Tru that; but what I have seen with new entrants into the insurance world is the prospect does not always end up with the correct/reasonable coverages, and saves premium. When a claim comes they find out the hard way they were covered better with their prior policy….caveat emptor is all I am saying.
I believe you meant that you should get your money back if you didn’t have a claim. Then you changed in your next opinion? It is not IF you have a claim , it is WHEN.
No refund; just saying the insured does not care if they had insurance or not, if they never had to present a claim. Most consumers are not insurance savvy so they don’t know whether they are getting a raw deal or not; unless they’ve got a lot of history with an agent or a company.
I agree with the peace of mind argument but sometimes it goes too far.
I attended the presentation on Tuesday. This is a powerful entrant, far more powerful than any on-line auto shopping tool so far:
1. Credit Karma already has nearly all of the underwriting information in their system for millions of their existing customers. Quoting is effortless.
2. Credit Karma said they will shop more than 2 dozen insurers.
3. Credit Karma’s current customers (80 million plus!) have huge loyalty and positive sentiment for Credit Karma. Credit Karma truly starts with the customer and then works to the solutions. In a word, massive Trust.
Ask GMAC, the credit company how selling insurance worked out for them. National General bought them because they were going under. A credit score is one tool. The meat and potatoes are MVR and CLUE reports. As we all know, customers usually are not truthful about their records or simply forget when they received that major violation or claim.
Any insurance is overpayment if you don’t have a claim……
The peace of mind of having Insurance is worth the premium, to me (claim or no claim).
Tru that; but what I have seen with new entrants into the insurance world is the prospect does not always end up with the correct/reasonable coverages, and saves premium. When a claim comes they find out the hard way they were covered better with their prior policy….caveat emptor is all I am saying.
I believe you meant that you should get your money back if you didn’t have a claim. Then you changed in your next opinion? It is not IF you have a claim , it is WHEN.
No refund; just saying the insured does not care if they had insurance or not, if they never had to present a claim. Most consumers are not insurance savvy so they don’t know whether they are getting a raw deal or not; unless they’ve got a lot of history with an agent or a company.
I agree with the peace of mind argument but sometimes it goes too far.
I attended the presentation on Tuesday. This is a powerful entrant, far more powerful than any on-line auto shopping tool so far:
1. Credit Karma already has nearly all of the underwriting information in their system for millions of their existing customers. Quoting is effortless.
2. Credit Karma said they will shop more than 2 dozen insurers.
3. Credit Karma’s current customers (80 million plus!) have huge loyalty and positive sentiment for Credit Karma. Credit Karma truly starts with the customer and then works to the solutions. In a word, massive Trust.
Exactly. Information advantage + Large existing base + Trust –> powerful entrant.
Are you saying that they prerun the clue reports (uw info); those are several dollars each?
Finance people have tried many times to sell insurance but it usually is too complicated; it takes time to sell a good policy.
Ask GMAC, the credit company how selling insurance worked out for them. National General bought them because they were going under. A credit score is one tool. The meat and potatoes are MVR and CLUE reports. As we all know, customers usually are not truthful about their records or simply forget when they received that major violation or claim.