The Life Insurance Market
AXA's managing director of protection has lashed out at the Association of British Insurers' (ABI) plan to introduce scripts for the sale of critical illness cover.
Graham Harvey told CityWire.co.uk that having one set script to read off would "deny advisers the chance to tailor the products on offer to their clients’ exact needs."
The ABI is considering using scripts for critical illness cover sales, after research by the Financial Services Authority (FSA) discovered that many policy features were not being explained correctly when consultations take place over the phone.
Mr Harvey points out that it is these features which make the critical illness cover sector competitive – firms are constantly tweaking their product to make it work better for customers.
He queries how a set script could reflect these necessary alterations and would prefer advisers to be armed with tips of how to deal with common customer complaints.
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