Question

discuss the key shortcomings that may render the desire to offer quality services to the public by the insurance companies an impossibility

the answers should be in essay form

Answer 1

Insurance companies are established with the view to protect and compensate the insured in times of damage but they are some shortcomings that hamper the delivery of quality services by them. One of such shortcoming is the length of time they take at the time of releasing the claim amount. Moreover, the process of filing documentation and lengthy legal formalities involved during the claim time is tedious and tiring that makes it difficult for the customer to survive the time of damage. Secondly, it intentionally tries to compensate less in order to maximize its own profit.