Why we still care about the ‘personal’ element of insurance
Personal insurance, by its very nature, is often the most emotional form of risk protection that people purchase.
It’s usually arranged to protect against ‘worst-case’ scenarios – offering a level of comfort to ensure cherished items, investments and loved ones are suitably protected.
For those who enjoy assets or items with above average values, the need for suitable personal protection is only magnified further.
As such, our opinion about personal insurance is that it should always be… personal. Sadly, in our experience, this is not always the case.
Does insurance feel less personal than ever?
Technology, efficiency, cost and price have all had significant impacts on how personal insurance policies are produced, distributed and sold.
Traditional insurance brokers and online providers now supply versions of household, motor, travel, boat, pet, life and healthcare policies that are all (supposedly) fit for purpose.
But does a meerkat, an opera singer or a customer service desk fill you with the confidence that your personal insurance policy will actually do what you expect it to?
In a time of crisis, would you really trust any of these to help you understand your policy and the cover it provides?
Have insurance giants left you feeling unappreciated?
Unfortunately, it’s fair to say that many insurance giants do not value personal insurance.
Shareholder value usually means large organisations sell-on business they acquire which is below a certain level of income – with many personal insurance policies falling in to this bracket.
In our experience, the clients affected by this strategy are often left feeling deeply unappreciated.
After all, how would you feel if you’d trusted a company to provide cover for your multiple homes and cars, your boat and your healthcare only to receive a letter advising you that all your custom had been sold to another company?
Especially now you’re being told that the new company are better placed to service your requirements.
Having dealt with the fall-out from situations like this, we know that people are often left feeling unloved and undervalued. This is because large insurance organisations are not, by nature, set up to deliver truly personal care. For them, the bigger picture (higher profits and rapid growth) is more important. Slower organic growth, driven by understanding and care, can often be lacking.
Does anyone care about personal insurance?
If this is a question you’ve pondered, you’ll be pleased to know that Nowell & Richards do still value personal relationships and service.
Because we’re not a mass-market provider we can:
- Truly care about the personal approach
- Listen and understand your lifestyle
- Offer impartial advice and experience
- Analyse the market as independent advisors
- Tailor the most appropriate protection for your needs
We understand that the value of an insurance policy is only found at the time a claim needs to be made. In times of crisis, we are immediately on hand to resolve any issues. We believe this professionalism and dedication sets us apart.
If you want a policy with a truly personal touch, you need to know who cares about the ‘personal’ element before arranging suitable cover. Otherwise, you could be left with a personal policy which is, in fact, anything but.
Experience the N&R difference
If you value the personal touch, email hello@nowellandrichards.co.uk or call 01785 255514 – we’ll be happy to tailor a free no-obligation quote suited to your possessions and lifestyle.
