Broker In Focus - April 2009 Bulletin

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NEW RESOURCES FOR UK INSURANCE BROKERS

New broker online resources from Nice 1 Ltd, the team behind Theft Protect are proving popular among insurance intermediaries.


This site, and the consumer awareness portal at http://theftprotect.blogspot.com/ contain articles and latest news about UK Car Crime and Car Insurance.

The bulletin details way that the Nice 1 Team support brokers in their efforts with Theft Protect, and provide links to articles on the consumer site where we keep the UK motorist appraised of the need for adequate insurance.

Click the link below or the thumbnail image of the bulletin above to view the full bulletin. We look forward to supporting your business soon.

Kind Regards

The Nice 1 Team

Motor Insurance : When Choosing Add Ons . . . . .

IT PAYS TO GO CHERRY PICKING!

When it comes to choosing which add-ons or optional benefits to promote to customers, agents tell us that they have a number of things to consider.

• Which ones will my customers really appreciate, need and buy?


• Should I offer them, at point of sale or later?


• Individually or packaged in a suite?


• Do I add it automatically, assumptively with an opt out or upsell later?


• Will the add on provide a real customer benefit?


• Would the add on minimise customer disatisfaction in the event of a claim?


• Is there a good margin for my business with this add on?


• Is this add on fairly unique, will it enhance my service levels?

With so many add on products available, we can understand the dilemma. Not only do you have to consider the customer needs, but you also have to decide what commercial and operational benefits the product would deliver to your business.

Many people often already have breakdown cover in place, and frequently have legal expenses cover included with their home insurance, so they are conscious of not paying twice for the same thing.

An area that always appears high on the customer shopping list is a guaranteed replacement vehicle.

It is remarkable that very few insurance companies offer a replacement in the event of a theft or write off. Motorists often assume that a courtesy vehicle will be provided in any eventuality.

NOT SO !

No courtesy vehicle will be provided whilst a vehicle remains un-recovered (typically 10-14 days, if at all) and NOT when the vehicle is written off.

How would your customer cope if their vehicle was stolen? How would it impact on your business when they discover no courtesy car will be provided?

Theft Protect was introduced to fill the courtesy car gap. For a small annual premium, customers can purchase a policy that provides a like-for-like replacement vehicle (car/van/bike or plated taxi) for up to 28 days in the event of a theft related incident or following an accident where a vehicle is written off.

To find out more about the groups of vehicles provided, click one of the links at the top right of this page.

Theft Protect is promoted through a UK network of approved brokers, dealers, manufacturers and finance companies, who can arrange immediate cover online (regardless of the insurance renewal date).

If you would like to add Theft Protect to your product range ans start enjoying the benefits of promoting this product to your customers, simply e mail us at enquiries@nice-1.co.uk or telephone us on the number in the contact panel at the foot of the page. We will help you get started immediately.

Alternatively, click here to complete the simple online registration form, it only takes a few minutes

So, when it comes to choosing your motor insurance add ons, for an excellent value policy that your customer will truly appreciate, cherry pick Theft Protect!

P.S. You might like to read how we have helped Theft Victims across the UK, click this link to read how the policy helped them.

UK small businesses are Twittering at record levels

The advent of the aggregators, and the continuing threat of direct insurers has witnessed many UK Insurance Brokers exploring alternative routes to their customer. Many are now busy creating marketing blogs and devouring articles on search engine optimisation, e mail marketing and networking ideas to capture more new business and increase retention of existing clients.

This article is the latest in the series from Nice 1 Ltd, sharing information on the latest strategies for business development.

TWITTER

Small businesses are sending three million ‘tweets’ a day in the UK, according to a study on the usage of the free networking site Twitter by telecommunications company O2.

O2 questioned over 500 small businesses and found that nearly two in ten (17%) are using Twitter, with over one quarter (28%) signing up in the last four weeks.

It is estimated that 700,000 small companies in Britain are currently using it – 17% of the 4,559,000 small businesses in the UK that employ less than 20 people (source: Federation of Small Business); furthermore, O2 found that the number is growing at the rate of 6,000 a day.

For businesses, the focus is on cost-cutting, particularly on marketing and recruitment. It was cited by almost two thirds of the O2 sample. Over one in ten said they had saved up to £5,000 since signing up while three in ten reported benefits of up to £1,000. Almost 75% said they were using Twitter to stay in touch with customers and suppliers, while a third admitted they had signed up to monitor competitors’ Tweets.

Simon Devonshire, Head of Small Business Marketing at O2, said: “The way small businesses are using Twitter is a great example of how the community is embracing new technologies in order to adapt and survive in the current economic climate. The increase in small businesses using converged devices such as the iPhone and BlackBerry smartphones combined with the simplicity of Twitter represents a fantastic opportunity for businesses to further raise their profiles and increase efficiency.”

Despite its relative infancy, Twitter appears to be making its mark in the small business world over and above its social media competitors.

Four in ten small businesses revealed they are using Twitter more than LinkedIn or Facebook with 60% claiming their usage of the social networking site was likely to increase. Despite three times more businesses having a blog, nearly seven out of ten (68%) of those questioned admitted to using Twitter more regularly.

To sign up or find out more, visit: http://www.twitter.com/.

See this article and other useful links at http://www.icm.ac.uk/home/ The home of the Institute Of Commercial Management.

http://news.icm.ac.uk/business/uk-small-businesses-are-twittering-at-record-levels/

Whilst it is early days yet, the team at Nice 1 Ltd, promoting Theft Protect, can be followed on twitter at http://twitter.com/niceoneuk

Look for the avitar alongside our "tweets".