Insights to support your protection business
Accessing data and understanding what it means for your business can be time-consuming and challenging.
Our Business Development Managers can save you time by sharing insights on the quality of your protection business, so you can identify areas for review and evidence how you're meeting your clients' needs.
Business quality management insights
Our Business Development Managers can share insights on several key metrics, including:
- Client segmentation: by reviewing affluence and life stage, we can help you compare your client book against average benchmarks, so you can see which clients might be interested in certain protection covers
- Recent claims: this includes any paid or declined claims due to non-disclosure
- Late policy payments: this can show the risk of a policy being cancelled, and gives you the opportunity to contact clients to understand if their circumstances have changed
- Persistency: low persistency levels may indicate clients aren’t fully engaged with the advice they’ve received or product they’ve purchased
- Lapse rates: we can share overall lapse rates for your firm or split by adviser, so you can see where there's opportunity to improve your client outcomes
- Usage of Helping Hand: so you can understand the value of our Helping Hand benefit and how your clients are using it
- Straight-through processing rates: so you can understand the level of business that’s accepted without the need for underwriting
- Change rates for online confirmation of details: a low number of changes can help you to evidence the correct details are being asked for at the application stage
- Non take-up rates: if you recommend a product but the sale isn't completed, this can indicate that the product recommendation hasn't met your client's needs, or they haven't understood the benefit fully.
Other resources and support
Consumer Support outcome
Understand what you need to do to meet requirements of the fourth Consumer Duty outcome, and learn how we can help you and your clients.
Consumer Duty overview
Get to grips with the Consumer Duty regulation and its cross-cutting rules, outcomes, and key dates.