Greater than half of respondents agree insurance coverage choices would improve firm worth and enhance buyer relationships
CHICAGO, Oct. 18, 2022 /PRNewswire/ — Few in the true property and auto supplier industries are providing insurance coverage on the level of sale. This leaves an untapped marketplace for these companies alongside the trail of buy, based on VIU by HUB, a digital insurance coverage brokerage platform powered by HUB Worldwide Restricted (HUB), a number one world brokerage and monetary companies agency.
The survey carried out by Loyalty Analysis on behalf of VIU, discovered that insurance coverage as a value-add service presents alternatives for enhanced buyer assist. Of respondents that don’t supply insurance coverage, a majority – 51% – indicated providing insurance coverage merchandise would improve their firm worth and reinforce relationships with their clients. Of those who at present supply insurance coverage, virtually 75% mentioned they discover robust worth in doing so (See infographic).
“Worth-add companies, equivalent to financing and prolonged warranties that realtors and auto sellers supply, can have a big effect on buyer satisfaction and loyalty, particularly in unsure and risky markets,” mentioned Bryan Davis, EVP and Head of VIU. “Nevertheless, we have discovered that firms typically understand embedded insurance coverage to be tougher of an providing than it really is, inflicting them to overlook out on potential enterprise progress.”
Survey respondents supplied two predominant causes for not contemplating insurance coverage as a value-add service:
- Authorized issues. Realty enterprise homeowners perceived authorized issues as the largest hurdle to providing insurance coverage. A standard response was uncertainty about their means to legally refer clients to a specific insurance coverage supplier.
- Issue managing each day. Auto supplier enterprise homeowners are beneath the impression that providing insurance coverage could be too difficult to handle daily.
Know-how is a technique that HUB is simplifying insurance coverage. VIU by HUB is a digital insurance coverage brokerage platform constructed to simplify the insurance coverage buying, evaluating, buying, and managing course of whereas providing unbiased selection of carriers alongside knowledgeable recommendation. VIU’s technical capabilities permit the platform to be simply embedded throughout the workflows and programs of companion organizations, enabling them to supply insurance coverage simply throughout the client buying journey.
“As shoppers proceed to demand extra from the businesses they purchase from, permitting them to bundle insurance coverage on the point-of-purchase whereas offering selection of insurance coverage carriers can be seen as a singular promoting level,” mentioned Mike Keegan, Managing Director of Strategic Partnerships at VIU. “This won’t solely strengthen buyer relationships however result in potential enterprise progress right now and sooner or later.”
To study extra about VIU by HUB, go to viubyhub.com.
About Hub Worldwide
Headquartered in Chicago, Illinois, Hub Worldwide Restricted is a number one full-service world insurance coverage dealer and monetary companies agency offering threat administration, insurance coverage, worker advantages, retirement and wealth administration services. With greater than 14,000 workers in workplaces situated all through North America, HUB’s huge community of specialists brings readability to a altering world with tailor-made options and unrelenting advocacy, so shoppers are prepared for tomorrow. For extra info, please go to www.hubinternational.com.
CONTACTS:
Media: Jessica Wiltse
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Media: Shelley Rossetter
Telephone: 863-397-8877
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SOURCE Hub Worldwide Restricted
