Insurers could do better

One in five advisers rated the service provided by life and pension providers as "unacceptable" or "totally unacceptable", a survey by intermediary network Sesame has shown.

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While the latest Sesame provider service index revealed more companies had improved their adviser satisfaction scores since the last index was conducted in June, there was still a lot of scope for improvement across the sector.

Overall Sesame found there was a net increase in adviser satisfaction, with more companies improving their scores than not in the latest index.

Just Retirement retained the top spot for the third consecutive index, which is conducted every six months, while Legal & General moved up one place to second position.

Standard Life rose two places to third, Skandia dropped from second place in the table to fourth and Norwich Union moved into fifth position from eighth.

Advisers also stated the current level of service offered by the provider sector as a whole had largely been maintained and 36 per cent of Sesame's members rated service as "good" or "excellent" compared with 37 per cent the last time the index was conducted.

Stephen Young, sales and marketing director of Sesame, said the provider service index gave the network valuable insight enabling it to work constructively with life and pension providers in order to drive up service standards for its members.

He said: "Our latest research into product provider service demonstrates progress is being made, but we need to be mindful of changing trends, such as industry consolidation, which could potentially damage service levels for advisers and their clients in the future."

Mr Young said product providers had reacted positively to the analysis and the network was beginning to see the benefits of the work filter through to the front line.

He said: "While the results will be disappointing for some providers, we have been pleased to see significant investments being made that we hope will translate into future service improvements.

"Likewise, new innovations such as dedicated service teams are enhancing the service experience for Sesame members.

"Provider service remains one of the key challenges for advisers on a day-to-day basis, which is why it is in our profession's interest to ensure it remains high on the industry's agenda."

Matt Morris, senior policy adviser and head of media relations for protection intermediary Lifesearch, said any feedback given to providers by the larger intermediaries and networks was crucial.

He said: "They cannot improve in the way they should and improve in the way we want them to improve without valuable feedback."

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