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Insurance Business | 29 Nov 2013, 07:10 AM Agree 0
An industry body has revealed some startling statistics about policyholders as it goes lives with a public initiative to demystify insurance.
  • Jak | 29 Nov 2013, 09:09 AM Agree 0
    What the !!!

    Insurance is not a "promise", it is a contract, and if the ICA wants to make, " easier for consumers and businesses to make better decisions about protecting their most valuable assets...", it should be hounding governments to have part of every secondary school curriculum include insurance as a component of their core subjects.
    No insurance; means no business or commercial life, because without insurance the world stops.
    Or is that too simple to understand, but to hard to 'sell' ?
  • Gary Everdell | 29 Nov 2013, 09:32 AM Agree 0
    Jak , has made a valid point. With more "advertised" deaths on the roads - and its getting this way with "insurance loss" (domestic mainly) - why does the ICA & NIBA look to get the Education system into the frame with at least the basic's of a persons needs taught in Schools ??

    Could easily save an awful lot of drama at some stage into peoples future lives !
  • Stuart | 29 Nov 2013, 10:21 AM Agree 0
    I too am confused at the alleged benefit of this. If 44% admit to not reading their policy wording, what makes anyone think more will read a guide. Certainly in the domestic arena, there are still many purchases that are made on price and not actual value. Consumers seem not to be interested in understanding or knowing what they purchase and yet, wont think twice about complaining when they dont get what they expect.
  • Mark | 29 Nov 2013, 12:22 PM Agree 0
    I wonder what % of domestic purchases are made purely on price and with no regard for the cover? Would 80% be a fair guesstimate?

    Thats the problem with direct/challenger brands starting to offer business insurance - the client sees the cheap premium for their home and makes the switch, then takes the business pack too. It doesnt matter that in the event of a loss the client will be the one who is affected....
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