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The Insurance Tale of Mary!
Last week the WeSavvy team hit the streets to interview consumers to get their views on the insurance purchase cycle and the industry.
Let’s just say that a lot of consumers are dissatisfied with the industry and the product offering currently available. We will share Mary’s story.
Mary is a 30 year old single female finance graduate from Cork, working full-time in financial services in Dublin. In her limited spare time, Mary shared with us that she lives an active and healthy life attending Pilates, going for runs and eating healthily.
Due to increased expenses, Mary is more price sensitive than ever, finding herself looking for maximum convenience at the lowest cost.
When Mary was searching for Mortgage Protection cover for the first time, Mary wanted an insurer that spoke her language, that made buying the cover easy and efficient, enabled her to make her queries online, but most importantly she wanted an insurer that took into account her active and healthy lifestyle.
When Mary went to the market most insurers and brokers dealt with her in the same way. The process was cumbersome (she spent approximately 5 and a half hours on online price comparisons and research from both insurers and brokers). She found the process time consuming (it was meeting after meeting, with follow up emails and forms and phone calls).
Current Customer Experience
In the end she received non-personalised quotes, which were generic and didn’t take into account her type of lifestyle.
Mary found the process confusing, stressful, frustrating and felt that she wasted a lot of her valuable time to end up with similar policies at different price points, that didn’t work for her.
What can we do for Mary?
WeSavvy is currently tackling the issues that Mary has encountered.