Tailor-made
Some insurers think it is time to introduce a new insurance model, reports Pia Perkins - one that works through the cycle and manages the volatility rather than being ruled by it
Followers of fashion can be labelled as either high street or tailor-made. Insurance is much the same: high street customers are mostly price driven and constantly on the lookout for a bargain. Moving provider year on year, these transactional customers snap up policies that generally fit their profile but might be slightly loose in the leg or long in the arm.
Tailor-made is for a very different type of customer. Their modus operandi is to go in for a private fitting at the provider of their
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