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Insurance Business | 06 Nov 2015, 12:46 p.m. Agree 0
One of NZ’s largest retailers has launched a new financial services brand which offers five insurance products enabled by joining forces with two key insurance players.
  • Perception | 06 Nov 2015, 04:09 p.m. Agree 0
    How to make a professional product a commodity. Have the insurers learnt nothing.
    Worst of all . How many buyers of insurance products understand what they are buying . MAYBE ITS WHO CARES !
  • Boomer | 09 Nov 2015, 11:17 a.m. Agree 0
    The Warehouse - where everyone gets a bargain!
    Only time will tell if this is a good move by Vero but it does serve to distance them even more from the professional intermediary market. "... squark ...Can we have an insurance team leader to Aisle 3 please. Nasty contents claim to report!!!"
  • Perception | 10 Nov 2015, 02:24 p.m. Agree 0
    Awesome!
    Mean while the customer waits and waits and waits . So they get someone from the gardening section to deal with the customer
  • Snooze or lose | 12 Nov 2015, 03:43 p.m. Agree 0
    But are we not all responsible (including brokers) for making insurance a commodity with micro SME clients being pushed into facilities everywhere you look? Is the level of customer care that much greater?

    Alternative distribution is here to stay and will only increase and the professional intermediary needs to do more to differentiate so that customers recognise the value they add as a distribution channel and as a partner - they will never be able to compete on price with more direct methods of distribution and nor should they.

    Giving a customer choice in how they purchase is not the issue - the issue is brokers remaining relevant when this is happening all around them more and more.
  • Perception | 13 Nov 2015, 01:44 p.m. Agree 0
    Absolutely spot on. Yes we as brokers are responsible to provide top level service to show that point of differentiation.
    But we have a challenge . We in the industry know what the covers are supposed to do and we understand the mechanics of the policies. However for the man on the street he sees the insurance product as complex and balanced against that maybe in probability his claim will not be paid. Thus he in his/her form of rationality determines this balance by buying insurance for the cheapest price.
    We in our industry including insurance companies do not do our selves any favours.
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