Coin signs over 50 to insurance product

Four months after its introduction, more than 50 dealer groups and boutique advisers have signed up to Coin Software’s new insurance product INC — a product Coin believes demonstrates the speed in which it can deliver new functionality.

Tony Graham, managing director of Coin Software, said the development of INC was a step towards Coin’s aim of building a single seamless integrated package for risk, investment and planning.

“There has been a great deal of interest in INC showing that advisers are very aware of the figures that indicate most Australians have inadequate insurance cover,” Graham said.

According to Graham, the enthusiastic response Coin has received to the new product is in line with research recently conducted.

“Our client research has shown that advisers want to provide their clients with a holistic and seamless advice service and if they can find a way to address their clients’ risk needs and ensure they are fully protected, they will take that option,” Graham said.

INC has been popular with large institutional clients as well as boutique advising businesses.

“Clients seem to like the integration of a risk module and their desktop financial planning software because it simplifies the entire process,” Graham said.

INC comes with an integrated risk-only statement of advice template and is described as cost competitive.

“It (INC) shows what can be achieved by listening to clients and acting on their feedback and of Coin’s ongoing commitment to allocating significant research and development funds to enhancing our product offering and delivering efficient solutions for advisers,” Graham said.