MorganAsh

Shepherds Friendly Society, with their business development consultant Lorna Taylor, is developing a presence in the IFA sector by establishing relationships with the major IFA networks.

In addition to all the benefits of the Holloway model for adult income protection, the product also includes the facility for an adult to insure against loss of income if they incur costs because their child is unable to attend school through illness.

Geoff Spencer, managing director of Shepherds, stated: “Our research told us that in launching a new product we needed to make it easier for advisers to deal with us than other companies. With MorganAsh tele-interviewing all clients, we are freeing the adviser from the arduous and embarrassing task of collecting medical information. With our product they can focus on the product and financial advice.” In addition, he added, “Advisers and networks are becoming increasingly aware of their exposed liability to their clients in having to undertake the medical interview. We consider this old model unsustainable within the ‘treating customers fairly’ environment. One of the major reasons for the recent decline in income protection sales is that consumers believe insurers try to avoid claims because of medical conditions. The skills of MorganAsh in establishing a person’s health should overcome this with a better end result for the customer.”

Andrew Gething, managing director of MorganAsh, commented: “Companies are increasingly looking to us and our tele-interviewing service to improve the sales process, and those who have adopted it have already increased their sales revenues as a result. While online applications were all the rage, they have simply transferred the data input task to the adviser, exposing them to an increased liability to the client.”

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Our clients say:

After the assessment is completed, I can put a certificate on every client’s file. So, everyone’s getting that consistent scoring and I also get a copy of the questions and answers so I can go in and find out how I may deliver a slightly different service going forward.

Paul Russell, chartered financial planner