Tag Archives: Internet

Brokers warned to invest more heavily in cyber security

Image of cyber securityBrokers have come a long way over the past twenty years, especially when it comes to technology. These days very few insurance brokers work exclusively offline, as going online opens up your business and provides a wider market share.

However, as we all know there are certain dangers associated with working online. You just have to look at recent news stories to see that even the biggest names in the industry aren’t properly protecting themselves from cyber-attacks, which is why all brokers need to start taking the issue more seriously.

Over the past two years there has been a huge increase in cyber-attacks which have raised a number of concerns over the effectiveness of security tools used by businesses in the UK. Unfortunately, even though businesses are spending billions of pounds to strengthen their online security, attackers are still managing to find a way through these blocks.

Discussing the issue, Tom Reagan, a cyber insurance executive with Marsh & McLennan, said: “Some companies are struggling to find the money to buy the coverage they want.” He went on to add that it’s becoming even easier for hackers to buy personal information online: “Criminals are now able to purchase the data for around $1 a line which is $4 less than just under a year ago. The lines of data contain full names, addresses, date of birth, social security number and more.”

Meanwhile, Ron Green, MasterCard’s chief information security offices, said: “Security and product development are not mutually exclusive. We don’t look at security as being a solo responsibility. Our executive team has the expectation that we build security into everything we do as a standard practice. [Security] is table stakes for customers now, and you’re expected to deliver.”

Even though all businesses need to take the threat of cyber-attacks seriously, insurance providers in particular are required to take extra care as they hold sensitive, personal data about their customers including addresses, bank details and more. Furthermore, by law insurance companies must take appropriate steps to protect this data – even more so now that number of cyber attacks are on the rise. The Information Commissioners Office also has the power to issue fines to anyone who doesn’t comply with the required safety measures.

As a motorhome insurance broker you may feel that the data you store is not as sensitive as that of say, a broker that specialises in life insurance. However, the truth is that these days even a small amount of information can be used by cyber criminals to access bank accounts and/or commit identity fraud.

In order to protect your customers’ data it’s important that you keep up with news concerning cybercrime and how new or advanced malware could potentially harm your business. As a broker, one of the last things you need is your customers’ data being leaked, which is why it benefits both you and your customers to stay safe online. It is also essential that any business processing card transitions must be PCI compliant so that any payment card data is protected by the PCI Security Standards.

To that end, it may be wise for motorhome brokers to remind their customers on how to stay safe online. For example, you could ask them to call you if they see anything suspect or out of the ordinary on your website as well as not enter any personal details if unsure. Not only will this prevent hackers from stealing your customers’ information, it can also build trust with your customers and secure your reputation as a broker who takes security seriously.

One thing that all brokers should also keep in mind is that even if they run a small business selling niche products such as motorhome insurance, if your website is hacked and your customers’ details are stolen you could be held liable. This is why so many companies, especially those that hold extremely sensitive data, are now investing in public liability cover that includes cyber insurance.

In the future even more brokers will be moving online, which is why you should start thinking about keeping your customers’ and your business safe today. Remember, it’s always better to be safe than sorry and your customers will ultimately hold you responsible should you lose their personal information.

<span style=”font-size: xx-small;”><a href=”https://pixabay.com/en/security-protection-anti-virus-265130/” target=”_blank” rel=”nofollow”>Photo</a> by Pixabay</span>

Classified Ads Could Come Back

The internet has revolutionised the way people sell motorhomes, and auction websites along with specific trading websites have been the dominant way to sell a second hand motorhome for sometime. For a lot of people, though, there is a lot of risk involved with selling your motorhome online, and many motorhome owners are still choosing to stick with the old fashioned classified ad in the newspaper.

It’s true that classified adverts tend to attract serious rather than speculative interest. An online buyer would be able to ask questions of the seller regardless of whether he had any genuine interest in buying the vehicle. A lot of motorhome enthusiasts will ask questions about specific mechanical parts to help their own projects, and this can be a nuisance to the serious seller.

On top of this, it’s considerably easier to sort of the sale itself in person. Details of registration numbers, tax details and motorhome insurance transfers can all be done there and then, rather than through an often frustrating chain of emails. A lot of people simply prefer doing business in person than online.

Another major contributor is that people are spending more and more hours of the day at their computers. We’re working longer hours and, when you get home from the office, you don’t necessarily want to be using your computer to enjoy your free time. It’s much better for the eyes to flick through a magazine or newspaper than to scroll through pages and pages of motorhome adverts online.

We certainly won’t see a stop to the number of motorhomes that are being sold online, but old ways of doing the job are still hanging on in there. The technological revolution could well be settling down for a lot of motorhome owners, and those who prefer to do things offline are doing it there way.

