Eircode: The Benefits to the Irish Consumer
It’s estimated that more than 35% of Irish properties share their address with at least one other property, primarily in rural areas. Eircode was specifically designed to overcome the problem of non-unique addresses. In a nutshell, we now know where our customers are located and as you can imagine, for a business like ours, that helps make a difference. Eircode will deliver benefits such as:
Streamlined Customer Experience
At Allianz we have changed our systems to record Eircode information. Instead of having to enter your full address details, you are now able to enter your Eircode and validate your location. It’s as simple as that!
With Eircode, companies like Allianz can spend less time validating address information. An Eircode allows us to determine exactly where a property is located. We can then quote a price and confirm the level of available cover straight away, meaning shorter customer journeys and a better experience all round.
Accurate Insurance Pricing
Where you live is a key determining factor of how we price many types of insurance. The risk of certain losses occurring (e.g. flood, theft) differs from area to area. As people start to use their Eircodes more and more insurers like Allianz can be confident that our pricing is more accurate and reflects the level of risk associated with a particular area.
New Products and Services
Eircode will help us improve our communication with existing policyholders and potential new ones. For example; during the storms this year and last year our claims team were able to identify customers located in areas we knew had been badly affected by flooding or storm damage. Once we knew this, we were able to contact those customers to see if they were impacted and how we could help them.
Better Understanding of Customers
At Allianz Ireland we want the best for our customers, and to provide them with insurance which suits their needs. Using Eircode provides us with a complete view of the policies that a customer has with us. This will support our efforts to enhance the service we offer to our customers, such as new or improved products and services.
About the author:Underwriting - Personal Lines
Date:November 09th, 2018