I was recently in a franchise coffee chain (think Battlestar Galactica) when it dawned on me how complex and diverse the product spectrum is for buying a humble cup of coffee. Its not unlike insurance in the sheer choice and initial helplessness of the uninitiated consumer. There are literally umpteen different combinations and I can at any time choose to bolt on foodstuffs to my purchase that may or may not compliment the drink, the price of which is affected whether I drink in or out.
We the consumers can decide the size, concentration, milk type, topping, syrup, temperature, sweetness and serving vessel. Mine’s usually; “a skinny medium vanilla latte with sugar free syrup to take away”. But where on earth did I learn to order that little concoction? Well, I persevered with the confusing product menu, listened to other customers as I ordered a basic cappuccino and asked people I knew. Once certain of my ability to branch out and delve deeper into the menu, I strolled confidently upon the barista and fired off my best jargon to source my very own custom made product. I had taken control of my coffee consumption.
Could this be true for buying insurance as well?
Insurance customers also follow the crowd, surf the comparison sites and go for what they know. Like the coffee chain, a customer has a brilliantly diverse choice of what to spend their hard earned sterling on. I expended a lot of effort just to spend a couple of quid and once I have drunk it, its not much use to me. Insurance is a different ball game entirely, you have it for a year and its there as a reserve in case some mini disaster or unexpected event strikes. I am confused as to why a customer wouldn’t want to understand its complexities more. Lets be honest, coffee is coffee, just because someone calls it “skinny” or “grande” its still coffee…perhaps i am just an insurance geek in this regard.
My understanding of the coffee process is still limited, for example; a friend recommended I try the latest Caramel Macchiato. I have no idea what that is or how it differs from my staple consumption of Latte (how do you pronounce it anyway?), but I soldiered on and found that when made “skinny” and sugar free, this beverage was a new Insurance4everyone favourite.
It was only when I was at the head of a line serviced by a new shop trainee that I realised this world of complexity had a lot to teach my business of retail insurance. A coffee shop, after all, must outline the options available to a customer and sell them their product quickly and succinctly. Standing there, witnessing the panic on the new sales assistants eyes as I rattled out buzzwords like “skinny”, “light” and “medium” (yes I do not use another language to indicate the size of the drinking vessel, medium will do fine) it became all to clear that we as an industry take for granted the lingo and sheer volume of choice we provide for clients. His black felt tip frantically trying to tick the right boxes and his pricing stacked up to include the syrup and discount the fact i wouldn't require a seat. Are you seeing the parallels to insurance yet?
All this effort, just for a good old cup of Joe (as our cousins call it); so I was once again reminded about the customer we serve at our insurance shop. It has now sparked a frappucino of ideas about how we talk to you, present our product selection and help you understand the differences between them. If my experience in the coffee franchise is anything to go by, not only do customers not like to ask when they don’t understand, brands often have no problem fitting their own jargon into the customers order. In the case of insurance, the culture imposed is not user friendly in the slightest and our product, lets face it, is not as well regarded as a mocha.
For coffee this might fit the style and become the brand, for insurance, things are clearly different. This has been our attitude in shaping our brand strategy for 2010, by applying 0% gimmicks to what we do and focusing on the service, product and customer understanding, we're confident our shop will be a great place to buy your insurance.
If you, as customers, have any peeves or ideas about how you buy insurance. Let us know, we love a good debate on operations…
James*
Branding & Marketing
Hello insurance shoppers!
This is just a heads up to let you know our customer service centre opening hours over the festive period.
We will be giving our team a well deserved break, if you have any urgent quote requirements or product enquiries, please do get in touch. While we are out of office, our call line will still be open for messages- so we will know you have called and be in touch as soon as we can!
Over the Christmas and New Year period our office hours will be as follows
| Thursday 24th December | Open 9.00 am to 1.00 pm |
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| Closed |
| Monday 28th December | Closed |
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| Closed |
| Wednesday 30th December | Open 9.00 am to 4.00 pm |
| Thursday 31st December | Open 9.00 am to 4.00 pm |
| Friday 1st January | Closed |
| Monday 4th January | Open 9.00 am to 5.00 pm as normal |
Boutique Handbag Insurance has arrived, allowing savvy women over 21 years old to protect their bag and its contents against theft or damage from just £5 per month. Getting that stylish look can take up lots of time and money, thankfully insuring it doesn’t.
