Insurance Scheme Case Studies
A leading PLC in the UK provides our Bill Protector scheme as a benefit to over half their customer base – over 300,000 households.
The scheme is very simple and extremely transparent. It is not based upon income at all, if those customers who are covered are either made redundant or have an accident or sickness that stops them working they benefit from up to £150 per month towards their utility bill for up to 6 months.
It covers everyone up to the age of 90, who are employed, self-employed or even unemployed against their suffering from this type of short term financial distress.
Customers commit on a monthly basis and can cancel at any time.
Every month our partner sends us through a list of every customer to be covered the following month. That is the full extent of their administration, Seico do the rest.
The scheme is highly profitable for all parties and very popular with customers.
The aim of the scheme is to provide an incentive programme to qualifying customers to encourage them to increase business. Should they increase their monthly commitments the scheme provides them with a combination of services free of charge.
The products are all high value and provided at a low cost as a result of the high volumes involved. They are based upon the idea of helping customers when something out of the ordinary or unplanned happens that puts a strain on the family budget.
Examples of cover are:
- Accidental Death – £10,000 accidental death life policy
- Payment Plan Protector – a policy that covers a customer’s payments for up to six months if they are made redundant or cannot work as a result of suffering an illness or an accident.
- Extended Warranty – an extended warranty to provide Breakdown cover on white goods. Typical items include TV, Washing Machine, iPad, Dishwasher etc.
- Home Emergency – a call out and repair service that covers: Plumbing and Drainage; Failure of Electricity Supply; Failure of Internal Gas Supply; Failure of Mains Heating Supply; Failure of Hot Water System; Roofing; Security
We have been asked by a national health club business to provide a pared down health policy that allows club members to claim up to £250 per year of physiotherapy from the gym’s own physiotherapists as part of an added value gym membership.