Market analysis helped measure the success of Flood Re for customers and the industry.
Data analyst Consumer Intelligence has been shortlisted for the power of its research in helping Flood Re to measure the success of the scheme to make property insurance more affordable and available for customers in flood-risk areas.
Its Home Insurance Availability and Affordability Research has been shortlisted by Insurance Post in its Marketing & PR Awards for Research/Public Affairs Campaign of the Year.
The Bristol-based company was commissioned by Flood Re in 2015 to evaluate whether the scheme was working in practice and how it could be improved using its specialist consumer insights and analysis.
It designed a system to collect information from customers and to then run their real-life quotes through two direct insurers and two price comparison websites. In total 2,752 flood risks were collected and detailed analysis of customer experiences was supplied to Flood Re.
Its analysis showed that pre-launch just 9% of those who had made flood-related claims could get quotes from two or more insurers. Currently 81% of households that have made claims can access 10-plus quotes and the number of insurers backing scheme has grown from 16 to 60.
Flood Re’s Communications and Transitions Director Dermot Kehoe said the “rigorous, robust and above all credible work that Consumer Intelligence have done on our behalf has been invaluable [in demonstrating that Flood Re was fulfilling its public purposes].”
Ian Hughes, Chief Executive of Consumer Intelligence said: “Flood Re has succeeded to the relief of thousands of customers and we are delighted to have played a part and excited to be nominated for our work.”
Winners of the Insurance Post Marketing & PR awards, which are now in their fourth year, will be announced on September 12th at the Marriott Hotel, Grosvenor Square, London.
Notes to Editors
For further information, please contact:
Citigate Dewe Rogerson
Kevan Reilly/ Jonathan Flint
About Consumer Intelligence
Consumer Intelligence (CI) is data analytics company that helps businesses execute great customer strategies. For 15 years the company has been benchmarking the insurance market and retail banks in the UK and beyond. The unique combination of benchmark data, consumer research and extensive experience has helped some of the world’s major brands focus on delivering better services to customers and improving their own business performance as a result. For more information, visit the website www.consumerintelligence.com
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