When it comes to Commercial Van Insurance ‘It’s about Quality not Quantity’ – Director Grant Georgiades explains the thinking behind Plan Insurance’s online marketing strategy.
Plan Insurance have just re-launched their website and one of the most significant differences is the removal of their online quote facility for Commercial Van Insurance.
In an age where consumers are being asked to supply their quote details via online forms for an increasing number of insurance products some may view this as a backward step.
However, Director with responsibility for overseeing Plan Insurance’s marketing strategy Grant Georgiades believes that this is a move in the right direction that will enable Plan Insurance to provide better service, more competitive premiums and improved results for insurers.
The logic behind the decision was relatively simple. We conducted a survey that found providing a quotation over the phone is actually a far quicker and more enjoyable experience for our potential customers.
Despite having invested in a sophisticated online quote engine as soon as a browser has a non-standard requirement on their quote we found the actual time taken for the user to complete the quotation and various re-quotes online exceeded that of completing the quote over the phone with one of our experienced account handlers.
We’d made the effort to supply in-depth help information and Commercial Van Insurance FAQ’s but when potential clients would need an answer to a question about insurance they’d need to find the relevant information, read it and take it in. Where as over the phone they could simply have asked a quick question and received an instant response.
There are an almost endless number of scenarios where speaking to an account handler is far easier and efficient for the browser rather than them trying to muddle their way through an online quote form without suitable guidance.
Another factor in Plan Insurance’s decision to remove their online quote facility for their commercial van product was that by ensuring every effort is made to provide insurers an underwriting profit they can keep offering low rates to consumers. Grant explains,
Most direct insurers rely on writing high volumes and on using these premiums to generate funds from other investments. Our business model is structured so that the way we work is to sensibly select the most attractive risks, the logic being that by doing this everyone in the chain is rewarded.
The careful drivers who value their no claims bonus as much as their vehicles will save money as they receive lower premiums, as a company we obtain a satisfied new client and the insurers avoid the increased risk of paying out substantial amounts on a high number of large claims and actually make a profit on our account. It’s not a complicated equation but is one that many companies seem to have lost focus on.
Some of our key insurers are not interested in appearing on online quote panels as they feel many of the low premiums being offered are for risks that do not warrant the discounts that are being applied, and much like those bankers involved in the fall out of the sub-prime housing market, many of those insurers competing at these seemingly unsustainable rates will eventually get burnt.
Customers can also gain greater savings on their nsurance by speaking to our expert staff as their quote information will receive detailed analysis which in many instances will reveal possible discounts that can be allowed.
Further to this our account handlers will highlight out all the relevant information of the policy being offered that is easy to overlook when buying online.
As we all know the cheapest policy does not always provide the best value cover and could prove to be more expensive in the long run. For example the policy at the top of the quote results panel may not offer courtesy vehicles for non-faults accidents.
There’s absolutely no point saving a minimal amount on an insurance policy to loose out greatly further down the line. This is the type of information that a Plan Insurance account handler will provide
So the outcome is that Plan Insurance have removed their online quote system for commercial van as their research has found that when you speak to one of their friendly insurance agents it actually benefits you more, as their expertise makes the process quicker and the results even cheaper. Call Plan Insurance free on 0800 542 2740 now or click Call Me Now to save both time and money.
*NB – since this post date we have undergone a re-brand to update our image and our brand, with another new website that you see here. The various sub-brand departments that were within Plan Insurance such as Taxi Plan, Commercial Plan, Trade plan etc. were brought together under the one name of Plan Insurance Brokers. Read more about our re-brand here.