This update summarises life company product, service and/or technology initiatives for advisers and clients during the first half of 2009, and what may be around the corner in the second six months of the year:
AIA Australia
- Company re-brand launch: ‘AIA Australia’, including product and underwriting changes. New PDS effective 24 June 2009.
- Technology update 31 March 2009. Main update for the year scheduled for November 2009, following November 2008 initiatives.
- Launch of eApp Express late July 2009.
AMP
- Product update second half of 2009, TBC.
Asteron
- Lifeguard update May 2009. Focus was on underwriting services and income protection for part-time workers.
- Product update scheduled for 3rd quarter 2009.
Aviva
- Rates changesfor certain inforce IP contracts, effective September 2009.
- 2 April 2009 update. Initiatives reflecting current market conditions.
AXA
- 6 April 2009 update focusing on enhancing underwriting processes and services.
- Product update expected 3rd quarter 2009.
BT Life
- Major initiative effective 27 April 2009: ‘Cut through the red tape’. Three key areas of focus were: underwriting initiatives, enhanced online features and new personal statements/other documents.
- Further enhancements/initiatives expected second half 2009.
CommInsure
- Imminent launch of substantial new online application and underwriting system, WriteAway. Roadshow presentations for advisers across late July, August.
ING Australia
- Extensive product/technology update, effective 25 May 2009, covering OneCare product range and OneCare Express electronic proposal and underwriting package.
- ING ‘Premium Break’ initiative.
Macquarie Life
- 15 May 2009 product updatefor Macquarie FutureWise and Macquarie Super Protector. Extensive product enhancements, particularly focusing on income protection enhancements within super.
MLC
- Enhancements for MLC MasterKey Custom, and MLC MasterKey Business Super but retail changes to take place in second half of year.
- Product update scheduled for October 2009.
TOWER
- Product update second half 2009, TBC.
Zurich
- Launch of new Zurich technology platform, LifeXpress, effective 1 April 2009. Covering technology initiatives, premium rates and product enhancements.
- Further initiatives planned for second half 2009.
