Scoring Methodology of Personal Accident Insurance

Scoring Methodology of Personal Accident Insurance


10Life actuaries have compared over a dozen personal accident insurance products in the Hong Kong market, analysing their value from multiple dimensions including death/disability payout, medical expense cover, physiotherapy /bone-setting cover, hospital cash cover and extreme sports coverage. Below are the rating items and weightings:

  • Death/ Disability Benefit Multiplier (30%):
    Compare death/ maximum disability payout as multiple of annual premium
  • Medical Reimbursement Multiplier (30%):
    Compare maximum medical reimbursement payout as multiple of annual premium
  • Physiotherapy/Bone-setting cover (20%):
    Compare the coverage ratio assuming the insured requires the following treatment per accident: i) 5 physiotherapy sessions of HK$500 each; or ii) 5 Chinese bone-setting sessions of HK$200 each
  • Hospital Cash Multiplier (10%):
    Compare daily hospital cash payout (assume for 7 days) as multiple of annual premium
  • Extreme Sports Coverage (10%):
    Score based on whether these common adventurous sports are covered - skiing, scuba diving, parachuting, rock climbing and non-professional bicycle race
The scores are based on the following assumptions:

  • Products with sum assured/ accidental death benefit of HKD 1,000,000 (or nearest) are selected
  • Products with accidental medical expense coverage of HKD 40,000 (or nearest) are selected
  • The occupation of the policyholder is indoor and non-hazardous in nature 
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