Here is a list of the 11 best insurances in the world 2021
Here is a list of the 11 best insurances in the world 2021 - It is undeniable, currently insurance companies are one of the promising business fields. This is due to people's awareness of their diverse needs, which is the main factor for this one financial product to be increasingly in demand. However, not all insurance products are owned by the public. However, there are some such as health insurance, travel insurance, to vehicle insurance are still the prima donna. These three insurance products are more often offered at once by an insurance company. The matter of premiums also varies, of course it will adjust to the financial condition of its customers.
Keep in mind, there are a number of the largest insurance companies in the world. Almost all of them have branch offices in Indonesia. Since these insurance programs are aimed at long-term finance, it would be better if you choose insurance services from an insurance company that has clear quality and meets the criteria as the best insurance in the world.
To make it easier for you to choose the right insurance company, here Qoala will provide information regarding the 11 best insurance companies in the world in 2021 that will help you choose the insurance that suits your needs.
Best Insurance List in the World
It should be noted that in choosing the best insurance, of course, you can't only look at the premium side, but also pay attention to how big the company's network is. Because, by looking at how big the company is, it can ensure the opportunity to guarantee compensation for compensation to its customers. Here are the 11 best insurances in the world 2021, anyone?
1. Berkshire Hathaway
United States of America is the nation of origin for Berkshire Hathaway (Berkshire Hathaway).
The corporation was started in the year 1839.
The company's headquarters are in Omaha, Nebraska.
Two of the prominent characters are Warren Buffet and Charlie Munger.
Revenue of $223.60 billion (2016)
Total assets of US$620.85 billion (2016)
The first is Berkshire Hathaway, which is already well-known as the world's largest insurance company. This insurance company, located in Omaha, Nebraska and founded by Oliver Chace, has a net profit of up to IDR 7,334 trillion. Profit comes from a range of commercial ventures, including transportation, real estate, and manufacturing.
2. Ping An Insurance
The country of origin is China.
The firm was established in 1988.
The corporation is headquartered in Shenzhen, China.
Jessica Tan plays a critical role.
Revenue of $13.9 billion (2019)
Total assets of US$1.1 trillion (2019)
Ping An Insurance, founded in 1988, has been entrusted with managing Chinese citizen insurance assets valued at US $ 130.9 billion. Ma Mingzhe, one of the organization's leaders, resides in the Guangdong city of Shenzhen.
3. UnitedHealth Group
UnitedHealth Group ranks third.
The nation of origin is the United States of America.
The firm was founded in 1977.
The company's headquarters are located in Minnetonka, Minnesota.
The protagonists are Richard T. Burke and Stephen J. Hemsley.
Revenue of 184.8 billion dollars (2016)
Total assets of US$122.8 billion (2016)
This American insurance business, together with Ping An Insurance, is the world's best insurer in 2021. It is expected to have a net profit of Rp. 3,156 trillion. Additionally, UnitedHealth Group Inc. offers a range of health insurance products for consumers, retirees, the elderly, families, office employees, and military members.
4. China Life Insurance
China Life Insurance Company, No.
The country of origin is China.
The firm was founded in 1949.
The headquarters are in Beijing.
The protagonists are Dairen Lin and Yang Minsheng.
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Total assets of US$362.1 billion (2015)
China Life Insurance is projected to be the world's second largest insurance company in 2021. With around USD 580.33 billion in total assets, the PRC's largest life insurance company currently controls 45 percent of the country's market. China Life is number 51 on Fortune's Global 500 list due to its success in registering big assets.
5. Allianz
Allianz Group Insurance
The country of origin is Germany.
The corporation was established in 1890.
The company's headquarters are in Munich.
The protagonists are Oliver Bate, Helmut Perlet, and Maximilian Zimmerer.
Revenue of €95.76 billion
Total assets of €848.9 billion
Allianz Insurance is the world's second largest insurance company in 2021. The brand is already well-known in a number of countries, including Indonesia, and is headquartered in Munich, Germany. It's worth mentioning that in Indonesia, PT Asuransi Allianz Life had a total net profit of Rp. 1.17 trillion. Profitability improved by 48.66 percent year on year, supported by investment income of Rp. 2.48 trillion.
