Protection service review 2021

by Ben Heffer
Insight Consultant (Wealth & Protection)

February 2021

With many providers offering similar products, service is now often one of the key differentiators for advisers. As part of Defaqto’s protection service satisfaction survey, advisers ranked ‘underwriting services’ and ‘claims handling and administration’ the most important aspect of service.

This independent publication provides financial advisers with insight to help them benchmark their own personal experiences of individual protection providers with those of their peers, enabling them to select partners based on service criteria.

As part of the survey, advisers were asked to rate the service they receive from protection providers in relation to ten categories: 

  1. Underwriting services
  2. New business processing
  3. Claims handling and administration
  4. Product design
  5. Online services
  6. Technical assistance
  7. Existing business administration
  8. Provider strength and brand
  9. Business development managers
  10. Commission and remuneration

With the exception of New business processingTechnical assistance and Existing business administration, weighted satisfaction has in general increased or remained at its 2019 level.


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