Covéa Insurance launches new Private Car Policy with ‘kerb appeal’

15th December

Covéa Insurance has revamped its private car policy with the aim of making it easier to understand and more appealing for customers to read. Using behavioural economics techniques, the company has identified the reasons why customers avoid reading their insurance documents, and used this information to redesign its own policy documentation. The changes are intended to encourage customers to take a little time to understand the product and cover they’ve purchased, and help them make informed choices about their insurance. Covéa Insurance believes this is essential to delivering a high quality service to customers.

Speaking about the private car policy changes, Deputy Chief Executive, John Blundell said:

“Insurance can be complex, but we can’t expect our customers to have in-depth insurance knowledge and hours to spare to read and understand their documents in the same way as insurers. Covéa Insurance’s private car policy changes are designed to recognise the competing pressures on customers, accepting that many don’t have the time or inclination to read the small print. We’ve attempted to address this by improving the way the information is presented, with more straightforward language, graphics and visual signposts to flag up important information, making it much more customer-friendly overall”

John added:

“The insurance industry is often criticised because customers simply don’t understand their cover. We’re aiming to change this with a more straightforward approach so that customers don’t reach claim stage without understanding, for example, their policy excess or their own duty to take care of their possessions.”

The Covéa Insurance private car policy is the first in its product range to undergo a makeover. At the same time, the company has used the opportunity to upgrade the cover provided, guaranteeing a courtesy car for customers using an approved repairer, and including uninsured driver protection cover.

 

-Ends-

 

About Covéa Insurance

Covea Insurance plc is the UK underwriting business of leading French mutual insurance group Covéa, who are number 1 for property and liability insurance in France, generating over 16.3 billion Euros in premiums in 2017.  

Covéa Insurance looks after the insurance needs of over 1.5 million policyholders; delivering financial reassurance through its Standard & Poor’s A+ stable rating, as a guaranteed subsidiary of Covéa. 

The company offers motor, household, protection, pet, mid and high net worth insurance and a range of commercial insurance products, through a range of distribution channels. Employing over 1800 people, Covéa Insurance has a strong people and service ethos, having Investors In People Gold accreditation and is signatory to the HM Treasury Women In Finance Charter. It also has World Class service accreditation from the Institute of Customer Service for its Motor Claims, Home Claims and Underwriting Services teams as well as Chartered Insurer status for its Commercial and Mid/High Net Worth business.

In 2018, Covéa Insurance were recipients of the Personal Lines Insurer of the Year award at both the British Insurance Awards and the Insurance Times Awards and was the top rated insurer in the Insurance Times Broker Service Survey for both Personal and Commercial Lines.

Back to list

Media Contacts

For media enquiries, please contact Stephanie Cox.

Alternatively, please call or email

E: Dianne Smith T: 07796 695 090