ING upgrades insurance offering
ING has upgraded its OneAnswer superannuation offering with a new online life insurance application and case management capability.
The company said the upgraded offering allowed advisers to write and manage group life insurance applications for clients utilising the OneAnswer Personal Super product.
According to ING, an adviser can lead a client through a series of questions, with the result that an application can be finished in between five and 20 minutes.
Commenting on the upgraded offering, ING’s head of retail platforms and employer super, Mark Pankhurst, said it represented the next instalment in an ongoing program of e-business enhancements.
He said the enhancements together with other recent improvements had occurred off the back of ongoing adviser research and feedback.
Recommended for you
Policy and advocacy specialist Benjamin Marshan has left the Council of Australian Life Insurers after less than a year, having joined in March from the Financial Planning Association of Australia.
The declining volume of risk advisers meant KPMG has found a rising lapse rate for insurance policies arranged by independent financial advisers, particularly in the TPD and death cover space.
The Life Insurance Code of Practice has transferred from the Financial Services Council to the Council of Australian Life Insurers.
The firm has announced it will no longer be writing new life insurance policies in the retail advised and corporate group insurance channels, citing a declining market and risk adviser numbers.