AMP launches insurance tele-interviewing
AMP has launched a tele-interviewing tool for its advisers as the first step in what will be a "substantial" new range of tools, technology and processes for its AMP and AXA adviser networks.
Thursday, October 6th 2011, 1:30PM 
12 Comments
AMP marketing and distribution general manager Blair Vernon said the tele-interviewing tool, called Easy Write, was reasonably common in other markets but is new to New Zealand.
He said the tool was developed in reaction to the growing complexity of medical information required for clients' personal statements, and aimed to free up advisers' time and provide clients with greater certainty around their cover.
Vernon said it also has the benefit, in the new regulatory regime, of providing more certainty to the adviser.
Vernon said the way the system works is an adviser talks to the client about their insurance needs, ascertains their financial planning goals - including risk cover- examines and presents options which they agree on.
"But when it gets to the actual component of the personal statement they facilitate an appointment with one of the tele-underwriters who then calls the client at a time pre-determined by them. We then have a specialist underwriter who completes that statement with them on the phone."
Vernon said clients often feel uncomfortable sharing intimate medical information with an adviser, and also that an adviser may not have sufficient medical understanding to ask further, relevant questions.
He said the process had proved popular so far with AMP advisers.
"Far from replacing them it's actually freeing up their time. Many of our advisers say this is fantastic because I can see more clients now."
He said many advisers had been increasingly concerned about the time it took to complete personal statements and the increasing complexity around medical issues.
"Many of our advisers, they've said that's great that I don't have to be involved in that piece [of the process]. I don't personally add value to understanding their medical history, therefore I'd rather have someone else do that."
AMP is using staff in Australia to conduct the tele-interviews as the system was already in use there, and they can take advantage of the time difference to call New Zealand clients in the evening.
Vernon said the tool was piloted on a small group of AMP advisers before being rolled out across the whole network, and that it will soon be deployed across the AXA network.
"We're just taking it in phases to manage the deployment and make sure that we are able to take on board the feedback from advisers and clients to make sure we develop in concert with them."
He said Easy Write was the start of "substantial range of tools and technology processes that we're rolling out across both AMP and ultimately the AXA adviser network," which will, "improve tools and process systems for both advisers and clients."
"The essential goal is to save time for the adviser but also to get more certainty for the client. . . the resounding feedback I had from the advisers I worked personally with on that was it takes away the concern about disclosure risks."
| « When the adviser is the insurance | Life cover simplified – you’re either alive or dead » |
Special Offers
Comments from our readers
This from the oldest average aged adviser force seeing an average of 3 clients each a week?
Weekday golf anyone? The same company that has already tried and failed at direct marketing – remember ERGO?
In the 170 odd years AMP has offered insurance have they ever required, expected or even assumed their agents have any medical knowledge? The whole point of being an adviser is to help the client figure out what they need, then help them get it. No way would I ever trust someone else at that critical part of the process - step 5 - implementation. If it all goes pear-shaped due to a non-disclosure it won’t be the Australian tele-operator (who would have left the company by then) on the hook!
If you can’t build relationships with customers and if any of the six steps are too hard, then you are in the wrong job.
If all companies do this then there will never be another case of non disclosure involving an adviser. The client will not be able to say "but I told my adviser about that condition".
Think about it!
Do we honestly believe underwriters will get the best answers from clients over the phone - see their face when the hesitate.
Imagine and u/w just going through the same old process day in/day out - they'll pick up on less than advisers and there will be more non-disclosure.
I also believe that if any of the six steps are too hard you might be in the wrong job. However, if this process goes hand in hand with legislative changes requiring the companies to ask better questions (already under way?), then this could be a real butt-saver for some of the more ordinary/lax advisers out there.
Commenting is closed
|
|
Printable version |
|
Email to a friend |
