ARAG currently has 25 initiatives to make it a ‘smart’ insurer. Topping the list is an online training platform and the second is providing trading via a common portal. Both require huge development efforts and indicate the extent of our investment in future systems that deliver technological solutions today.
Improving understanding of the products we bring to market also echoes a regulatory requirement, but we have always felt strongly about offering product training to ensure they are sold correctly. Our new online training platform will allow brokers and solicitors to access quick, straightforward modules to improve their knowledge and expertise on our legal expenses insurance products.
A new common portal will provide our customers with improved information and save them time too. New features include a dashboard teeming with management information, clearly displayed, and with updates that can be directly keyed into the system by brokers and solicitors.
Turning towards product innovation, we noted the strong demand for cyber protection products and will initially be launching a new Home Cyber policy for high net worth individuals, who already have a Family policy with us. The new policy will support customers with assistance services and legal expenses protection.
On the commercial front, ARAG is well aware of rising employment claims and difficult market conditions. However, we are very much open for business with brokers who understand the type of business that we can successfully grow together at a satisfactory level of premium on all sides.
I also want to say a word on Home Emergency. This class of business is increasingly valued and attracts high volumes of accepted claims. It is a tough challenge to match expectations, affordability and excesses with the minimum of small print. As we control costs, getting pricing just right will help deliver an undiminished service and wide cover.
While we invest heavily in IT developments, we have no intention to become an impersonal ‘virtual’ insurer. In fact, we have just acquired a new building opposite our current one in Whiteladies Road, Bristol, to accommodate future expansion. We hope you can come and visit us there soon.
Disclaimer - all information in this article was correct at time of publishing.