Notepad on Life

December 29, 2016

I want your best quote, insurer, not your opening gambit

Filed under: business,Consumer,Finance,Motoring — - @ 1:25 pm
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pic courtesy of Gerry Balding

“Sorry to hear that, Mr ********. Can I just ask why you’re cancelling your cover with us?”

“Yes: the renewal quote you sent me was undercut by another firm by 38 pounds. I’ve taken out cover with them instead.”

“Oh…right…Actually, it’s a shame you didn’t get in touch with us first, because we could have probably undercut that, depending on whether any circumstances had changed.”

“But how’s that? You’d already sent me a renewal quote. I assumed that was your best offer.”

“Weeeell…not necessarily…”

……………………………….

Now, I’m not so naive as to have been completely taken aback by this conversation, when renewing my car insurance recently. What did surprise me is the way no attempt was made to mask or even obscure another painful truth about the financial services sector. You know, the sector whose TV ads are often based on the premise that they are your best friends.

Those renewal quotes aren’t their best offer, after all. Just the most they think they can get away with.

Which  is what friends are all about, of course.

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