WRLife medical insurance - experiences?

[Etaoin Shrdlu]

16 minutes ago, scubascuba3 said:

I recall going to Lloyds of London a couple of times and on the Underwriting floor i think they had many desks each with a couple+ people representing different companies

Lloyds is really an interesting place with much history. Lots of very specialized risk and insurance knowledge among the Lloyds brokers and underwriters. 

[KannikaP]

Got a reply from WRLife, simply Lorentz Capital Ltd, nothing more.

On Googling it, I find it was a dissolved company in UK several years ago, something about Lorentz in Texas and Australia.

I feel very unsure about this company, so I shall be cancelling the policy, lost £1400, but better than going long term with them as there are no references to claims anywhere on t'Internet.

I shall 'self insure' or die!

Edited August 8, 2022 by KannikaP

[KannikaP]

Reply from WRLife (or is it WrLife) after cancelling my policy.

 

This is cancelled, you are right better to pay a more expensive premium for the same service.

 

[Etaoin Shrdlu]

14 minutes ago, KannikaP said:

Reply from WRLife (or is it WrLife) after cancelling my policy.

 

This is cancelled, you are right better to pay a more expensive premium for the same service.

 

 

 

Something is not right if a policyholder asks for clarification of the status of their insurer or broker and does not receive a satisfactory answer.

 

I would say that it is better to pay a higher premium to an insurer that has a satisfactory rating from Standard & Poor or AM Best, has an established track record of paying claims and does not dodge questions about its status.

[Etaoin Shrdlu]

42 minutes ago, KannikaP said:

Got a reply from WRLife, simply Lorentz Capital Ltd, nothing more.

On Googling it, I find it was a dissolved company in UK several years ago, something about Lorentz in Texas and Australia.

I feel very unsure about this company, so I shall be cancelling the policy, lost £1400, but better than going long term with them as there are no references to claims anywhere on t'Internet.

I shall 'self insure' or die!

Lorentz is the surname of one of the principals of WRLIfe LLP:  

https://find-and-update.company-information.service.gov.uk/company/OC401682/officers

 

Is that supposed to be the security behind the insurance WRLife provides?

[RanongCat]

19 minutes ago, KannikaP said:

Reply from WRLife (or is it WrLife) after cancelling my policy.

 

This is cancelled, you are right better to pay a more expensive premium for the same service.

 

Is  a "cryptic" response  maybe? Have Policy with  WrLife but nevr yet  made a claim. Nice people in Bangkok  gave first premium discout as per promotional offer I not see.

[jerrymahoney]

I will submit this which I have mostly posted elsewhere:

 

After almost 15 years with BUPA/Thailand and Cigna Global with no claims, I switched to WRLife. The primary reason for the switch was that I moved to an area with no direct pay by Cigna Global and I found that unacceptable. 

 

Within 2 months of the new policy, I had an accident and fractured my hip. The claim for hip replacement was paid in full by WRLife.

 

Thank you. No follow-up, please.

[Etaoin Shrdlu]

48 minutes ago, KannikaP said:

Got a reply from WRLife, simply Lorentz Capital Ltd, nothing more.

On Googling it, I find it was a dissolved company in UK several years ago, something about Lorentz in Texas and Australia.

I feel very unsure about this company, so I shall be cancelling the policy, lost £1400, but better than going long term with them as there are no references to claims anywhere on t'Internet.

I shall 'self insure' or die!

Lorentz Capital Ltd appears to be a dormant company in the UK with paid up capital and cash in the bank of $400,000. 

 

https://find-and-update.company-information.service.gov.uk/company/13131191/filing-history

 

Same person appears as director of Lorentz Capital Ltd as WRLife LLP.

[KannikaP]

The CEO of WR Life, Patrick Lorentz, sent me the phone number of someone in Pattaya who has had millions paid out by them for Cancer treatment, and had no problems whatsoever. But that's only ONE patient.

