We are always striving to be the very best provider of key man insurance. We believe we are not only winning it, but we are coming up to lap our opponents. These are the main areas we look to always improve, they are not in order of importance:
- Quality of Advice
- Transparency and ensuring the client understand the advice given clearly
- Most competitively priced in the UK
- Best customer support/service
- Best after sales care
- Best website and usability
1. Quality of Advice
Being regulated by the FCA means we have to continually update our knowledge bank and training profile. It comes under the FCA rules towards “Treating Customers Fairly” (TCF from now on). TCF is aimed at ensuring the client is getting the best advice from an adviser who is upto date with the market and in touch with the latest products available. We have to demonstrate all training carried out and have a minimum requirement. We are constantly learning and evolving and regularly work with the providers to ensure the products are going in the right direction.
Lately we have been caked upon by Bright Grey to write articles about Key man insurance, we are also in regular cahoots with Pru Protect helping them evolve their product to suit the market. This we know is more involved than any other Keyman adviser in the UK and we believe makes us at leader on quality of advice for key man insurance.
2. Transparency and ensuring the client understand the advice given clearly
This point kind of goes hand in hand with the above. There can be a lot of red tape and confusion with policies. We ensure we give very clear and precise advise which cuts to the point and gives the client the advise and information they need with out over confusing it. Do not mistake this for cutting corners! We supply all documentation and letters backing up everything we advise, but also understand that clients need help trawling through the paperwork.
3. Most competitively priced in the UK
We are an appointed representative of Personal Touch Financial Services (PTFS from now on) . PTFS are one of the largest, if not the largest network of financial adviser in the UK. This gives them huge strength when negotiating rates. We have chosen to go down the route of whole of market advisers which means we do not received the heightened commission levels, but it does mean we have access to the best prices. So we have two starting points 1. PTFS large network and 2. Whole of Market that give us a great start in being the most competitively priced. We are quite flexible with the sacrifice of commission, and if we need to win business we have no limits or guidelines on how much we can sacrifice. Sacrificing commission basically reduces our commission, but reflects by reducing the clients premium. We constantly monitor our prices to ensure we are the cheapest for a like for like product.
4. Best customer support/service
Our phone lines forward on to our personal mobiles when we are not in the office. Our moto is, if it’s important enough for you to want to call us, its important enough for us to answer and help. Regardless of the question! We are always on hand and try to answer any problems in a very prompt time frame, often dealing with queries immediately. Leaving problems and queries to build up simply slow down our sales end and therefore its beneficial to us, and obviously the client, to deal with any problems straight away and move on.
5. Best after sales care
Once a client is signed up and the policy started, we schedule call backs with in the first month to ensure the client is happy with everything done for them. We also subscribe to the largest UK review website “TrustPilot”. This is a scheme that we have no control over and is dealt with on a direct basis between Trustpilot and the client. We ask for a rating from 1 – 5 and a brief comment on your experience. So far we are at 8.9 out of 10 and arte working hard to get this over 9. We have had no negative reviews and although we are not on 10 out of 10, the couple that were 8 out of 10 still spoke very highly of us and said they would recommend us. Why 8 out of 10 then, not sure, we asked the same thing. But as I say we have no control so we can only do our best.
6. Best website and usability
Our website seems to be constantly changing and upgrading. In the last 3 months we have added 6 new helpful calculators for our clients, plus we have added info graphics and a FAQ section. This is more than most of our competitors have done in the last 5 years, let alone the last 3 months. It was only 6 months ago our entire site was revamped to make it more user friendly and with the addition of the mobile version of the website. It helps that the owner of the company is a web site designer, but again means we are always leading the way and we know other websites follow our lead with their sites, keeping two steps ahead is always sour goal.
We will continue to grow and have many other improvements, but it would take another hour for me to list them all. hopefully the above gives a rough idea to what we are doing behind the scenes though. If you have any comments or feedback on any of the above then we are always happy to hear.