The true test of an insurer comes when you need to make a claim, says Chris Hind.
The most important requirement is that the process be fast and fair, the general manager of JN General Insurance Company (JNGI) said. He was addressing the second JN Round Table Talk session, held at the JNGI main office in Downtown Kingston recently.
“Whether it is after an event like Hurricane Sandy or after a straightforward car accident, we will be there for our customers,” Mr. Hind said. This is done through the 24-hour JNGI Mobile Claims Service, available free of cost to anyone with a JNGI insurance policy who needs to file a claim.
“We have invested significantly in being able to serve our customers in their time of need,” he stated. That is why, “JNGI is the only company which offers a mobile claims service.”
The service speeds claims settlement and ensures that after an unfortunate accident, “you no longer have to spend your lunch time going to and from your insurance company,” he said, adding that it is offered through JNGI’s fellow JN Group member, the Jamaica Automobile Association.
It was that collaboration which allowed JNGI to contact each of its homeowner customers after hurricane Sandy, to find out if they had suffered damage. Mobile Claims Service teams were then dispatched to those that were in need.
He told the JN Group team members gathered in the JNGI boardroom for the JN Round Table Talk that another key element in effective claims settlement is the requirement that the insurer should have the financial strength to play claims whatever the situation.
“We carefully assess our exposure to catastrophes and make sure we have enough capital as well as the right reinsurance support to ensure that our service can be maintained,” he declared. That was the reason the company commissioned the development of an earthquake simulation exercise by the Mona GeoInformatics Institute and The Earthquake Unit at The University of the West Indies.
This was the first local earthquake risk assessment model developed for use in the insurance sector and helped JNGI determine its appropriate reinsurance requirements. It was also used to help inform customers about their earthquake risk exposure.
“If you are making a claim on your insurance after something bad has happened; that is the critical time when you need your insurer to be there for you,” he stated. “We have ensured that we will be there to provide the needed support.”