Bright Grey has seen the first blemish on its reputation as advisers complain of delays in getting policies on risk.
Many IFAs refused to be named in their criticism because of their liking for the company and appreciation of the fact that it has come clean early by warning IFAs in advance of the delays but current standards have been described by some as “atrocious”. Some believe the firm has become a victim of its own success after priding itself on high service standards.
Bright Grey chief executive David Robinson says the company has phased its entrance into the protection market to keep service standards high but it has had delays after new business levels rose by 40 per cent ahead of expectations.
The company has been recruiting but he says getting the right people and training them to an adequate level takes time. He says straightforward cases are being processed within 48 hours but more complicated cases are taking two to three days to be keyed in and just over two weeks to underwrite.
Robinson believes Bright Grey has broken the back of the delays and will be back at the service levels it promised within a couple of weeks.
Life Policies Direct director Jason King says the delays put Bright Grey in the bottom three in terms of service.
King says: “It is the three companies without online systems that are causing us problems with underwriting.”
Robinson says: “We have taken this issue seriously and put a lot of management effort into it. Now the backlogs are reducing, and reducing nicely. It has been a bit of a problem but that is not surprising if you achieve sales 40 per cent ahead of expectations.”