Zurich Financial Services Australia is launching new client-focused risk tools aimed at supporting advisers as part of its broader push into the Australian life risk market.
First for release, following a dealer group trial over the last couple of months, is a holistic risk audit document for advisers to use with clients.
The audit covers areas such as health, employment, relationships and family support, and aims to identify lifestyle goals and aspirations as well as the risks to those goals, with measures to mitigate and manage those risks.
Zurich strategic marketing manager — life risk, Marc Fabris says, “The idea is rather than an adviser having to spend too much time with a client, people can go through in their own time and discover what is important to them. Then they can better understand the advice that is being provided. It’s more about lifestyle planning and not just insurance.”
The audit also includes case studies which, Fabris says, illustrate the impact of risk on someone’s life, and how insurance can help to deal with those risks.
The next tool is a calculator to identify mortality and morbidity risk based on an individual’s age and circumstances, and will be piloted to a select group of advisers initially.
Fabris says the tools are unique in the sense that an adviser can use them with clients to assist in the advice process — which fits with Zurich’s stated aim of supporting independent advisers.
“We feel there is a lack of support in the market for advisers to promote risk advice generally speaking,” he says.
Zurich’s upcoming risk symposium, which will tour nationally, will also look specifically at how risk advisers can focus better on business efficiencies, through strategic alliances and referral sources.
