Skandia links with Tower on group life
Skandia is leveraging off Tower Australia’s technology to deliver what it claims is Australia’s first online underwriting system allowing advisers and their clients to access group insurance.
The new product, which is accessible by advisers via the Internet, recognises that superannuation represents one of the most attractive vehicles for accessing life insurance.
Commenting on the new product, Skandia general manger, product and marketing, Felicity Nicholson claimed the product would provide advisers with business efficiencies, allowing them to process insurance within minutes rather than weeks.
She said the product had been made available on the Skandia platform following a successful three-week pilot program.
Tower’s head of Group Life, Andrew Bolderman, acknowledged the fact that many Australians preferred to access life insurance via superannuation because of the tax effectiveness.
AUTHOR
Mike Taylor
Recommended for you
Net cash flow on AMP’s platforms saw a substantial jump in the last quarter to $740 million, while its new digital advice offering boosted flows to superannuation and investment.
Insignia Financial has provided an update on the status of its private equity bidders as an initial six-week due diligence period comes to an end.
A judge has detailed how individuals lent as much as $1.1 million each to former financial adviser Anthony Del Vecchio, only learning when they contacted his employer that nothing had ever been invested.
Having rejected the possibility of an IPO, Mason Stevens’ CEO details why the wealth platform went down the PE route and how it intends to accelerate its growth ambitions in financial advice.
