Accident-free through the fine print
Which benefits are insured? What is considered an accident and which exclusions of benefits lurk in the fine print? The complexity of accident insurance not only fails consumers. The experts are also having a hard time checking the products available on the market for their actual performance and making a well-founded comparison. Excessive variety of offers and deliberately induced intransparency.
We will tell you today how we proceed to make the quality of accident insurance visible to the consumer, as our analysts develop performance criteria based on their own research.
Each performance criterion comes individually to the test. The analytics team develops a true, customer-driven performance weighting.
How does a criterion emerge in our department “Accident”?
We distinguish between main criteria and detailed criteria. The main criteria divide the evaluation into related types of benefits. The services of a condition are then further differentiated in the detail criteria and evaluated accordingly.
Step by step to the criterion
- We review the regulations of the products offered on the market for a specific service and summarize the same performance characteristics. IMPORTANT: We read and interpret the complete small dachshund itself! We do not ask the insurer for his performance statement, but we strictly adhere to what is stated in the terms.
- Based on the existing performance characteristics from the different products, we define the core performance of the new criterion.
- We investigate and discuss what kind of performance is necessary for a comprehensive coverage in this area and define this as a “model” of the criterion with the aid of a 100-point rule.
- Then we define point markdowns and tee-off heights for rules that do not meet the performance model.
- For the same performance characteristics combined in step 1, we formulate understandable short texts as a translation of the often complex conditional work. Based on the defined deductions we assign the corresponding scores.
- Then we compose an info text for the criterion. In addition to the mission statement, this contains all important information about the examination facts.
- If the regulations to be checked in the criterion are an important feature of the type of insurance, we work out whether and in what form (protection / top protection, weighting) the ratings must be included in the rating. If necessary, a minimum standard for the criterion is additionally defined.
- Finally, we check the new criterion again to see whether the info text and the short texts are understandable, the ratings for the individual regulations on the market were set correctly and the set scores are also the quality differences in performance levels justice.
The 100-point rule in the example illustrates how we award the points for the conditions. As you can see, the scoring system works the same way in Flensburg: “Insolvency rules” of insurers are punished with deduction of points. Now you know how we “drive” accident-free through the fine print for years