Same and Different, or equally unequal?
People often misunderstand the quote above as meaning that people should be treated unfairly, but it actually means treating people fairly. Look at the Cambridge Dictionary definition of Equal: “someone or something that has the same importance as someone or something else and deserves the same treatment”
The question then is whether a client who spends more money should pay less than someone who spends less, or whether a client who is more profitable should receive more personalised service. However, the answer is not always straight forward. Be sure to give CIB’s Carl Radley’s article on High Net Worth Insurance a read. He makes a good point when saying that the insurance industry has had to adapt to provide more affluent clients with adequate and suitable cover needed to match their lifestyle.
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