Sharing the stories of your life insurance advice successes, particularly in the claims area, is more important today than ever, especially in the lead-up to the release of the Quality of Advice Review in December – which makes our report on ClearView’s release of its booklet of customer reviews the Riskinfo Story of the Week…
ClearView has released a booklet of customer reviews intended to highlight the benefits of life insurance advice and urge the industry to share their success stories, in the lead up to Treasury’s Quality of Advice Review.
The insurer says in a statement that Claims at ClearView: What our customers say about us, which features testimonials from its customers, showcases the value that financial advisers add, particularly at claim time. It points to the latest data from APRA “… confirming that taking out cover through an adviser often results in more competitive features and benefits, higher sums insured, faster payment times and fewer disputes.”
Simon Swanson, ClearView Managing Director, says it’s up to the financial services community to educate consumers, policy makers and regulators about the value of professional advice and the difference it makes in peoples’ lives.
…The industry has historically struggled to clearly articulate the tangible value it adds, but it’s on full display during claim time…
“Educating the community about the value of life insurance is a core part of ClearView’s customer engagement strategy. The industry has historically struggled to clearly articulate the tangible value it adds, but it’s on full display during claim time,” he says.
Swanson adds that this looks like “…helping a client in desperate need complete and lodge a claim application, arrange doctors’ appointments, liaise with insurers and, ultimately, telling them that their claim has been accepted.”
Using the power of storytelling, nine ClearView customers share their experience getting life insurance and, ultimately, claiming on their policy, after suffering an unexpected accident, injury or illness.
Of the nine customers, seven have had a claim paid in the last 24 months including five in the past year.
ClearView notes that the booklet includes customer reviews from Suzanne, who lost her husband of 50 years, Laurence, to pancreatic cancer in 2021; Greg who has terminal cancer and been given roughly five years to live; and Stuart who was recently diagnosed with Lewy Body Disease.
It also includes stories from Melissa who suffered years of unhealthy workplace conditions, leading to anxiety and mental illness, and Jenna, who went for a routine pregnancy check-up only for doctors to detect a mass on her brain.
Swanson says life insurance advice and the impact of the Life Insurance Framework “…are key focus areas of the Quality of Advice Review, which creates a unique opportunity for life insurers and financial advisers to get their clients to advocate for them.”
“Customer reviews are extremely powerful and if we don’t talk about our successes then noone else will.”
The release of the booklet follows ClearView’s submission to the Quality of Advice Review, “…which petitioned for no further adverse changes to life insurance commission caps in order to provide much needed stability and confidence.”
Click here to download Claims at ClearView: What our customers say about us.