'Future life focused’
Sponsored by TAL, a new Ensombl research paper investigates the innovative ways advisers are sustainably introducing risk to their businesses.
Drawing on adviser insights, the paper reveals some common themes that could help you on your own pathway to a more sustainable future in risk advice.
Over the past few years, risk advice has undergone transformative changes, from the Life Insurance Framework to the Hayne Royal Commission. Many advisers have stepped back from writing risk, which in turn has put greater pressure on those that continue to do so.
At TAL, we’re committed to making it easier for you to do business every day. So we’re pleased to sponsor Ensombl’s paper and share insights from advisers who’ve found new ways to make risk a sustainable part of their businesses. Their experiences might help you make risk a better part of your business, too.
Some highlights from ‘Future life focused’ research paper
Common themes to a sustainable future in risk
While the advisers interviewed for the paper have all taken different approaches to risk, there were some common themes:
- A focus on efficiency: embracing strategic outsourcing and streamlining processes
- An advice philosophy that featured life insurance as a foundational component
- Innovative technologies that can create efficiencies and improve client experiences.
- A remuneration framework that is both profitable, yet affordable for clients.
Time-saving tips to use in your practice
Did you know digitalisation can save six hours per client?
Typical figures suggest online fact finds can save advisers 1.5 hours per client, and, in conjunction with other digital tools, a saving of 5.5 to 6 hours per client across the advice process is possible.
Inspiring adviser insights
“Better technology alone isn’t the key to writing more risk, you have to believe in it philosophically. We don’t see risk-only clients, and nor do we give clients a wealth plan without life insurance. We see life cover as fundamental to protecting wealth, as an asset that prevents wealth being eroded because of ill health, or worse.”
– Jodie Douglas, Principal Financial Adviser & Managing Director, Mad About Life
Any questions?
Reach out to your local TAL sales team or BDM if you have any questions about making risk advice a better part of your business.