Online shop insurance4everyone has announced that the product is to go on sale with immediate effect. Unlike other handbag insurance products, Boutique covers 'any bag' - the handbag you are carrying at the time of the loss, rather than a specific pre-notified bag. This makes Boutique a practical and affordable way for women to protect their prize possessions.
Many women will admit to carrying their life in their handbag. It is distressing enough if this is lost or stolen, but it is often on replacing the bag and its contents that the true value is revealed - and it can be a shock. With a purse, mobile phone, digital music player and cosmetics your handbag’s loss can prove costly to replace. ‘Boutique’ gives women the peace of mind that, when the worst happens, they are protected.
"We understand that women use a variety of different bags, depending on their daily needs," says James York, co-founder of insurance4everyone.co.uk. "Boutique is designed to cover any one bag the policyholder uses at a time; it's simple, quick to buy and flexible. We know that these bags can cost a lot and they're packed with cosmetics and gadgets which modern British women can't live without. We're here to cover against the worse case scenarios."
Boutique provides market-leading cover for both the handbag and those high value items inside. Alongside this wide-ranging cover, it also provides 60 days worldwide cover at no extra cost. ‘Boutique’ can be purchased in minutes online at insurance4everyone.co.uk. Product documentation is emailed to the shopper straight away after purchase, making it quick and easy to arrange cover.
"Boutique is a cheaper and more flexible option to the alternative of naming or adding items to 'all risk' cover on existing home insurance, which can substantially increase the premium and often requires a detailed list of the items to be covered," explains Geoff Hall at insurance4everyone.co.uk.
Boutique has two optional levels of cover, £800 or £1,000 and can be purchased online quickly and easily at www.insurance4everyone.co.uk.
For further information, contact James York at james@insurance4everyone.co.uk
Notes for editors:
§ Available for applicants over the age of 21 years.
§ Insurance4everyone.co.uk is the UK's vibrant and friendly insurance retailer, with 0% gimmicks. We provide fast online quotes and stock affordable insurance products from an independent and trustworthy source.
§ Insurance4everyone has chosen Berkeley Alexander Ltd, part of one of the UK's largest insurance brokers to provide these insurance quotations. The Wonderful Web Ltd trading as ‘insurance4everyone’ is an Appointed Representative of Berkeley Alexander Ltd who are authorised and regulated by the FSA no 307388
§ Other insurance products we stock and make available online include; home insurance, unemployment insurance, identity theft insurance and buy to let insurance,.
§ Find out more at www.insurance4everyone.co.uk
§ *one months free cover offer; refers to a reduction in annual premium that is then reduced from the initial purchase price. See website for more details.
§ Clients should read the terms and conditions of the insurance contract carefully before buying, including the processes and requirements for claims.
§ Affiliate opportunities available for this new exiting product.
There is a debate raging within the professional insurance community at the moment, it is about your insurance premiums. Some insurers have taken the stance that new customers should receive 'incentivised' prices, rather than existing clients being offered sustainable prices. Its been termed, "dual pricing". Because there is one set of rules for the new shoppers and another for those renewing. Often, such a policy can sting the loyal customer!
Home Insurance retail has of course changed a little, consumers are now comparing a lot and this has almost re-written the old adage of sticking with the same brand and building a long term relationship.
We have talked a lot about this issue in the past; people don’t go changing their bank or type of car completely when presented with cheaper interest rates or fuel, do they? Perhaps they do. One thing is for certain though, the fact that other brands are pricing loyalty out of the equation is a shame. It forces consumers to do the extra leg work.
There is nothing wrong with comparing but there are plenty of things that are right about sticking with a good insurance provider. Its all about cost- benefit analysis.
Insurance is not a commodity, it’s a relationship
By changing policies each year, home insurance would be in danger of becoming a commodity like coco or silver, with wildly fluctuating prices each week, traded frequently. Insurance is actually about trust and real life. The danger of such uncertainty is that it becomes an ally of risk. What your home insurer needs to be is reliable and simple, not evasive and unpredictable. Look at what has happened to the financial sector when they used instruments that they did not have any control over. It was chaos. The word sustainable is used a lot these days, nevertheless; when it comes to home insurance prices, wouldn't it be better for us all?
