The high life for five-star Partners and Fidelity
Partners Life and Fidelity Life were the only insurers to receive the highest available five-star rating in the Beaton Benchmarks survey, which rates adviser satisfaction with insurance companies.
Friday, August 17th 2012, 7:05AM 7 Comments
by Benn Bathgate
Fidelity Life chief executive Milton Jennings said the company rated number one among advisers' for claims, supplier reputation, BDM support, administration and were "a country mile" ahead when it came to IT services.
Jennings said the company performed well across the board and that the results affirmed their efforts over the last year to improve underwriting and claims handling.
"We know we're making an impact in the market," he said.
Partners Life marketing manager Sally Cousins said the company achieved the highest overall adviser satisfaction score at 84% and was considered by advisers' to be one of the top providers for risk products including term, TPD, trauma and income protection.
She said innovative products, competitive premiums and good communication with advisers' were also cited as reasons for the company's strong performance in the survey.
Partners Life managing director Naomi Ballantyne said the results were especially pleasing as they provided validation from advisers "that together we're doing the right thing."
"It's particularly pleasing to receive such high ratings on product quality areas," she said.
The 2012 survey also reflected the fact advisers' have adapted to the new regulatory environment.
In the 2011 survey insurance company support around regulation and legal matters was cited as the most important factor determining overall satisfaction, something Jenning's said was "right down the priority list" in the latest survey.
He said advisers rated supplier reputation as the most important factor, followed by BDM support, underwriting and products.
Benn Bathgate is a business reporter for ASSET and Good Returns, email story ideas to firstname.lastname@example.org
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