Aiming to streamline business processes and make the market more accessible, the service standard charter and new business templates will be accessed through a dedicated page on the Grid website that is open to non-members as well as members.
The service standard charter will give intermediaries indications of the turnaround times they can expect for the provision of quotes, invoices and other communications from insurers.
New business templates for group life, income protection and critical illness are designed to enable IFAs who are not expert in the group risk area to know what they need to ask to obtain quotes from insurers.
“The service standards charter puts responsibilities on both parties. Providing IFAs commit to do certain things, insurers will do too. But it requires both groups to play their part for it to work.
“At this stage they are just a promise as to what the insurer aims to deliver. There is no intention to make it a contractual obligation.”