{"id":79355,"date":"2025-09-29T10:51:37","date_gmt":"2025-09-29T00:51:37","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=79355"},"modified":"2025-10-03T09:59:01","modified_gmt":"2025-10-02T23:59:01","slug":"push-for-new-class-of-adviser","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2025\/09\/29\/push-for-new-class-of-adviser\/","title":{"rendered":"Push for New Class of Adviser"},"content":{"rendered":"
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Our report on AIA Australia’s Round Table debate on whether life insurers should offer basic advice to policyholders drew considerable reader attention this week…<\/h3>\n<\/div>\n<\/div>\n

Life insurers should be able to give policyholders quicker, simpler service on basic life-insurance matters. That was the general consensus of panellists taking part in the recent AIA Australia Round Table<\/a>, who also agreed the role of professional advisers should be preserved and protected.<\/p>\n

Keely O\u2019Brien<\/strong>, CALI\u2019s GM Corporate Affairs and Strategy, led the debate saying the challenge with the proposed new class of adviser is how they deliver more advice to more Australians.<\/p>\n

She says consumers can contact their general insurer and make alterations to their cover over the phone, and they expect to be able to do the same thing with their life insurance \u2013 thinking it is a minor administrative task to amend their existing policy.<\/p>\n

Having listened to some of the calls clients make to life insurers, O\u2019Brien said many customers want to have their requests attended to right away \u2013 but are frequently told this can\u2019t be done.<\/span><\/p>\n

\u201cIf they have to wait two weeks for a call-back, they lose interest and the issue never gets resolved,\u201d she said.<\/p>\n

…this would not replace fully qualified financial advisers, but complement them<\/p><\/blockquote>\n

\"Keely
Keely O’Brien.<\/figcaption><\/figure>\n

O\u2019Brien said the proposed new class of adviser could play a key role, offering free, entry-level advisory services through insurers delivered by advisers new to the industry. She said this would complement fully qualified financial advisers.<\/p>\n

\u201cBasic service conversations, such as reducing cover, could be managed directly with insurers,\u201d she said. \u201cBut once it moves into comprehensive advice, that\u2019s where the partnerships with professional advisers are critical.\u201d<\/p>\n

During the Round Table she signalled support from the FAAA and the FSC that would allow the new adviser class to act as a stepping stone for younger professionals entering the industry.<\/p>\n

\u201cWe are laser focused on what we would like to achieve for insurers,\u201d said O\u2019Brien. \u201cWe\u2019re not talking about cutting advisers out, it\u2019s about having good customer service.\u201d<\/p>\n

See: Resolution Life Launches Cover Adjustment Tool<\/a><\/p>\n

Click here<\/a> to access the AIA Australia Round Table – Advice at the Crossroads video series.<\/p>\n