BT Financial Group (BTFG) is examining an expansion of its life insurance offerings via its Panorama platform as part its ongoing development and rollout of the service.
BTFG, General Manager – Platforms, John Shuttleworth said the group currently offered insurance products from two providers – AIA Australia and Westpac Life – but was examining the possibility of wider approved product list on the platform.
He said AIA was predominantly used by advisers accessing BTFG’s existing Asgard platform and within its corporate superannuation offering, while Westpac Life was currently mainly used on BT Wrap.
“We are constantly reviewing, given Trowbridge and everything, on whether or not we will end up having to expand,” Shuttleworth said.
“We are open architecture on investments and quite often we get the question whether we should be open architecture in other areas.”
“We are actually reviewing a lot of this as we go through. On BT Wrap, and Panorama initially, it will be using BT insurance products which are part of Westpac.”
Shuttleworth said BTFG was looking at issues around pricing, and terms and conditions, and said product choice was a ‘moving feast for the industry’ with an ongoing discussion at BTFG around product provision to advisers using the group’s platforms.
