AAS insurance

[Neutrino]

Just asked AAS to quote for insurance.

 

They quoted me 25% higher than NTUC.

 

They said it was a very competitive quote.

I asked why it was so high.

 

They said it's because we give you free medical cover, free so and so, free such and such.

 

I said those things aren't free you are getting me to pay for them and probably making extra profit on them.

 

Do people fall for that type of reasoning????

[flashbang]

Just asked AAS to quote for insurance.

 

They quoted me 25% higher than NTUC.

 

They said it was a very competitive quote.

I asked why it was so high.

 

They said it's because we give you free medical cover, free so and so, free such and such.

 

I said those things aren't free you are getting me to pay for them and probably making extra profit on them.

 

Do people fall for that type of reasoning????

 

Just like how dealers sell you cars for higher price and say they have 6 months warranty for gearbox and engine...

[1fast1]

Just asked AAS to quote for insurance.

 

They quoted me 25% higher than NTUC.

 

They said it was a very competitive quote.

I asked why it was so high.

 

They said it's because we give you free medical cover, free so and so, free such and such.

 

I said those things aren't free you are getting me to pay for them and probably making extra profit on them.

 

Do people fall for that type of reasoning????

 

I would never call anything to do with AAS a "scam" because that might be actionable.

 

But in my opinion, most of the "services" they offer are just not worth it.

 

I've been an AA member for a long time, and I really haven't used anything they provide - not even the battery replacement service. I keep them as a "just in case".

 

When it comes to 24-hour roadside assistance, most reputable ADs already offer this service, as long as you tow the car back to their workshop.

 

Since I drive up North, there is still some theoretical benefit to hanging on to the AAS membership, but I haven't had to use it yet (not that I would want to - knock on wood).

 

The AA shop is totally - OK, again I would never call it a "ripoff", because, you know - uncompetitive in pricing, in my opinion. A Blackvue camera was being advertised for "normal price $x, special AAS member price $y", making it seem like a substantial discount. But when I checked the Blackvue official website, the advertised price was exactly $y. What advantage would I have buying it from the AA shop?

 

You know what I want to see? AAS actually fighting for the rights and interests of motorists (protesting the completely arbitrary extra petrol taxation, for instance). You know, like they were originally intended to do, and the way many AAs still do in (truly) democratic regimes across the world. But they won't do that in Singapore - they've been thoroughly depoliticised, and are basically even more toothless than CASE, for instance.

Edited March 11, 2015 by Turboflat4

[Othello]

Just asked AAS to quote for insurance.

 

They quoted me 25% higher than NTUC.

 

They said it was a very competitive quote.

I asked why it was so high.

 

They said it's because we give you free medical cover, free so and so, free such and such.

 

I said those things aren't free you are getting me to pay for them and probably making extra profit on them.

 

Do people fall for that type of reasoning????

 

what answer do you expect then ?

 

truth is every insurer's actuaries set the premium differently based on parameters set out by Head Office. AAS do not provide insurance, IIRC both their insurance are underwritten by other insurers.

[Kangadrool]

If not wrong, AAS partners with AIG, Liberty and Income. So, I reckon what TS is trying to say is, AAS quoted Income's premium as 25% higher from Income direct.

 

Then again, sometimes, we need to drill further into details to ascertain if it's really worth the extras. It could be additional coverage offered by AAS/Income versus Income standard offer to general public.

 

 

what answer do you expect then ?

 

truth is every insurer's actuaries set the premium differently based on parameters set out by Head Office. AAS do not provide insurance, IIRC both their insurance are underwritten by other insurers.

 

[Othello]

If not wrong, AAS partners with AIG, Liberty and Income. So, I reckon what TS is trying to say is, AAS quoted Income's premium as 25% higher from Income direct.

 

Then again, sometimes, we need to drill further into details to ascertain if it's really worth the extras. It could be additional coverage offered by AAS/Income versus Income standard offer to general public.

 

 

 

fair enough. Just surfed both websites. AAS has only 1 offered by NTUC while NTUC has 2 different plans so you are right. Have to compare apple to apple. But that said, going through AAS means have intermediary means commission lah. NTUC have direct quote means no need agent ?

[Kangadrool]

I have been receiving quotes from both agents and insurers direct. For the same plan (same benefits), the premiums quoted by the agent and insurers are the same.

 

So what agents earn you may ask?

 

Agents make through commissions and rebates from insurers after the deal is went through. Most insurers still need agents to push for more sales although most do some own selling. It's about balancing.

 

For intermediaries that tie up with insurers, normally their tie up plans have some differences versus insurer's standard plans. And of course, intermediaries also earn through commissions, rebates and maybe markups.

 

 

fair enough. Just surfed both websites. AAS has only 1 offered by NTUC while NTUC has 2 different plans so you are right. Have to compare apple to apple. But that said, going through AAS means have intermediary means commission lah. NTUC have direct quote means no need agent ?

 

Edited March 11, 2015 by Kangadrool

[Neutrino]

When booking hotels the price through Asia rooms or Booking.com etc etc is usually/always cheaper than going direct to the hotel.

 

But not by the looks of it buying insurance through AAS.

[Kb27]

"free" and "discount" are marketing terms helping to sell a product.

 

If you want really cheap product, just compare the real price, no need all these marketing terms.

[Jman888]

i thought AAS is just another broker trying to search for the cheapest rate for customer?

 

which insurance company did they quote you? you can confirm if the rate is genuine if you go direct from the same insurance company, if not it doesn't mean NTUC must always be the cheapest.

[Kangadrool]

the real broker will send you a table with more than 8 quotes listing down all the salient features of each.

 

I see AAS more like intermediaries trying to differentiate themselves from the mass market agents with some product/service customisation.

 

i thought AAS is just another broker trying to search for the cheapest rate for customer?

 

which insurance company did they quote you? you can confirm if the rate is genuine if you go direct from the same insurance company, if not it doesn't mean NTUC must always be the cheapest.