Buying insurance – just a bit of a pain in the **** if you ask me! A consumer’s viewpoint
Okay, I admit it, I’m all about online shopping. Being a working mum with two young boys I have no other choice really, as I don’t get the luxury of an afternoon off to hit the shops anymore — which used to be accompanied by lunch and a cheeky cocktail or two! So, I’m all about convenience. This ‘get it done’ approach spans across the whole of my buying needs too; clothes, household items, food, gifts… and insurance. On the whole I find this digital process pretty seamless and stress free.
However, I still hate shopping for insurance.
Why, you ask?
Well it just isn’t simple is it? Firstly, you have to put aside 3 hours just to complete the question set and if you don’t have all the information to hand, the website times you out and you have to start again while you get what you need! It also seems absurd to me the sorts of questions you need to answer; ‘has your house flooded recently?’ What?! I live on the top of a hill, if it has then the whole town beneath me has a problem don’t they?! I’m sure with the sophisticated level of our technology and accessibility of data these days, shouldn’t that be information the insurer can simply get from your post code?
I also like the direct approach if I’m honest, so I’m not into automation such as chatbots. If I need help I want to speak to a person. An actual person. I get that we live in a fast-paced, tech-savvy world, but to me there is nothing like offloading my problem onto a human being. One that can answer whatever question I may have, or if not go ask another human being — not someone that needs it categorising into one of five question sets in order to be able to answer efficiently.
More recently there’s the added obvious irritation of dual pricing — you’re telling me that after years of business from me you’re going to try and charge me MORE for my (exactly the same) renewal? I’m not sure that seems fair. Then ‘Miss New Insurance Quote’ comes along, with the exact same requirements and you charge her less?
However, it’s not all doom and gloom. I do like the ‘always on’ society we have become. I like that if at 2am I decide I want to order a new frying pan (the first thing that came into my head!) then I can, and I also like that in the majority of instances, if I want to make a change to my insurance premium, I can.
So what do I, the consumer, expect?
Nothing out of the ordinary actually. A quick and easy process, with a simple question set that can be completed whilst enjoying a nice brew, and maybe 5 minutes peace and quiet from the kids. That would be a good start!
I want help that’s immediately on hand, and if it has to be a chatbot, I guess I’ll have to get on board with tech — but can they please have the ability to properly offer help and answer my queries?
Finally, make it competitive — give me a reason to stay and not have to shop around. I’m all about convenience remember, shopping around is just eating into my time and that is limited as it is.
What can you, the insurer, do?
Improving your customers’ journey need not be costly or have an impact on your day to day business. Just make each stage of interaction simple and fair. Everything these days is about convenience, and when I say I don’t have time to do stuff, I think I can safely say I’m speaking for 99% of the population. With work, family, friends, life is non-stop.
When it comes to insurance, unfortunately, I think most approach it begrudgingly. No one actually enjoys having to do it, so in the absence of this being a ’chosen activity’ — you the insurer, can make it as pain free as possible.
- Be ‘always on’ and available for real, useful help
- Have a straightforward (reduced) question set
- Use plain English and offer advice/hints and tips where necessary
- Treat us fairly, with deals for existing as well as new customers
Here at SSP we genuinely have the software and solutions that can enable you to give your consumers a simple, stress free service. Intelligent Quotes Hub delivers accurate quotes in real-time, making use of data from a variety of sources to optimise your pricing. Great for you and great for the consumers back pocket — a tick in both boxes! Our digital insurance platform, that not only supports full client self-sufficiency, but also gives the benefit of reducing time to market, with low cost, rapid change for the deployment of new products. It allows you to focus on your business and not technology, amongst a whole heap of other benefits.
All of our products, services and solutions have both you, as well as the end user in mind. We know that by making you happy, we ultimately make your customers happy.
Right, I’m off to buy that frying pan.