UPDATED: All Things Insurance: Answers to your Top FAQ’s

Like most insurance firms, the call center at HNB Assurance has a lot of questions. Sometimes, the same questions are asked often, such as “What is My Pension?”. We had a chat with our call center team/head of call center dept and have compiled your Frequently Asked Questions and decided to answer them for your convenience.

Updated: March 30th, 2015

Q: What’s your hotline/contact number for HNB Assurance & HNB General Insurance?

A: Since the Insurance industry  split from Jan 1st 2015, all our Life Insurance solutions are under HNB Assurance. You can call the number for HNB Assurance, which is 0114-384-384 for all your life insurance needs. On the other hand, call the HNB General Insurance number on 0114-883-883 for Motor insurance, Home Insurance, Travel insurance and business insurance solutions. 

Q: What should I do in case my vehicle meets with a motor accident?

A: Just dial our 24 hour hotline for HNB General Insurance on 0114-883-883 to report your accident to one of our customer service representatives. They will take your information and reassure you while an assessment officer arrives to inspect your damaged vehicle. After inspection, you will need to produce a repairer estimate (from your vehicle repairer) to go to the next step of your claim.

motor accident, road accident, vehicle accident
Image Credit: SundayObserver

Q: OK, I’ve got a Repairer Estimate, what do I do now?

A: Simply forward your repair estimate via e-mail, fax or hand it to your closest HNB General Insurance branch or our Motor Claims Department located at 51A, Dharmapala Mawatha Colombo 03 and we’ll take it from there.

Q: How do I report damage caused to my home, if I have a Home Insurance Policy with HNB General Insurance?

A: Call our hotline on 011 – 4 883-883 to report your loss. One of our team members will be there to help. Once you have provided your details of damages caused to your home, our representative will document this information and send an assessment officer to meet you and inspect the damages caused.

customer service, call center
Our amazing customer service team

Q:  I want to get a Motor Insurance Quotation, but I don’t have the time, can you help me?

A: Gone are the days when you had to run around and wait for insurance quotes. The HNB General Insurance ‘Motor Guard’ series gives you the convenience of getting the best vehicle insurance rates instantly by sending a SMS to your mobile phone. Simply Text MQR to 0720 200-200. Here are in depth-instructions in case you get stuck.

Got a question for us? Ask away in the comments section!

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Disclaimer: The views shared in this blog are based on the macro economic conditions & industry status quo as per the time of publishing.

How does Insurance work?

Spreading the risk

As we have identified earlier, its important to have insurance. Insurance companies exist because of  the many risks in the world. We are here to help individuals like you to manage risk by ensuring that if the unexpected happens, you will be able to manage the financial burden. Insurance firms pool together the risk together of many individuals, and this helps to benefit society as a whole.

Dont put your eggs in one basket: the core of insurance
Image Credit: gettyimages

An example

For example, if 100,000 Sri Lankan’s each pay Rs 12,000 annually for automobile insurance, the insurance firm will receive Rs 1.2 billion. During the course of 2014, if 10,000 individuals suffer a loss amounting to Rs50,000 each the firm would have to pay Rs 500 million in claims, leaving the rest for future claims. Sure, if the automobile isnt yours, that money is gone. However, it is a better option to enlist a large number of people to pool together risk in order to pay for the losses of a small group, because the financial burden of Rs50000 is usually too much for one individual to manage on their own.

Different premiums

However, all motorists don’t pay the same premium. With sufficient statistical information (collected over time), insurance firms can calculate the losses the company is likely to incur, and subsequently charge each driver a different premium depending on how likely they are to be involved in a motor accident. As a result, some drivers who are deemed ‘high risk-worthy’, (ie: multiple speeding fines and accidents) are more likely to pay a higher premium than those who travel carefully and play it safe.

Right Insurance = Financial Security

Motor insurance is something which needs to be handled with care, just like you would do to your precious vehicle. If you do it right, it becomes a useful tool to maintain the financial security you deserve. If you’d like to get a motor insurance quote, send us a SMS, or simply call HNB General Insurance’s 24 hour hotline on 0114-883-883.

