The Premium Discount (Dtd 05Jul05)

The person who is supposed to give me an explanation on how the insurance premium emailed me, telling me a big piece of good news.... they are going to give me 10% discount. It is so kind of them *LOL*:

From: "Cyndiie Yong" s000699@income.com.sg
To: XXX@yahoo.com
CC: "Goh Peng Hong" , "Cho Lai Weng" , "Stacia Lim" , "Edwin Wong" , "Belinda Sim"
Subject: Renewal Premium for XXX9999X - Pol no. 0082910147-02
Date: Mon, 4 Jul 2005 18:44:11 +0800

Mr Tan

We have reviewed your case again and are prepared to allow a 10% special discount for this year as the increase for pick-up models are too steep.

The final renewal premium is $1549/-.

regards
Cyndiie Yong
Executive, General Insurance dept
NTUC Income
Cooperative...Your Partner for A Better Life
DID : 6877-3074

See that? They are willing to give me 10% discount, is it because I asked for references or they think that I am a good customer to keep?? I do not have an answer....

Anyway, I still cannot figure out how the sum is derived:

Date: Mon, 4 Jul 2005 20:43:25 -0700 (PDT)
From: XXX@yahoo.com
Subject:
Re: Renewal Premium for XXX9999X - Pol no. 0082910147-02
To: "Cyndiie Yong"
CC: "Goh Peng Hong" , "Cho Lai Weng" , "Stacia Lim" , "Edwin Wong" , "Belinda Sim" bsim@income.com.sg

Ms Yong,

I quote you: "The increase is between 5% to 10%, depending on the make and model of the commercial vehicles."

My gross premium last year was $1207. This year, it is $1722. As you have said, there is an increment of 5% to 10%. The maths is like this:

1722 - 1207 = 515
515/1207 * 100 = 42.67%

How does this related to the 5% to 10% increment you have explained? Can you explain how you have derived at the sum more clearly? With the special discount you have given, 10% discount from $1722 = 1549 is correct. But,

1549 - 1207 = 342
342/1207 * 100 = 28.33%
I still do not see how this is related to the 5% to 10% increment on all makes and models of commercial vehicles. It will be good to hear the calculation from you. Thanks.

Regards,
Tan XXX XXXX

I felt so sad after reading her email........ I totally cannot figure out how the premium is derived..