Aviva boss Wilson says his firm is at a huge data advantage to help customers
Aviva boss Mark Wilson (pictured) says asking customers numerous questions is ‘repellent’ - and his firm will cut them down.
Speaking at today’s investor day, Wilson said Aviva can use the data - of which it has a huge advantage over competitors - to cut down questions.
“We don’t have to ask questions over and over again,” he said.
”This reduces what we call the repellent factor for customers. Many of whom, in fact most of whom, I expect customers in the room, detest the inquisitions most of the time they want to buy a product.
“That is the whole reason intermediates have been forced into the equation. And it allows us to target customers and effectively underwrite them at really good margins effectively.”
Wilson said monoline and specialist insurers had been most successful, but now the business world was entering a period where the composite insurer - such as Aviva with general insurance, life and protection - will thrive.
Wilson said due to its composite size, Aviva has ‘more data’ and ‘better data’ that it can analyse to improve customer service.
“I believe that composites will come to the fore,” he said.
Wilson has previously announced Aviva is aiming for zero questions home insurance policies.