Belgian ICMIF member The P&V Group (which includes the P&V and Vivium brands) last month launched a new type of insurance for the Belgian market. This is an "on-demand" insurance product where the customer decides when to activate or deactivate it. This concept, called CliCover, will first be applied to motorcycle damage insurance.
CliCover: the customer chooses the days when he/she wants to be insured
The idea came about from a request from people in Belgium who use their motorcycle for leisure purposes and who do not want to pay an annual premium for material damage when they only use their motorcycle for a short period of the year. The P&V Group found the answer to their customers’ needs with its new on-demand insurance product CliCover. The customer uses a user-friendly application to indicate the day(s) on which he/she wishes to insure against material damage, either in advance or even the same day before taking to the road. The customer only pays for the days entered in the application. However, the civil liability insurance, required by law in Belgium, must still be paid on an annual basis. Assistance from P&V with making a claim is available at all times, even if the customer has not recorded a trip in the application.
The new insurance product was co-created with motorcyclists
From the start of the development of this new product, motorcyclists were involved in the process of this insurance, as part of a community which was specially created to work together to try to bring this to market. The motorcyclists provided valuable information on their driving habits and preferences, as well as feedback on existing motorcycle insurance policies. Motorcyclists also actively participated in the testing and evaluation of the application. CliCover motorcycle insurance is currently in the final test phase and will be available in the second half of 2019.
David Destappes, Director, Head of P&C Business Development and Head of Technical at P&V and a member of the ICMIF Intelligence Committe said: “On-demand insurance is a concept in which we strongly believe, and which we will develop for different types of insurance in order to offer ever more relevant solutions that better meet our customers' expectations”.
At the ICMIF Biennial Conference (12-15 November 2019, Auckland, New Zealand), innovations of this type will be discussed with ICMIF members and external speakers examining the opportunities for cooperatives/mutuals to strengthen relationships with their member-customers by providing customer convenience through technology whilst maintaining high levels of service excellence. ICMIF members will present their approaches to developing and embedding a culture of innovation and becoming an agile organisation in order to improve efficiency, respond to change and enhance customer value.