Online group risk becomes ‘proven concept’ amongst advisers

July 24, 2013 - PRLog -- In a recent survey of those who have used its services, 90% gave Ellipse an overall score of 7/10 or higher, with an average rating of 8.1.

Ellipse’s founding CEO, John Ritchie, was delighted to receive this collective thumbs-up from the adviser community.  “Coming into a market with a completely different approach to handling business is never easy.  However good you think your ideas are, it takes time for others to consider, test and – hopefully – buy into them, especially when the lead times between initial enquiry and business on the books are long, as is the case in group risk.  

“Now though, it’s not a case of us saying ‘Try doing it this way, we think you’ll find it’s better’, it’s advisers using our systems and placing business with us who are telling us ‘This really works’.  

Three-quarters of them in the Ellipse survey rated the online quote service at 8/10 or better for ease of use, and two-thirds give the same high ratings for the more recent online data update service.  Some even revealed that their initial scepticism at the idea of quarterly data updates had gone once they had actually tried the service and found how easy it was for them and their clients to use.

[Chart shows percentage of advisers awarding scores out of 10 for Ellipse’s new online data update service, where 5 = no better or worse than old ‘offline’ methods.  Only two advisers (out of 58) preferred the old methods.]

“We set out to show that there was a faster, better way to offer group risk insurance that would give adviser firms of all sizes the means to handle it efficiently and profitably.  The feedback from them is that the concept is well and truly proven.”

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Journalist enquiries:

·         Kay Phelps 07710 043244 / PRinHR, kay.phelps@PRinHR.co.uk  

·         Parm Evans 07501 462045 / PRinHR, parm.evans@PRinHR.co.uk

·         Peter Fenner, Communications Manager:  020 3003 6212 / peter.fenner@ellipse.co.uk

About Ellipse

Highly rated by advisers, the following percentages of those using Ellipse awarded 8/10 or better for:

·         Ease of use of online quote service – 76%

·         Quality of team’s service – 83%

·         Overall proposition – 75%

Ellipse is a specialist group risk insurer offering group life and critical illness protection, with group income protection cover. Headquartered in London and led by CEO, John Ritchie, Ellipse is the trading style of the UK branch of ERGO Lebensversicherung AG, part of the Munich Re Group.  It trades separately from Munich Re’s UK reinsurance businesses.

Registration number: BR010594.  Registered office: 15 Bermondsey Square, London SE1 3UN.  

ERGO Lebensversicherung Aktiengesellschaft is authorised by BaFin (the German regulator), registration number 1184 and is subject to limited regulation by the Financial Conduct Authority.  Details of the extent of our regulation by the Financial Conduct Authority are available upon request.