| Summary: | 碩士 === 淡江大學 === 保險學系保險經營碩士在職專班 === 96 === Abstract:
The insurance industry in Taiwan has developed for several decades. Up to date, the numbers of local and foreign life insurance corporations have amounted to 30. Now, as a result of the increasingly high competition of the market, they have to put a great deal of efforts on the growth of the new business contracts and therefore, inevitably, this part becomes the focus of the education training on sales agents. Indeed, the growth of the new business contracts is important; however, the customer retention rate is also crucial. Generally speaking, insurance contracts are usually long term contracts, for that reason, the variables for the insured persons to continually pay the insurance fee to sustain its validity is another currently-encountered issue which is not supposed to be neglected. From the perspectives of the insured persons and insurance dealers, they both are not willing to see the contract which has been paid for years to be suspended because of the temporary financial difficulty. Therefore, how to scheme a fair and reasonable mechanism to reinstate the insurance and meanwhile, create a win-win situation bilaterally is significant and urgent.
Owing to the rise of consumer awareness and the authority’s changing attitude toward customer complaints, the disputes on insurance reinstatement occur more and more often these years. Besides, due to the changing environment, economic growth, revision or creation of each insurance-related law, the attitude of the insurance commissioner and the rise of consumer awareness, the regulations related to insurance reinstatement which had been used before seem to be out of date. These are all the reasons why the enforcement of the insurance law always conflicts with the demonstration clauses of reinstatement, which have been causing disputes and litigations for a long period of time. Therefore, on July 18th, 2007, the newly-declared insurance law was revised in the light of clauses of reinstatement and the authority also referred to the resources from other countries to amend the clauses related to “whether the reinstatement duration should be accepted by life insurance corporations without any condition”.
The study focuses on how the clauses of reinstatement in Taiwan’s insurance law affect insurance corporations and insured persons. The following conclusions are gained through the interviews with the experts in different fields.
1. Ensure the customers’ right.
2. Specify associated regulations to prevent disputes caused by understanding discrepancy.
3. The insurance corporations will have higher pressure in ways such as adverse selection risk, cash flow and process time; however, the risk management can be enhanced.
4. Life insurance corporations have no obvious adjustment toward the operation of reinstatement so far.
5. Life insurance corporations should not only provide customers the service of reinstatement of insurance contract through authorizing or relying on sales channels, but also have to reinforce the service quality and the communication with customers.
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