The Wealth Index tool, accessible through Zurich’s Adviser Flipchart app, creates surveys based on a range of subjects, including insurance, estate planning, superannuation and investments, according to a statement from Zurich.
The surveys can be shared with clients via an online link and can be completed on any mobile device within two minutes, the statement said. The link can be also be distributed on social media and in direct emails, as well as housed on the company’s website, Zurich said.
The surveys are designed to “allow individuals to ‘self-assess’ their preparedness and literacy across different aspects of their finances”, the firm added.
“The inputs are then used to calculate a score or ‘index’, effectively identifying those areas where the individual may need expert advice.”
Zurich’s head of sales strategy and research, Andy Marshall, said that with the Life Insurance Framework (LIF) changes looming, it is imperative that advisers consider new ways to reach out to new clients.
“The initial adviser feedback around the LIF changes is that many will seek to access new types of clients and become more efficient in their client engagement process,” he said.
“For advisers, having an automated or ‘robo’ tool like Wealth Index to equip them with information such as the type of cover, level of debt, and knowledge – or lack thereof – of their clients’ sum insured prior to the first meeting could be a game-changer.”
