Exclusive interview with Nan Shan Life Insurance
Nan Shan Life Insurance is one of the oldest insurance companies in Taiwan. How has the industry evolved over the years?
Nan Shan Life was established in July 1963. It is one of the oldest insurance companies in Taiwan. For more than fifty years, Nan Shan Life has been dedicated to trust, customer service based on the corporate philosophy of trust, care, and integrity. The company always works from a customer’s perspective and pays attention to the needs of every customer. It also makes best efforts to facilitate health development of the insurance market in Taiwan. In September 2016, Nan Shan General Insurance became officially a subsidiary of Nan Shan Life. The acquisition enabled Nan Shan Life to provide life as well as property and casualty insurance products under one roof and offer complete protection against risks. In May 2017, Nan Shan Life assumed all assets and liabilities of Chaoyang Life, thereby ensuring that Chaoyang Life policyholders would have their rights protected and be able to enjoy quality customer services provided by Nan Shan Life.
Nan Shan Life provides a full range of products to meet the needs of customers at every stage of life. Can you tell us about some of them? Will you be launching any new ones this year?
Focus on Life Insurance and Provide Diversified Products
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Nan Shan Life recognizes the increasing highlighted problem of insufficient insurance coverage in an aging society as well as a growing variety of risks in life, and, in response, provides a full range of life insurance products catering to different stages of life. The line offers everything from term insurance to whole life insurance. Customers can choose products that suit them best. This in turn assists them build up complete protection against risks.
All-inclusive Health Insurance Products Satisfy Medical Needs
Various types of term or whole life health insurance products are provided including hospital indemnity and fixed indemnity for surgical procedures. Customers can have comprehensive insurance plans based on their personal needs. Specific products that target critical illnesses and cancers associated with top 10 causes of death in Taiwan are also designed to satisfy health insurance needs.
Provide Injury Insurance Products to Create a Complete Accident Protection Network
Nan Shan Life understands the potentially severe impact of accidents, and is constantly working to develop more comprehensive products, including personal accident insurance, per diem payments for accident related hospital stays, and indemnity based accidental death and dismemberment coverage. Furthermore, Nan Shan Life was first to launch a whole life indemnity insurance product in Taiwan. In addition, Nan Shan Life was the first insurance company to provide accidental fracture insurance and raise the upper age limit for coverage in order to cater to the needs for protection among the elderly as they age and become more prone to accidental bone fractures. The comprehensive coverage reduces customers’ medical expenses.
Launch Innovative Personal Micro-insurance Products to Take Care of Minorities in Response to Governmental Policies
Nan Shan Life is the insurance company to provide the first personal micro-insurance product. Lower insurance rates are offered to make basic accidental death/disability insurance affordable to minority groups. Accident group micro-insurance also became available, and eligibility for coverage was extended to include certain previously ineligible customers. Special service counters are set in sales and service centers (SSCs) and a free micro-insurance consulting hotline is provided to help customers gain easier access to professional support.
Develop New Insurance Products to Meet Public Needs Following Social Trends
New insurance products are continuously being developed and provided in response to various needs and future social trends. Examples: A series of endowment long term care products have been launched in response to an aging population and to satisfy the needs for care after retirement. Campaigns are organized to promote knowledge of health and medicine and to encourage consumers to develop healthy habits and make plans for adequate protection. A number of foreign currency denominated or unit linked products are launched as more and more consumers makes financial decisions and transactions across borders and are in need of more choices in financial planning and flexibility in asset allocation.
Customer service is a priority for Nan Shan Life. Why is this a focus for you and how do you continue to meet the ever-changing needs of customers?
Insurance is a business that offers care and assistance. Every policy represents a lifelong promise made by Nan Shan Life to the policyholder. While pursuing business growth, Nan Shan Life holds itself to providing efficient, precise, and warm and caring services and to adhering to Nan Shan Life’s core values and being a presence of stability for its customers and their families.
Nan Shan Life’s service motto is to “treat customers like family”. Nan Shan Life endeavors to understand customer needs at every point of contact with customers. Nan Shan Life adopts an “active”, “innovative” and “care giving” spirit to continuously provide better-than-expected customer services. Nan Shan Life aims at becoming the paragon in the insurance industry and “the spokesperson for customers’ happiness”.