Note: If you are more interested in Life Insurance, call HNB Assurance on 0114-384-384 instead.

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Disclaimer: The views shared in this blog are based on the macro economic conditions & industry status quo as per the time of publishing.

Get a Motor Insurance Quote via SMS in 3 Steps

Motor Insurance.

This is usually the first thought by any vehicle owner. If you are a parent, this would be the first thing you would mention to your son/daughter who decides to get a car: ‘Make sure you have motor insurance!’. That being said, some of us have no idea about the cost of motor insurance. If this is you, and  you want a more convenient method to get a quote, we have one! You can get a quote from HNB General Insurance via SMS in 3 steps:

 Step 1: Text MQR to 072 020 0200 (Standard SMS Charges Apply)

mqr

Step 2: Select from the options provided

As you can see, its a lot of information.

First Photo-pick your Vehicle type, usage and value

It doesn’t stop there. Here is the second part of the message:

photo 2Step 3: Text us for your premium

Thankfully, the SMS prompts give you an example on how you should respond. Lets say you have a car (1-vehicle type), which you intend to use for yourself (A-private usage), plan to purchase MotorGuard (M-product) and have your car valued at Rs. 2,000,000/-, send your text in the following manner (see below), and the premium will follow.

ONE more

And there you have it! An obligation free motor insurance quote directly to your mobile in 3 simple steps.

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Disclaimer: The views shared in this blog are based on the macro economic conditions & industry status quo as per the time of publishing.

100,000 Facebook Likes: Thank You For Your Trust

Trust.

It’s such an important word in our lives. It’s the foundation of many relationships, whether they are of a business or personal nature. In insurance, trust is crucial. Consider this, when a customer shops at the local Cargills (or Keells Super!), they pay for their goods, take them and leave the store. In insurance, we enter into a contract and sell a promise, in return for the premium made by the policyholder.

It sounds insane: the policyholder is paying a company on the trust that the company will provide a return in the future.

Trust
Image Credit: GettyImages

Barriers to Trust

Look at the Sri Lankan insurance industry. Although the public must acquire motor insurance ( its the law), they have numerous providers to choose from and generally look into life insurance only after they are finally secure.  It makes us scratch our heads and wonder what to do to earn trust.

Social Media: An opportunity to build Trust

Enter social media, a massive game-changer. There are 3 ways organizations can leverage this to their advantage.

1. Social media allows policyholders and potential customers (ie: you) to get information from providers they like, as they are more inclined to trust the word of like minded friends/organizations. If a company can break into that inner circle, there is a better probability for them to achieve top of the mind awareness.

2. More and more individuals use social media tools like Facebook and Twitter to assess goods, services and even entire organisations. Having an active online presence provides companies with an opportunity to access potential customers.

3. Existing policyholders talk about their experiences (good and bad) online. For example, if a policyholder complains about poor customer service from his/her company, and the organisation can rectify the situation, that’s a big deal. Having a good customer service experience not only keeps the existing customer, but that customer becomes more inclined to speak positively about the firm to their friends. This level of credibility is huge as it directly endorses the firm. The fact that this engagement is present for the world to see can be a risk, or a tremendous opportunity to show how good an organisation is when it comes to providing solutions.

Thank You 

This brings us back to trust. As a relatively young firm, we are proud to be pioneering the use of social media in our  industry. As a company which recently crossed 100,000 Facebook Likes, we wish to say a heartfelt thank you from all of us at HNB Assurance. YOU have invited us into your inner circle and engaged with our content; whether it is an inspirational quote, an article from this blog, checking out our Linkedin page, viewing our latest Youtube video or by looking at our product range on our website. Needless to say, we look forward to building that trust with you further;  whether its online or by meeting you face to face to provide solutions for your insurance needs.

Thank you for your trust

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Disclaimer: The views shared in this blog are based on the macro economic conditions & industry status quo as per the time of publishing.