Aviva has launched a new subscription-styled insurance product to give UK customers better controls over their cover.
The new service, AvivaPlus, provides flexible insurance protection through monthly payments with no APR or any charges for cancelling or making changes.
A key offering of this service is a renewal price guarantee which aims to remove the price differences for new and existing customers. Its solution ensures that when renewing home or car insurance, the customer is given the same or a better price for the policy, than what a new customer would be receiving.
This new solution will be released within coming weeks and shall be available to new and existing UK customers that buy directly from Aviva.
On launch, consumers will be able to purchase home or car insurance at three tiers of coverage, enabling customers to choose the level and price which suits them. Policies have been simplified and the process for changing tiers has been made easier.
Those who wish to buy car and home insurance together will receive a single renewal data and multi-product discount.
To ensure an optimised customer experience, AvivaPlus has lowered the number of questions during quote and claims processes, and the jargon has been simplified.
Aviva UK insurance CEO Andy Briggs said, “AvivaPlus is a reinvention of insurance, which has been developed and tested with customers’ needs at the centre, and it’s now starting to roll out alongside our existing products. Like subscription services, it’s designed to make it easy for customers to change their cover as often as they want without incurring charges.
“Importantly, AvivaPlus addresses price disparity, regarded by an overwhelming majority (82%) of consumers as one of the most unfair practices of the insurance industry. With our renewal price guarantee, which ensures existing customers are offered the same or an even better price than an equivalent new customer, we’re creating a level playing field for new and existing customers.”
Copyright © 2018 FinTech Global