ClearView Wealth has announced new life insurance product series ClearChoice, followed by the October-scheduled launch of its life insurance platform which is expected to become the central point for advisers to access the products and engage with the firm.
The firm’s managing director, Simon Swanson, said the move followed the market’s resetting as all retail life insurance companies were required to redesign and reprice their life insurance products to address the sustained underperformance of income protection.
“The market is resetting and ClearView, as an organisation, is resetting. We have redesigned our core life insurance product and we have also ramped up our investment in technology to help ensure that we continue to meet the evolving needs of advisers and customers,” he said.
Additionally, the new integrated life insurance platform would include a new adviser and customer portal, policy administration system, and underwriting rules engine.
Advisers would also have access to educational content, explainer videos and client-facing tools to accelerate planning, the firm said.
“As more life companies release their products, the biggest changes will be to income protection insurance. We can expect to see transparent solutions with more moderate features, tighter terms and a greater focus on recovery to foster the product’s long-term sustainability,” Swanson said.