Provider systems must support clients post sale - advisers

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Insurers must continue using their online systems in to post sales care to support advisers and their client relationships, an industry working group has demanded.

The F&TRC Protection Forum, which is made up of protection advisers, insurers and reinsurers, called for providers to allow client servicing from inception to expiry of any policy.

It argued that with the growing importance of IFAs to support clients' ongoing needs, the current online business submission systems should continue beyond the policy start date.

Advisers present at the discussion felt it was important to be able to have a continued dialogue with customers around their protection needs.

They are looking for providers to enable additional functions including annual cover statements, policy summaries, policy documents, change of address notifications, trust details, taking guaranteed insurability options (GIOs) and amending a client's existing cover.

Members felt this would be a valuable approach to demonstrate ongoing value that advisers can deliver to their protection clients.

Alan Lakey, principal of Highclere Financial Services, said: "The ongoing client servicing commitment is often a two sided process when it should really encompass the product provider as well.

"If providers were able to construct a facility for advisers to fully service their clients changing circumstances with one or two clicks then it would not only add to the client service in terms of quality and speed but also make life far simpler for advisers."

Ian McKenna, managing director of F&TRC, added that the group recognised the need to focus around the entire life of a protection policy beyond the new business process.

"Such systems could improve the service offered to clients by their IFA as well as improving policy retention rates and could even lead to additional new business."

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