The future of income protection and life insurance is that it’s going to be more accessible, flexible and with an increased online presence if the results of the recent Advisor Choice Risk Awards are anything to go by.
At the awards the top insurance companies were rewarded for their efforts in providing excellent service. Many of the companies mentioned shared similar visions of the future of the insurance industry, with three main features that stood out among the rest.
The top insurance companies all agreed that increased accessibility of products and services is a top priority and important for attracting and maintaining customers. There is a definite trend towards online access and technology, particularly online marketing and maintaining a strong web presence, allowing customers to access their insurance information at any time.
Flexibility within insurance products was another strong feature in the award finalists, with many insurance companies now offering a range of different options within a single insurance plan to better meet customer’s individual needs. Also, increased web presence means more flexibility when it comes to processing claims and updating policy information.
Improved customer focus
Insurance customers look set to benefit from an increased focus on customer service in the future. Insurance companies are making an effort to listen to their customers and find ways to better meet their needs through more flexible plans and more accessibility to insurance advice and information.
If income protection or life insurance is an integral part of your long term financial plan, you may well notice some major improvements to the quality of products and services offered in the future.