BT extends phone-based claims handling
BT Financial Group announced this week it had begun offering Australia's first telephone-based claims service.
Announcing the move, it said the service was aimed at cutting red tape and long waiting times for customers facing what was often the most difficult time in their lives - making a claim on their trauma insurance.
Announcing the launch, BT Financial Group head of life insurance Phil Hay said the company had wanted to extend the same service levels it had accomplished with respect to its other products.
"We wanted to be able to offer the same relief and quality service to customers in the difficult situation of having to make a trauma claim, as we were able to make to those claiming on their income protection policies," he said.
Hay said the company had introduced the service quietly in November last year and had received excellent feedback from its customers.
He claimed the processing time had been dramatically reduced to an average of 14 days compared to 68 days for a paper-based claim.
Recommended for you
ASIC has released the results of its first adviser exam to be held in 2025, with 241 candidates attempting the test.
Quarterly Wealth Data analysis has uncovered positive improvements in financial adviser numbers compared with losses in the prior corresponding period.
Holding portfolios that are too complex or personalised can be a detractor for acquirers of financial advice firms as they require too much effort to maintain post-acquisition.
As the financial advice profession continues to wait on further DBFO legislation, industry commentators have encouraged advisers to act now in driving practice efficiency.
