Fidelity opens up on turnaround times

“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.