Suncorp Life creates distribution unit
Suncorp Life has developed what it describes as “an engine room for product and service development and delivery” aimed at growing its direct distribution business.
The Product & Service business unit will help Suncorp grow its direct distribution business and further support independent financial advisers (IFAs), Suncorp stated.
Suncorp Life chief executive Geoff Summerhayes said the unit was the result of combining Suncorp's life risk, and superannuation and investments functions, under the one roof.
"It will deliver product and service in both life and superannuation that will be sold through two fully-focused channels - one on intermediated distribution called Adviser Distribution and one on direct called Direct Customer," he said.
Product & Service will be headed up by executive general manager Sean Carroll, who was most recently executive general manager of Suncorp Life New Zealand, Suncorp stated. David Carter, who was previously executive general manager, direct distribution, takes over the role of executive general manager New Zealand from 30 January.
Direct Customer will be led by executive general manager Vicki Doyle, who Suncorp said would be "accountable for the value proposition and channel strategy to direct customers of both life and superannuation and investments."
Former Asteron executive general manager Jordan Hawke will now head up Adviser Distribution, which includes Asteron Life, Guardian Advice, Standard Pacific and channel/dealer support services.
Summerhayes said the Suncorp group is able to leverage brands like GIO , AAMI, and Apia, and is committed to maximising that opportunity through direct sales.
"The IFA market remains critical to Suncorp Life's business as we continue to build and sustain relationships with IFAs through our Asteron Life brand," he said.
A Suncorp spokesperson said the changes are unrelated to the recent announcement that more jobs would be moved offshore, which primarily affects the personal insurance division.
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