Make the most of insurance 'on-ramps'

Last updated on August 18, 2022
At Allianz, we’ve identified a number of stages in the car-buying journey where dealers could discuss insurance with their customers.

Vehicle insurance can often feel like a ‘grudge purchase’ for customers. Many of us buy insurance unenthusiastically, and we hope and sometimes even expect that we never have to use it.

At Allianz, we recognise the importance of taking out trusted insurance cover on anything that has value. Why risk the loss or damage of your shiny new vehicle, by not taking out adequate cover?

We’re also firm believers in making it easy for customers to understand the value of motor vehicle insurance. We can do this by giving customers opportune moments to consider products and enabling them to make an informed purchasing decision.

We like to call these moments ‘vehicle insurance on-ramps’. On-ramps are points along the buyer journey when dealers can raise the topic of vehicle insurance with their customers, provide useful information and help them find a level of cover that’s right for their needs.

Essentially, they are moments when car buyers are more receptive to having conversations about motor vehicle insurance.

We’ve summarised these key moments in our easy-to-read illustrated ‘Vehicle Insurance On-Ramps' guide. The guide is designed to help your sales team and Business Managers know how and when to have a conversation with buyers about insurance.

The information we’ve compiled is based on a 2020 survey on customers’ car-buying journeys and their experience of purchasing insurance.

As part of the research, we conducted in-depth interviews with customers. We then quantified our findings via an online survey with more than 4,000 customers who had either received a quote or bought insurance via a dealer.

The objective was to understand what customers are looking for at each point in their journey, their goals and expectations, where pain points lie and what the high and low points were. We’re using this information to make sure we deliver great customer experiences at every stage – and to help dealers start a conversation that adds value.

The survey revealed a large number of important insights that may help dealers when discussing motor insurance.

Did you know, for example, that two-thirds of customers have already given thought to vehicle insurance before they negotiate a deal to purchase their vehicle? Or that customers’ engagement with their dealership peaks at the point they can visualise owning and driving their chosen vehicle i.e. at the point of taking a test-drive?

We’ve matched these insights with opportunities to engage with customers during the five key stages in the buyer journey:

1 Research. Build awareness early.
2 Choose Vehicle. Make use of customer downtime.
3 Negotiation and finance. Engage the customer with a value conversation.
4 Vehicle delivery. Make the customer feel valued.
5 Ownership. Make the customer feel informed.

It doesn’t matter what product or service a customer is interested in, they rarely decide to buy on a whim. Customers go through a process whereby they become aware of, consider and evaluate, and then decide to purchase.

With the help of the Vehicle Insurance On-Ramps one-page guide, we support sales staff and Business Managers to have the ideal conversations with their customers at the right time, in turn maximising the benefit to both customer and dealer.

View the guide on the Allianz workbench.

Disclaimer: All customer contact must take place in accordance with Allianz’s sales and conduct requirements, including compliance to Anti-Hawking legislation
This article has been prepared by Allianz Australia Insurance Limited ABN 15 000 122 850 AFSL234708 (“Allianz”). In some cases, information has been provided to us by third parties and while that information is believed to be accurate and reliable, its accuracy is not guaranteed in any way.

Any opinions expressed constitute our views at the time of issue and are subject to change. Neither Allianz, nor its employees or directors give any warranty of accuracy or accept responsibility for any loss or liability incurred by you in respect of any error, omission or misrepresentation in this article.
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