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Sovereign claims top place in survey

Sovereign, has achieved the overall number one position for adviser satisfaction in the 14th annual WA Taylor Intermediary Study.

Tuesday, September 8th 2009, 10:10PM 6 Comments

Each year, the study invites advisers to evaluate New Zealand’s life insurers on a range of service and satisfaction criteria. Building upon the success of 2008, Sovereign was rated number one in 36 of the 43 categories recorded by WA Taylor, and second in all the remaining categories.

"These results represent a significant improvement over previous years and shows Sovereign extending its lead over its competition, with Sovereign’s overall satisfaction rating increasing to 83 while the second placed insurer remains on 79."

Sovereign’s acting chief executive Jon Raby says he is delighted with this year’s result, with Sovereign consolidating its position as the number one life insurance provider in New Zealand.

“Despite the challenging economic environment it is extremely encouraging to see that we continue to be ranked number one in the critical areas of underwriting speed and decisions, policy administration, product range, and call centre responsiveness.”

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Comments from our readers

On 9 September 2009 at 4:59 pm Stephen said:
I wonder what % of those surveyed were contractually tied Sovnet advisers. With the big drop in Sov's new business share for the past year I would imagine the survey is flawed.
On 10 September 2009 at 3:20 pm daniel said:
Would hardly be a survey if only sov advisers surveyed. For example, I only deal with Sov and wasn't surveyed at all.
On 10 September 2009 at 10:04 pm annoyed said:
Sovereign ranked number one in the critical areas of underwriting speed. Wow do they issue policies with poor or no underwriting then make them void at claim time? It seems that Pinnacles Blog tells a story that all us need to know. When will this become public knowledge about the Wayne Croft saga? Do Sovereign have a case to answer?
On 11 September 2009 at 9:21 am Emily Masters said:
This is only satisfaction on the basis of advisers. I reckon if they surveyed claimants they'd get an entirely different picture - an organisation that makes it difficult to claim and a complete lack of good faith, as well as being deliberately unco-operative in order to frustrate. In fact I bet a claimant survey would rank Sovereign the lowest performer.
On 18 September 2009 at 3:39 pm Ross Lindsay said:
My experience with Sovereign over the past 20-odd years is quite different to that which Emily portrays. In that time I've had nothing but outstanding service and good outcomes at claim time. Perhaps it's something to do with the way in which the Personal Statement is completed!?
On 21 September 2009 at 4:52 pm Darcy Sollitt said:
I read all these comments and you all have good view points.

One question for Ross and that is Whose responsibility is it if a Personal Statement was completed by you and submitted to Sovereign BUT you had not completed the proposal properly AND Sovereigns Prudent Underwriter missed that, the proposal was accepted by Sovereign THEN Sovereign VOID the policy because of that question being missed when a claim is made?"
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