WHK cuts CommInsure and MLC from risk APL
WHK has overhauled its risk approved product list (APL), removing CommInsure and MLC while adding BT Life and Asteron to the existing stable of TAL, Zurich and Macquarie Bank.
The three-year APL partnership with the newly approved providers began on 1 March following a tender process that sought commitment from insurers for financial adviser education and support in gaining efficiencies through technology, WHK stated.
Products also had to address the needs of particular occupational groups within the WHK client base such as rural and mining, medical professionals, qualified tradespeople and SMSF clients requiring insurance, said WHK Group head of financial services John Cowan.
"We also wanted key partners that could provide WHK's distribution network with adviser education support, high levels of service and dedicated sales campaign involvement," he added.
He said it was increasingly important to achieve technological integration, and the group sought a commitment to greater efficiency through data feeds into COIN software.
The tender process was managed by WHK's Maurice Thaung, working with tender manager Life Risk Partners, Cowan said.
Life Risk Partners managing director Stephen Dingjan said the process was flexible enough to accommodate a high level of customisation.
"For example, we assisted WHK to determine which companies could best address key needs of the business to provide quality product and sales skills training, and the ability to provide downloads of existing policy data in a consistent and coherent manner," he said.
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