Quality rather than price says Endsleigh’s Ian Passmore
Ian Passmore, managing director of Endsleigh Insurance wants to get away from chasing cheaper premiums and concentrate on quality, the Times reports.
“The mass insurance business is getting stuck in the same situation as the telecoms business. There is more and more pressure on price as people start to shop only on that basis — and the more they move around, the more distrust there is.
“I’m not saying there is anything wrong with choice, but, if you get obsessed with price alone, then you go down a line that doesn’t necessarily serve the customer best.”
Trust and motivation
“What I mean is having someone you can trust to deliver, that you know is motivated to do well for you, so that you don’t feel you need to look somewhere else.”
Endsleigh expects to record a pre-tax profit of £14m for this year, 30% up from last year, despite top-line revenues remaining pretty flat. Part of that profit growth comes from closing offices in order to focus on online services.
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