IOOF has introduced an online insurance program to its superannuation platform. The program will help advisers process insurance applications or increase the level of a client’s insurance cover without paperwork.
The system is provided by Tower Australia.
“Insurance Online promises to significantly enhance business efficiencies for IOOF advisers, which will enable them to allocate valuable resources to different areas of focus within their business,” said IOOF head of product and marketing Nick Everingham.
“By submitting applications online, IOOF can now offer a more streamlined process for advisers, with the ultimate benefit being cost and time savings,” Everingham said.
The online applications are sent directly to the underwriter to produce an automatic underwriting decision, and advisers can track the progress of any application online.
Tower head of group life Andrew Boldeman said the online program would make super insurance more readily available to Australians.
