It is like making something out of thin air. What rubbish...
I can also say Singapore economy could reduce in half by 2040 with my hocus pocus science, data and bogus AI.
Because the insurance industry knows they can and will get away with not paying out even if the claims are legit.
They know that in order to have their decision reviewed and overturned, the claimants need to turn to the courts.
This will be a long and expensive exercise that stops most common folks from persuing and thus make them give up on the claims.
We need an insurance industry ombudsman, who can look at decisions made by insurance companies and review them and make legally binding decisions for the claimants.
The ombudsman only requires a small admin fee to review the case and make a decision on the claims. It is also quite a fast process versus the courts.