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Why would insurance companies want to speed up payments. This would cost them millions?
by aaron695 9y ago
Why would insurance companies want to speed up payments.
This would cost them millions?
- brokentone 9y agoMoving from unrealized to realized cost faster, sure is worse to a quarter, etc, but eventually it will all be realized. It is on their balance sheets in some way regardless. The bigger picture is that human capital to assess all the claims is quite expensive and having to spend 8x less on that is a benefit to them.
- rubyfan 9y agoInsurance companies are actually interested in taking care of their customers after a catastrophic event. It’s core to their business. Faster payment means people can get back on their feet faster and are likely to stay with the company longer.