AIA Australia has partnered with the HUB24 platform, as it looks to further its product development for advisers in the wake of upcoming regulatory reform.
“Platforms are a rapidly growing business channel for advisers because of their functionality,” AIA general manager of life insurance Damien Mu said.
“It’s important AIA Australia continues to innovate in this area and makes it as easy as possible for our adviser partners to manage their clients’ policies.”
AIA said compliance concerns due to regulatory reform have been a catalyst for growth, with a third of risk business being written through the platform market.
HUB24 said the partnership will assist advisers looking to reduce their administrative loads and that the platforms product list was the result of adviser demand.
“Writing retail insurance via a platform makes a lot of sense for advisers, and it’s important that platform operators offer advisers sufficient choice to enable them to select the most appropriate solution for each client,” said HUB24 acting chief executive Jason Entwistle.
The partnership marks the third platform link-up AIA has established in the past two years.
Going forward, the insurer has said they are focusing on building strong partnerships and strengthening new distribution channels.
Mr Mu said AIA is currently in talks with a number of platform providers who are looking to work with multiple insurance partners.
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