Skandia links with Tower on group life
Skandia is leveraging off Tower Australia’s technology to deliver what it claims is Australia’s first online underwriting system allowing advisers and their clients to access group insurance.
The new product, which is accessible by advisers via the Internet, recognises that superannuation represents one of the most attractive vehicles for accessing life insurance.
Commenting on the new product, Skandia general manger, product and marketing, Felicity Nicholson claimed the product would provide advisers with business efficiencies, allowing them to process insurance within minutes rather than weeks.
She said the product had been made available on the Skandia platform following a successful three-week pilot program.
Tower’s head of Group Life, Andrew Bolderman, acknowledged the fact that many Australians preferred to access life insurance via superannuation because of the tax effectiveness.
AUTHOR
Mike Taylor
Recommended for you
While the profession continues to see consolidation at the top, Adviser Ratings has compared the business models of Insignia and Entireti and how they are shaping the professional landscape.
Financial planning technology provider GBST has completed a significant upgrade of its Composer platform for its APAC clients.
Intelliflo has been acquired by global investment firm Carlyle for $200 million, stating it wants to accelerate the software firm’s growth in Australia.
Asset and wealth manager Prime Financial Group is looking to M&A and technology for future growth after growing its FUM by 58 per cent in FY25.
