Asgard is set to launch a new platform which offers insurance as an optional ‘add-on’.
The Infinity eWRAP, which will be available next month, is a low-cost investment and super platform which the group says is suitable for clients with low balances. Advisers can then build on the core product by adding additional features, including insurance.
Asgard National Product Manager, Kelly Power, told riskinfo that Infinity investors would have access to Asgard’s Personal Protection Package, thereby delivering a consistent insurance experience across all the Asgard products.
“The insurance component is not like other add-ons for which there is an additional charge,” said Ms Power. “Clients only pay the additional premium.”
She said the decision to leave insurance out of the core offer was to provide advisers with the flexibility to tailor packages for different client segments.
“We did a lot of testing with advisers and got a lot of feedback. They told us they liked the option of adding insurance to a core product.
“It’s analogous to Foxtel – where consumers pay for a basic package and then only pay for the specific additional features they use,” she said.