Edited August 8, 2022 by KannikaP

[scubascuba3]

16 minutes ago, jerrymahoney said:

 

 

2 minutes ago, KannikaP said:

The CEO of WR Life, Partick, sent me the phone number of someone in Pattaya who has had millions paid out by them for Cancer treatment, and had no problems whatsoever. But that's only ONE patient.

could you even believe it, that doesn't explain why they are so cagey about who underwrites them and the regs

Edited August 8, 2022 by scubascuba3

[Etaoin Shrdlu]

3 minutes ago, KannikaP said:

The CEO of WR Life, Partick, sent me the phone number of someone in Pattaya who has had millions paid out by them for Cancer treatment, and had no problems whatsoever. But that's only ONE patient.

That's a good sign, but could Patrick also provide information with respect to the identity of the insurance company that is actually providing the coverage? A professional insurance broker has no reason to withhold this information and very good reasons for disclosing it.

 

If WRLife is actually an insurance company and not a broker, can Patrick provide information on where one can find financial reports or ratings from rating agencies that would provide an indication of its financial strength?

 

Testimonials can be useful, but are not a substitute for proper due diligence.

[KannikaP]

44 minutes ago, Etaoin Shrdlu said:

That's a good sign, but could Patrick also provide information with respect to the identity of the insurance company that is actually providing the coverage? A professional insurance broker has no reason to withhold this information and very good reasons for disclosing it.

 

If WRLife is actually an insurance company and not a broker, can Patrick provide information on where one can find financial reports or ratings from rating agencies that would provide an indication of its financial strength?

 

Testimonials can be useful, but are not a substitute for proper due diligence.

Looks like Partick LORENTZ is the CEO of the USA & Oz companies. Eggs in one basket?

[bradiston]

On 8/7/2022 at 11:36 AM, bradiston said:

I'll check out AA. Thanks. Any reason for the "dubious" connotation, apart from what appears to be a very low profile?

Going to drop by AA tomorrow. They're up there next to Big C on corner of Pattaya Tai. Spoke to rep.

[bradiston]

On 8/7/2022 at 11:36 AM, bradiston said:

I'll check out AA. Thanks. Any reason for the "dubious" connotation, apart from what appears to be a very low profile?

Going to drop by AA tomorrow. They're up there next to Big C on corner of Pattaya Tai. Spoke to rep.

[internationalism]

she is good [email protected]

not sure what office she is working from. Might be working as well from home.

The AA usually recommends the pacific cross plus another one for choice/comparison.

For cheaper insurance, bridging my 300k deductible, she recommended Thai Health and Viriyah

 

Edited August 8, 2022 by internationalism

[Sheryl]

That they have so far paid Claims is no assurance they will be able to continue to so. Especially given what seems to be very low capital. And what to me is a financially unsustainable  business model. 

[bradiston]

5 hours ago, Sheryl said:

That they have so far paid Claims is no assurance they will be able to continue to so. Especially given what seems to be very low capital. And what to me is a financially unsustainable  business model. 

I'm interested to know how you deduce "very low capital". Is there a source for this? And their business model? Is this guesswork or data based? 

[bradiston]

11 hours ago, KannikaP said:

Reply from WRLife (or is it WrLife) after cancelling my policy.

 

This is cancelled, you are right better to pay a more expensive premium for the same service.

 

Are you saying they wrote to you saying you were right to cancel and look elsewhere? That's beyond weird.

[bradiston]

12 hours ago, KannikaP said:

Got a reply from WRLife, simply Lorentz Capital Ltd, nothing more.

On Googling it, I find it was a dissolved company in UK several years ago, something about Lorentz in Texas and Australia.

I feel very unsure about this company, so I shall be cancelling the policy, lost £1400, but better than going long term with them as there are no references to claims anywhere on t'Internet.

I shall 'self insure' or die!

How has it cost you £1400? You paid a year up front, but no refund?

[malathione]

7 hours ago, internationalism said:

she is good [email protected]

not sure what office she is working from. Might be working as well from home.

The AA usually recommends the pacific cross plus another one for choice/comparison.

For cheaper insurance, bridging my 300k deductible, she recommended Thai Health and Viriyah

 

Jenny works out of the Hua Hin office.

[KannikaP]

2 hours ago, bradiston said:

How has it cost you £1400? You paid a year up front, but no refund?

£211 per month for 7 months = £1477

[KannikaP]

11 hours ago, bradiston said:

Going to drop by AA tomorrow. They're up there next to Big C on corner of Pattaya Tai. Spoke to rep.

