Wednesday, March 5, 2008

More Money = More Scholars = More Policies??

I visited many families during my course of work where we can talk about anything under the sky. One of their favourite topic is about their children with their studies or work. Coincidently, I met 4 families recently where their children are under Scholarship with government linked agencies namely DSTA, PSC, MAS and SGH. There seems to be more scholarships given out recently when our country is doing well with fat surpluses.

Our government is spending a lot of money grooming young talents and I think they are doing the right thing. Though I have not done any correlation studies between government surplus = more scholars = more policies, I think there could be a strong linkage between the 3.

There are 2 recent implemented policies which I feel are pushed by people who do not know what is happening on the ground. I suspect that they are implemented by these overseas scholars who have no idea on how these policies will affect people on the ground.

1) Taxi can only stop in Taxi Stands in Central district from 1st Mar 08.
* Try booking a taxi, the operator will tell you to go to a ulu taxi stand which you have no idea where it is
* Try waiting for a cab in some taxi stand. There are no space for queue. No one knows who came first.
* Try telling the driver to drop you at a specific place. They will bring you to a nearest taxi stand, maybe 500meters away from your original destination. You got to walk to your office regardless rain or shine.
* Ask these taxi driver how he feel about this policy. Ask him if he is now avoiding entering CBD area.
* No taxi to CBD area? Next time LTA will raise fare to attract more taxi drivers into CBD. Who suffer? People like you and me lar...
* The people who implement this must be driving their own car, so not affected.

2) The new disclosure policies by Insurance advisers implemented by MAS
* A normally 7-8 pages quotation became 16-17 pages overnight. They feel that everything should be disclosed in a quotation and there are no reason why they should not be.
* I am not against disclosure because it is important to ensure clients know what they are getting.
* I feel that disclosure should comes in 2 layers.
a) 1st layer info consisting of Basic details that affect client decision to get the plan.
b) 2nd layer consisting the good to know info that can be disclosed after the client get the plan and to be included in the policy document.
* Such wordy quotations will only confuse the customer and also to chop more trees in future...

- The root problem lies in Singaporeans not getting the correct advice, not on the product itself.
- The quotations should be simplified in simple English with straightforward points so that the customer can grab the main issues that directly affect them.


Anonymous said...

There is too much for the consumers to take in at one go. As you haave said consumers end up more confusing.
The disclosure may not be necessary for advisers like you but for the majority of the insurance salespeople it is a must, to make thier life difficult and to catch them for comcealment.It is meant for the majority, those cheating unethical agents who spoilt the good names, but unfortunately minority like you got affected. Adrain, you must bear it for the sake of the consumers.

Anonymous said...

anyway, when there was 6 pages, not many customers bother to read all ...
All the best for your rabbit.