[Singapore] - Prudential suing Singaporean man for Sg$2.5 billion in damages

[UltimaOnline]

How would you feel if you were being sued for Sg$2.5 billion in damages? Song bo?

https://www.bloomberg.com/news/arti...ded-by-green-eyed-monster-in-1-8-billion-suit

 

[syed putra]

Why can't insurance be sold online with full terms written clearly. Prudential should havevtaken the opportunity to do this when agents left. Cut off agents fees. Make it more affordable for the masses. These agents treat their sales people like crap. Pressure them to sell. No sales they are penalised. And if they leave, the agency collects their commission.
As for medical insurance, private hospitals should be allowed to operate theur own scheme. Cut off unnecessary overheads,. Money collected go into equipment and better facilities for patients.

 

[amransan]

insurance is good if u got extra money but poor people like me i can only work in the company but cant affort to buy one.

and one thing i learned working in big insurance company in singapore that most of the colleagues are fake and horrible people!

one of the worst working experience in my life was to worked in insurance company as mailroom cum despatch!

 

[syed putra]

insurance is good if u got extra money but poor people like me i can only work in the company but cant affort to buy one.

and one thing i learned working in big insurance company in singapore that most of the colleagues are fake and horrible people!

one of the worst working experience in my life was to worked in insurance company as mailroom cum despatch!

They are despicable because tgeur income depends on sales. First year premium goes to insurance company, their agents, nothing to the buyer of policy. Maybe second year too.
Better to buy unit trust..

 

[JohnTan]

How would you feel if you were being sued for Sg$2.5 billion in damages? Song bo?

https://www.bloomberg.com/news/arti...ded-by-green-eyed-monster-in-1-8-billion-suit

This is old news from 2019. Peter and I are good friends. We still meet up for drinks sometimes. He's got Prudential on the ropes and will likely win this case.

 

[amransan]

They are despicable because tgeur income depends on sales. First year premium goes to insurance company, their agents, nothing to the buyer of policy. Maybe second year too.
Better to buy unit trust..

i not sure about the sale of insurance and agents but the policies statement is alot like 15 boxes (A4 boxes) after the it dept print them i have to saperate them one by one accroding to the code. everyday i start work at 9am and finish work at 10 or 11pm. worked for 10 years :(

 

[blackmondy]

When insurance agents start acting like financial advisers, you know something is fishy. It's like a butcher suddenly becoming a fishmonger.

 

[congo9]

These financial product are just crap. Other then buying pte integrated shield and long term insurance plan. All are crap.

 

[congo9]

Why can't insurance be sold online with full terms written clearly. Prudential should havevtaken the opportunity to do this when agents left. Cut off agents fees. Make it more affordable for the masses. These agents treat their sales people like crap. Pressure them to sell. No sales they are penalised. And if they leave, the agency collects their commission.
As for medical insurance, private hospitals should be allowed to operate theur own scheme. Cut off unnecessary overheads,. Money collected go into equipment and better facilities for patients.

I agree. They could have just cut off the intermediaries and offer the product direct at a very affordable rate.

 

[LITTLEREDDOT]

If Prudential wins the case, Prudential does not expect the court to award it $2.5 billion in damages. Prudential wants a landmark ruling to scare the shit out of future agency managers who want to poach insurance salespeople.

 

[congo9]

If Prudential wins the case, Prudential does not expect the court to award it $2.5 billion in damages. Prudential wants a landmark ruling to scare the shit out of future agency managers who want to poach insurance salespeople.

It's free market out there.
If the Principle can't make the outside contractors stay with them willingly, they should just set up the company on their own. They will have full control of what's happening.

It's just crying over a spilled milk.

 

[laksaboy]

Maybe insurance agents need to be managed by professional agents, like celebrities or footballers.

 

[LordElrond]

Maybe insurance agents need to be managed by professional agents, like celebrities or footballers.

I don’t see any value in insurance other than those which comes with a free fuck of chiobu agent

 

[syed putra]

Maybe insurance agents need to be managed by professional agents, like celebrities or footballers.

You need to reform insurance company from the inside. Get rid of the agent structure. Agencies themselves treat threir agents like shit. Agent must pay fees to agencies on top of share commission. And if you fail to meet target after few months, more fines and penalties more or kess forcing you to quit, but agencies collect commission of you clients if agents quit. I smell a rat between the sales insurance people and the agencies.

 

[rushifa666]

Surely its cheapet to just kill him? Like that moneychanger case

 

[CPTMiller]

How would you feel if you were being sued for Sg$2.5 billion in damages? Song bo?

https://www.bloomberg.com/news/arti...ded-by-green-eyed-monster-in-1-8-billion-suit

This one happen years ago?
Why suddenly post old news