Damien Mu
AIA Australia’s expansion of its Priority Protection insurance range on investment platforms continues with the addition of three new adviser platforms confirmed yesterday.
The new platforms include PortfolioCare, WealthView and PowerWrap.
Over the past 2 years, AIA Australia has launched eight new partnerships with wealth management platforms, including:
- Asgard
- Personal Choice Private
- Life Focus
- Hub24
- netwealth
- PortfolioCare;
- WeathView; and
- PowerWrap
AIA Australia’s General Manager – Life Insurance, Damien Mu, said the addition of Priority Protection to the new platforms would enable more advisers to purchase AIA Australia products through their preferred platform.
“Platforms are a rapidly growing business channel for advisers because of their functionality”, Mr. Mu said. “As a dedicated partnering specialist, it is important AIA Australia continues to innovate in this area and make it as easy as possible for our adviser partners to manage their clients’ policies.”
With over a third (39 per cent) of all risk business in Australia being written through platforms1, securing effective partnerships with investment platforms will remain a priority for AIA Australia heading into 2014.
According to Mr Mu, the feedback from advisers using AIA Australia’s fully integrated retail insurance solutions via one of these platform partners is that this market will continue to grow.
“Advisers are attracted to the convenience of operating via a platform as it allows them to streamline administrative and compliance requirements. At the same time, platforms are looking to broaden the scope of their offering to advisers by providing a competitive range of insurance products as a complement to their client’s investments.
“This is where AIA Australia can provide real value to both parties, so we will continue to be proactive in taking on partnership opportunities in this space as we look to next year”, he said.