Aviva is launching an industry-first subscription-style insurance product, designed to address concerns and give UK customers more control.
The subscription-style insurance product, AvivaPlus, features a renewal price guarantee, which addresses price differences between new and existing customers.
AvivaPlus offers simple, flexible insurance cover, monthly payments with no APR, no charges to cancel or change, and a renewal price guarantee for home and car insurance.
A key feature of AvivaPlus is the renewal price guarantee, which is aimed at addressing price differences between new and existing customers. The guarantee ensures existing customers are offered the same or an even better price than an equivalent new customer at their next renewal.
AvivaPlus will be rolled out over the next few weeks and will be available to new and existing UK customers who buy directly from the insurer.
The new product also features an easier customer journey, with the number of questions asked during the quote and claims processes cut, and the language simplified to ensure that customers can claim and interact with Aviva quickly and easily.
It will offer quick claims decision on electrical items, such as smartphones and laptops, under £2,000.
Andy Briggs, Aviva’s UK Insurance CEO, said: “We recognise that consumers want the insurance industry to listen to them so we’ve worked with thousands of customers to understand how insurance could better meet their needs and provide the flexibility they want for their modern lives. AvivaPlus is a reinvention of insurance, which has been developed and tested with customers’ needs at the centre, and it’s now starting to roll out alongside our existing products.”
“Like subscription services, it’s designed to make it easy for customers to change their cover as often as they want without incurring charges. Importantly, AvivaPlus addresses price disparity, regarded by an overwhelming majority (82%) of consumers as one of the most unfair practices of the insurance industry. With our renewal price guarantee, which ensures existing customers are offered the same or an even better price than an equivalent new customer, we’re creating a level playing field for new and existing customers.”