especially in the case of the daily sickness benefits insurance are significant increases in Premiums. This is a result of a market analysis of the VZ center Assets. The experts have compared the loss ratio of the largest insurers. It is an important indicator to assess the profitability of an insurance product. This is the proportion of the provided insurance indemnity and the creation of reserves to total premium income.
comparison of loss ratios for daily sickness insurer
“Ideally, a value between 70 and 75 per cent,” says Simon Tellenbach, author of the market analysis. In the case of a higher loss ratio, it is difficult for this business to operate cost-covering, as a rule, cost from 20 to 25 per cent for Administration and sales. The analysis showed that in the past three years, almost all insurers above this target value were – in some cases significantly. Generali, Sympany, Rhenusana come for three years to an average of 100 percent and more. With other words: For many providers, the daily sickness benefits insurance is for several years at a loss. Tellenbach called several reasons for this: on the one Hand will ever be deported, the more benefits to the daily sickness benefits insurance, which would lead to an increase in payments. “On the other hand, the market is broken: insurance companies are fighting for market share and are willing to take losses.”
pressure on employees
With a loss ratio of 104 percent, Generali is in comparison with the top rider. You confirmed on request, that a result in of this magnitude was not a good value, and is called the reasons for which the claims ratio to rise. The economy is bad, suffering is also the employees. Work failures – for example, due to Burnout. It comes with large to a reduction in the customers restructuring and make, quick-drying, the loss ratio in the height.
absences at work due to illness and accident in Switzerland since 15 years. The therefore lost work time is to show 2010 had increased by almost 30 percent according to Figures from the Federal office for statistics.
in Addition, Generali stressed that the market is currently highly competitive, since, increasingly, health insurance plans, such products offer. The increasing price pressure and lead to, among other things, that some providers will not take losses in the daily sickness benefit business to be able to package other products to sell. Finally, Generali put into perspective your worth In the competition under the competing offer often own offers. Generali was by no means always with dumping prices.
Higher payroll deductions?
No company’s loss-making business wants. Tellenbach is convinced that it is only a matter of time until the insurer can increase your premiums significantly. “The loss ratio is systematically too high – I expect to be in the coming years, with premium increases of an average of 8 percent.” It is the companies who select the insurer, and contracts with him to complete.
A increased premium for daily sickness benefit insurance, the employees feel. For example, if in a smaller company, with ten employees, the annual premium of 15’000 Swiss francs for the daily sickness benefits insurance is increasing by 8 per cent, will cost an additional 1200 francs. Half of them passed the company, often with a higher payroll deduction to the employees. According to this calculation, the monthly wage sinks of each employee by an average of 5 Swiss francs. According to Tellenbach, the effects for large firms are similar.
Generali sees in addition to premium increases, other ways to improve the claims ratio. So in the case of large customers, a Care and a Case – Management could lead to substantial savings. Case Management serves employees more quickly reintegrate or to be entrusted with a new task, while the Care Management of the impact of preventive. The generalized refers to the fact that the loss ratio will improve for several years, without the hefty premiums, premiums tend to be verb.
(editing Tamedia)
Created: 13.12.2018, 22:13 PM
