The roll-out of BT Protection Plans is “full steam ahead”, according to BTFG’s Head of Life Insurance Phil Hay, following a standing–room-only national roadshow launching the new life insurance solution and external recognition for one of its key service elements.
“More than 1,000 advisers have attended our roadshows which launched BT Protection Plans to the independent financial adviser market and there’s still 6 launches remaining,” Mr Hay said.
“At the same time we’ve been talking with advisers about the end-to-end life insurance solution we have built, our customer-centred claims philosophy has proven they continue to break the mould by being announced joint winner of the 2010 Plan for Life/AFA Risk Insurance Innovation Award for its first-to-market ‘tele-claims’ program.”
Mr Hay said the success of the roadshows has reinforced to his team how important it was to launch a life offering that is built in full consultation with advisers and from a clean sheet of paper.
“The most overwhelming feedback we are receiving from advisers across the nation is that BTFG’s arrival as a new entrant to life product manufacturing is a welcome one,” he said.
One prominent dealer group executive said, “The competition that will be created from a new agile and responsive player in the life market will create efficiencies that many dealer groups will look to partner with in providing advice solutions to Australians.”
“In addition to the roadshow’s success, the independent acknowledgement of the team’s outstanding claims processes can be attributed to their unwavering focus on support when their customers need it most. For insurers, the real ‘moment of truth’ is at claim time and we have invested heavily in staff and systems to make processing claims as efficient as possible.” Mr Hay said.
Head of Claims, Paula Taweel, pioneered the ‘tele-claims’ program and can see daily the benefits it provides to advisers and their clients.
“At the time of claim, we are delivering on a promise that financial advisers have made to their clients. Part of the promise is to make the claims assessment process simple and painless,” she said.
“’Tele-claims for Income Protection policies reflects this. We’re the first and only insurer to offer this service and it was borne out of market research that highlighted the importance of making the process as easy as possible – without making a customer feel like they’re jumping through hoops.
“We introduced tele-claims in March 2010 which was based on accepting income protection claims, in some circumstances, over the phone without any claims forms or even a signature.
“Since launching, about 25 per cent of income protection claims have been paid using the tele-claims initiative which has reduced the end-to-end times by up to four weeks. In fact, it takes the BT life claims team just six hours to deposit a payment in a customer’s account following receipt of the medical certificate.
“The recognition our claims team is receiving is a core reflection of how we strive to constantly innovate our business conduct,” she said.
