SUBSCRIBERS
More insurers to launch claims-based pricing for Integrated Shield riders
Published Sun, Mar 28, 2021 · 09:50 PM
Singapore
MORE insurers are launching claims-based pricing for Integrated Shield (IP) riders, in an effort to shore up their underwriting results and eventually dampen future premium hikes.
Claims-based pricing is similar to the practice of no-claim discounts in motor insurance, where motorists enjoy a discount on their car insurance renewal as long as they do not make claims.
Copyright SPH Media. All rights reserved.