In Singapore, the Insurance Culture & Conduct Steering Committee wants to cultivate the financial advisory representatives (FA Reps)’ servicing mindset:

“The value proposition of FA Reps should go beyond product advice and recommendations. Ongoing review of the suitability of the financial plan and product effectiveness in meeting the customer needs is an important element of financial planning as their needs change over time. Hence ICCSC also recommends that FAFs require their FA Reps to provide ongoing servicing of customers to review their financial plans..¹”

Consistent and competent post-sales servicing gives customers the assurance that the advisors put their needs at the forefront. This enables advisors to enjoy 3 to 4 times better conversion on existing customers than prospects².

How we help Don, a financial adviser with 150 customers

Don has a customer base largely concentrated in life and health protection and savings. Other than the occasional policy claims, servicing has been generally uneventful.