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The experiences of members are now shaping how Co-op insurance is building its approach to helping customers whose circumstances make it difficult to deal with an insurance company.
Back in August, we asked members, whose circumstances make dealing with an insurance company especially difficult, to share their experience of taking out an insurance product or making a claim.
We know that insurance can be complex. And if you’re a member with a physical or learning disability, health issue, or someone going through a stressful or tough period, communicating with an insurer can be even more challenging. By asking members to share their experiences, we hope to develop an approach that ensures everyone is treated fairly and given the support they need in all their dealings with the company.
Here’s what we heard:
- Members’ circumstances were varied and often profound, which means our approach needs to be one that best responds to and respects that diversity.
- 6 out of 10 members who had purchased their last financial product online said that they found the process easy.
- Of those members who had bought their last financial product over the phone, only three in ten found the person they dealt with to be ‘patient’ and only two in ten found them to be ‘caring’. Only one in ten said they were ‘satisfied’ with their overall experience.
- Satisfaction amongst those who dealt with someone in person was marginally higher, with one in 3 saying they were satisfied.
- ‘Greater understanding, ‘a single point of contact’ and ‘more patience’ were cited by a number of members as ways in which the service offered might be improved.
It was really interesting, but at times a bit shocking, to read about the experiences some of our members have had when dealing with their insurance company. This has provided some real insights into how not to go about things, and members offered a number of constructive ideas about how their experience could have been made better.
We’re now exploring these and will be working up a framework in collaboration with a small group of members who said they’d like to continue helping us to develop our approach.
Conduct Risk Manager, Co-op Insurance