Market views

Professional Adviser
clock

At the end of last year, Norwich Union said that it was planning to launch a guaranteed claims pilot. If launched, it will offer policyholders a guarantee that their protection policies will pay out and will be available for an extra £2 to £3 a month. Is this a wise move? Would it work? What do you think of such a product?

Peter Le Beau, Le Beau Visage Those of us who remember early Monty Python episodes may recall the "Never Claim Policy", which had very reasonable premiums but, of course, paid out nothing in the event of a claim. People were more sensible then and no one tried to rush it out as an idea to market. I fear that may not be the case now. Norwich Union's guaranteed claims pilot is a bold move but I must confess it has left me very confused. If a claim is honest and reasonable I do not think it is fair clients should pay a surcharge to ensure it is paid. Presumably this is a sort of tax on t...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Client Acquisition

Majority of advisers have taken on a new client in the last month

Majority of advisers have taken on a new client in the last month

'The ability to look after client numbers is more of an issue'

Isabel Baxter
clock 13 May 2024 • 1 min read

Advisers respond: Client retention or acquisition?

Partner Insight: Logic Wealth Planning's Stephen Trenholm and Greenstone Financial Planning's Catherine Greeves met in London recently to discuss the topic 'Adviser approaches to client engagement - is digital king?

Sponsored by Architas
clock 07 June 2018 • 1 min read

Insurance websites failing customer needs

Insurance company websites are not meeting even the most basic customer experience standards according to a recent survey.

Caitlin Morrison
clock 24 February 2012 •