The FIA Awards is not only used for celebrating the product suppliers who provide excellent customer service and functioning on a level consistent with industry standards, but also to inform the insurance and intermediated industry to actively evolve and raise service standards. With improving industry standards at the core of the FIA Awards, product supplier reports are provided to industry players focusing on segment and brand specific insights. The aim of these reports is to drive service delivery to intermediaries, to enable their businesses and also ensures an industry wide high level of service provided to the end customer.
Since the award’s ceremony In June this year, various product suppliers have shown interest in the reports and insights and feedback from FIA members. Reports have been sold across all the segments for a total of 15 category reports thus far. With these sales numbers, it is clear that the product suppliers take the views and opinions of intermediaries seriously and strives to better the service they provide and the industry as a whole for the end customer. Product suppliers are using the diagnostic insights from these reports to evaluate their business processes and value chain and build a consistent service experience for their clients.
The reports include an overview of the methodology, the segment rankings and performance per brand and per dimension. Most clients find the regression analysis most useful: This analysis allows a clear view of the key drivers (most important aspects of the service relationship) for the brand and category is determined. This allows clients to focus on those aspects that will have the biggest impact in the intermediated relationship.
In 2018 for the first time a separate claims handling process was included. This focused on specific aspects of the claims process, such as the professionalism in which the claims process was handled, the ease, speed and effectiveness as well as the fairness of the process, but not focusing on the actual claim results. The results from the claims dimension, has given a sense to product suppliers of how their process is currently performing from an intermediary point of view and factors that can be improved across the process.
The FIA Awards is therefore not only a celebration of exceptional industry players, but an opportunity for the FIA to highlight the value that the intermediaries offer consumers and the role they play in the current environment – by holding product suppliers accountable for their service standards.
