AIG persists with high tech education

AIG Life will be using podcasts more this year to deliver information to advisers, despite a slow initial take-up.

The life company has produced a series of podcasts about mental illness to help advisers understand the issues and how the condition is underwritten.

AIG Life head of adviser services David Mounsey said the podcasts were a joint venture with the Risk Store and claimed it is an industry first for delivering information to advisers.

“We’ve got a market edge in technology and we are pushing education through using the latest technology,” he said.

“However, the take-up has been slow, but we put that down to it being the early innovator in the market.”

Mounsey admitted the older risk adviser is unlikely to own an Ipod, so, therefore, would not use the new technology, but said there are plenty of younger advisers who do use the devices.

“The younger advisers have embraced it and more advisers are getting interested [in podcasts] as a method of learning while they are in the car or on the train.”

AIG has equipped its sales force with Ipods so they can demonstrate the podcasts to advisers in their offices.

“We will continue with using podcasts for delivering information and later this year we will deliver information about products this way,” he said.

“Our competitors haven’t taken up this way of delivering information yet as I suspect they are watching how it goes with us.”

Mounsey said it was similar with electronic applications. AIG offered the service a full three years before any of its competitors took up electronic applications.

“I suspect it will be the same with podcasts, as we are big on delivering information to advisers by innovation,” he said.

“Podcasts have become the new way of distributing information in the same way tapes did in the 80s and CDs in the 90s.”

AIG has issued three podcasts on mental illness to help advisers learn more about the illness.

“We want advisers to be better equipped to understand and be able to explain to their clients an insurer’s approach to this important public health issue,” he said.

For the past 18 months AIG has been tracking claims for disabilities relating to depressive disorders.

“Most claims have actually been from males and many claimants are from within the health profession,” Mounsey said.

“This means advisers must become sophisticated because the business is no longer just about selling life insurance.”

He said it was important the adviser recognised the issues concerning mental disorders and detect wether the person can be insured.

Factors that would need to be considered is the client’s age, the severity of the physical symptoms, need for medication and their ability to work, Mounsey said.