Smarter insurance
Customer expectations of insurance are being shaped by their experiences with companies in other sectors. John Sills explains how.
Insurance has never been a particularly popular product to buy. People resent paying for something that they probably won’t need. They don’t like being boxed into products alongside average drivers when they believe themselves to be above-average – even though statistics show we aren’t all excellent behind the wheel. People don’t like to feel fear, worry or a legal obligation forcing them to spend money on an 85-page policy document when they’d rather be putting it towards a brand new set of skis.
Against this backdrop in an increasingly-transparent, customer-led and real-time world, insurance is an industry ready for change – and one that is already adapting.
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