Last week’s Supreme Court ruling that ‘collateral lies’ won’t invalidate a claim is a worrying development for the industry. Not just for the precedent it sets but because the widespread publicity it received tells people it’s ok to lie to insurance companies.
Up until October 2015, the proportion of consumers not shopping around at motor insurance renewal had been on a steady increase, with more than one in five consumers accepting their renewal premium without seeking quotes elsewhere between August and October last year – the highest three month period on record.
Asking the wrong question.
I was recently talking to the Managing Director of a large Personal Lines Insurer in the UK. It’s part of my program to make sure that what we do as a business lines up with what our customers want. It also helps me understand where we should go in the future.
As the session wound up I foolishly asked the wrong question:
“What more could we do to help you?”