Enhancing annual reviews show clients how their coverage compares to common goals and typical cover amounts purchased. It allows you to provide meaningful and engaging information in annual reviews without lots of manual work.
Through the creation of review letters that focus on your clients, and the convergence of their insurance plan to the ideal, and the production of an auditable trail of advice service provision to the client we can ensure that your adviser business is compliant.
The review process can be operated manually or automated to provide a low-cost method of extending advice to every client at review while reserving the full cost of face-to-face meetings for those with the most complex requirements.
Meaningful reviews depend on creating a connection between the annual review, to the advice process, and most critically, to the client goals
- Do you have a clear vision of the client goal to which you can link the annual review data?
- Do you have a basis for comparing the client insurance package with the ideal for that client, at the time of the review?
- Do you know what action you want the client to take if you show them the difference between their current situation and the ideal?
Connecting these answers to a compelling 'next right action' and tracking the data that arises from each step of the process can be rewarding - in increased engagement, sales, and compliance.
An ambitious adviser business seeking
to create more opportunities from reviews, while at the same time, getting better evidence of review process completion, and engagement by customers.
Using this service ensures that your business remains compliant to set industry standards. The regulatory changes set to occur within the insurance industry means that adviser businesses must adapt their processes. Having current processes reviewed means that you do not have to alter your business processes completely. Having your updated processes reviewed makes certain that your business does not face penalties.
When an Annual Review Is Necessary
- Updating advice processes
- Reviewing business strategy
- Independent assessment of practices and performance