OnBD with ALF How Oven Chips Changed the Insurance Industry - Jimmy Williams of Urban Jungle
38 snips
Jul 16, 2021 AI Snips
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Transcript
Episode notes
Insurance as an Experience Good
- Insurance, unlike a commodity, isn't immediately understood upon purchase.
- Its value becomes apparent only after time, similar to Japanese toilets, as Rory Sutherland points out.
Customer-First Approach
- Prioritize doing the right thing, even when no one is watching.
- This builds trust and differentiates your brand, attracting customers who value fairness.
Accidental Damage Cover
- Urban Jungle includes accidental damage cover as standard, unlike larger insurers who offer it as a costly extra.
- They found that 70% of claims in their target market are for accidental damage like spilling coffee on laptops.