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Seeing More Clients Will Not Save Risk Advice – ClearView

Risk advisers are unlikely to survive under the LIF changes by selling more insurance or seeing more clients and should consider expanding their services or implementing a mixed fee and commission model, according to ClearView. (more…)

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11 · December 4, 2018 in Compliance & Regulation, Products, Remuneration, Services  

AIA Names Advice Firm as Healthiest Employer

A Sydney financial advice business has been named as one of Australia’s healthiest workplaces as part of annual survey conducted by AIA Australia. (more…)

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0 · December 4, 2018 in General, Services  
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ASIC Cancels Licence of Advice Firm

ASIC has cancelled the financial services licence of a Melbourne based advice business that offered life insurance linked to personal loans, a month after it was hit with a multi-million dollar penalty for breaching financial services laws. (more…)

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0 · December 3, 2018 in Compliance & Regulation, Products, Services  

TAL to Offer Health Insurance Via Expanded Partnership

TAL will offer health insurance cover to the clients of financial advisers under an expanded partnership with health insurer nib. (more…)

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0 · November 30, 2018 in Company News, Products, Services  

NEOS Exceeds Target For Underwriting Decisions

New life insurance entrant, NEOS Life has announced that it made more than 86 percent of underwriting decisions within three working days, exceeding its own target of 80 percent set at launch in June of this year. (more…)

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4 · November 27, 2018 in Products, Services, Underwriting  

ClearView Launches Dealer Services Offering

ClearView has expanded the services offered by its financial advice arm with the creation of a dealer services offering for advisers who hold their own Australian Financial Services Licence. (more…)

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0 · November 20, 2018 in Company News, Dealer Groups, Practice Management, Services  
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Consumers Want More Adviser Contact For Insurance

Only half of advisers are conducting regular reviews of their client’s life insurance despite nearly 90 percent of clients wanting some form of contact every year, according to a new report from MetLife Australia. (more…)

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1 · November 15, 2018 in Practice Management, Services  

‘Community Standards’ Will Reshape Cost of Claims

The emergence of ‘community standards and expectations’ as a new benchmark for the behaviour of institutions will lead to a number of changes to the life insurance industry that is likely to have a multi-million dollar impact on policyholders, according to a report from reinsurance consultancy, Retender. (more…)

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1 · November 15, 2018 in Compliance & Regulation, Products, Services  

Revised FSC Life Code to Cover All Distribution Channels

The Financial Services Council (FSC) has released a draft of the second version of its Life Insurance Code of Practice (LICP) which it intends will apply to all distributors of the products of a life insurer. (more…)

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0 · November 13, 2018 in Associations, Claims, Compliance & Regulation, Products, Remuneration, Services, Underwriting  

OnePath Uses Big Data to Relaunch Underwriting System

OnePath has updated its underwriting rules engine reducing the amount of questions related to an applicant’s medical history by around 70 per cent, and reducing the time to complete an application by up to 30 per cent. (more…)

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0 · November 8, 2018 in Company News, Services, Technology, Underwriting