Insurance education pays off with happier customers

Many consumers continue to struggle with inflation and rising auto and homeowners insurance premiums. But the businesses they rely on – like auto dealers, mortgage brokers, real estate agents and banks – can offer a solution courtesy of a strategic partnership: access to a digital platform that helps consumers better understand their insurance needs and even lower their risks.

The need for greater insurance education is critical, especially when you look at the way Americans feel about their auto and homeowners policies. An October 2022 Harris Poll sponsored by VIU by HUB found that nearly 60% of auto/homeowners policyholders worry that rising inflation and the dynamics of the economy increase their risk of not having enough insurance when a disaster occurs. The online survey, which included 1,600 Americans with auto/homeowners policies, also revealed:

• Nearly half (46%) made a claim on their auto/homeowners policy in the past five years.
• Twelve percent made a claim within the past year, and of those who made a claim, nearly three in four said the insurer did not cover it as expected.
• Eighty percent also said there are aspects of their auto/homeowners insurance that they want to learn about or better understand.

Insurance education pays off

Bryan Davis, EVP and Head of VIU by HUB, says, “Consumers are right to be concerned about the possibility of coverage gaps, as the economy is changing quickly, and many people are unknowingly underinsured. Insurance education and insight can alleviate those concerns, and expert advice can help consumers put ideal coverage and protection in place."

A strategic partnership with a trusted, national insurance broker like VIU by HUB enables organizations to provide their customers with a technology platform that offers unbiased insurance education and expertise to guide the shopping process. VIU by HUB can provide important and timely information that your customers need, covering topics like explaining homeowners policy terminology, how to determine the ideal level of coverage for your automobile, key considerations before you renew a policy and more.

Ultimately, an educated customer will be a happier customer. By partnering with VIU by HUB, your customers will benefit from access to insurance education long after the policy purchase is successfully completed, building “forever clients” for your business.