AMP has released a practice diagnostic tool that measures ‘LIF readiness’ to advisers outside its aligned advice network.
Initially released only to advisers within its licensee network, the tool allows advisers to find areas of their business that need attention and to put an action plan in place.
The insurer released the tool as part of an enhancement to its recently launched Life Insurance Framework (LIF) resource hub, which includes the addition of practice management tutorials (see: AMP Launches LIF Resource Hub).
The tutorials are presented as an eight-part video series, developed in conjunction with independent advice expert, Sue Viskovic (Elixir Consulting), and covers pricing and revenue models, as well as target markets and setting a value proposition.
AMP Director Insurance Proposition, Greg Johnson, said the enhancements were a result of the company looking to identify how advice businesses would be impacted by the LIF legislation.
“The enhancements to the LIF hub will provide advisers with further tools and support to help them get across the line in transitioning their business into the new environment,” Johnson said.
AMP launched the hub in September and joins a number of other insurers including ANZ, TAL and AIA Australia, who have created resources to help advisers prepare for the commencement of the Life Insurance Framework reforms.
