Joe McBurney is president of Obvi Inc., which provides simple, clearly-written and easy-to-understand extended automotive warranty and gap insurance.
Calgary’s Business: What is Obvi?
McBurney: Obvi is an innovative company that is rebuilding, reimagining and reinventing insurance products to the benefit of the customer by leveraging technology. Having focused on the customer first, Obvi delivers a level of transparency that delivers a big win for the customer.
CB: Can you explain the new online platform you’ve launched?
McBurney: We have launched a quick and easy online quote and purchase, with instant policy delivery to improve the overall customer experience. The warranty and gap product offering has redefined the industry standard, along with pricing that makes sense.
CB: Why was it introduced?
McBurney: Customers deserved better. The current process was riddled with complexity, had a cost structure that presented little value and left customers confused and frustrated.
CB: Why is it beneficial for consumers?
McBurney: Not only can you benefit from the simple and transparent design of our insurance product, you save time and money while realizing greater value. We have also removed the barrier between sales and claims, where you establish a relationship with the same company who sells the policy and will look after the claim.
CB: Why has the insurance industry taken so long to move to an online presence?
McBurney: Change always is faced with resistance and the insurance industry is no exception. Canadians haven’t been educated to look online yet by the industry. It was the banks themselves that promoted the online services and continue to do so and we are just now starting to see companies like Obvi embrace technology and the benefits insurance customers realize. In addition to technology, insurance companies have developed specialty comprehensive products that are well suited for the online market.
– Mario Toneguzzi
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