Sponsored content: Martyn Mathews, managing director at SSP Broker, says the Which? super complaint underlines how brokers can differentiate themselves by delivering genuine choice and the right products for the rights risks
The recent super complaint filed by Which? is not the first time the UK’s consumer champion has called out what it sees as unfair practices in the insurance sector.
It highlights growing consumer frustration that products often fail to meet expectations and, when claims arise, the process can add stress rather than relief.
One concern is the trend toward pared down insurance products, largely in response to the cost of living crisis.
Streamlined offerings may create efficiency, but they can strip away the flexibility that many customers need. Research has also shown that consumers are spending more time shopping around for the best price.
Shopping around is good practice, but if insurance buying decisions are purely price led, the risk is that a product is bought without understanding cover limits and exclusions. This creates a mismatch between what customers believe they have bought and the cover they actually receive – undermining trust in the industry.
In personal lines like home and travel, where most buyers lack specialist knowledge, this can lead to confusion and disappointment.
This is where the broker channel must reassert its value. Brokers are experts in consumer choice and service. Unlike direct insurers bound to a limited product set, brokers can assess individual circumstances and advise on the most appropriate cover.
In this way, brokers can ensure the right product is matched to the right risk, protecting clients from the pitfalls of one-size-fits-all policies.
Supporting choice
Supporting software systems are a key part of this process. Broker platforms that deliver fast and efficient pricing and product comparison, with a wide choice of schemes allow customers to see cover differences clearly and make informed choices based on their individual needs.
This ability to compare and contrast products is not just useful – it is vital and valued by customers.
Clearer, easier to understand policy wording is also an area the market has been working hard to improve but, again, this is where the broker must bring their own expertise.
AI has an increasing role to play in distilling down the salient points from documents and brokers can then very easily clarify gaps in cover or, indeed, overinsurance.
The Which? super-complaint also draws attention to the importance of claims handling and service quality. If customers feel misled before purchase and then let down at the point of claim, confidence in the industry erodes further. Here again, brokers can differentiate by emphasising advocacy, service ethos and clarity of explanation, rather than focusing solely on price.
As the FCA considers its response, there is an opportunity to encourage more product diversity, stronger disclosures and greater oversight of claims. But we should not wait for regulation to drive change. Brokers can lead by example, showing that the broker model is central to restoring consumer trust in insurance.
In short, the Which? super complaint exposes the risks of a market oversimplified at the expense of customer outcomes.
Brokers, supported by their software house and advances in AI, are uniquely positioned to address these concerns. This is the broking community’s chance to prove its worth – by offering the right products for the right risks and by putting choice, transparency, trust and fairness back at the heart of insurance.
