an efficient claims settlement mechanism to ensure fast, fair and reliable claims. At the same time, regulators should strengthen supervision and crack down on the illegal activities of non-performing insurance companies to ensure the normal operation of market order.
Consumers should also be cautious and rational when purchasing insurance. Know the specifics and terms of your insurance product and don't be fooled by exaggerated claims and false promises. Choose a reputable and stable insurance company, conduct more comparisons and research, and choose an insurance product that suits your needs. In addition, it is also important to popularize insurance awareness, so that more people can understand the role and value of insurance, and provide effective protection for themselves and their families.
All in all, the damage to the credibility of the insurance industry is closely related to the ** of the year. Through analysis**, we can better understand the dilemma of the insurance sales situation. However, the insurance industry is not a generalization, and there are still many insurance companies that operate in a regulated and honest manner. Rebuilding public confidence in insurance will require a concerted effort between insurers and regulators, and consumers should be cautious in their choice of insurance products and increase their insurance awareness. As a risk management tool, insurance still has important value and significance, and as long as we work together, we believe that the insurance industry can regain confidence and recover healthy development.