Car Insurance Concept
We are currently looking into releasing a new car insurance product that will revelutionise the way in which people insure their cars in the future! We and an affiliated company are looking to launch a car insurance product where you pay the usual premium at the start of the years cover. However, unlike normal car insurance, if you dont make a claim within that year you receive 100% of that paid premium back, thats right all your money back!
What do people think of this? Would you go for a product like this rather than paying already excessive premiums and losing the money even if you dont claim? We want your views and idea on this concept so please let us know!
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Well, presumably the insured person would want to pay in for the next year when the first year was up, so you could just leave the funds in, right? I guess my questions are these:
1. Where would the insurance company get the money to pay for accidents if the only people who wouldn't get 100% refunds, are the people who made claims? If the claims cost more than their premiums (which they definitely would), where would the money come from to pay for the claims?
2. Would this insurance company have any employees? Where would their salaries be generated?
February 13, 2009 12:23 PM | Reply | Permalink
SPAM! SPAM! SPAM!
February 13, 2009 3:10 PM | Reply | Permalink
Boy, am I dumb! Thanks, BronxMowgli!
February 13, 2009 3:16 PM | Reply | Permalink
Click the report abuse button down on the bottom right of the screen. And include the url for the blog.
February 13, 2009 3:21 PM | Reply | Permalink