Insurance company Ellipse has added key service indicators to its offerings in an attempt to improve dealings with advisers and increase efficiency and productivity, Tim Creamer, chief operating officer, has announced.
The London-based insurer, which provides group life and disability cover, will set out a series of KSIs which will report their rolling 12-month performance to the end of each quarter, regardless of performance.
“By setting out these KSIs and publishing them regularly, we hope to demonstrate how important reliable service is. We know that by improving service standards in this way we can free advisers to focus on consulting rather than wasting time chasing insurers,” Mr Creamer said.
He said firm hoped to improve the service provided to advisers across the sector, thereby improving adviser productivity.
The KSI provided by Ellipse at the end of Q1 this year showed that 86 per cent of offline quotes were issued by or within three days of the adviser-agreed target date of which 63 per cent were issued by the adviser-agreed target date.
Mr Creamer has challenged other insurers to follow suit to help improve the service proposition.
Robert Harvey, protection expert at Brighton-based Drewberry Insurance, said: “Group insurance has not been the quickest to process in the past, so it is positive that Ellipse is attempting to improve that and be more transparent.
“It would be good if all insurers adopted that approach as the industry is notorious for being sluggish with turnaround time. The industry also needs need to make better use of technology, to improve speed and productivity and, ultimately, the consumer experience.”