At buzzvault, we think the elephant in the room in the insurance industry is that customers aren’t really covered by for the stuff they love, leaving them vulnerable and under protected if the worse happens. 

We revealed this fact at our Innovation Alley Stage Presentation on Tuesday 24th September, with buzzvault CEO and founder, Becky Downing, taking to the stage to tackle this issue head on. 

Forget blanket cover, we believe customers deserve accurate cover based on what they actually own.  That’s why we created hyper-personalised policies and flexible contents inventories, meaning our customers know exactly what they are insuring from day one. 

Despite our presentation coming to a close, the conversation is not stopping there, as we ask some our InsureTech Connect peers what they think is the elephant in the room when it comes to the insurance industry.  Here is what they had to say:

 

What do you think is the elephant in the room?

 

” The elephant in the room for the insurance sector is the fact that there are hardly any brokers here [at InsureTech Connect]”

Gareth Eggle

Our Thoughts

There’s no denying that the insurance industry is evolving, but there’s still a long way to go. That’s why we need people from all corners of the industry to work together and engage in a dialogue that puts our customers at the heart of everything we do. 

 

“I think the elephant is that all of the hype, all of the buzz...a lot of people want to be perceived as innovating, but few people are actually doing it.”

Rob Galbraith

Our Thoughts

At buzzvault,  we know that customer satisfaction goes beyond slick web journeys and faster operating systems, that’s why we’ve created game-changing solutions to real world customer problems.  Now that’s innovative thinking. 

 

“I think the elephant in the insurance industry is that we’re looking for a golden screwdriver of technology to fix everything.  When what we really need to do is fix our processes first so that we have the environment, in order to use the technology properly and understand that every piece of new technology isn’t for every company.”

Our thoughts

At buzzvault, we agree that no one piece of technology will act as a universal solution for all insuretechs, instead requiring more nuanced approaches to address individual customer needs.  That’s why we put as much focus on our technology as we do our company infrastructure, to guarantee that our services can keep up with our products. 

 

“I think customers are worried about their data.  So, it’s about reassuring them that you are going to use their data in a way that they agree to, that you’ve got their consent, that they own that data.  And if you’ve got that you can win their trust, otherwise trust is not going to grow as insuretech grows, and we need them to grow together.”

Melissa Collett

Our thoughts: 

We agree with Melissa about the importance of customer trust.  As an insuretech, we take the security and safety of user data very seriously, that’s why we never use this information without customer consent and use bank and government grade technology to protect it. 

 

Where to find us

We’re at InsureTech Connect 23rd – 25th September! Find us at Booth #K61 (Grouping SBC).

 

Press, Media & Partnerships: louise@gobuzzvault.com

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