AMP has increased its life insurance approved product list (APL) to include five major insurers and made it common across all AMP licensees.
The company announced today that its life insurance APL now included BT and MetLife as new additions alongside AIA, OnePath/Zurich and TAL.
The company said that, for the first time, the APL would be common across all AMP’s licensees: AMP Financial Planning, Hillross and Charter.
Commenting on the move, AMP director of adviser partnerships Brian George said it had followed rigorous industry review and tender processes by the company’s advice research team.
“Clients and advisers will benefit from a competitive choice of policies and the enhanced service levels these insurers are offering, including claims resolution and support, technology support (including data feeds, shared portals), licensee-centric reporting, education and technical support, and future product development.”
“Existing life policies held by clients with insurers not on the APL will not be affected by the changes,” he said.
Comments
Genius work.
Insert some witty comment here about;
a) reduction in Insurers available due to Industry changes,
b) decades of house product and competition, and/or
c) closing the gate after the horse has bolted?
Let's remember it's pretty easy for these insto's to make the home team smell like Roses and the alternative on the APL look absolutely crap. Restricting emails, restricting communications, restricting BDM contact are just some of the brainwashing tecniques...then let's consider the support you'd get from the Hometeam for advisers that support the hometeams products,,then let's design systems, process, software that seamlessly support the hometeams products. Brainwashing Cults is the word to describe licensee's aligned with product manufacturers.
So, out of fresh ideas, any originality, and desperate to make itself look industry representative AMP is finally catching up with what National Mutual did back in the 90's. The Titanic of the industry is sinking and just throwing out ideas to try and keep itself afloat. Won't be long now before it goes belly up!
Tender process? AMP still do not get it.
AMP ?...(Alternate Management Principles? )
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