{"id":36353,"date":"2017-03-14T21:57:14","date_gmt":"2017-03-14T10:57:14","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=36353"},"modified":"2025-09-02T11:34:01","modified_gmt":"2025-09-02T01:34:01","slug":"policyholders-give-high-rating-to-advice-and-insurance","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2017\/03\/14\/policyholders-give-high-rating-to-advice-and-insurance\/","title":{"rendered":"Policyholders and Claimants Give High Rating to Insurance Advice"},"content":{"rendered":"

Around 75% of life insurance policy holders are satisfied with their adviser and their life insurer, according to new research, contradicting a recent consumer survey<\/a> which ranked advisers lowest for satisfaction when purchasing insurance.<\/p>\n

\"Beddoes<\/a>
Beddoes Institute, Founder, Dr Rebecca Sheils<\/figcaption><\/figure>\n

The new research, conducted as part of wider policy holder and claimant studies, found that non-aligned financial advisers were rated highly by new policy holders with an overall rating of 78.2% and life insurers were rated at 73.6%.<\/p>\n

The Beddoes Institute research did find, however, that policyholder satisfaction dropped off after two years with insurers given overall satisfaction rating of 60.6% and advisers given an overall satisfaction score of 56.8%.<\/p>\n

Beddoes Institute Director, Dr Rebecca Sheils<\/strong> said the decline in satisfaction levels was the result of consumers equating lower levels of contact with less value as they have come to expect more frequent interaction from service providers in other walks of life.<\/p>\n

“…it is not surprising that a relative lack of communication by insurance companies…is perceived negatively by policyholders…”<\/h6>\n

\u201cThis research shows that whenever a Life Company or an adviser interacts with their customers across multiple touch-points and channels, customers rate them higher than when there is minimal or no contact,\u201d Sheils said.<\/p>\n

\u201cIn this digital age consumers expect ongoing and constant interaction with the product and service providers they engage with.\u00a0 They increasingly experience this from banks, publishers and such companies as eBay, Facebook, and Amazon.\u00a0 With consumers\u2019 expectations of constant interaction set high, it is not surprising that a relative lack of communication by insurance companies during the later years of a policy is perceived negatively by policyholders,\u201d Sheils said.<\/p>\n

The research also contradicted other reports that found\u00a0dissatisfaction with claims, according to Sheils, with surveyed claimants rating their interaction with insurers and advisers highly, despite initial reservations by policyholders who expected the claims process would be difficult.<\/p>\n

\u201cIn contrast, the actual experience of recent claimants is significantly better than policyholders expect, despite the negative stories communicated in main stream media. Claimants with an approved claim rated their insurer highly with a rating of 79.3% and this exceeded the rating of 66.0% given by policyholders prior to going through the claims process\u201d, Sheils said.<\/p>\n

\u201cThese findings add to the evidence that insurers are working hard to respond to the needs of consumers in an increasingly difficult environment.\u201d<\/p>\n

Further details about the research are available\u00a0in the March RiskInfo eMagazine<\/a>\u00a0in the article:\u00a0Filling the Gaps in Consumer Satisfaction<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Around 75% of life insurance policy holders are satisfied with their adviser and their life insurer, according to new research, contradicting a recent consumer survey which ranked advisers lowest for satisfaction when purchasing insurance.<\/p>\n","protected":false},"author":3,"featured_media":36379,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8294,4],"tags":[4247],"class_list":{"0":"post-36353","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-claims","8":"category-products","9":"tag-feature"},"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/36353","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\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/comments?post=36353"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/36353\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media\/36379"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=36353"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=36353"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=36353"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}