AIA Australia expands its wealth advisor platform partnerships to eight.
AIA Australia, the Australian life insurance firm, has expanded its range of Priority Protection products with the addition of three new advisor platforms.
The new platforms, PortfolioCare, WealthView and PowerWrap, add to the five partnerships the company has forged with wealth management platforms in the last two years, including Asgard, Personal Choice Private, Life Focus, Hub24, netwealth. In a statement, AIA said that around 39 per cent of all risk business in Australia are written via platforms, thus making these channels are priority heading into 2014.
"Advisors are attracted to the convenience of operating via a platform as it allows them to streamline administrative and compliance requirements. These also broaden the scope of their offering as a complement to their clients' investments," said Damien Mu, general manager for life insurance.
AIA Australia is part of pan-Asian life insurance group AIA Group, which operates in 17 markets in Asia-Pacific. Locally, it services some 2.5 million Australians.