Last week, a number of risk advice industry stakeholders questioned TAL’s purchase of the Lifebroker tool, with a range of responses surveyed.
In response, a TAL spokesperson told ifa the deal will not in any way alter the life insurance company’s business model or approach to customer service.
“TAL strongly believes in consumer choice because it is the right thing to do,” the spokesperson said. “TAL is committed that Lifebroker will retain its core purpose of full product comparison for customers and that we aim to grow the business further,” the spokesperson said.
“Many consumers are seeking more transparent product and price comparison, and Lifebroker has an important role to play in providing that service to Australians.”
Isn’t that last paragraph interesting Here they are banging on about advisers churning business and on the other hand they recognise that people shop their insurance and ask for comparisons.
It must be ok to switch policies if you are a online business but not if you are an adviser
TAL can’t expect lifebrokers to support them when they compete against them, there are plenty of other suppliers out there.