Car Insurance Basics

6 Signs of a Good Group Auto Insurance Provider


March 10, 2015

What signs should a company look for when identifying a good car insurance kenya provider? This question arises whenever a company wants their employees to access group auto insurance services, or if a company wants to change their auto insurance provider. The following six signs may be useful in making this determination.

1. The Insurance Company Pays Claims in Reasonable Time

The main benefit that your employees get from the car insurance provider is compensation for claims. Keep track of how well the company pays claims when they are made, and whether the process is acceptable to your staff members. Companies that make claims processing a nightmare do not deserve your business. If your company is commencing group auto insurance for the first time, ask around to know how well various insurance companies handle claims.  

2. Has good Financial Health

Any reputable insurer must have good financial health to offer credible insurance services. An insurance company that is not operating profitably can fail to pay claims to your employees because of lack of finances. Good financial health is a sign that the company is well managed and is able to service your needs. One quick way to know the financial health of an insurance company is to visit the IRA website.

Related: How To Effectively Administer Your Company’s Corporate Motor Insurance Scheme

3. A Company that Is Growing

If the asset base of your current or prospective auto insurance company has not changed significantly in the last few years, then there is a problem. Biologists consider growth to be a sign of health and life. On the other hand, stagnation is a sign of ill health regardless of current appearances. This wisdom can apply in evaluating whether a motor insurance company is fit to handle your company’s needs.

4. Has Great Customer Service

The fourth aspect you need to look at is the speed and efficiency of the customer service of a motor insurance company. A simple test will be to send an email requesting for some information, and then wait to see how soon and how well the company handles your query. Slow and ineffective customer service is a bad sign, pointing towards frustrating experiences in the future.

Related: 9 Tips for Negotiating Low Premiums for Group Auto Insurance

5. Is in Touch with Clients

Does your motor insurance company keep in touch with you? If you are a corporate client, does the company contact you regularly to give you important updates, or is your relationship revived only during the period when your premiums fall due? Ditch any company that seems only interested in your money for one that takes a special interest in you as client.

6. Offers Reasonable Premiums

Finally, any good company should be able to offer its clients reasonable premiums. The level of competition in the motor insurance market is very high and this has played a role in reducing premiums across the board. Reasonable premiums do not necessarily mean cheap premiums, but premiums that are well-matched with the services offered. In this case, take time to study the market and then compare what you are paying with what other companies of a similar size are paying for the same services. 

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