A New Decade, A New Opportunity

Published On: January 10, 2020

A New Decade, A New Opportunity

It’s been a busy week for Team Insure Apps, with a good number of enquiries and orders, no chance of easing yourself into the new decade, it’s been full on and highly motivational.

Perhaps it’s because it’s that time of year when you look forward at what you could do better in the coming year.  I asked a broker what they see coming down the track this year and how Insure Apps could respond, three things were highlighted:

“Commercial Motor Premiums are going through the roof, Insurers are looking for double digit increases” – there is no doubt that motor premiums are under pressure, there’s a great opportunity for you.  It’s great to be able to talk to clients about things they can introduce that will make their lives easier and save them money.

“Speed of FNOL is becoming more and more of a hot topic”  – Insurers are focussing on the speed of reporting of specific fleets.  A recent warranty on a fleet stated the following:

Additional Excess – First Notification of Loss

In the event of an accident which is not reported to Us within 24 hours of the incident occurring, the Excess applicable to a claim for Damage (other than glass replacement) will be increased by £250

One of the fleets that Insure Apps works with was reporting 20% of claims within 24 hours before they introduced the app.  They are now reporting 87% of claims within 24 hours.  If they had the above warranty applied this would be a difference of over £50,000.  Yes, they have a lot of claims in a year but even a moderate sized fleet could have the opportunity to save £000’s.

“Clients expect technology solutions, we can’t rely on call centres” – Whether we like it or not the smartphone has now become a critical everyday item for people.  Clients expect Insurance Brokers to move with the times, this is another great opportunity for Insure Apps.

Today marks the end of the first full working week of the new decade and this week sees three new customers on board.

Let’s make 2020 a year of change, contact us now for more information on how you can transform your business and make life better for clients and drivers.