Australian financial services firm ‘Rice Warner’, recently coined Australia the ‘Underinsured’ nation. So now might be the best time to speak to a reputable and personable insurance provider about a tailored policy. It’s no fault of the individual who believes they’ll be covered if injury or illness hampers their ability to work however, the trend of ‘off the shelf’ policies and the shiny package they’re wrapped in can create a false sense of security when the unexpected occurs. Whether you dread waiting in the queue, filling out the lengthy documentation requirements or you are uncertain you’ll be paid out at claim time, here are four reasons to consider a bespoke insurance provider over a big-name provider.
Keeping an open mind to the unique circumstances of every claim is part of the personalised service that we pride ourselves on. Not only do we apply this approach to all of our 3,000 happy customers, but we aim to continuously strengthen our business relationships with brokers to ensure thorough, bespoke quotes and claims are distributed as quickly as possible. This customer service approach is key to removing the barriers to entry that can be upheld by insurers that pedal as many ‘off-the-shelf’ policies that do not consider your specific needs. No matter how improbable the risk, our online quoting and end-to-end system will filter your information through a bespoke system, overseen by professionals with over 40 years combined industry experience.
We’re not pushy.
Aspect Underwriting negates any sales and incentive schemes for employees as the business structure simply won’t allow for it. In fact, the vast majority of quotes and policies are handled or overseen by the Managing Director, who brings long-term and extensive broker and underwriter nous directly to each matter.
Big name vs bespoke
We want to provide assurance that all valid claims will be paid as per the policy terms without any hidden catches. Drawing upon our personalised service, we also take all claims seriously and provide a framework in which clarification can be sought at any time of the policy cycle from quoting to purchasing, As a bespoke insurance firm, it is our duty to tend to our customers claims with thoroughness and sensitivity. It is true that when it comes to claims, the bigger name insurance providers have received a bad rap from their customers. A recent ABC article cites a business interruption policy claim to IAG that underpins the frustration of a policy holder “Every time I’ve made a claim, they’ve waited to the last possible day to respond,”.
Nothing to hide
Another persistent problem in the industry is the fog surrounding ‘Exclusions and Loadings’. As is the industry standard to apply a pre-existing illness exclusion, Aspect Underwriting can cover anything new or any illness that hasn’t had treatment or advice for treatment in the 12 months prior to the policy starting. An Aspect Income Protection Policy doesn’t load premiums or add additional exclusions. This is not ‘industry standard’ but instead a high value safety net offered by a bespoke company that values peace of mind for their customers.
Dr. Michelle Blanchard (Deputy CEO, SANE Australia) attests to the prevalent frustration felt by Australians `One of the issues that’s been identified [by] our colleagues at Beyond Blue and Mental Health Australia – is that people who experience mental health problems often find themselves excluded from receiving insurance coverage, or subject to much higher than usual premiums”.
Because the Aspect Underwriting team consists of personable specialists, we can afford to uphold our customer service principles of assurance, accessibility and availability to our customers.