GENERAL INSURANCE PRICING PRACTICES: AN OPPORTUNITY FOR ADVISERS?

When it comes to general insurance, it’s important to ensure that the advice you are giving on policies is appropriate to the customer need at the time of renewal. One way of doing this is ascertaining that the policy sold still meets the need of the customer, or addressing any changes that may have occurred over the previous year which might affect the policy.

To assist with this, we have created two templates of questions for you to use that are linked below – one for use when you wrote the original policy and another for use when you did not write the original policy.

These give some useful guidelines around what you should do to justify the commission paid at renewal and should help you create the compliance file. It is by no means definitive, but gives a selection of questions and a rationale for you as to why you are asking the client the questions.