I’ve just come across a new site which promises to “put the power in the hands of the insurance customer, not insurance companies”. The interestingly named Zuzzid gives you the chance to speak about your experiences with insurers and their policies, across all types of insurance, by either “ranting” or “raving” about them.
Whilst this is an interesting idea, and is done in a very modern, social (dare I say Web2.0) way , what is slightly worrying is that the site is owned by Norwich Union. So whilst it promises to give the power back to the consumer, there’s a nagging feeling that NU are going to be getting something out of it. Exactly what, I’m not sure as yet.
Let’s just speculate – Norwich Union are getting people to talk about the experiences, both positive and negative, with themselves and other insurers. That’s gotta be pretty valuable data – can they use it to develop their products and services, including pricing? Now, this sort of information is being posted in many places over the internet, but having it posted to a site they own must make it much easier to monitor.
Whilst I’m all for companies talking to their customers, whether in financial services or not, talking to other people’s clients is slightly scary. Or am I paranoid?