okers is service rather than product based. When a customer makes a purchase from MPI, they receive a certificate and an insurance card which are tangible products. These tangible products signify that an agreement has been made between the customer and provider: a promise to provide insurance as per the terms and conditions of the policy. The certificate and the cards are meaningless if they are not backed by service. MPI sells various types of cover which are divided into two main groups; company insurance and retail insurance (see appendix 2 for more information).

MPI is priced higher than its main competitors, however, it provides a superior level of cover so the value is higher. In addition to superior cover, MPI states that they offer “renowned personal service, extensive experience and quality insurance products providing a wide scope of cover” (MPI Brokers, 2019). MPI does have experience and expertise, especially in their specialized ski insurance. MPI’s personal service enhances the customer experience, however, customer service can be challenging in the insurance industry as demonstrated by the following quote:

“Insurance rarely comes to mind as an industry that provides a rewarding customer experience. The only time people find out whether their insurance company is actually any good is when they are at their most distressed and vulnerable.” (Reason, Løvlie and Polaine, 2013).

This poses a challenge to MPI; how to provide excellent customer service to all customers, including those who file claims. MPI achieves this by having a small, friendly team that is able to respond to customers queries in a timely manner and who are experts in their field. MPI works with its underwriter and assistance companies to ensure that customers have a satisfying experience when they purchase a policy.

Customers

Different types of cover are marketed and sold to different consumers (see appendix 3). Travel insurance is part of MPI’s ‘retail’ sales, meaning that it is sold to the general public. Company insurance is sold to other businesses such as ski chalets, resorts and travel companies who need to insure their overseas resort staff. This means that MPI operates in both B2B and B2C markets.

B2B Customers

B2B is segmented based on industry, region, and season. For instance, most B2B clients are travel, or resort companies in Europe who want to insure their UK staff who are travelling to work overseas. This is further segmented to companies who require insurance through winter months – usually staff for winter sports related activities – and t