Life Insurance Association of Singapore (LIA) has recently released statistics for the insurance industry in Singapore for the first quarter of year 2011. Such reports are published every three months and I always find myself eager to read and learn about the industry numerically.
I usually skip past most of the sales figures though. It’s usually the same thing: industry does well, lots of insurance policies are sold, and more people are getting insured – or so it seems. Sales has never been a good indication of how well Singaporeans are insured. In fact, a high sales figure may well mean that Singaporeans are buying overpriced policies that leaves them under-insured.
The most interesting statistic I look out for is under the section of Distribution Channels. People who have been following my blog will know that I have strong thoughts about the way financial products like insurance are sold and ...... Life Insurance Association of Singapore (LIA) has recently released statistics for the insurance industry in Singapore for the first quarter of year 2011. Such reports are published every three months and I always find myself eager to read and learn about the industry numerically.
I usually skip past most of the sales figures though. It’s usually the same thing: industry does well, lots of insurance policies are sold, and more people are getting insured – or so it seems. Sales has never been a good indication of how well Singaporeans are insured. In fact, a high sales figure may well mean that Singaporeans are buying overpriced policies that leaves them under-insured.
The most interesting statistic I look out for is under the section of Distribution Channels. People who have been following my blog will know that I have strong thoughts about the way financial products like insurance are sold and ......
