OnePath has reported a strong demand from advisers to utilise its OneCare risk product range within its Oasis superannuation platform.
Since OneCare was made available within the Oasis platform in November last year (see: OnePath Adds OneCare to Oasis), OnePath Head of Superannuation & Investment Platforms, Mark Pankhurst said that the product had experienced a strong flow of applications. “This momentum is especially pleasing since we launched just prior to the Christmas holiday period,” Mr Pankhurst added.
According to the insurer, adviser feedback indicates that the increase in demand has been due to a number of factors, including:
- A changed investment environment post-GFC where investors are more aware of the need for appropriate risk management within their portfolio
- Improved online insurance application processes
- Real-time, online case management
- OnePath investor education programs that promote the importance of risk management strategies.
Gerard Kerr, Head of Retail Products Marketing & Reinsurance for OnePath’s life insurance business, added: “It’s pleasing to see a big increase in our life insurance sales through Oasis.”
“Advisers understand the need to include risk protection as a critical component of an investment portfolio. In today’s uncertain financial environment, the only guaranteed way to protect assets is through life insurance,” Mr Kerr said.
