OAMPS moves further into life insurance space
OAMPS Insurance Brokers, a predominantly general insurance broking company owned by Wesfarmers, is trying to attract life insurance specialists to service its existing client book.
OAMPS Financial Management head Brian Jones said the group is looking to partner with life insurance businesses currently operating in areas where there are OAMPS branches. The majority of the group’s 28 branches across Australia lack a dedicated life insurance component, and more partners are required for branches that do have an existing offering.
The group is targeting risk specialists who are members of the Financial Planning Association (FPA) or the Association of Financial Advisers (AFA) to join as business partners. A statement from the group said new business partners will receive dealer group support as well as referrals from the group’s business client book to complement existing business. Those who join the network will be able to retain autonomy and management of their existing clients, the group said.
“Potential partners should be FPA or AFA members who have a focus on business clients and are committed to getting closer to their clients and the communities they work in,” Jones said.
“Our aim is to have advisers servicing every one of our offices by the end of the next financial year.”
The OAMPS general insurance network consists of around 450 brokers servicing mostly small to medium enterprise clients. The group said it has a book of 120,000 business clients and is the endorsed supplier of insurance broking services to more than 100 industry associations.
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