Consumers want insurance tech or they will consider moving
The rise of technology in the financial services sector is set to surge and a poll of consumers in Europe shows that they are willing to change providers if their tech needs aren’t met.
More than a third (37 per cent) of those surveyed by Fujitsu said they would change their insurer or bank if they didn’t offer up-to-date solutions to aid interaction.
“Today’s customers are no longer guarded,” said Francois Fleutiaux, Senior Vice President and Head of Sales, EMEIA, Fujitsu. “When it makes interaction more convenient they are willing to embrace innovation. They may not know where they need it until it is offered, but this is where technology comes to the fore - it is the engine that is driving consumer expectations forward and the financial services sector has to live up to this new pace of change.”
While the biggest tech names have not entered the insurance market so far; except for Google’s short-lived comparison service Google Compare; the Fujitsu poll found that a fifth of the 7,000 consumers questioned, would consider buying insurance from Google, Amazon or Facebook.
Another important takeaway from the survey is that 97 per cent of respondents are happy for insurance firms to use their data to offer them a wider range of services. This includes 59 per cent who would be happy if insurers’ use of their data could lower their mortgage premium; 47 per cent who would allow its use so insurers could recommend products and services; and 36 per cent who would like them to use data to help improve their credit rating.
Arizona joins Children’s Health Insurance Program
Arizona is to join the other 49 states in providing a health program for children of low-income families. KidsCare in Arizona will be introduced following a decision by the state legislature Friday. The program, Arizona’s version of the federal Children’s Health Insurance Program was put on hold in 2010 due to budgetary issues.
Arthur J Gallagher acquires Winnipeg agency
Arthur J Gallagher has added BR Rhymer Insurance of Winnipeg to its growing firm. The acquisition was by the international division of the firm and BR Rhymer will now be part of AJG Canada having operated under a franchise agreement for more than 20 years.
Arthur J Gallagher is seeking further Canadian partnerships and states on its website: “In Canada, we are seeking to expand our reach and add to our family of expert resources to better serve our clients.”
It is understood that the Winnipeg brokerage, which trades as Ranger Insurance, will continue to operate from its existing office post-merger but that founder Blaine Rhymer will be retiring.
