Online solution earns adviser revenue
Robert Corben
Saropa has joined with CGU Insurance to offer an online solution for financial advisers where advisers can earn revenue from any CGU policy that is sold via the online program.
Advisers can use the online solution to offer clients a personal recovery and underinsurance assessment service. The solution displays underinsurance alerts so insurance policies can be adjusted accordingly.
The co-founder of Saropa, Rob Corben, said that the online solution would allow advisers to share in the $14 billion commercial and general insurance market.
“Saropa strengthens client relationships by offering a possessions tracking and disaster recovery service under the adviser’s brand — effectively increasing client switching barriers,” Corben said.
“Additionally, the integrated CGU quoting system can provide referral fee income for the adviser. We envisage an adviser with 200 clients or more can potentially achieve a [return on investment] in a matter of months,” he added.
Cameron Watson, the national manager of affinity groups at CGU, said underinsurance was a big problem in Australia.
“We recognise the significant role that customer education and raising awareness of the risks can play in combating the problem. Reducing the risk of underinsurance by tracking the value of assets against policy value will help ease this problem and the potential anguish should you need to make a claim on your policy.”
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