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Insurance Business | 12 May 2014, 02:29 PM Agree 0
Brokerages are increasingly picking up the pieces when a customer opts to use online comprehensive coverage, and as one broking boss tells Insurance Business, the problem is getting worse.
  • Mike Sullivan | 13 May 2014, 09:32 AM Agree 0
    well thats all good to tell our colleagues, but we need to tell the public that and the media, ASIC and the legislators ????

  • Mark | 13 May 2014, 09:40 AM Agree 0
    Our industry should be promoting the cover, not just the price, you get what you pay for. Consumers are buying on price, that is very dangerous when trying to protect your biggest assets eg the family home, business assets etc
  • Alex Damon | 13 May 2014, 09:48 AM Agree 0
    Fact of the matter is that SMEs should not be insuring direct at all, whether on line or otherwise, because they have none of the protections that consumers have and have to be their own insurance experts. Ultimately insurers can throw a 100 page policy at them and say "caveat emptor", notwithstanding any possible error in the expert advice the client has received from the 20-year-old at the call centre.
  • Barry Cross | 13 May 2014, 10:14 AM Agree 0
    By all means lobby the insurers and ramp up the fightback rhetoric through the industry broker associations and cluster groups. Closer to home though, brokers should think about investing energy, time and money on building better relationships and communicating their value as a broker with their customers. Doing that may not eliminate client loss but will most likely help reduce it.
  • Rod Parsons | 13 May 2014, 10:36 AM Agree 0
    What a circus of an industry insurance is sometimes. Brokers are so accountable and sitting ducks for PI claims, so we have a plethora of safety measures - day books, file notes, letters of advice, reams of compliance attachments with every new business we send out and audits everywhere.
    Does any of this apply to the direct market?
  • Robert Cooper | 13 May 2014, 11:49 AM Agree 0
    Totally agree with Danny and Natasha. I would like to ask those insurers who are now competing directly on line in the SME area, I know its all about the profit and avoiding insurers but ultimately, you are damaging the industry because you do not have the trained, experience and qualified staff to give the right advice, and you have claims departments that are keen to avoid paying claims where possible. How is that acting in your clients best interests?
    Forget all the legislation protecting consumers, at the end of the day consumers need the right advice and service from people acting in their best interests. Direct Insurers will not spend the money employing people to do that. They aim only for the cheapest most profitable method of selling their products to the public.
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