Six Things 5.16.23
Insurance Thought Leadership
Transforming the Insurance Industry - Welcome to the Conversation
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Paul Carroll, Editor-in-Chief of ITL
As insurers complain that younger people aren't buying enough insurance and wonder how to reach them, I observed an object lesson last week in what not to do.?
My daughter Shannon was offered a position that paid enough and was interesting enough that she was considering taking it even though it doesn't come with health benefits. As we discussed the pros and cons on the phone, she did a quick search to see what health insurance would cost her, and... look out below.?
The calls started pouring in—five, six seven, eight... even before we wound up our brief call. More than 150 calls hit her phone in the 24 hours after her tentative inquiry.?
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When she answered a few calls, to see if she could politely tell companies to shove off, she mostly got a rude, hard sell. One rep told her he'd leave her alone as soon as she signed a contract.?
I'm sure there's plenty of data about how the first person to respond to an inquiry is the one mostly likely to make a sale, but I'm guessing that there has been less thinking about the effect on a millennial when scores of companies try so hard to be first that they shock a young prospect with an onslaught of calls. I'll bet there's data, too, on how well hard sells can work on people contacted by phone, but, again, there's a cumulative effect, especially on those experiencing insurance for the first time.?
Shannon isn't just ready to tell health insurers to shove off. She's ready to tell the whole industry to take a hike.
I'll let her explain.??
Editor-in-Chief at Insurance Thought Leadership
1 年Mark Breading that lovely piece your wife did on how telematics was trying to make her a bad driver was in the back of my mind when i asked my daughter to write this.