Just Retirement and The Hartford edged out more established providers to take two of the top three places in Sesame’s first provider service index.
Just Retirement was ranked top for service by members, followed by Skandia and Hart-ford. Friends Provident and Standard Life were fourth and fifth. Axa received the lowest ranking out of 21 firms, with Scottish Life and LV= also in the bottom three.
Major life companies with broadly middling rankings were Legal & General (seventh), Norwich Union (ninth), Clerical Medical (11th), Scottish Widows (12th) and Prudential (16th). Sesame plans six-monthly updates to the review to monitor providers’ progress.
Providers were assessed across four areas of service – handling telephone calls, ability to process and track new business, online systems and support, and handling correspondence and issuing mailings.
Sales and marketing director Stephen Young says: “Adviser research consistently cites service from providers as one of the key issues affecting the day-to-day running of their business.”