6. AIA Financial
AIA Financial Services, Inc.
The country of origin is Hong Kong.
The firm was established in 1919.
The company's headquarters are in Shanghai, China.
Cornelius Vander Starr is a well-known individual.
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Assets totaling 284 billion dollars
Apart from Allianz, AIA Financial is the second best insurance business in the world. This insurance company, which operates in Indonesia as well, was started in Singapore in 1919 and is now headquartered in Hong Kong. Its total net profit in the second quarter of 2020 was Rp 1,025 trillion. To your information, AIA Financial's net profit climbed to Rp. 763 billion from Rp. 262 billion at the same time last year.
7. AXA
The nation of origin is France.
The corporation was founded in 1817.
The headquarters are in Paris.
Thomas Buberl plays a significant role in the plot.
Revenue of €98.53 billion (2015)
Total assets of €887.07 billion (2015)
Additionally, AXA S.A. is considered as one of the world's largest insurance companies. In 1816, this insurance firm was founded. This French-based multinational insurance company earns a net profit of around 1.4 billion euros. However, earnings were cut by up to 39% due to a reduction in assets and claims related to the corona virus. As a result, his party slashed the company's growth strategy and eliminated dividend payments to all shareholders.
8. Prudential Plc
Prudential Assurance plc number 8
The country of origin is England.
The firm was established in 1848.
The company's headquarters are in London.
Paul Manduca is a key character.
Revenue of £71.842 billion (2016)
- Total asset value
The following firm is Prudential Plc. This company is a financial services organization situated in London. In 2020, the firm is predicted to have a net profit of around USD 2.18 billion. It's worth mentioning that Prudential's Indonesian affiliate, PT Prudential Life Assurance, has assets of Rp 65.3 trillion as of the first quarter of 2020.
9. Anthem, Inc
Anthem, Inc. ranks ninth.
The nation of origin is the United States of America.
The firm was established in 2004.
The corporation is headquartered in Indianapolis, Indiana, United States of America.
Gail Koziara Boudreaux is a pivotal figure.
Revenue of US$121.9 billion (2020)
- Total asset value
In 2021, Anthem Incorporated will be one of the world's largest insurance companies. This insurance company continues to grow in terms of net profit. This American insurance company increased its revenues by 13.1% in 2020, to USD 104.21 billion, with a predicted net profit of USD 4.80 billion.
10. Cigna
Cigna is ranked tenth.
The nation of origin is the United States of America.
The firm was established in 1981.
The corporation is headquartered in Bloomfield, Connecticut, United States of America.
David Cordani is a pivotal figure.
Revenue of 160.4 billion dollars (2020)
- Total asset value
Cigna Insurance, the world's best insurance firm, looks to be reaping the rewards of its position, with a total net profit of USD 5.1 million last year. Cigna Insurance's earnings continued to grow at a rate of 94 percent, driving the business to position 197 on Fortune's Global 500 list.
Cigna Insurance, headquartered in the United States, is a global leader in health insurance. Cigna is a health insurance company that also offers life, accident, dental, and disability insurance.
11. Munich Re
Munich Reinsurance number 11
The country of origin is Germany.
The corporation was established in 1880.
The company's headquarters are in Munich.
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Revenue of €48.9 billion (2016)
- Total asset value
Finally, Munich Re is the largest insurance company in the world. This insurance company has a total customer base of 5,000 and expects to generate revenues of up to USD72.53 billion in 2020 for its headquarters in Germany. Meanwhile, Munich Re is one of the insurance companies whose net profit increased by 11.8 percent to USD3.04 billion.
Criteria for the Best Insurance Company
Currently, there are many insurance companies that are developing in Indonesia. It is undeniable, these insurance companies are increasing in number. The reason is none other than the current public awareness of the importance of insurance as protection in the future. If you are looking for the best insurance to protect yourself and your family, then this information may be very important to know.
