|        About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds

NZ's Financial Adviser News Centre

GR Logo
Last Article Uploaded: Saturday, July 13th, 10:20AM


Latest Headlines

Fidelity opens up on turnaround times

Fidelity Life has started publishing its turnaround times with advisers each month to demonstrate its commitment to getting “back in the game.”

Thursday, November 9th 2023, 10:16AM

by Jenny Ruth

“We believe that sharing our turnaround times will enable us to be transparent, accountable and dedicated to continuously improving our service to you, our advisers. At the beginning of each month, we will post turnaround times for the previous month,” Fidelity says on the web page dedicated to providing this data.

The first month's data showed that in October it took a day to lodge an electronic application for new business and 1.5 days to lodge a paper-based application, medical requests took 5.7 days from request to receipt and it took 1.2 days from request to issuing an in-force policy.

Increases on existing policies were taking 2.5 days and average call wait times for new business calls were answered in 22 seconds.

Live chat provided answers within 30 seconds on both new business and underwriting questions.

In September, the life insurance company admitted that it had dropped the ball, and acknowledged adviser complaints about Fidelity’s products being uncompetitive, its poor service levels and its lack of digital tools.

The company's chief sales and service officer, Bronwyn Kirwan, says Fidelity has made “a clear commitment” to advisers.

“We've already taken signiciant steps to fulfil this promise and delivered on several initiatives such as live chat, our dedicated adviser service team and signature forms, streamlining processes and enhancing service accessibility,” Kirwan says.

“Publishing our turnaround times shows accountability by being transparent and gives advisers and customers more clarity around our processing times,” she says.

The website shows the wait time for those calling the call centre was 21 seconds in October and only 1% of calls were abandoned.

Email responses took 2.5 days on average on questions including general policy information, address changes, payment detail changes and copies of renewal letters.

Kiwan says Fidelity is proud of some of these numbers, particularly that calls were being answered within just over 20 seconds on average, but that the company recognises other areas need improvement.

“That's why we're sharing our comprehensive service metrics and will be providing monthly updates so we can hold ourselves to account and look for opportunities to continuously improve.”

Tags: Fidelity Life

« [Opinion] Why did Southern Cross cancel an interview with its CEO?Health insurance premiums rose 8% in the June quarter: FSC »

Special Offers

Comments from our readers

No comments yet

Sign In to add your comment



Printable version  


Email to a friend
Insurance Briefs

Why nothing else?
We wanted to dedicate this email solely to Graeme Lindsay; That's why there are no other stories.  A full newsletter will follow.

PIC Insurance Brokers partners with RE/MAX New Zealand
PIC Insurance Brokers has entered into a new strategic partnership with real estate company RE/MAX New Zealand as the exclusive insurance broker.

New customers get 3-months' premium-free on Fidelity Life
Fidelity Life has announced a special offer to cover new customers’ premiums for the first 3-months of their policies.

Premium relief for customers in drought areas
Fidelity Life offers premium relief to drought-affected customers

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