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Whilst insurers are seemingly squabbling about who owns what (Hill House Hammond being a current example), it might be timely to start thinking along the lines of who does Own the customer'.
Ultimately the customer (me, if you like because I do buy insurance) decides where and with whom to place the business. Now, I can be persuaded. I can be influenced by good service, personal service, and a competitive premium alongside competent advice, answers to my questions, and a feeling that my money will be secure. Issues that make the relatively painful process of parting with a goodly sum of money easier and less stressful. Overall, I seek a feeling of value for money, peace of mind and security.
Now NU may feel they own the customer because they owned HHH. Others amongst the HHH panel of insurers may feel differently. Whilst the debate goes on, customers will be seeking alternatives. When the latest branch of HHH (or whoever) closes down, I believe the customer thinks, "Oh well, another company has gone bust" - just the same as when a retail shop on the same high street closes. The only difference perhaps, is that the retailer has a closing down and...