More mobile home owners spend time searching for insurance deals

Despite evidence that suggests car owners are likely to stick with their current insurance company, it seems mobile home owners are shopping around for the best motorhome insurance quote at least 6 weeks before their existing policy is due to expire.

Researchers questioned 10,000 vehicle owners to find out how they set about purchasing their insurance each year and the poll suggested that 61% will now compare different deals before making a commitment. The statistics show that consumers are becoming more at ease with the internet and happier to chase after that elusive great deal, as just four years ago only 36% of motorists used the net. However, a lot of people are still staying loyal to their current provider, as a mere 22% end up switching to a diff company once they have weighed up their options. This is up from 15% in 2008 which is a modest rise. The research also showed 38% of motorhome owners prefer to use the telephone to buy their insurance, but there are also clear signs that more people are starting to pay for their cover online. Indeed, the number of people using the internet to buy their next insurance has more than doubled in the last two years with a noticeable increase in the number of ‘silver surfers’ getting to grips with technology and using desktops, laptops and tablets to buy insurance.

Industry experts feel there is now far greater competition in the insurance market and they suggest employing an insurance broker to find a competitive motorhome insurance policy that will tick all the boxes and one that will not leave the policy holder out of pocket should they need to make a claim. With greater accessibility of information available online, consumers are now better placed than ever to make informed decisions regarding their insurance options. In a market where more drivers are shopping around and is increasingly price driven, it is vital that firms understand customer needs and satisfying them better than their competitors.

Motorhome exchanges are growing in popularity

House swapping has become a popular way of taking a cost-effective holiday in last 10 years, and the trend is now extending to mobile homes. Plenty of motorhome owners are now arranging swaps that allow them to travel to a different part of the world and have use of a motorhome without need to rent, and motorhome insurance providers are now being asked in increasing numbers to provide policies that cover such circumstances.

The internet is by far the best way to arrange an exchange and there are plenty of websites and forums that offer advice on the formalities necessary. Lots of motorhome exchanges are taking place over very long distances and there are a large number of exchanges taking place between UK and Australian owners. The concept of exchanging is a fast growing market with some online companies dealing with 2,000 motorhome exchanges in the last 12 months. This figure is up 3.5% on 2011. The truth is that holidays are expensive, and so if mobile home owners can save a large part of the cost of the holiday by taking part in an exchange, there is no reason for them not to do it. By exchanging motorhomes, owners save money on transport and accommodation in one fell swoop. It’s a great way to see a different part of the world without it costing a fortune and the thousands of happy customers prove the scheme is working.

The arrival of a huge network of cheap flight operators has opened up Europe and to some extent the world to millions of people. They are able to holiday in places which 10 years ago they were only able to dream about. With a motorhome holiday swap people can now have the savings, convenience, comfort and flexibility that they have enjoyed in their own mobile home for many years, only this time on trips many thousands of miles from home. Research has shown that by exchanging motorhomes, a saving of between 36%-47% can be made on a 2 week holiday. Of course travelling overseas and using somebody else’s motorhome will require insurance. The exchange will not be able to take place without motorhome insurance being in place and most providers will allow the exchange partners to be added as named drivers. Exchanging is not 100% risk free, however, so make sure that the motorhome and contents are properly insured. Exchanging is a great way to see to the world and make that trip of a lifetime truly affordable. An exchange can be a very exciting way of touring and it’s not just for the free spirited, many people are choosing to save money on rental costs and prefer just to swap.

Motorhome Owners do Research online Before Deciding to Buy

Research has shown that the internet is playing an increasing role in influencing the decision of the United Kingdom’s growing number of motorhome buyers. The survey revealed that 76% have conducted research online before approaching the dealer. More than half (52%) of those who did online research said that the huge amount of information available on the internet prompted them to change the choice of motorhome brand. The study has shed light on how the internet can influence the decisions of buyers in the United Kingdom, and how relaxed older members of the community have become in using online websites to help them make an informed choice.

Respondents reported that they used the internet to both research and compare the price, watch online videos from owners who have the same motorhome, find images and read expert and user reviews. Of the 76% of respondents who went online, 58% said they used a search engine as the first source of information. On average, motorhome buyers spend 9-12 weeks conducting research before making a final decision. Buyers rated the internet much more important than television or printed media for motorhome related content, thanks to fast, easy access to necessary information. Buyers also choose to watch videos online as part of their research, with 59% rating YouTube as an excellent source of information. The research was based on answers supplied by 3,000 respondents of which 61% were male and around 68% were aged over forty.

The research also showed that the internet is playing a big part when it comes to motorhome insurance with 62% saying one of the best and easiest ways to do this is to use an insurance broker. Those questioned said they liked the idea of supplying their needs and then letting an agent go through the minutiae of data that would give them the best policy to suit their needs.