TOWER Australia has announced that its new Accelerated Protection life insurance product range will be made available to advisers from 1 November 2009.
This new, ‘next generation’, product range will combine TOWER’s three existing product offerings, of:
- TOWER Accelerated Protection Policy
- TOWER Protection Policy
- TOWER Partner Insurance Portfolio
CEO of TOWER Australia Retail Life, Brett Clark, said the new Accelerated Protection range offered advisers and their customers the choice of either using the online service or the paper-based process: “This is about choice for the adviser and their customers while offering the latest in life insurance product and service.”
The key performance features and advantages within Accelerate have been retained…
Mr Clark said the Accelerated Protection range represented the next evolution in new life insurance platforms, emphasising that “The key performance features and advantages within Accelerate have been retained including the performance standard of having 85% of all underwriting decisions made within three working days.”
Mr Clark added that the new Accelerated Protection package has an upgraded and expanded underwriting solution, which “…greatly simplifies the life insurance offering from TOWER Australia for advisers and their clients.”
TOWER reports its new package has been piloted over the last month with very favourable feedback from advisers and riskinfo will provide further details in forthcoming bulletins.
TOWER Australia has also reported its Standard & Poor’s (S&P) insurer financiall strength rating has been increased to A (previously A-).
S&P advises it has upgraded TOWER’s rating because of its improved business and competitive position.
