Incorporating the Business of Risk
 
THE GAP BETWEEN FICTION AND REALITY

What do Customers want ?



Customers need...

A) Education
In the entire GCC, the only market that is doing something is Bahrain. It is the only market where the regulators are getting involved in awareness, sponsoring educational initiatives and awareness publications. It is the only place where its local insurance society shares information, exchanges ideas, and gets together.

B) Tangibility

Insurance is no more than a promise written on a piece of paper. It’s a promise most customers do not understand, do not trust, and view as an irritating cost rather than a form of protection.

Insurers need to embrace the customer, need to publicize their claims paying records.

Make their marketing materials more attractive, even incentivise the customer.

C) Service
Service is a no brainer, however this is where the gap between fiction and reality really exists. Most insurers believe they are providing a good service. Just because you offer your clients a hotline, or online access, it doesn’t mean you know anything about service. Service is about cutting lead times on claims. Service is about being sympathetic and empathetic to your customers. Service is about giving the client the benefit of the doubt. Service is not about doing your job. Its about helping your customer do theirs. Its not about the extra mile, its about the extra ten miles!
 
   UPCOMING CONFERENCES
   PHOTO GALLERY
   COVER  STORIES

The Power of Distribution

The Environment and
   Business

Focus: Feedback and outlook    from Bahrain's Insurance    leaders

The Gap between Fiction    and Reality

How Safe is your Business ?

   CRITIQUES

Are we fooling ourselves ?
   Regional Round up


Don't shoot the Messenger

A rated, absolutely    guaranteed not to pay your    claim

   REINSURANCE PRACTICE

Painting the Market with    Plastic and E&O

The Danger of mixing    Claims with Premium

What is Contract Certainty    in the Placing Process ?

What is a PPW ?

    NEWS ARCHIVES

    RELATED LINKS

www.limestreetblog.com

www.channelrisk.com

www.menainsurancesociety.com