PIS Confident On Risk Insurance Market

Professional Investment Services (PIS) has signalled its optimism about the year ahead for its risk insurance operations and for the life insurance market in Australia in general.

In response to the confirmation of its number one placing as Australia’s largest writer of risk insurance business in the latest NMG Risk Distribution Monitor survey for the September quarter 2008 (PIS Maintains Top Sales Position), PIS Managing Director, Grahame Evans, said he believes that results in the latter half of 2008 within the Group auger very well for PIS in 2009 and the market generally.

With these results to date indicating the present economic downturn offers opportunity, Mr Evans commented that “Consumers and businesses are definitely more aware of the financial consequences of personal tragedy such as a period of disablement or even death. Tragic events such as this can exacerbate an already pressured financial situation. The loss of income for example, even for a short period, can compromise debt servicing, wealth creation strategies or just meeting the basic costs of living or running a business,” said Mr Evans.

PIS has told riskinfo it is continuing to integrate its risk offering through its extensive network of accountants, financial planners and finance brokers, but at the same time, the opportunities for insurance outnumber the risk advisers within the Group itself.

This presents a challenge for the Group, but also offers an excellent opportunity to recruit more (suitable) risk advisers.

As well as looking to recruit more risk advisers into its ranks, PIS will continue to develop its Risk Specialist’s training programs in 2009, particularly in the area of Business Insurance, such as the ‘Corporate Will’ proposition for Businesses.

PIS is  also offering a ‘Special Risks Facility’, intended to offer insurance for clients who may otherwise be declined due to health issues, and will continue to run an extensive number of events to better inform existing and new clients about insurance matters.

PIS maintains an approved list of ten insurers, whose breadth of product offerings means it is unusual for an adviser to require a product from outside these providers.

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