Brokers may exude enthusiasm, but personal lines still has some work to do
My poor friend. He runs an optical business and is keen to drive growth.
What he wants more than anything is for his staff to be on top of their game polishing the lenses of the glasses, polite to customers and superb at selling ancillary products. But it’s not easy inspiring staff, he sighs.
As I was listening to him, my mind drifted to brokers. Do they have that trouble? No way! As a journalist, I’ve travelled up and down the country speaking to brokers – and their passion never ceases to amaze me.
Their goal is to give top-quality service to the customer. Brokers are passionate about their business and that enthusiasm rubs off on staff.
Let’s not rule out the big guys, either. Having sat in on Insurance Times's IT Pack events, some of the younger generation working for the Ovals and Towergates of this world love the fact they are dealing with decent-sized companies and want to prove their worth.
It is inspiring to see, and it is something not achieved in other industries, as my friend can testify.
Because of this enthusiasm and dedication, the clients trust the broker – but this is a far cry from the way customers feel about direct personal lines insurance.
I monitor the media daily and it’s full of bad stories about direct personal lines insurance, especially with the rising cost of motor.
I get calls from TV and radio wanting to know my opinion on why customers are being ripped off. My friends, like the rest of the mass market, tell me their home and car insurance should be cheap and without hassle. They’re furious when a claim is disputed.
Everyone has a bad story. It’s a paradox: price comparison sites and direct players have been brilliant at giving what the customer demands: cheap prices. At the same time, customers also expect immaculate standards. They want compensation to be swift and full in the event of a claim.
So for all the good the Chartered Insurance Institute is doing, it faces a massive task in changing people’s perception of direct personal lines insurance. It’s not going to happen any time soon. Back to you, Mr Broker.
Saxon East, assistant editor, news, Insurance Times
