Five stars for Fast Trade, for the fifth year running
In this year’s Insurance Times eTrading Report, Aviva’s Fast Trade platform was awarded five stars, for the fifth year running and our service via eTrade received a five-star rating for the second year in a row1. Thank you for your continued support.
In this article, David Hockey, Aviva’s Director of Digital Trading, shares his reaction to this year’s report, reflects on what makes up a five-star proposition and looks ahead to some exciting deliveries later this year.
“I’m really proud of the recognition Aviva have received in this year’s Insurance Times eTrading report and believe this is recognition of the hard work that our teams put in to support brokers who choose to trade with us online.
I’ve spent a lot of time with brokers at the start of this year as part of Aviva's Broker Roadshow programme. It’s clear what brokers expect from insurers when it comes to trading online. They want a consistency of service – whether that’s on the phone, Live Chat, or on referral cases – and they expect access to underwriting expertise. Our role is to continue to make sure our focus, investment and resource is aligned to what brokers want from us when trading online, no matter which channel they choose to do that through.”
Delivering a five-star proposition
“While there’s a number of factors that go into what makes up our offering via Fast Trade and Etrade, instinctively there’s a number of elements I’d pick out that set us apart:
- Service model – by forecasting future demand, we’re able to recruit ahead of time to maintain that consistency of service brokers expect. Complemented by reviewing our service model, we work with brokers to help them to understand how to get the quickest service possible during busier periods.
- Continuous change – we know it’s the small things that make a difference. While we invest in ‘big ticket’ innovations and new capabilities, we invest just as much time in finding opportunities to improve anything from the user experience, question sets, journeys, rules and criteria.
- Tackling underinsurance – to help brokers identify clients who may be at risk, we delivered new capability on Fast Trade for Property Owners to instantly flag inadequate Sum Insured limits in the quote journey. Integrating our Commercial Intelligence Capability (CIT), we can even give brokers a recommended limit where we’ve enough data to do so.
- Cross-sell opportunities – Fast Trade leverages analytics to showcase additional product recommendations for the client based on what other clients of a similar risk profile to theirs typically insure.
One of the areas I’m most proud of is how we’re supporting brokers to place more online.
We changed our set-up last year, specifically for Commercial Combined Insurance (CCI). For quotes for risks that don’t quite fit our online appetite, brokers can now easily refer cases from Fast Trade or Acturis Etrade into a new dedicated team of offline underwriters. The team work collaboratively with brokers to help them quote for more CCI business that may have fallen through the gaps between digital and Mid-Market before.”
“Brokers can expect more of the same as we carry on the path that’s got us to where we are today. We’ll be looking to expand upon existing capability like the underinsurance flag and reviewing where else we can introduce the underwriting referral model used for CCI today. In addition, we’ll continue to broaden our Specialty Lines offering with a new Plant & Equipment product, as well as looking at how we can expand our Cyber offering.
Once again, a huge thank you to brokers for the recognition this year, and over the last five years. I’d encourage them to keep talking to us and sharing feedback so we can continue to provide a proposition that works for them and their business.”
Director of Digital Trading
1 Results from the 2023 Insurance Times eTrading Report