STEPHEN CRANSTON: A personal touch for short-term insurance
Highly personalised service is available for investment planning and for life and disability cover, so why not for short-term insurance?
Short-term insurance has become highly commoditised and based on price. However, demand remains for the personal touch, which many affluent people still look for. Highly personalised service is available for investment planning and for life and disability cover, so why not for short-term insurance? It probably takes longer to invoice and value all insurable assets of an affluent household than it would to provide a financial plan. For all those irritated by the constant Outsurance and MiWay ads and who don’t want to be treated like a bag of soya beans, there is the new Elite Risk Acceptances, part of Old Mutual Insure. I am tempted to consider this another middle-market product dressed up for rich people; the high net worth market will never be a sweet spot for Old Mutual. But the business has great credibility thanks to the appointment of Christelle Colman, who could be called the Afrikaans Magda Wierzycka (of Sygnia fame). For many years Colman ran MUA Insurance Acceptances, which...
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