Storytelling is critical to the future of financial advice


Listed financial services company, ClearView has released a booklet of customer reviews to highlight the benefits of life insurance advice and urge the industry to share their success stories, amidst Treasury’s Quality of Advice Review.

Featuring testimonials from ClearView customers, Claims at ClearView: What our customers say about us, showcases the value that financial advisers add, particularly at claim time, with the latest data from the Australian Prudential and Regulation Authority (APRA) confirming that taking out cover through an adviser often results in more competitive features and benefits, higher sums insured, faster payment times and fewer disputes.

According to Simon Swanson, ClearView Managing Director, it is up to the financial services community to educate consumers, policy makers and regulators about the value of professional advice and the difference it makes in peoples’ lives.

“Educating the community about the value of life insurance is a core part of ClearView’s customer engagement strategy. The industry has historically struggled to clearly articulate the tangible value it adds but it’s on full display during claim time,” he said.

“That looks like helping a client in desperate need complete and lodge a claim application, arrange doctors’ appointments, liaise with insurers and, ultimately, telling them that their claim has been accepted.”

Using the power of storytelling, nine ClearView customers boldly share their experience getting life insurance and, ultimately, claiming on their policy, after suffering an unexpected accident, injury or illness.

Of the nine customers, seven have had a claim paid in the last 24 months including five in the past year.

The booklet includes customer reviews from Suzanne, who lost her husband of 50 years, Laurence, to pancreatic cancer in 2021; Greg who has terminal cancer and been given roughly five years to live; and Stuart who was recently diagnosed with Lewy Body Disease.

It also includes stories from Melissa who suffered years of unhealthy workplace conditions, leading to anxiety and mental illness, and Jenna, who went for a routine pregnancy check-up only for doctors to detect a mass on her brain.

“Life insurance advice and the impact of the Life Insurance Framework are key focus areas of the Quality of Advice Review, which creates a unique opportunity for life insurers and financial advisers to get their clients to advocate for them,” Mr Swanson said.

“Customer reviews are extremely powerful and if we don’t talk about our successes then no one else will.”

The release of Claims at ClearView: What our customers say about us, follows ClearView’s submission to the Quality of Advice Review, which petitioned for no further adverse changes to life insurance commission caps in order to provide much needed stability and confidence.

Download the booklet.

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