Transition program uptake highlights willingness to change
The popularity of a program designed to help advisers from up-front commissions on life insurance to a hybrid system reflects their willingness to adapt, an insurer says.
More than 1,100 advisers have signed up to AIA Australia's transition to hybrid commissions program, the insurer revealed.
AIA Australia's chief retail insurance officer, Pina Sciarrone said the number of advisers joining the program since it was launched two years ago was testament to their willingness to switch to a hybrid structure.
"We developed our transition to hybrid program in response to feedback from advisers," she said. "And it is great that the program has been received so well."
AIA Australia has estimated that advisers who transition to hybrid commissions through the program could increase the value of their business by up to 93 per cent over the end of year 10.
Affinia licensee, David Lane said the program had allowed his business to grow sustainably.
"When you consider what is going to deliver long-term sustainable income for the business in future, a hybrid commission structure makes sense," he said.
"This type of program is a great way to make the transition, so I'm not surprised it's been so popular with other advisers."
AUTHOR
Nicholas O'Donoghue
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