AIA launches self-service insurance admin portal
A new web-based self-service portal from AIA Australia will enable financial advisers to take better control of the insurance administration process by simplifying basic tasks including change of detail information and banking details.
A study by Perpetual found that advisers spent more than 10 hours a week on administration work, but only nine hours meeting clients face-to-face and were therefore becoming steadily more in need of completing basic admin tasks quickly.
AIA chief retail insurance officer, Pina Sciarrone, said that financial advisers felt the need to improve their efficiency and boost profitability; use of the portal can ensure quality remains high and administration remains error free.
"Advisers are concerned they are continuing to spend too much time in manual handling and inefficient processes for insurance administration," she said.
"Web-based self-service technology will be increasingly used to streamline the administration process for financial planning and avoid costly errors and delays."
Sciarrone said that AIA was aiming to save time for staff as well as using the new portal to iron out basic admin errors including duplication of details.
"Practice principals want to make life easier for their practice administration staff," she said.
"Web-based self-service is one of the most efficient ways of enabling staff to take control... and streamline workflow."
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