What Is Our Research Methodology?
Our approach is simple and is designed to offer a more personalized and realistic rating for you and your clients.
We rate on:
- Definition: the quality of the wording, making adjustments for different terms and qualifications that we find across the market.
- Incidence: the likelihood of this item forming part of the benefit claim amount (100% meaning one claim of whatever type e.g. death, disability etc).
- Frequency: the number of times the benefit is paid (100% meaning the item will be claimed once, less if it might not be claimed, and more if it can be claimed more than once).
- Amount: how much you will get paid as a proportion of the total value of the policy based on a claims scenario.
Quality Product Research has a value-based research approach which is detailed on the attached infographic.
Happy Crunching!
The Quotemonster Team