Worry+Peace, the reviews-led insurance marketplace set to connect the sector, and leading UK broker Be Wiser, are delighted to announce a marquee partnership - the first of its kind for the insurTech. The deal means that Be Wiser will embed Worry+Peace reviews as a core part of their customer feedback mix.
This reviews-led approach by the insurTech uses a custom-built method feedback platform to give providers like Be Wiser deeper insight into their customers' views and experiences of dealing with their business.
Gold, silver and bronze medal ratings reflect positive responses, with negative feedback reported as” banana skin" slip-ups - which can be connected to a complaints team email address if required.
This simple, more powerful reviews model does away with average ratings that reduce buyers to numbers. Instead, it offers feedback tools for experiences that include quote, buying, support and claims experience - segmented by product.
Through reviews Worry+Peace believe they have a fantastic means to connect the entire insurance market. Just as TripAdvisor has done for the hospitality sector - Worry+Peace see the platform eventually offering another route to market in itself.
Worry+Peace founder James York said: “Be Wiser are a leading presence in the market and I’m delighted they’ve spotted strategic potential in our offering.
"Star Reviews aren't fit for purpose as a meaningful and useful reflection of customer feedback in the insurance market. Only a fraction of buyers review experiences, often it's invited at point of sale. This is because it is said to enhance position and reduce costs on search engines - which distorts the feedback entirely.
"We’re creating a new category underpinned by experience where everyone wins - both buyers and providers alike.”
Be Wiser will pilot the new feedback model by inviting people to review their experiences of parts of the customer journey not currently suitable for star rating reviews - beyond just after point-of-sale.
In this potentially landmark move, whilst Be Wiser follows dozens of specialist providers on the platform, they're the first marquee brand to include the new reviews model into their feedback strategy. Their engineering team will also be offered advanced access to real-time integration opportunities - via 40 API endpoints that Worry+Peace is set to unveil later this year.
Be Wiser's Executive Director of Technology Tom Hassall said: "Feedback is absolutely critical to ensure we can constantly improve what we do for our customers, and of course to remain competitive, so we were keen to find new and better ways of doing it.
"The fact that working with Worry+Peace can help create a new distribution category which doesn’t require churn to survive made it a hugely attractive proposition.
"Access to granular data and automatic connections with buyers who are not constantly pitched to switch could revolutionise how we do things and we’re excited to explore its potential further.”