The Best Business Ideas Can Come From Personal Pain | Asia Tech Podcast

The Best Business Ideas Can Come From Personal Pain | Asia Tech Podcast


– InsureVite is a bit more personal. So, it actually happened when my daughter, my first daughter was born. So, she has severe jaundice. So, she was actually hospitalized. But before she was born actually, we got her hospitalization policy. So in case, when she was born, and there’s some health problems, and she was hospitalized,
we can claim from there. So, jaundice is one of the claimable one. So, when she was hospitalized
for severe jaundice, we actually ask our
agent for a claim form. Took her two weeks to come
back to us with a form, which is actually PDF,
she can actually send us, but took her two weeks. – [Graham] Two weeks. – Two weeks. – [Graham] Why? – I don’t know, for
reasons known to herself. – [Graham] Oh, okay. – And then, yeah, so when she send to us, we actually have to
quickly get all the data, all the necessary documents, and then we have to actually mail it out. So, what happened was that
when we mailed it out, finally, the insurance came back and say, okay, you have actually
missed the deadline of– – [Graham] No way. – Yes, it happened. So, you missed the deadline
of submitting a claim. So they cannot approve it. So, I was actually quite agitated. I say, why can’t we just automate
this process or something? I can do it right in the hospital myself, I mean if I can automate it.
– [Graham] Why not? – Why, why not? So I don’t have to wait. – Did that cost you financially? – Well, it’s not a huge
amount, a few hundred dollars. Yeah, but the experience tell me that our agents are mainly
focused on closing sales. – [Graham] Not actually
servicing you, yeah. And I suppose, I think,
beyond the actual money, it’s the hassle and the agitation. At that point, the last thing you wanna worry about is a form. You wanna worry about your daughter, and your wife, obviously. And the last thing is chasing
up an insurance agent. That’s quite stressful, isn’t it? – Yeah, every day, of just
know looking at your handphone, like has she replied, has
she replied, has she replied? – [Graham] Yeah, right. And then, you see those
ticks on your WhatsApp, but there’s no response from there. So, it kind of like gets you up, and then your daughter is
there, under the purple, like the blue lights, you know, trying to, so you’re like, you know, be busy, running around,
worry about my daughter, and on the other hand, I have to keep on chasing
her for a simple form. – Yeah, I wonder as well, I mean jaundice in babies is quite common, isn’t it. It’s not a rare, rare
condition, it happens. – Yeah, it’s quite common, especially in this part of the world, so– – I can’t imagine, two weeks, to send it. Anyway, so yeah I know, let’s not give your ex-insurance
agent too much air time. So how do you deal with that problem because it’s systemic, isn’t it? You got the systemic problem where the insurance broker is incentivized to sell policies to
people like you and me, but not incentivized
to service that policy. The insurance company would have some kind of claims department,
right, and deal with it, but, you know, it’s quite bureaucratic. How do you deal with that, when you have such a systemic issue?

Leave a Reply

Your email address will not be published. Required fields are marked *