Insurance Claim Delays Deliver Massive Profits To Industry By Shorting Customers
December 19, 2011
In a recent Huffington Post article entitled ” Insurance Claim Delays Deliver Massive Profits To Industry By Shorting Customers” (http://www.huffingtonpost.com/2011/12/13/insurance-claim-delays-industry-profits-allstate-mckinsey-company_n_1139102.html). The article clearly shows how the big insurance companies are manipulating the claims process so that consumers get the short end of the stick.
The article points out how the insurance industry has changed the way they process claims to ensure that consumers do not get what they deserve but get what they want them to have. Quote: “Rather than adjusting claims the traditional way, which gave claims managers wide latitude to serve customers, insurers embraced a computer-driven method that produced purposefully low offers to claimants.”
At a time when, according to the story, 46.2 millions of Americans are living in poverty and 25% of Americans could not come up with $2000 on 30 day. The big insurance companies are continuing to drag their feet on process and paying claims to those who really need it.
The article quotes a recent Harris poll (http://big.assets.huffingtonpost.com/Harris_Interactive_PollingSummary.pdf) in which “16 percent of surveyed adults have experienced financial hardship while waiting for an insurance claim to be settled or know someone who has”.
At the same time this is going on. The Insurance industry and their lobbyist are trying to get rid of the Consumer Legal Funding Industry. They would rather have it so consumers have only one option, and that option is to take what they think the consumer deserves and not what they are truly entitled to.
Consumer Legal Funding has proven to be a life line for consumers. It has allowed them to pay their mortgage, make a car payment and in some cases simply put food on the table while they wait for the insurance company to determine what they want to give them.
December 28, 2011 at 3:01 pm
This is just terrible! With all of the problems us as consumers already have, now insurance companies are manipulating us and basically messing with out every day lives. It’s just a shame.