Garage Service Resolution Process (For Unauthorized Garages).



Source: Fubon Binh Duong Compensation Appraisal Department.


Necessary documents that the garage prepares:


 Vehicle registration

 Driver's license

 Accident notification

 Photos of loss and damage

 Image after repair

 Police report (if required)

 Conciliation board (if needed)

 Invoice

 Notice of claim (signed by garage)

 Acceptance report.

2.4.2.3 Garage Service's settlement process (for unauthorized garages).

Figure 2.4 Garage Service's settlement process diagram (for unauthorized garages).


Source: Fubon Binh Duong Compensation Appraisal Department.


2.4.2.4 Motor vehicle compensation settlement process (Third party human accident)

Figure 2.5 Flowchart of motor vehicle compensation settlement process (Third party human accident)


Source: Fubon Binh Duong Compensation Appraisal Department.

B2. The insured person takes photos (of the accident scene):

• The insured person has two options: either take a photo (even a photo taken with a phone is acceptable) or report the accident to the local police.

• For collisions with third parties, reporting to the police is usually the best way to support the insured person in the compensation process.

How to take photos at the scene:

The insured should take full pictures.

presently

accident scene including taking photographs of evidence that is believed to have led to the accident.

B4. Notify Fubon and prepare relevant documents: Notice

Notify Fubon in any form (phone, fax, email...). What documents need to be prepared:

• Police report (if available or incident report)

work done


Insurance certificate, insurance contract


• Vehicle registration (copy)


• Driver's license (copy but bring the original for comparison)

B7. Gather all necessary receipts or bills: Hospital receipts, medicine bills, etc.


2.4.2.5 Motor Vehicle Compensation Settlement Process (Third Party Property Damage)


Figure 2.6 Flowchart of motor vehicle compensation settlement process (Third party property damage)


Source: Fubon Binh Duong Compensation Appraisal Department.


B2. The insured person takes photos (of the accident scene):

• The insured person has two options: either take a photo (even a photo taken with a phone is acceptable) or report the accident to the local police.

• For collisions with third parties, reporting to the police is usually the best way to support the insured person in the compensation process.

• In case the insured person cannot take pictures or report to the police for minor scratches, he/she must immediately notify Fubon for specific instructions or take the vehicle to Fubon's garage system (garages that have signed a contract with Fubon) for repair consideration.

How to take photos at the scene:

The insured should take full pictures.

presently

accident scene including taking photographs of evidence that is believed to have led to the accident.

B3 . Notify Fubon and prepare relevant documents : Notify Fubon in any form (phone, fax, email , etc. ).Whatdocumentsneed to be prepared :

• Police report (if available or incident report)

work done

• Insurance certificate, insurance contract


• Vehicle registration (copy)


• Driver's license (copy but bring the original for comparison)

B9/ Confirmation of receipt of all necessary documents: After the person is

The insurance company has provided the claim documents.

related and signed the notice of acceptance

2.4.3 Current status of the company's appraisal and compensation work.

Compensation assessment is a part of after-sales service, which affects the competitiveness and reputation of the Company. Therefore, Fubon Binh Duong pays great attention to this work.

Loss assessment is carried out by assessors. In developed countries, assessors are directly appointed and selected by insurance companies. However, in most countries, assessors are employees of the insurance companies themselves. Therefore, assessors must ensure the following requirements:

Damage recording must be accurate, timely, objective and honest. Damage recording means recording the actual situation and re-determining the damage, severity and cause of the damage. The appraisal work is only carried out when the insured or the insurance company requests it. To ensure

To ensure objectivity, some insurance transactions during the appraisal process must be witnessed by relevant parties.

Proposing measures for preservation and prevention of damage must be timely and within the authority. When a risk of loss occurs, the surveyor has the obligation to intervene to minimize the severity of the loss and the increase in damage.

damage. If systematic loss is found, the assessor must find

understand the cause, how to resolve it and notify the insurance company that has appointed you as an assessor.

