What is the one factor which most often informs your selection of life insurance product solution for your client?
- Product features (37%)
- Product pricing (18%)
- New business process efficiencies (12%)
- Underwriting support (12%)
- BDM Support (9%)
- Claims Support (8%)
- Historical relationship with insurer (3%)
- Other factor(s) (1%)
Loading ...The results of our latest poll indicate that product features are overwhelmingly the most important factor for advisers when it comes to deciding which life insurance product forms the best fit for their clients.
As we go to press 43% of advisers indicated product features most often informed their selection in choosing a life insurance solution for their clients.
Product pricing was the next most important factor at 17%, followed by new business process efficiencies at 14% – meaning these three factors are most valued by a total of 74% of those taking part in our poll (see: Latest Poll: Product Selection).
Underwriting support stood at 11% followed by BDM Support (6%); Claims Support (6%); while an historical relationship with the insurer sat at just 3%.
We revisited this question we had put to you a year ago, given the array of life company initiatives we’ve been reporting in recent weeks and months.
And the results from June 2024 were similar with just over half (52%) of those who had taken part in that poll indicating that product features are the key consideration when formulating a recommendation to clients (see: Product Features Top Latest Poll).
Pricing sat at 15% in 2024 although, interestingly, underwriting support attracted 12% of votes in the 2024 poll while this year new business processes had jumped up the list of factors to 14% after garnering just 4% of the votes in 2024.
Our poll remains open for another week and we are keen to know your thoughts…