Debbie Bolton on underwriting, simpler protection and trust – MAF158m

MPAF Podcast, , , , ,

This week we dive back into the world of financial services and protection. My guest is Debbie Bolton.

We talk about underwriting, protection product development and whether products and processes are getting simpler for customers.

Welcome to episode 158 of the Marketing and Finance Podcast.

Debbie Bolton on underwriting, simpler protection and trust - MAF158

What you’ll hear about in this episode

  • A simple definition of underwriting anyone can understand
  • The role of an underwriting development team in an insurance company
  • How AIG Life is speeding up the application process for protection products
  • Why the industry is trying to simplify insurance products
  • How AIG Life works with financial advisers
  • Why trust is a three-way process

Who is Debbie Bolton?

Debbie works for AIG Life. She’s responsible for claims and underwriting strategy. She’s been in the insurance industry for 20 years. 17 in underwriting. The role was completely different when she started, for example, paper-based with stacks of case files.

Starting off in smaller companies, Debbie progressed in her career, moving to Ageas (as AIG was then) as manager for the underwriting development team. The company represented innovation, technology and automation. It was an exciting place. And she says it still does. Debbie says the work is fast-paced, and she loves her job.

Summary of our chat

Underwriting is the combination of science and maths to work out a price for a customer. It looks at an individual’s health, their hobbies, occupational risks and where they travel. Healthy office-workers will pay a lower price than unhealthy people in dangerous jobs.  But the aim is to charge as little as they can so everyone benefits.

Debbie’s team differs from typical underwriters. They set the philosophy of the company.  They’re involved in all AIG Life’s developments. From products to technology. They manage the rules engine, to incrementally and continuously improve the processes for assessing, simplifying and pricing risk.

AIG Life is aiming its “Instant” product at younger, healthier customers who want to take out protection at speed. The application process has no interruptions. So after completing a form, a person knows straight away whether or not they’ve got cover. AIG Life came up with a shorter list of questions people can complete quickly. It offers a favourable price.

Debbie says companies are simplifying products and the processes. She explains that AIG Life customers want instant results. They want their insurance policy as quickly as possible. The shorter quiz has specific questions for identifying risks that would increase premiums. It often cuts out the need for medical evidence.

The response to the “Instant” product has been overwhelmingly positive from financial advisers. AIG Life has a team of underwriters who speak to advisers every day. Their feedback gives the strategy team a better understanding of the issues they face and helps product development.

There needs to be trust between the customers, the advisers and the underwriters in insurance companies. Being available to the advisers builds trust with them, particularly those writing complex cases, so they know they’re getting the best rates. AIG Life want the public to have confidence in their automated service, and to trust the information they offer.

The one thing she’d like listeners to take away

Underwriters and claims assessors are the technicians of the whole case. They decide if a case can be underwritten or a claim paid. As a rule, underwriters start from yes; they want to get a case on the books or pay a claim, as quickly as possible. They don’t want to say no to people.

A marketing campaign or product Debbie loves

Debbie’s recently been impressed with parcel delivery. Wanting to send something to New Zealand at Christmas, she researched a quick and simple solution to get it there in time. She found a company online which gave her a competitive quote, collected her parcel and shipped it six hours after she started looking.

Links and contact details

If you enjoyed – Debbie Bolton on underwriting, simpler protection and trust – please leave a comment or a review on iTunes.

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Engaging storytelling and simple marketing – two podcast appearances

Content & Social, , , ,

On Thursday’s I publish my latest podcast episodes

Most week’s it’s an interview with someone from the world of marketing and finance.

I love interviewing people and learn so much from them as we discuss a wide range of topics.

But I also get interviewed on other people’s podcasts too. This week I’m sharing two recent examples:

Engage with Story Podcast with Ben Amos

Ben runs an Australian company called Engage Video Marketing. He’s also a passionate advocate of storytelling in marketing. Each week on his show he examines storytelling in detail.

Engaging storytelling and simple marketing - two podcast appearances

Ben called my episode, “Taking the BS out of Business Storytelling”.

Here’s what he had to say:

“This episode is all about clearing out the BS that can so often surround story marketing. My guest is a marketing consultant and educator who helps people keep their marketing simple in a world where business BS and complexity threaten to stifle success. He is Roger Edwards, from rogeredwards.co.uk.”

You can listen using the media player below.