The information that the appraiser provides to the insurance company, although voluntary, includes all the details of the events that occurred and related issues such as: The actual situation at the scene of the accident, the theft situation, regulations of the police and local authorities, etc. This information will be worthless if provided too late, because it will not be discussed and used as evidence when making a record of loss appraisal.

Compensation is the final step of motor vehicle insurance, the milestone.

quality mark of insurance services. Can create trust, credibility and

Whether or not a customer wishes to renew depends mainly on the compensation stage. Motor vehicle compensation includes compensation for the Civil Liability of the motor vehicle owner to a third party and compensation for physical damage to the motor vehicle. Compensation and insurance payment are the core issues of the insurance business. Because when buying insurance, it means that the customer has paid for the insurance products and the insurance company commits to compensate quickly and fully if they unfortunately suffer a loss. At the time of loss, the customer often suffers great mental "shocks", especially in cases where the insured person dies or is permanently disabled. At this time, the capacity, honesty, efficiency, tact and humanity of the insurance company are recognized through its treatment of victims and insured events. If handled well, it is

is the best way to advertise for an insurance company. Therefore, Fubon Binh Duong always believes that "Commitments are guaranteed by gold".

Specifically, we have the situation of compensation for motor vehicle insurance operations at the company in the period 2011-2012:


Table 2.3: Compensation situation for motor vehicle insurance operations at Fubon Binh Duong in the period 2011-2012 (unit: million VND)


STT

Business

2011

2012

1

Automobile liability insurance

295

503

2

Motorcycle liability insurance

0

1


3

Accidents for drivers and passengers

sitting in the car


0


19

4

Car material

1,342

1,970

5

TNDS beyond mandatory limit

11

14

Total

1,776

2,507

Maybe you are interested!

Source: Fubon Binh Duong Compensation Appraisal Department.

Analyzing the data table above we see:

The automobile physical damage insurance business has the highest compensation amount among all businesses, which is understandable because the automobile physical damage insurance business has the highest revenue among all businesses. While the premium revenue of the automobile physical damage insurance business increased by 1.28 times, the figure for automobile physical damage compensation expenses was 1.48 times; this shows the difference between the growth rate of revenue and the growth rate of compensation expenses of this business. This is the main business, but the compensation situation is not very positive, with an increasing trend in the number of compensation cases and the scale of each case.

Automobile TNDS insurance is a business with a high compensation amount.

rank

two of the operations

motor vehicle insurance. And the amount of compensation

This business is always larger than its total fee revenue. The above figures show that the business efficiency of this business is not high.

Motorbike traffic accident insurance, accident for driver and passenger, traffic accident exceeding the compulsory limit has a modest compensation amount, due to the nature of the compulsory service, the vehicle owner only buys it to deal with the authorities. Only when an accident occurs do they know that they have insurance in their pocket, therefore, in minor collisions, vehicle owners often negotiate and settle without informing the insurance company, but in serious accidents, the company only knows and

proceed with compensation. Therefore, in the coming time, we must organize propaganda

Let everyone understand: buying insurance is not mandatory but also has many other great meanings.

Accident insurance for drivers and passengers, compulsory excess liability insurance has insignificant compensation amount. Fubon Binh Duong is only responsible for compensation for vehicle physical damage insurance and a small number of auto liability insurance, while some other insurance lines are insignificant.

We continue to examine the company's main insurance business - vehicle physical damage insurance through the following table:

Table 2.4: Status of appraisal and compensation expenses at Fubon in the period 2012 - 2013


Year

2012

01/01/2013 => 07/03/2013

Contract number

891

628

Insurance fee (VND)

3,189,915,361

648,907,560

Claim file number

291

70

Compensation amount (VND)

1,970,244,790

565,523,066

Frequency (%)

32.66

11.15

Severity (VND)

6,770,601

8,078,901

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