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
The RBA has handed down its much-anticipated rate decision, following widespread expectations of a close call.
Two national advice businesses have merged to form a leading holistic advice business with $2.5 billion in funds under management.
Insignia Financial has completed its transition of a range of administration and technology functions to SS&C Technologies as it seeks to be a leading wealth manager by 2030.
ASIC has permanently banned a financial adviser after he allegedly concealed information from clients and misused client funds, among other breaches.
