AXA signs membership discount deal with RACV
AXA Australia has signed a deal with the Royal Automotive Club of Victoria (RACV) which will see the company offer a discount on its life insurance products to RACV’s 2 million members.
The 5 per cent discount is valid to all RACV members who take out new insurance policies, such as AXA’s Elevate Life, total and permanent disability and trauma products.
The offer is available through all of AXA’s advisers, and the company said it would look into expanding it to non-aligned advisers in the future, depending on how successful the program is.
AXA’s general manager for financial protection, Michael Rogers, said the deal with RACV was a good way to expand its client base and reach around 2 million potential customers.
“It was a good alignment between what RACV wanted to do with its membership and what we wanted to do,” Rogers said.
Since the offer was launched in November last year, AXA has received around 60 applications from RACV members, which senior the AXA product manager for individual life and new products, John Ashton, admitted was not a huge number.
“Since November we’ve been trying to educate advisers about the offering and make sure the system is robust; now that the program is fully in action, we expect more applications,” Ashton said.
Recommended for you
The FSCP has announced its latest verdict, suspending an adviser’s registration for failing to comply with his obligations when providing advice to three clients.
Having sold Madison to Infocus earlier this year, Clime has now set up a new financial advice licensee with eight advisers.
With licensees such as Insignia looking to AI for advice efficiencies, they are being urged to write clear AI policies as soon as possible to prevent a “Wild West” of providers being used by their practices.
Iress has revealed the number of clients per adviser that top advice firms serve, as well as how many client meetings they conduct each week.
