How can insurers get themselves notices on TV these days?
Malcolm Gladwell’s book What The Dog Saw includes the interesting story of Ronco, the people who brought us the ‘Veg-o-matic’ and the ‘Inside the Shell Electric Egg Scrambler’. What Ronco realised in the 1970s was that the best way to showcase a product was to demonstrate it on television – they became a household name through their TV commercials.
So how can insurers and brokers demonstrate their products? With one in 10 adverts now telling us to shop around for cheaper insurance, it is increasingly hard to be different. Who will take up the challenge and spend the money that Ronco did to demonstrate their product?
Perhaps the cash is better spent elsewhere. My view is that if you really want to put your money where your mouth is, ask your customers for their feedback. The only other alternative is to wait for Ronco to invent the customer service-o-matic …
Clive Nathan is chief executive of Towergate Underwriting