Sunday, February 19, 2012

IF Insurance experiment: Sorry I Forgot IF's Opportunity

Sorry i totally forgot this from my previous post, IF have an opportunity here. I must be stupid!!

After i finished the previous post i realised perhaps i had been thinking about this the wrong way around. In short i switched back from the customer perspective to the corporate perspective.

Instead of thinking about what the risks were for IF in terms of not generating a positive outcome for me their consumer, i should have thought about what are their current opportunities?

IF have not yet responded to my original request on their Facebook group. This of course means that they have not yet decided how to respond or what to do.

What IF?

Straight out of the blocks they respond by saying

"Yes we would be happy to pay your claim, we are sorry"

What a turn around for me personally i am totally satisfied, the social media experiment is a total success and i get my money back :-)

What do IF get?:
  1. IF settled a claim publically and silence and negativity and remove all risk.
  2. IF get a brilliant customer service story to tell and re-use in their marketing for an absolute bargain price. You cannot buy that kind of exposure.
  3. IF will reduce their resource consumption and costs on this issue. IF must have already spent 10 hours on this claim with a cost in Finland to IF of at least 500 euros. Coincidently the amount that this claim is worth approximately.
As companies always think about ROI, what is the ROI of continuing to resist paying out this claim?

Financially it will continue to cost them money as they will continue to have to deal with at least my traffic on their website, what about damage to reputation and brand? What is the risk? What is the optimum financial way for IF to deal with this now.

If I was a business manager at IF i would settle, reduce the risk, limit the costs and get a brilliant marketing story to tell but that is just me. And all for the bargain price of 500 euros.

Let's see what happens tomorrow :-)

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