{"id":30380,"date":"2015-07-28T15:20:17","date_gmt":"2015-07-28T05:20:17","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=30380"},"modified":"2015-08-05T07:18:44","modified_gmt":"2015-08-04T21:18:44","slug":"segment-based-on-needs-advisers-told","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2015\/07\/28\/segment-based-on-needs-advisers-told\/","title":{"rendered":"Segment Based on Needs, Advisers Told"},"content":{"rendered":"

Risk advisers need to become better at tailoring their services to meet specific client needs if they want to succeed in the future, new research has found.<\/span><\/p>\n

<\/p>\n

\"AIA's<\/a>
AIA’s Pina Sciarrione<\/figcaption><\/figure>\n

\u2018The Advice Challenge\u2019 white paper, produced by the Beddoes Institute on behalf of AIA Australia, sought to identify how advisers and insurers can deliver more value, by surveying current advice clients about what they valued most in their advice relationships.<\/p>\n

The study identified three primary categories of advice clients, based on their needs:<\/p>\n

    \n
  • Value seekers (representing just over half of all advice clients)<\/li>\n
  • Personalised advice seekers (27%)<\/li>\n
  • Purists (14%)<\/li>\n<\/ul>\n

    According to the white paper, each category is driven by different needs, and these should be the focus for advisers when building a service offering. The paper says that by segmenting clients according to their needs, rather than delivering a one-size-fits-all service, advisers will see their clients\u2019 loyalty increase. There are also efficiencies to be found in segmenting services, the paper notes.<\/p>\n

    Specifically, the research found that:<\/p>\n

      \n
    • Value seekers are driven by \u2018significant value for money\u2019. They want to know that the value of taking out insurance through an adviser outweighs the premiums or fees they pay, and that \u2018advised insurance\u2019 is better value than purchasing insurance through other channels. In addition, they want high quality communication to augment their perception of value.<\/li>\n
    • Personalised advice seekers want advice that is customised to their needs, circumstances, goals and objectives.<\/li>\n
    • Purists are looking for their adviser to help them develop a customised insurance plan, but in addition, they want ethical and independent advice and the assurance their adviser will manage an insurance claim should the need arise.<\/li>\n<\/ul>\n

      \u201cOverall, the results indicate that advisers appear to be managing all clients uniformly and not addressing the specific needs of each client segment. By taking this approach, advisers are expending resources to delivering services that are not as valued by clients and missing an opportunity to focus on what matters most,\u201d said AIA Australia Chief Retail Insurance Officer, Pina Sciarrone<\/strong>.<\/p>\n

      \u201cThe results of the research reveal that by effectively segmenting their clients, advisers may become more attuned to what each segment wants and provide a more valued service designed specifically to its needs. By meeting the stated need of each client segment, it\u2019s also likely that adviser-client loyalty will increase for all segments,\u201d she added.<\/p>\n","protected":false},"excerpt":{"rendered":"

      Risk advisers need to become better at tailoring their services to meet specific client needs if they want to succeed in the future, new research has found.<\/p>\n","protected":false},"author":7,"featured_media":30431,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[48,3],"tags":[],"class_list":["post-30380","post","type-post","status-publish","format-standard","has-post-thumbnail","category-company-news","category-general"],"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/30380","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/comments?post=30380"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/30380\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media\/30431"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=30380"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=30380"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=30380"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}