New online tool created
Cannex has combined its insurance research and quotation tool with the Statements of Advice preparation tool offered by real services to create an all-in-one insurance device for advisers.
The new online instrument, adviserinfo, allows advisers to complete a fact find, accurately calculate insurance needs, compare and recommend products, quote premiums and produce a Statement of Advice, all in less than 30 minutes.
Cannex adviser services manager Chris McEvoy said the new tool would help advisers deliver a compliant, needs-based insurance solution in the presence of a client.
“It is a well known fact that Australians are underinsured, and in recent times the finger has been pointed at financial advisers for failing to adequately address risk with their clients,” he said.
“Many advisers shy away from selling insurance because the systems are too complicated … this service now makes it easier for them to offer risk advice.
“This system is easy to use and you can get all the information you need from it to sell insurance.”
He added that the combined offering was unprecedented in the Australian marketplace.
Both groups said the new apparatus was fully customised and affordable, adding that because it was web-based, there were no software or maintenance issues, meaning it could be accessed anytime, anywhere.
AUTHOR
Recommended for you
Sequoia Financial Group has announced it is selling off its Informed Investor subsidiary which it acquired in April 2022.
Wealth Data has examined which advice business model has seen the most growth since the start of the year including those that offer holistic advice.
Research conducted by Elixir Consulting and Lonsec has quantified the efficiency gains of using managed accounts in financial advice practices in hours per week saved.
With only one-quarter of advice practices actively seeking feedback from clients, the Financial Advice Association Australia has emphasised why this is a critical tool for client retention.