A rep at AA in Pattaya suggested using WRLife, but I wasn't totally convinced. I took out a policy 6 months ago, but have now cancelled it as I am unsure whether or not they would be able to pay out a claim after reading their financial accounts.

[KannikaP]

Just seen this on the WRLife website......believe it or not.

 

BREAKING NEWS!
Older than 65 - after 6 months - reimbursement for pre-existing conditions (inpatient) such as:
Hypertension and cardiovascular disease, all tumors, polyp or cyst, hernias, hemorrhoids, prostate disease, diabetes, cancer, cholecystitis, cholelithiasis, urinary tract calculi.

 

[Etaoin Shrdlu]

4 minutes ago, KannikaP said:

A rep at AA in Pattaya suggested using WRLife, but I wasn't totally convinced. I took out a policy 6 months ago, but have now cancelled it as I am unsure whether or not they would be able to pay out a claim after reading their financial accounts.

This is a bit surprising given that WRLife appears to be an insurance broker and not an insurance company. In most situations, a broker would be reluctant to refer their client to another broker. However it is possible that AA believes WRLife to be an insurer.

 

Many insurance brokers have market security standards and will review insurers' financial status and claims-paying ability (and willingness) before they will place their clients' business with them. It would be interesting to ask AA if they have sought to perform due diligence on WRLife and ask them what they found.

 

[jerrymahoney]

23 minutes ago, Etaoin Shrdlu said:

This is a bit surprising given that WRLife appears to be an insurance broker and not an insurance company. In most situations, a broker would be reluctant to refer their client to another broker. However it is possible that AA believes WRLife to be an insurer.

 

Many insurance brokers have market security standards and will review insurers' financial status and claims-paying ability (and willingness) before they will place their clients' business with them. It would be interesting to ask AA if they have sought to perform due diligence on WRLife and ask them what they found.

 

APRIL, insurance made easy
APRIL is the leading wholesale broker in France with a network of 15,000 partner brokers.

https://www.april.com/en/about/

 

Edited August 9, 2022 by jerrymahoney

[Etaoin Shrdlu]

14 minutes ago, jerrymahoney said:

APRIL, insurance made easy
APRIL is the leading wholesale broker in France with a network of 15,000 partner brokers.

https://www.april.com/en/about/

 

From April Thailand's website, it looks like they use LMG's Thai operation to provide medical insurance locally.

 

I am aware that April may offer medical insurance directly from their office in France, but I don't know which insurers they use.

 

April Thailand is quite straightforward in stating their status as a broker and the insurer they use locally. I believe that their office in France would be equally transparent. Perhaps someone who has used April's French office could take a look at the policy that April sent them and advise which insurer issued the policy.

 

If either April Thailand or April France refers or places business with WRLife, it would be interesting to see what April has to say about WRLife's status.

[bradiston]

1 hour ago, Etaoin Shrdlu said:

This is a bit surprising given that WRLife appears to be an insurance broker and not an insurance company. In most situations, a broker would be reluctant to refer their client to another broker. However it is possible that AA believes WRLife to be an insurer.

 

Many insurance brokers have market security standards and will review insurers' financial status and claims-paying ability (and willingness) before they will place their clients' business with them. It would be interesting to ask AA if they have sought to perform due diligence on WRLife and ask them what they found.

 

You can go and talk to them in their office if you're in Pattaya. If you're considering signing up with Wrlife it's probably highly advisable. 

[scubascuba3]

25 minutes ago, bradiston said:

You can go and talk to them in their office if you're in Pattaya. If you're considering signing up with Wrlife it's probably highly advisable. 

or whoever has Wrlife already should go and see AA who can talk through their due diligence...

 

TBH those signed up already haven't done due diligence, it appears they were intoxicated by the lower premiums

Edited August 9, 2022 by scubascuba3

[jerrymahoney]

46 minutes ago, scubascuba3 said:

TBH those signed up already haven't done due diligence, it appears they were intoxicated by the lower premiums

So it appears to you.

[scubascuba3]

4 minutes ago, jerrymahoney said:

So it appears to you.

would be interesting to hear what due diligence you did? maybe it answers the questions on this thread