PPS Short-term Insurance serves members with enriched value proposition PPS SHORT-TERM Insurance has introduced an enriched and differentiated “private client” service experience to its time-scarce members in the professional market that improves the service experience. “We are acutely aware that the short-term insurance industry, both locally and globally, is undergoing significant shifts as the impact of Covid-19 continues to drive behaviour change and needs in the area of motor vehicle and home insurance, especially when it comes to simplicity and flexibility,” says Werner Bosman, CEO of PPS Short-Term Insurance.
The Future of Motor and Home Insurance – What do customers want? - a report compiled by Deloitte, following a survey conducted in October 2020 among 8 000 customers from eight countries (Australia, Canada, China, Germany, Italy, Japan, the UK and the US) - identified core insights that will help the industry to grow. These include: • Customers favour simplicity. They want products that are easy to understand, purchase and use. They also want to be confident that they are paying a fair price and that claims will be paid fairly. With this insight, insurers can use a human-centred approach to redesign products and exceed customers’ expectations. • Insurance embedded into other services and in new product designs is strong in some customer segments, but varies considerably by country. • Internet-connected offerings, such as motor telematics and home insurance linked to home sensors, cause apprehension among many customers. They do not feel comfortable sharing data from car and home sensors with insurers. • The Covid-19 pandemic is increasing demand for adjustable cover and pushing people towards transacting via online channels. This behaviour is unlikely to revert to pre-crisis norms for many people. “This is also coming through more strongly among our members, who are seeking value enrichment and innovative self-service options in managing their short-term insurance policies and products,” adds Bosman. “We recognise that time, convenience, privacy and simplicity are important for professionals who rely on a superior value offering. “The private client service experience is aimed at creating exceptional engagements with our members, and the first of our innovations is in the area of concierge services - one of the key trends, along with personalisation, that has been identified for the industry.”
