Post Office Insurance and Ageas have agreed a new five year partnership to offer a range of home insurance products to new and existing customers. These have been designed to offer Post Office customers a choice of cover options.
Built from scratch, with customer need at the heart of the proposition, the new products offer three different levels of cover supported by a data driven, reduced question set, refreshed mobile first journeys and a clear policy wording.
Ed Dutton, Managing Director of Post Office Insurance, said:
We have a close and enduring partnership with Ageas built up over many years and so we knew they were the people who could make insurance easy for our customers.
For us this isn’t just a new range of products it’s a completely different approach as we’ve now got an Ageas trained in-house team to deliver our customer sales and service.
This new product offering and exciting partnership offers us a significant platform to grow in one of our core verticals and we look forward to working with Ageas to build a substantial presence in this market.
Ant Middle, Ageas’s Chief Customer Officer, said:
Post Office Insurance is a well-known brand and we’re proud to be chosen as its trusted partner to continue to deliver its home insurance proposition. The teams on both sides have worked tremendously hard to create a fresh portfolio of products that make home insurance easy for Post Office customers.
In addition to the core product underwritten by Ageas Insurance, Post Office is also partnering with a range of innovative businesses to support customers at all points. Premium Credit Limited will provide the premium finance offering, a new dedicated contact centre will be provided by FirstSource and refreshed ancillary products with enhanced cover levels will be underwritten and serviced by DAS UK.
Steve Whitfield (Senior Consultant – Altus) commented;
It is always refreshing to see a General Insurance provider revamping their proposition and applying a customer first approach. It will be interesting to see what this actually looks like in reality, will their reduced question set utilise external data sources to significantly improve the customer journey, you shouldn’t need to ask more than 5 questions to provide cover – as proven by the likes of Aviva & L&G.
Also, will the Post Office, through their partnership with AGEAS, be looking to utilise new technologies to improve the post-sale & more importantly the claims experience. All too often we see great customer journeys designed for quote & buy but when it comes to the moment of truth customers still have to follow antiquated processes that result in even simple claims taking too long to resolve and ultimately dissatisfied customers.
Insurance Edge Comment;
The Post Office has an uphill struggle when it comes to repairing its damaged reputation. The scandal surrounding false accusations of fraud levelled against sub-post office managers and franchise holders will not go away easily in the minds of many consumers. Decent people had their lives completely ruined, some were jailed, and so far, nobody at the Post Office – or Fujitsu, the company behind the faulty Horizon software – has faced the sack or disciplinary action over that decade-long shambles.
It is possible that a public inquiry into the scandal may yet uncover a concerted campaign to continue malicious prosecutions against post office franchise holders, even though senior management knew the system was to blame. In some cases, those actions led to suicides. Time will tell on that front.
Recently the Post Office were fined by Ofcom for overcharging those with hearing difficulties. Another example of this large company exploiting vulnerable people.
Getting into a business partnership with the Post Office, is a remarkably brave step for anyone, some might say.