Zurich to launch LIF adviser blueprint
Zurich Financial Services Australia will launch a life insurance framework (LIF) support package blueprint for financial advisers at a national roadshow ahead of the 1 July transition.
The ‘Blueprints for the Future', which was developed in consultation with advisers aims to support advisers in different ways through the year including a product revamp, new technology, service initiatives, and a redesigned educational offering known as the Zurich Curriculum.
The blueprints support advisers across five areas, including product innovation, efficiency, business marketing and management, customer care and advocacy, and best practice.
Zurich Life and Investment business' head of distribution, Kristine Brooks, said Zurich was looking at technology-based initiatives to make the advice process more efficient, including the initial client engagement and on-boarding and ongoing client management, as well as the underwriting process.
Zurich research indicated advisers sought to invest in technology and increase their use of insurer provided services such as tele-underwriting and online applications.
She also said the firm's risk product update aimed to simplify the pricing structure, with a two-year rate certainty.
"So that's what we delivered, with a simpler pricing structure that was reflected in lower term and TPD (total and permanent disability) rates, and our new Income Protector range, which has a more sustainable design and pricing," Brooks said.
Zurich research showed advisers planned on expanding their advice offering and sought higher value client segments.
The roadshow starts in Perth this week and will visit all the state capital cities.
AUTHOR
Malavika Santhebennur
Recommended for you
Results are out for the latest sitting of the ASIC financial advice exam, with the pass rate falling for the second consecutive sitting.
Adviser losses for the end of June have come in 143 per cent higher than the same period last year, and bring the total June loss to over 350.
ASIC’s enforcement action is having an active start to the new financial year, banning a former Queensland financial adviser for 10 years in relation to fees for no service conduct.
ASIC has confirmed the industry funding levy for the 2024–25 financial year, and how much licensees can expect to pay.
