FR: How has business changed in the wake of the Retail Distribution Review?
We are definitely seeing the RDR contribute to increasing sales volumes at Uinsure. Our model has had to adapt so different broker profiles with different customer needs are offered simple sales fulfilment options. This means what was already market leading technology has been further enhanced and new services like our Refer&Earn introductory service have been created.
FR: What do you feel sets you apart from your competitors and means brokers and IFAs continue to bring business to you?
We listen to broker feedback and implement as much change as we can from the information we receive. Feedback has recently led to delivery of improved point of sale technology which is visually striking and easy to use. This is importantly supported by our common policy wording being applied across five providers – this keeps things simple for brokers as they only need understand one set of policy criteria but have all five providers competing to win business on price.
FR: Do you agree that steps need to be taken to mitigate the issues surrounding dual pricing? If so, what?
The principal of attracting new customers with headline rates but offering existing customers higher terms is fundamentally wrong. Similarly it is also unfair to apply significant increases without reason at customer renewal. We mitigate risks at Uinsure by only working with trusted insurance companies who are recognised as household names by consumers. We meet with these providers each month and hold them accountable for consistently fair pricing, claims settlement performance and general service delivery.
FR: What have been some of Uinsure’s key milestones over the past couple of years?
Uinsure is now in its sixth year of trading and I take great satisfaction in the fact that during 2013 we have achieved record sales volumes. I know personal highlights for our CEO, Simon Taylor have been the delivery of a `next generation` technology platform and also the creation of the common policy wording which competitors have started to copy.
FR: If you were in charge of the FCA for a day, what would you do?
I'd appoint Rob Sinclair, currently director of the Association of Mortgag Intermediaries, to the highest senior position available. Over the years Rob has worked tirelessly advocating the value brokers play in the UK marketplace. It remains crucial consumers continue to receive advice from brokers and there`s no better person than Rob at lobbying and influencing regulators or government.