We are not suggesting that home insurance buyers should put the blinkers on. In reality, an insurance shopper should of course check they are getting a good deal and are wanted by their insurer.
Your brand should contact you with renewal terms and you should feel comfortable picking up the phone or emailing to clarify certain points. Negotiation is possible. We actually stock other products besides our preferred online option; if you want to stay with us but need a little extra, we are happy to go that extra mile to keep you with us. Within reason of course! That is what you deserve.
We make no unnecessary price rises!
More critically, a customer should not open their renewal offer and leap out of their chair in shock, because their premium has risen inexplicably. This is the reality for a lot of customers. Sure, the comparison ability of modern insurance is huge, but this is unfortunately also causing insurers to act differently.
We are moving forward with our integration onto aggregators, we must confess, it has taken longer than we had hoped. Ironically, our quote engine appears to quick and simple and we had to add in a lot of other questions. We were happy to do this, but it obviously lengthened our wait to launch.
Insurance4everyone wants to be compared by news customers and selected on our competitive prices and excellent service. We also however; want our existing Home insurance customers to compare us on renewal; they will see that we promise not to raise their premium if they haven’t claimed. Who else offers that kind of deal? The answer is very few.
If you want to re-engage with your insurance and have a simpler life, we could just be the brand for you.
We aren’t going anywhere and neither are our competitive deals. New clients or renewal clients- you are both important to insurance4everyone.
We love comparison sites or as us insurance geeks call them; aggregators. They market their hearts out to consumers and offer a brilliant way for brands to showcase their products and services to consumers. It is a shame that not all the brands on the sites see them in the same light...
We’re going to get compared
Every great concept has its weaknesses, the comparison sites create slight ripples in the way that insurers react to being constantly judged and compared. It is no secret that most comparison site users are hunting for the best price. We’d like to see the wording and approach shift to focus more on “value for money”. That's what the regulators ask, us insurance brands are required to help customers understand what they are buying.
Insurance4everyone will soon be on not just one but two headline comparison sites. It takes a bit of time to join as our quote engine needs to be laced up with theirs (using nifty codes). We are looking forward to positioning ourselves up there with other national brands and offering exactly what we set out to; value for money. It's like preparing for a digital insurance brand product show, luckily we have some tricks up our sleeve to wow you!
Home insurance is just like any other product you buy; you pay for what you get. Sometimes, if something seems too good to be true, it is.
We heard a story recently, which is a possible reaction to the comparison 'on price alone' culture. Read on...
Unsustainable insurance premiums?
An insurance shopper recently emailed our marketing team to tell us about their car insurance renewal debacle. ‘Peter’ had sourced his car insurance via a comparison site from one of the big national advertising insurance brands. They were cheapest on his comparison site of choice and he thought; “bargain”.
His year passes without incident, so imagine his shock when his renewal letter arrives with a whopping 250% increase in price. They simply couldn’t keep his price at the level that had enticed him in the first place, where is the sense in that?
“I though there must have been some kind of mistake, why would they do raise it by so much?”. Peter told us.
Peter called his insurer; he pleads and his premium is reduced by a paltry 10%.
Peter then goes away and compares again. Behold, the insurer top of the list is his current insurer at 50% of his renewal premium quote! Peter calls the service centre and is told he will have to allow his current policy to expire and join through the comparison site as a new customer.
Oh dear, what a terrible way to treat your customers. That's less than the service insurance shoppers need!
Up to your brand to support you!
This story is in no way an indictment of the comparison site culture; they simply bring insurance shopper prices and products. Shoppers should be aware when buying an insurance product from comparison sites, the cheapest insurers cant afford to stay cheap for ever. The price in year 2 might go up, even if you don’t claim. Over two or three years, what originally looked like a great deal turns into extra work for you and a bit of a pain.
Take a good look at the terms and quality of the financial security on offer- more secure insurers tend to charge higher prices; its simple demand and supply…
Our premiums are guarenteed not to go up (if you dont claim, terms apply.. etc).
When we launch on comparison sites, our Home insurance prices will be set at a sustainable levels- we will not be the cheapest of the cheap, because we provide quality products, so we’re confident they provide value for money.
