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: Thursday, March 28th, 10:13PM

Insurance

rss
Latest Headlines

Asteron Life: One fifth of SMEs don’t know where to find an adviser

Asteron Insurance Index reveals many SMEs couldn’t find an adviser even if they wanted to.

Tuesday, September 15th 2020, 4:25PM

Research released by Asteron Life shows small and medium sized business owners (SMEs) who buy life insurance direct are open to using an adviser, but almost 20% say they don’t know how to find the right one.

The Asteron Life SME Insurance Index 2020 findings show cultivating referrals and strong word of mouth is the best path to attract new customers into the adviser-market, with half of respondents saying they would ask a friend, colleague or family member for a recommendation of an adviser.

Word of mouth referrals were even more powerful among those actively considering an adviser. 52% of this group would ask friends or family for a recommendation, compared to 44% of those who were uncertain about whether they would use an adviser.

“The research highlights the importance of a solid referral strategy as part of an adviser’s marketing plan,” says Graham Hill, Executive Manager Life Distribution at Asteron Life.

Hill says SMEs who currently buy direct are an untapped market, both in terms of getting advice and the breadth of the life insurance products they are buying.

Expertise is the main reason cited by direct buyers as to why they would consider using an adviser, with price, convenience and personal service also ranked highly.

“This illustrates that when communicating with potential clients, advisers should focus on the value of the expertise that they can deliver, and show how SMEs can feel confident that they have the right cover.”

Hill says a strong adviser-client relationship built on expertise and regular communication is arguably even more relevant to SME customers during difficult periods like Covid-19.

“We hope that the insights in this year’s SME Insurance Index help advisers better understand and meet the needs of this market segment.”

Tags: Asteron

« Cigna announces multi-benefit discount on new policiesAdviser complaints increase, IFSO says »

Special Offers

Comments from our readers

No comments yet

Sign In to add your comment

 

print

Printable version  

print

Email to a friend
About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox  |  Disclaimer
 
Site by Web Developer and eyelovedesign.com
x