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The old ball and chain

Karl Nordlin
18 mars 2019
Karl Nordlin

I recently signed up for a gym membership. The gym I go to offers monthly plans to which you sign up for an entire year. Well into the new year, I find myself scrutinising some of the well-meant resolutions I’ve made. Getting fit is certainly a good idea, but as of March my promising enthusiasm has started to wane. While a gym card certainly represents a pledge for better health, it can also end up being nothing but a drain on your wallet.

Guilt could surely serve as a motivator in many cases, and my buyer’s remorse might help me drag myself to the gym once in a while, but remorse won’t help me reach my long-term goals.

If you think about it, it’s a strange, counter-intuitive way of doing business. You voluntarily pay for a service and are then obliged to stay as a costumer. Shouldn’t the service itself be the reason for you staying rather than the fine print on the last page? Could you imagine being in a relationship with someone and not being able to break up until end of January?

"Could you imagine being in a relationship with someone and not being able to break up until end of January?"

Gyms earn more money the less you use their service. It turns out that the old business model of the traditional insurance companies works the same way. The less you actually use the insurance you pay for, the more the company gains. For any business providing little real value to customers, locking them up in long contracts makes perfectly sense.

Hedvig decided to go for a different approach. We decided to focus on creating the best possible insurance to keep our members happy instead of relying on complicated contracts to make it difficult to leave.


Sadly, we are the only insurance company in Sweden that offers insurance you can cancel at any time. This “free to leave, free to stay-approach” helps us build trust in a transparent way by showing the confidence we have in our product. And the confidence is paying off. We have Sweden’s happiest members according to Trustpilot. This leads to a low churn ratio. Less than 1% of our members leave each month. If we can’t keep you here by giving you the nicest possible service then we don’t deserve your business. Ironically – the vast majority leave because they are moving in with someone currently locked up in an old contract.

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