Client problem

Some Independent Financial Advisors (IFAs) lack usable digital solutions and accessible tools, making it challenging to efficiently compare and select the right insurance cover for their clients

Objectives

To uncover what IFAs expect from insurance provider websites and portals. So L&C can identify areas for digital improvement.

Approach

Conducted qualitative research through interviews with IFAs, focusing on website usability, essential content, and the digital tools needed for client advisory processes.

Research implications

To better support IFAs, insurance providers should focus on improving website functionality with intuitive digital tools and calculators. Clear and transparent product details are essential to help advisors make informed decisions. Educational content for both advisors and their clients can build trust and showcase expertise. Finally, maintaining high-quality customer service and ongoing engagement ensures lasting relationships with advisors.

Findings

Key features needed:

IFAs prioritise detailed product information, transparent fees, and user-friendly digital tools like calculators and comparison features.

Ease-of-use:

Digital platforms offering streamlined navigation and efficient workflows (e.g., Quilter) were consistently favoured.

Relationship importance:

Relationships with provider representatives and accessible customer support enhance the selection process.

Educational value:

Advisors benefit from resources that simplify insurance concepts for clients, such as FAQs and explanatory content.