Platform provider HUB24 has added Zurich as a third retail insurance provider to its super and investor-directed portfolio services (IDPS) platforms.
HUB24 said Zurich’s Wealth Protection product complements its existing insurers TAL and AIA, and provides another choice for advisers and their clients.
Chief executive of HUB24 Andrew Alcock said the company is committed to providing more choice to advisers.
“Advisers have always had a choice of insurer for their clients outside of platforms and now seek the same choice for their clients within platforms to take advantage of an end-to-end solution,” Mr Alcock said.
“Typically, platform insurance offers have been limited to the ‘house brand’, denying clients an efficient solution with real choice.”
Mr Alcock said like HUB24’s other insurers, Zurich is making a commitment to working in a partnership with HUB24 and dealer groups to provide “exceptional service to its advisers and their clients”.
Zurich general manager of retail life and investments Philip Kewin said household budget pressure is increasing the appeal of platforms to consumers.
“With an estimated 40 per cent of individual risk platforms now written through platforms, we believe the timing of our new partnership with HUB24 is perfect,” Mr Kewin said.
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