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Weekly Life Insurance News Roundup

March 18th, 2012 | Posted by Editor in News

Zurich Australia touts ‘experience-oriented’ architecture
Zurich Financial Services is looking towards analytics, mobile services, cloud computing and APIs in a bid to win customer loyalty through improved, personalised services. Speaking at an FST conference last week, Zurich enterprise architect Sid Sanyal described the challenge of winning and retaining customers to life insurance – a “discretionary buy”.

Life insurance market should welcome regulatory changes: PwC
The upcoming Australian Prudential Regulation Authority (APRA) standards for life insurance companies should be welcomed by the industry as an opportunity to embed better practices, according to PricewaterhouseCoopers partner Scott Fergusson.

Real estate referrals key to new insurance revenue?
A referral scheme between Sentry and real estate agents is set to boost client numbers for the group’s planners. The proposition works like this: A property buyer is offered complimentary limited life insurance protection cover for 60 days. The planner is then given the property buyer’s details to follow up and activate the free cover and recommend an appointment to discuss their financial and risk protection needs.

The town defying the flood
THE Riverina town of Hay was defying the advancing waters of the Murrumbidgee River last night with a large part of the community ignoring State Emergency Service advice to evacuate immediately. Mark Vilo, the executive manager of specialist life insurer Asteron Life, owned by Suncorp, said ignoring the advice of the SES would not invalidate a life insurance policy.

Specialist planners better than one-stop shops, says Qld planner
Queensland-based planner Bruno Festa specialises in retirement and pre-retirement planning, but that wasn’t always the case. “I’ve moved away from being all things to all people and stuck to specialising in retirement planning. I can do life insurance and all those types of things, but I choose not to,” he told Wealth Professional.

Sentry rolls out a new referral process
Sentry’s life risk insurance advisers will soon have access to a new structured referral process that it says will benefit customers as well as provide growth opportunities.

Planners seek allies to win further concessions
HAVING won a 12-month reprieve from having to comply with the government’s Future of Financial Advice reforms, financial planners are concentrating their efforts on winning further concessions from the independents needed to pass the legislation.

AMP welcomes FOFA delay
AMP Limited has welcomed the Government’s announcement that the introduction of the Future of Financial Advice (FOFA) reforms will be delayed until 1 July 2013.

This material is not intended to constitute personal advice, and must not be relied on as such. This information has been prepared without taking into account your objectives, financial circumstances or needs. Before making a decision based on this material, you should consider the appropriateness of this material having regard to your own objectives financial circumstances and needs. You should consider obtaining independent advice before making any decision.

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