Six Rules of The Matrix

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Advisers selling Partners Life products are now being measured against six key indicators under the insurers’ Customer Outcomes Matrix.

The matrix system means the performance of each adviser will be compared against things such as customer complaints, service activity, and cancellation advice. Advisers will receive performance feedback every month as part of the firm’s changes to its commission bonus structure that will start in March 2021.

The company says the new system, which started on 1 April, will allow it to record key elements of the advice process to determine and measure customer outcomes.

The table below contains the six indicators and when and why they will be measured

The Customer Outcomes Matrix supplied by Partners Life.
The Customer Outcomes Matrix supplied by Partners Life.

As part of the data collection for the Initial Advice Process, Replacement Advice Process and Cancellation Advice components of the Customer Outcomes Matrix, Partners Life will be contacting its customers by phone or email starting this week.

This information, says the firm, will allow it to demonstrate an acknowledgement from customers that they have received key aspects of the advice process during either the initial application, replacement, or cancellation process.