The perfect fit

Kate Hughes speaks to Glenn Caton about what is at the heart of a truly great brand

When Glenn Caton believes in something, he sticks to his guns. The Hiscox Sales and Marketing Director’s world is all about certainty, a message that he believes fundamentally sets Hiscox apart from the pack. What is already certain is that this message is starting to gain momentum, both on the front line and behind the scenes.

For Glenn, recently promoted from UK Marketing Director, delivering that message actually begins by keeping schtum. He is fast making his mark as a listener, taking the customer to the heart of business strategy and product development, just as many insurers, he believes, are marginalising them.

Glenn’s mantra is simple but effective: that customer service has to start with the customer, rather than ending with them. “We want the customer to make the decision about what they want from us, not for us to impose an ill-fitting solution on them,” he says. “We find out what customers need, then design products and services that better meet those needs than what our competition offers.

“What I want is for the customer to feel confident they are getting the product and service they are seeking in an ideal world, not that they have settled for something that is the closest fit.”

Bespoke service

Glenn says setting Hiscox apart from the pack is all about highlighting differences. “We want to continue to build service awareness to push this differentiation. Ultimately, we want to be the clear choice for those who want excellent service. I want more people to hear that message and for that message to resonate more and more strongly.”

Hiscox launched its new advertising campaign in August, which revolves around the theme of certainty. “The message we are pushing is that you can be confident in Hiscox,” says Glenn, “and we have compelling evidence to prove it. We know, for example, that half the claims we pay, on a normal day-to-day business basis, would not have been covered by a standard insurance policy. We want consumers to come away with one belief: you do not have to doubt that you are protected. We are turning doubt into certainty.”

Further fuelling this message is the drive to separate Hiscox from the broader insurance market – a market that is obsessed by cost reduction in order to achieve short-term gain, which is a strategy Glenn believes is putting the entire industry at risk.

“This is an industry that is focused solely on price,” he says. “Every message is about the cheapest, lowest price. Consumers are bombarded by companies that claim to be a few pence cheaper than the rest. All that happens is that it becomes a self-fulfilling prophecy, devaluing the product, the service and the industry itself.”

Paying for quality

But perhaps breaking that downward spiral isn’t as difficult as it seems. Glenn suggests it is simply about keeping the customer at the heart of what Hiscox does.

“You need to value and have confidence in a brand to the point that you will pay more for a brand you trust,” he says. “We do not see the consumer as a liability. Claims are not seen as a cost for us. Our consistent message is that if you are unfortunate enough to have to claim, we want you to be certain about the service you will receive from us.

“It does mean our claims costs are higher than the industry average,” he admits. “But this is because we want to develop our reputation in the long term. The way we are standing apart is by demonstrating that we do the right thing. Every time.”

Doing the right thing for the right people is not just about front-of-house marketing. Behind the scenes, Glenn’s strategy is the same as his attitude towards prospective clients – it is all about the people, recognising their value and building on that. He is well aware that the human element is a business’s most valuable resource, particularly in insurance, which is a brains-based business.

“If we don’t have the best underwriters, we will not deliver industry-leading products, profitability and return on equity,” he says. “Great people are fundamental to the very survival of the business.” Having a strong team, he says, is also good news for staff recruitment and development. “The best people will attract, retain and motivate the best people.”

Glenn Caton is making waves, developing a brand and an ethos that will set Hiscox apart. But was that ever in any doubt?

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How we're learning about our customers

Our programme to gain a good understanding of our customers is now well under way. Here’s what we’re doing:

• Household
We have worked with our potential customer audience of medium and high net worth households to learn about their attitudes towards insurance and what is important to them, and now have a good understanding of how they make their purchasing decisions.

• Commercial
We conducted interviews with a range of SMEs to understand their fundamental insurance needs, how they develop a business policy, how they find a broker and what they like and don’t like about the relationship.

• Upcoming projects
We will also be segmenting potential customers according to the various attitudes they have towards purchasing household insurance. Who is price-driven? How many use trust as a key driver? By focusing on key segments we should be able to tailor our products and services to better meet the needs of these customers.

 

 

 

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