A recent survey called the Inaugural RaboPlus Financial Confidence Index highlighted the distrust consumers have toward  insurance companies when it comes to paying out on claims. The survey showed that only 39% of people who took part in the survey, felt confident that health insurance companies would honor valid claims. Life insurance companies fared little better with at 52% and general insurance companies at 68%

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Insurance companies fared fairly well overall considering finance companies and sharebrokers performed the worst on the index. Vance Arkinstall, chief executive of the Investment Savings and Insurance Association said “an upcoming ISI board strategic planning session will look into consumer confidence and trust, and the consumer perception of these for the industry. We want to find out how the world perceives us and what we can do to improve whatever those outcomes are.”

You can find more information about insurance claims and local organisations that will help you settle disputes on our websites.

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