tmmonline.nz  |   landlords.co.nz        About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds

NZ's Financial Adviser News Centre

GR Logo
Last Article Uploaded: Tuesday, March 19th, 5:49PM

Insurance

rss
Latest Headlines

Software package annoys advisers

Sovereign is being forced to replace product software sent to advisers last month after complaints about computer foul-ups.

Wednesday, February 20th 2002, 8:47AM

A new version of the illustrations software, allowing advisers to prepare client quotes on laptops and office computers, will be sent out in early to mid-March, says Sovereign marketing manager, risk, Michael Hewes.

The move follows complaints from some advisers that the database software in the package takes considerable time to load and causes system crashes.

As soon as Sovereign found out about the hiccups it contacted advisers telling them they could revert to using an old version of the software.

"We’re now putting together new software that will solve the problems some advisers are experiencing," Hewes says.

However, the mistake has cost the insurer. As well as having to replace the software, it has paid for technicians to go into the field to help advisers.

At least one adviser has become so frustrated he has stopped selling Sovereign products altogether.

Sovereign has told advisers that they can prepare quotes using the old software that has lower premium prices.

Hewes says the problems are not widespread. About 75% of new business is being written using the new software and there has been no impact on sales.

Life offices send out computer software to make it easier for brokers to calculate premiums and prepare client quotes. Over the years the software has become more sophisticated, but some adviser say it is now outgrowing their hardware.

One life broker complained that insurers pay little attention to the end user’s computer systems when designing software.

He’d struck other difficulties with Sovereign packages, including problems printing out information from a database system sent out about three years ago.

Other life companies, including AMP last year, have had problems with their proprietary software.

« Tower launches new health contractsSX must raise premiums »

Special Offers

Commenting is closed

 

print

Printable version  

print

Email to a friend
Insurance Briefs

AIA adds cover for prophylactic surgery following cancer
AIA makes changes to policies and adds preventative surgery for several types of cancer.

Chubb appoints David Morrow as Country President for New Zealand
Chubb has appointed David Morrow as Country President for New Zealand.

nib adds specialist skills to its board
Two new board appointments at health insurer nib add new perspectives, chairman says.

nib gets new CFO
Alvin Soh has joined nib New Zealand as its chief financial officer. Heh is a chartered accountant with more than 20 years of commercial experience in leadership roles.

News Bites
Latest Comments
Subscribe Now

Cover Notes - Specific news aimed at risk advisers

Previous News
Most Commented On
About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox  |  Disclaimer
 
Site by Web Developer and eyelovedesign.com
x