Kelly Phillips , Business Development Quality Manager , Simplybiz

Although it ’ s the area in which I work every day , I understand that sales quality – which includes persistency , conduct , and risk – can sometimes be confusing . In an ideal world , all providers would use the same tolerances , criteria , and formulas for assessing sales quality . However , in practice , this uniformity would not be effective . For example , some providers focus on the premium a customer will pay when analysing lapses . Others prioritise the number of policies a customer has , such as life , critical illness and , income protection , which would count as three separate covers .

PERSONALLY , I EMPHASISE THE NUMBER OF COVERS BECAUSE , IN MY OPINION , THIS METRIC BETTER REFLECTS THE CUSTOMER EXPERIENCE

rather than just the value of the policy they chose . This is not to say one method is superior or one provider ’ s calculations are better , but it does highlight how criteria and opinions vary across the industry . Each provider has its own risk appetite , unique views and the autonomy to make independent decisions .

It is easy to dismiss business quality as confusing or even negative , leading some to deprioritise it . However , the reality is that by regularly reviewing your business and processes , making improvements where necessary , and engaging in continuous training , you can significantly enhance your persistency and customer outcomes , regardless of the provider or their criteria for business quality . It is also important to note that providers are generally open to discussing metrics and improvements , offering a wealth of insight , so engage in those conversations , both providers and SimplyBiz are here to help . If you are unsure , do not hesitate to reach out !

For me , transparency and strong relationships are key . Some firms might hesitate to raise issues or concerns with providers out of fear of repercussions , but in my experience , being transparent with your provider partners only benefits you . It also helps to build relationships where you can be open and honest , discussing not only areas of concern but also where your firm is excelling .

Firms are constantly reviewing and refining their processes , identifying potential gaps and addressing them proactively . Providers do the same . After spending nearly seven years working at providers , I can attest to the continual evolution of processes and understanding . The landscape was markedly different when I started compared to when I moved to SimplyBiz .

SO , WHAT RECENT CHANGES HAVE I OBSERVED FROM PROVIDERS ?

8 | PROTECTION ADVISER | AUTUMN 2024 |