AIA Australia (AIA) has reported a successful implementation of its Upselling service initiative, leading to higher levels of insurance cover for clients.
Launched in July 2009, this service involves AIA underwriters pro-actively working with clients and advisers to increase levels of client cover.
AIA … has successfully increased cover levels for more than 50 clients
In the December issue of its new Underwriting Alert publication, AIA reports it has successfully increased cover levels for more than 50 clients during the first four months of the Upselling service.
The process involves:
- AIA underwriters assessing the maximum sum insured/monthly benefit for which a client is eligible without requiring further medical or financial evidence
- The underwriter then etablishes the extent of any gap betweeen that maximum insurable amount and the levelof cover being proposed
- The underwriter contacts the adviser to discuss the possible application of the revised, higher sum insured levels, based on AIA underwriting rules and guidelines
This initiative appears to add value for all participants:
- The insurer benefits by holding higher levels of cover, and by adding value to their relationship with advisers and their clients
- The adviser has facilitated a value-added service for their client and will grow the value if their business
- The client benefits by holding higher levels of cover that more appropriately reflect the value of the lifestyle they are seeking to protect
AIA reports that since launching its Upselling service, its underwriters are becoming more adept at recognising where the opportunities exist to implement higher cover levels without further medical or financial evidence.
