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Insurance Business | 11 Apr 2014, 09:37 a.m. Agree 0
Kiwi insurers and brokers should not feel threatened by what comparison sites can offer, says ex-Vero CEO, and should sign up now rather than risk damaging their brands.
  • Cynical | 11 Apr 2014, 12:47 p.m. Agree 0
    Yes, the life insurance has had rating houses for the last 10 years. And in this time insurers have included every bell and whistle as they try to chase ratings. The end result has been over complicated products with ever increasing premiums. This is actually less customer focussed!
  • Perception | 14 Apr 2014, 05:26 p.m. Agree 0
    buying insurance on line is hazardous. The keynsian theories of economics (rational man) does not exist. Buying of products services is based on behaviour of the buyer. The human mind is to lazy to pick up all the factors in making such an important decision so they will always go for price or on what their friend buys. Insurance needs to be understood and not purchased as a commodity
  • Consumer | 16 Apr 2014, 12:31 p.m. Agree 0
    People have been buying general insurance online in more mature markets such as the UK for years, there is no doubt that Kiwi's are as sophisticated as those in the UK. The current acquisition method is usually via phone, surely this is equivalent to online, there is no education or comparative process when someone buys directly? The resistance by insurers to go on these types of products is purely profit led and certainly not led with any ethical or consumer thought.
  • Perception | 16 Apr 2014, 01:15 p.m. Agree 0
    Define sophistication. How many times do we in the industry have to continually hear the common complaint from our clients "nobody told me this " or Policies are so full of jargon and not in plain English' or "typical its always in the fine print"
    We should also not forget that the population base in the UK is so much different . It is a different market size.
    The other aspect is the environment of the insurance industry. Young people make a choice to go into either the trades , the professions , banking or Insurance . The level of respect for the industry in the UK is totally different.
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