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SunLife has announced its most successful start to the year in over 50s life insurance for more than five years – with sales up 12% on the same period last year. And managing director Dean Lamble believes the reason for SunLife’s increasing dominance of the market is – literally – simple. |
“Our customers crave straightforwardness,” he says. “A simple product that doesn’t try to confuse them with esoteric features, clear benefits, no jargon and a simplified customer journey. “It’s what customer research says over and over again: customers think financial services brands often make their products too complicated. We’re delighted that customers recognise that we’re listening to what they want.” The ‘big four’ of the over 50s life insurance market are SunLife, Aviva, LV= and Legal and General. While SunLife is the market leader with over half the direct market, what each brand has in common, Dean says, is their desire to offer customers straightforward value. However, what makes SunLife different, says Dean, is its focus on innovation that makes sense to customers; the option for younger customers to stop paying into their policy sooner, the lowest premium on the market* and a great customer experience means 91% of SunLife customers believe SunLife is ‘the UK’s most straightfordable insurance company’ and 91% saying SunLife is ‘good value for money’. |
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