Niall McConville

A new nationwide survey of financial advisers released by leading Australian life insurer, TAL, has highlighted the growing role of advisers in supporting clients as they claim on their life insurance and the importance of collaboration between insurers, clients and advisers in ensuring positive claims experiences.

TAL commissioned the report, “The Value of Financial Advisers at Claim Time” to explore the role of financial advisers throughout the end-to-end claims process from both the adviser and client perspectives and to help inform and shape TAL’s ongoing support for financial advisers.

The report highlights the emotional challenges, for clients and advisers, when clients find themselves needing to claim on their life insurance policies. The findings also underscore the importance of claims training for advisers, and the positive impact that an adviser can have on a client’s emotional wellbeing throughout the claims process.

The research revealed that:

• 60% of advisers have felt stressed when working with their clients on a life insurance claim
• 43% don’t always know what to say when dealing with bereaved clients
• 77% of advisers agree helping their clients through claims is a key part of their offering.

TAL General Manager of Retail Distribution, Niall McConville, said the claims experience is at its most effective when insurers, advisers, and clients all work together.

“The research underpinning this report shows us that, by providing advisers with the tools, resources, and education they need to support their clients through a positive claims experience, we can empower them with the confidence to play that valuable role at claim time.

“Equally, there is a key role for insurers to better support advisers through what can be a daunting experience as they guide their client through a claim.

“The research backs up what we know from talking to our adviser partners – managing the challenges of claims can have an emotional impact on advisers. TAL remains as committed as ever to instilling confidence in our adviser partners and ensuring they have the support they need,” McConville said.

TAL Chief Claims Officer, Jenny Oliver, said a positive claims experience is at the heart of the TAL business.

“Resolving claims is the validation of a promise made between life insurers and their customers. During the often emotionally-charged period of claim time, TAL’s valued relationships with our adviser partners allows us to work together to enhance the customer experience across every stage of the journey through personalised and meaningful communication and connection

“TAL places a great deal of importance on ensuring those adviser partners who offer claims support as part of their advice service are well equipped and feel empowered to provide guidance to clients through the claims journey, and this report is an important step in better understanding the ways that we can do that,” Oliver said.

Read the report. 

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