ARE ADD-ONS A SHOE-IN?

David Ross, a past president of the Insurance Institute of Leeds and MD of Valeos Ltd, brought his considerable experience of added value products as well as his new shoes to Coventry’s Lunchtime Talk. David started his talk with his recent experience of buying a rather smart pair of shoes. The shop assistant asked if he could interest him in a pair of shoe trees to keep the shoes in top condition. These were duly purchased quickly followed by cloth bags for each shoe and polish from the shoe manufacturer, ‘specially formulated’ to prolong the life and appearance of the leather, increasing the cost by 50%. David’s talk revealed how add-ons can provide valuable benefits and increased earnings for businesses, increase customer satisfaction and contribute to competitiveness through lower prices of core products. Insurance add-ons, most notably Payment Protection Insurance, have attracted publicity for all the wrong reasons and David’s talk covered both the opportunities and threats of promoting financial add-ons in a heavily regulated market.

Valeos Ltd Website:- http://www.valeos.co.uk/index.html