Life insurer AIA Australia has launched new automatic data feeds for XPLAN to help financial advisers cope with the “administration burden” of managing life insurance policies.
In response to an overwhelming demand from advisers, those who use XPLAN can now automatically receive daily risk data feeds containing application and policy information, according to a statement from AIA Australia.
AIA Australia chief marketing officer Tim Tez said the decision to offer data feeds for XPLAN is an important development for the organisation.
“We work in close partnership with advisers, and their consistent feedback has been that data feeds for XPLAN will help improve business efficiency,” he said.
“We know that advisers want to spend less time on dealing with the administration of clients’ policies and instead focus on providing the best advice possible. We are constantly looking at different ways to help advisers do this, and data feeds is another step in the right direction,” he added.
AIA Australia said the data feed will “free up” advisers' time by removing the need to manually enter updates to clients’ policy data, eliminating unnecessary administration.
GBA Financial Services senior risk adviser Shannan Stevens said keeping all clients information up to date in one place without having to log in several times is “fantastic”.
“My time is pretty tight at the best of times and I need to be dedicating as much of my capacity to giving advice to my clients,” she said. “Anything that enables me to reduce time on admin is welcome, so this sort of automation can only help.”
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