Moving from a commission structure for financial advisers to a user-pays model “…could significantly reduce access to insurance advice for customers”, says an independent report on New Zealand’s life insurance sector.
Authors of the Deloitte report also say changing the way advisers are remunerated has the potential to further exacerbate the underinsurance issue in new Zealand.
Financial advisers working with Partners Life should encourage their clients to take part in the insurer’s customer care surveys, says the firm. The survey is part of the company’s Customer Outcomes Matrix and has been designed to help support the company and advisers if a complaint is made, as well as award points to advisers.
Asteron Life’s disability insurance customers now have access to the Best Doctors service at no extra cost. The service provides the company’s policyholders and their immediate family with access to psychologists and psychiatrists in addition to online consultations with GPs.
If your goal is to foster client relationships and enhance the life-time value of your clients, Canadian Michael Morrow, a recognised expert in fostering client loyalty, has a few ideas. He sends care packages and personalised gifts to clients. When it comes to client care and relations he says “You can’t play small with your decisions and big with your income”.