Axa’s Walker and Aviva’s Storah tackle monthly payments, flooding and Consumer Duty in parliamentary session
Jon Walker, CEO of Axa Commercial, has highlighted the valuable service of pay monthly options, and urged the government to increase flood defence spending, in a parliamentary session held earlier this week.
Walker, pictured, explained the insurer believes offering an instalment option is a good service for customers.
“When we look at our existing portfolio of business, 30% of customers on our direct book take an instalment option, and 28% on home. So there’s definitely a need for the product.”
Later in the session he added 37% of Axa’s motor book involves monthly instalments.
If there is a period when a customer hasn’t made their monthly payment they are still insured.”
He continued: “There are
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