Your role in the underwriting process

In today’s climate where cleanskins are the exception to the rule rather than the norm, I believe there are two key areas in which advisers can establish points of differentiation and thereby create a quality experience for their clients and they are:-

1) Pre-empting underwriting red flags and managing clients’ expectations – having always worked on a commission only basis as an adviser, I was always on a mission to minimise the occasions on which I did work for a client where business did not eventuate, so it was really important to flush out any potential underwriting issues right up front and before I prepare any recommendations for a client.

2) Being proactive during the underwriting process – hopefully you have confirmed with your client at the point of sale that they would rather that the underwriting process was quick and pain free rather than drawn out and painful, and therefore you have committed to doing everything you can to accelerate and facilitate the process, which will involve being proactive.

By fulfilling these roles in the underwriting process, you will move from completing a transaction for a policyholder to creating a quality experience for a client and this will open the door wide for referrals.

This is an excerpt from a recent 'Chrisism'. You can read the full text here