Sold in an hour. Relied on in the worst week of your life.
Insurance is the one product where the person finds out what they actually bought at the moment they can least afford to be wrong about it.
What is actually being decided.
Insurance is the one product where the person finds out what they actually bought at the moment they can least afford to be wrong about it.
What actually goes wrong.
Not a list of villains. A list of places where the record and the relationship come apart, drawn from what the regulators themselves have published.
Unsuitable sales and weak oversight
Supervision work has identified unsuitable sales, consumers being misled, document falsification, and inadequate oversight of the people doing the selling.
Better for you, or better for them
Replacing an existing policy can be right. It can also restart commissions. The person is entitled to know which case they are in.
Recorded as a conclusion
A file that records a recommendation without recording the need it answered proves nothing to anybody, including the professional who made it.
Read for the first time at claim
The gap between what was explained and what was signed only becomes visible when it is too late to close.
The same four moments, in this decision.
Every industry on this site gets the same four moments, because the relationship is the thing that repeats. Only the decision changes.
Before a policy is bound
What this covers, what it does not, and what would have to happen for it not to pay. In the person's own language, before the signature.
On a replacement
The existing policy and the proposed one, side by side, with what is gained and what is given up, recorded as having been shown.
At every change
A change in coverage is a material event. It is surfaced, acknowledged, and kept.
At claim
The record shows what the person was told at the outset, so the argument is about the claim rather than about memory.
Better financial decisions start with better relationships.
The person understands what they are deciding. The firm can show how it was handled. Both of those come out of the same conversation.