STEPHEN CRANSTON: A wider safety net
Switch2 gives a consolidated single credit life policy. The catch is that it only covers people earning a salary
Clientèle Life is a highly successful business. Were it not for its small size and free float, it would be as lauded as other companies in the sector, like Discovery. Its value of new business, in absolute terms, is in most years higher than that of the much larger Liberty Group. I hear Clientèle’s top management has decided to buy insure-tech firm Switch2. The company gives itself a rather grand testimonial, calling itself entrepreneurial, purposeful, responsive, synergistic, determined, courageous, customer-centric and disruptive. Why not mouthwatering, too? Switch2 facilitates a move between credit life insurers, which until a year ago were poorly regulated. Many people did not think much about the credit life they were paying and ticked the box so they could take a new lounge suite home or drive a new car away. For what seemed like a small amount back in the analogue era, there was little incentive to shop around. Of course, you weren’t encouraged to do so. For the furniture ret...
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