Launch of online risk quotation service
Research house Plan for Life has announced the launch of a new online life insurance quotation service, which will be made available to dealer groups and risk advisers.
The web-based subscription service will provide actual, on-demand risk quotations. To date, the life companies taking part in Risk Online include AMP, Asteron, Aviva, AXA Australia, CommInsure, ING, MetLife, Tower and Zurich.
Senior consultant and manager of the project Stephen Dingjan said: “Risk Online is the next major step in life insurance research. Advisers will be able to obtain the actual quotations they need without having to first learn how to install, use and update some 14 different life company quotation systems.
“Risk Online does this all at the one time and uses a consistent format for all quotations.”
He added: “This must be a material saving in time, energy and cost for advisers and their staff.”
Quotations are available for term life, trauma, total and permanent disablement (own and any occupation) and income protection cover.
Plan for Life believes “life companies will benefit substantially from the service, as advisers will be able to obtain actual quotations using the internet with maximum efficiency, and then proceed to implement new life insurance policies.”
Plan for Life is currently offering advisers and life companies a free trial of the service until June 14. Risk Online will then be rolled out to dealer groups over the following two months.
The trial service can be accessed at www.planforlife.com.au/index_riskonline.
Recommended for you
Licensee Centrepoint Alliance has completed the acquisition of Brighter Super’s annual review service advice book, via Financial Advice Matters.
ASIC has launched court proceedings against the responsible entity of three managed investment schemes with around 600 retail investors.
There is a gap in the market for Australian advisers to help individuals with succession planning as the country has been noted by Capital Group for being overly “hands off” around inheritances.
ASIC has cancelled the AFSL of an advice firm associated with Shield and First Guardian collapses, and permanently banned its responsible manager.