PLUS! Even with our comparison site product, you can fix your renewal price just like when you come direct, then and there! No more worrying about 200% increases. Its how we like to reward you for choosing us.
Look out for us on the comparison sites all next year!
We want our clients to stay with us and build a relationship of trust, if when it comes to renewal time, you want a few more insurers and product options- you can phone our customer service line. We stock many more products and you can buy them without going to another website or provider.
With us you can freeze your premium; compare when you renew, buy AND get a deal that doesnt cause you a heap of headaches.
Now that is simple[s]… with 0% gimmicks.
James*
Marketing & Branding
Home insurance mini-guide:
Your home contains all the most treasured inexpensive and expensive items you possess. If you own it, it is also the likely to be your largest financial commitment.
It makes sense to consider the risks you face and act to protect it from the unknown; especially when money is tight, rebuilding your house or having to replace all your possessions isn’t cheap!
Feel free to give our customer services line a call for help; 0845 355 1150
Or
Go online at www.insurance4everyone.co.uk to get a quote!
We stock our preferred home insurance product online, but we can also provide you with a number of alternative insurers to compare if you drop us a line!
There are effectively two types of cover for you, but these can also be combined into one policy which can save you money and you can add extensions such as accidental damage or All Risks:
Buildings insurance guide
Contents insurance guide
What is meant by Buildings?
It is usually: Household items and personal belongings that you own or are legally responsible for.
How much should you insure for?
Predominantly a product for homeowners it is often a condition of having a mortgage. You don’t have to have your buildings insurance with your mortgage provider, you can shop around!
If you are leaseholder and live in a flat complex, the owner of the freehold may have arranged a block policy (to which your service charge contributes) so it is prudent to check whether this applies to you before you seek cover.
What do you need to consider?
Buildings insurance covers the building and generally permanent fittings that you would leave behind were you to move house. It is usually extended to include outside structures on your property such as garages and outbuildings and garden fixtures such as walls and fences as well, but this varies dependent on insurers.
The policy will pay for occasions where the property has been damaged by catastrophe or was destroyed. Standard cover pays out for ‘perils’ such as Fire, floods, lightning or subsidence and usually extends to include property owners liability.
Flood is a particular risk in modern times, you can find out more information about the risks you face and warnings you can receive on the environment agency website
Sums insured for Buildings cover are usually calculated based on the rebuild value of your home; there are some online tools you can use to ensure you get the right level of cover. Other rating factors include the number of bedrooms and postcode you live in, depending on the insurers criteria.
At insurance4everyone, we have a policy where you do not need to know the rebuild amount – this is called a bedroom rated policy and provides cover up to £400,000 for buildings.
Buildings insurance tips:
Contents insurance guide
This is a product for both homeowners and those that rent a property.
What do you need to consider?
Contents insurance covers your possessions that you would take with you were you to move house, such as furniture, electrical goods, clothes and valuables.
Insurers will usually cover you for the ‘perils’ of fire and theft as standard; you may also opt to cover accidental damage in and perhaps even away from the home.
When applying for a contents insurance quotation you are asked to nominate the level of cover you require, some insurers set an automatic maximum as standard.
It is important that you take some time to calculate the value of contents in each room of your house (don’t forget your carpet or curtains!) as this total sum will indicate how much cover you need. Your calculation should be on the basis of ‘new for old’ except for clothing.
It is sensible to keep the receipts for any items you buy that you might want to claim for in the event of any claim and keep the record upstairs in a safe place such as a fire proof box/cabinet. These not only help you tot up the value of your contents, but also act as irrefutable proof of ownership in the event of a claim.
Should you make a claim; most insurers operate a “new for old” policy, meaning items would be replaced new except for clothing.
With this product, the security of your home has a lot of impact on your premium. You could save money if you have a burglar alarm, multiple deadlocks, additional window locks or are a member of the local neighbourhood watch. Sometimes if the sum insured is higher than average the insurer will insist on an alarm.
Contents insurance tips:
All Risks:
You can extend a standard contents insurance policy and provide accidental damage or loss cover for valuables or personal possessions anywhere in the
Some policies provide cover for ID theft – check your policy wording. We can also provide a stand alone ID Theft product for only £21.
Legal Expenses
