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Date: Jan. 11, 2024, 9:29 p.m.

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Date: 2024-01-12 08:44:52.000000

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Date: 2024-01-12 14:47:23.000000

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Claim Settlement Report

Published by Insurance Commission(IC) on Jan. 11, 2024.
Requested from IC by J. Tolentino at 09:29 PM on Jan. 11, 2024.
Purpose: Research. Financial Literacy of OFW's in the UAE.
Date of Coverage: 01/11/2013 - 01/11/2024
Tracking no: #IC-786151640240

J.TOLENTINO Jan. 11, 2024, 9:29 p.m.

Hi, I would like to request the claims reports of all the life insurance providers in the Philippines, similar to those provided by insurance companies in the UAE. 1. Claim Settlement Ratio indicates the percentage of insurance claims the company has settled. 2. Claim Settlement Ratio by Amount reveals the total amount of money paid out in claims. This helps to understand if the company is reliable in settling large-value claims. 3. Claim Repudiation/Rejection Ratio shows the percentage of claims rejected by the company. Here's an example: https://www.zurich.ae/claims-report-2023 Regards!

E.IGNACIO Jan. 12, 2024, 8:44 a.m.

January 12, 2024 Dear Mr. Tolentino, Thank you for your request dated Jan 11, 2024 under Executive Order No. 2 (s. 2016) on Freedom of Information in the Executive Branch, for Claim Settlement Report. We received your request on Jan 11, 2024 and will respond on or before Feb 01, 2024 09:29:17 PM, in accordance with the Executive Order's implementing rules and regulations. Should you have any questions regarding your request, kindly contact me using the reply function on the eFOI portal at https://www.foi.gov.ph/requests/aglzfmVmb2ktcGhyHAsSB0NvbnRlbnQiD0lDLTc4NjE1MTY0MDI0MAw, for request with ticket number #IC-786151640240. Thank you. Respectfully, Edmar Ignacio FOI Officer

A.VINZON Jan. 12, 2024, 2:47 p.m.

January 12, 2024 Dear Mr. Tolentino, Greetings! Thank you for your request dated Jan 11, 2024 09:29:17 PM under Executive Order No. 2 (s. 2016) on Freedom of Information in the Executive Branch. Your Request You asked for Claim Settlement Report. Response to Request In relation to your request, while our aim is to provide information whenever possible, in this instance this Commission does not have data on claims settlement of individual life insurance as advised by our Statistics and Research Division (SRD). For queries/clarification you may reach our SRD through telephone number 85238461 loc. 122 or email at [email protected]. If you are unhappy with this response to your FOI request, you may ask us to carry out an internal review of the response by email at [email protected]. Your review request should explain why you are dissatisfied with this response, and should be made within 15 calendar days from the date when you received this letter. We will complete the review and tell you the result within 30 calendar days from the date when we receive your review request. If you are not satisfied with the result of the review, you then have the right to appeal to the Office of the President under Administrative Order No. 22 (s. 2011). The quality of services you deserve matter to us. To help the Insurance Commission monitor the progress in improving its services, we appreciate accomplishing the Customer Satisfaction Surveys (CSS) through the following link: https://bit.ly/ICCustomerSatisfactionSurvey Thank you. Respectfully, Atty. Albert Lawrence Vinzon FOI Decision Maker

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