Suprising new marketing techniques
The first talks about ‘sharks’ and highlights the value of retaining policies for the long-term. His business is focused on getting clients to take out enough cover and hold it for a long time. In other parts of his documentation he quotes Asteron Life statistics showing the average age of cancellation of products, and the average age of claim.
His business is the insurance equivalent of the buy-and-hold strategy to optimise value. Product and insurer selection are given a reasonable focus, but within the context of an overall planning approach which also picks up a wider financial planning and risk management context.
The other adviser talks extensively about product change.
He gives real-world examples of premiums being hiked when policies have been in-force a while and the changing features and benefits. He goes into some detail about different claim scenarios and what is paid when. He compares the likely pay-out amounts and studies the detail of product and provider selection very closely.
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