Hot Content Marketing Podcast with Natalie Hailey

Natalie launched the Hot Content Marketing Podcast at the start of January 2018 and I was delighted to be her first guest.

Natalie, a mum, Italiophile and foodie just happens to have an overwhelming urge to show the world that they can succeed in business, on and offline regardless of age, insecurities and industry.

Natalie called my episode: How to keep your marketing simple (which as you know is one of my favourite subjects).

We talk about:

  • The importance of jargon-free writing
  • His 3 rules of simple writing
  • A great tip for getting that dreaded first draft down ‘on paper’
  • His basic marketing strategy questions

You can listen using the media player below.

Now it’s your turn:

If you enjoyed these two great podcasts please give Ben and Natalie your support. Check out some of their other episodes on iTunes and maybe subscribe to their shows.

Louise Harnby on self-publishing, marketing strategies and why branding matters – MAF157

MPAF Podcast, , , , , , ,

My guest on the show this week is Louise Harnby.

If you’ve got a novel in you and you’re looking to get it published, Louise has some great advice to give. We also talk about how she’s built her personal brand and about how she markets her business.

Welcome to episode 157 of the Marketing and Finance Podcast.

Louise Harnby on self-publishing, marketing strategies and why branding matters - MAF157

What you’ll hear about in this episode

  • The importance of sharing your story in your own voice
  • Why self-published authors deserve professional editing services
  • How Louise got into content marketing
  • Why brand identity is essential
  • Why marketing advice should be given in plain language
  • What’s gone well and what hasn’t as she’s built her personal brand

Who is Louise Harnby?

Louise started out working in-house for an academic publishing house in the 90s. After she had a child, she decided to reassess her work-life balance and set up her own copyediting and proofreading business.

Today, she helps self-publishing authors to prepare their fiction books for market. A passionate advocate for storytelling, she found herself disagreeing with ‘literary snobs’ who say writers need a mainstream publisher, as she believes everyone should be able to share their words.

Summary of our chat

Writing is a great way of bringing clarity to your thoughts – to consolidate and structure them. When you create your own words, you know they’ve got your heart and voice in them. Writers sometimes worry that an editor will take that away. But Louise’s job let the voice of the author speak.

A writer may have a great idea for a book. But there a big enough market may not exist for the publisher to bother with it. However, the writer should still go through the same stages of production. That’s where people like Louise come in.  To smooth and correct the text so readers enjoy the story.

Louise loves marketing and found content marketing by accident. She didn’t read up on it. Her blog, created to answer frequently asked questions and save time, started showing up in search results. She realised that adding value and giving away advice for free was helping her to show up in search.

To attract independent authors, Louise realised she needed a strong brand identity. She found much advice telling her what she should have but not how to create it. And the advice was full of jargon. Defining her identity has led to more enquiries from her target market.

The language used to talk about marketing from an academic point of view can make people feel excluded. It’s valuable to learn from people who speak in plain language and speak to you in a way you understand. Otherwise, you’re made to feel different or not cool enough for marketing.

Louise learned a valuable lesson about segmenting mailing lists when she had subscribers getting the same messages twice. A problem she quickly fixed. She says that becoming more efficient with marketing saves time.  And it’s important you are authentic with your content and to give people the best advice.

The one thing she’d like listeners to take away

If you feel like you’re running around like a headless chicken when it comes to marketing, invest some of your budget on pro marketing and advice. This means you can make strategies and not worry about what to do.

A marketing campaign or product Louise loves

Louise thinks chatbots are the most exciting development. She’s used them in her own business. And explains that although they’re high-tech, you don’t have to be techy to use them. They’re easy to create and you can build an effective marketing campaign in no time.

Recommended books

Louise couldn’t pick just one book!

Write to be Published, by Nicola Morgan, is a comprehensive guide on how to write a book that’s readable and publishable, whether fiction or non-fiction.

She also recommends Sticky Marketing, by Grant Leboff, which looks at building trust and engagement.

Finally, Andrew and Pete’s The Hippo Campus, which talks about standing out and getting noticed in a crowded market.

Links and contact details

If you enjoyed – Louise Harnby on self-publishing, marketing strategies and why branding matters – please leave a comment or a review on iTunes.

And if you know anyone who would enjoy the show – please share it with them. You can use the buttons below to share on social media.

Don’t miss an episode of the MAF Podcast – subscribe now.

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