Skandia adds online group insurance
Wednesday, 5 November 2008 12:00pm
Skandia enhanced its platform to include online straight through processing (STP) group insurance, allowing advisers to easily and accurately provide the service without lots of paperwork.
The system's STP tool allows advisers to track the status of applications as it occurs and also provides email alerts on the progress of each application.
The online group insurance system is provided by TOWER Australia and is available to Skandia platform users after a successful three-week trial.
"For many Australians, putting life insurance into super is the simplest and most tax efficient way to ensure their income and family are protected. With the addition of our online technology solution, it is even easier for people to protect their lifestyle and dependents," said Andrew Boldeman, TOWER Australia head of group life.
Earlier this year, Skandia's chief executive Ross Laidlow moved to Sweden, leaving John Gethin-Jones and Andrew Black as chief executives of the Intech and Skandia retail businesses, respectively.
Prior to this announcement, the firm developed Wholesale Retirement Solutions that covers transition to retirement and income stream phases for aging investors.
The product includes 125 fund options, fee for service of dial up fee options and online access via Skandia's adviser interface.
Michael Hobbs
This story was found at: http://www.financialstandard.com.au/news/view/24426
Printed: Saturday, 13 March 2010 2:45am