In choosing the best insurance, it is definitely very important for you to look at the company that offers the insurance. The reason is, choosing the right insurance company and according to actual needs is not so easy. Of course, all insurance companies of course consider if they are the best. So as not to confuse you, it is important to know some of the safe and best insurance company criteria that can be understood as below.
1. Company Reputation
Just imagine, when you can enjoy a lollipop and suddenly want to go to the toilet, will you choose to leave a lollipop with your 5-year-old sister or your grandmother who has a history of diabetes? If you have to choose, it's better to leave the candy with your grandmother because the chances of the candy being eaten are smaller, even almost zero percent. Why? Because her grandmother has diabetes and must avoid sweet foods.
It's the same with choosing an insurance company. Of course, you want a company that is credible and has a pretty promising reputation. That way, you will be more confident that your money will not be eaten or taken away by the company. The solution, you must always collect information and experiences from your relatives who use similar services to find out the reputation of the company. With it, you will make better and wiser decisions.
For information, if the company you are after is only 1-2 years old, it would be better to consider it first. Not that if the new company can not be trusted. However, a company that has been around for a long time and is able to maintain a reputation will be more secure.
Finally, the criteria for Risk Based Capital or RBC must be good. RBC is one of the factors that determine whether the insurance company is trusted or not. RBC is a measurement method for Solvency Level Limit. RBC has been described in the law to measure the level of financial security and health of an insurance company. The greater the value of RBC, it indicates that the company's financial condition is healthy. At least, the company's RBC value must reach 120%. If the company's RBC is less than 120%, it's not impossible that you put your money at risk.
2. Broad Branch
A good insurance company usually has an extensive network, both in terms of operations (branch offices) or partnerships with various partners. In addition, as a place to register for membership, branch offices are usually places for customers to complain if there is a problem with the insurance company.
On the other hand, a good insurance company has a wide network of partnerships. Insurance companies that offer health insurance products, for example, usually work with hospitals. This will make the more hospitals that cooperate with the insurance company, the better.
3. Number of Customers
Insurance companies must have many partners or customers. It doesn't matter where it comes from, it can be from a health center, car repair shop, or others related to the insurance products offered. Of course, the more quality partners the company has, the more insurance services it provides. If more of these things are owned by an insurance company, it will certainly make it easier for customers to access the services they need.
4. Financial Strength
As it is known that insurance is one way to achieve the goal of financial security. The reason is, in insurance, of course you have set aside some money for children's future education costs, medical expenses, even insurance can also be used to prepare inheritance for loved ones. It is undeniable that insurance has also offered investment fund management. So not only the sum assured can be obtained by customers, but also the results from their investments.
5. Price Competition
One of the ways that good health insurance business players are getting more and more people interested is to provide cheap insurance premiums. This is where the price competition will start. The reason is, this premium cannot be given as cheaply as possible. However, there are rules that have been set by the OJK or the Financial Services Authority. Not only that, they also dare to offer the lowest possible premium as long as it doesn't violate the rules.
It doesn't end there. There is also a discount of up to 1 million rupiah for the first registrant. This is all done so that health insurance companies are competitive and can remain present and serve in an increasingly competitive climate.
This is important for prospective customers to know so that they can predict whether the company will be able to fulfill the Claim promise when needed.
As is well known, some people are indifferent to insurance companies. The reason is, they often hear stories that are not pleasant to hear. There is a health insurance policy holder but instead has difficulty in filing a claim.
Therefore, before choosing, you should first know the reputation of the health insurance company. You can ask a friend or relative who already has an insurance policy at the company. You can also read comments or testimonials in groups on social media. From there you can find out how it affects them, especially when submitting a claim.
You can use these three things as a benchmark to determine which health insurance is good and which one you don't need to choose.
Furthermore, if you want to apply for insurance from one of the eleven insurance companies above, then you can directly see it on the Qoala App or the official Qoala Blog page. Here, Qoala presents a variety of quality insurance products.
The good news is, you can apply online whenever you need it, so you don't have to bother visiting the insurance company's office anymore. Not only can you apply, Qoala App can also compare all its insurance products, both health insurance and vehicle insurance. By comparing them, of course you will get a good insurance product as well as according to your needs and finances.