Risk advisers have indicated that product features and policy definitions are the most important factors for them when it comes to their choice of insurer in serving their clients’ best interests.
This is another key finding from Investments Trends’ 2021 Adviser Risk Report, which reveals that product features/policy definitions trumped premium stability, competitive premiums and claims acceptance rates as the most important factor for advisers from a client best interest perspective.
While product features/definitions came out as the top selection, premium stability and competitiveness followed closely behind, and remain as the most critical elements as we reported last week, when it comes to issues around policy retention and selection of preferred insurers (see also: Pricing, Premium Stability Top List of Concerns…).
