tmmonline.nz  |   landlords.co.nz        About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds

NZ's Financial Adviser News Centre

GR Logo
Last Article Uploaded: Wednesday, December 4th, 9:26AM

Insurance

rss
Latest Headlines

AIA NZ launches new online adviser onboarding application

AIA makes onboarding new advisers simplier.

Wednesday, September 20th 2023, 6:14AM 1 Comment

Its new tool, Digital Agency, will allow advisers to apply online to distribute AIA products, saving significant processing time and reducing the number of manual interventions and handovers, AIA chief partnership distribution officer, Sharron Botica says. 

This latest offering provides a pathway into the AIAHub portal – the company's one-stop shop for financial advisers.

Key features of the new online onboarding application process include:

  • Simplified application – advisers will now be offered an 100% digital experience, saving time and effort. 
  • Automated workflow, identity and due diligence checks – integration of existing systems and platforms to automate required due diligence checks and provide advisers with immediate access to product education and mandatory learning in AIAHub so they can get started whilst their application is in progress. The new system will also allow advisers to upload education and professional development certification into AIAHub once they’ve submitted their application.
  • Improved Business Development opportunities – making it easier for AIA NZ to track an application, saving time and enabling AIA NZ’s business development teams to focus on building relationships with advisers and helping their businesses to grow. 

AIA chief technology officer, Marc Hale, says the company is continually expanding and improving the adviser experience and this is the latest in its simplification journey.

“We’re proud that AIA NZ was first to market with our e-app, through AIAHub, and this new onboarding enhancement enables a digital experience for advisers starting their journey with us and reduces the amount of time spent on admin,” he says.

“It means advisers can focus on what matters most – serving their clients and providing great customer outcomes, with AIA NZ by their side. And we’re not done yet – look out for more from us in this space soon,” Botica says.

Tags: AIA

« [GRTV] Highly aspirational – an adviser’s take on the Million Dollar Round TableAsteron Life putting mental health at the forefront »

Special Offers

Comments from our readers

On 2 November 2023 at 4:27 pm JPHale said:
Can I start with I told you so?

I called BS on this process elsewhere and directly to AIA, and now I find the advice from AIA's BDM's to principal advisers onboarding associates is for the principal adviser to do it on behalf of the new associate.

Yes, I told you so!

Now, here's the problem: fraud, by the principal adviser.

Having had a bit of experience setting up agencies on all sides, there are a couple of things here that are problematic.

1. The agency agreement puts the individual on the hook for things that go on in that agency. The principal signing the associate up for this misses the massive legal point of contract consent. (not to mention the sign-off for liability without a signature)

2. The personal guarantee that comes with this, where the individual adviser personally guarantees the agency, something insurers don't issue agencies without. As a principal, you're nuts not to have one with your associates. Again, this is a consent issue; you can't sign someone up for liability or guarantee without their written consent.

For a principal, or anyone other than the new adviser going through this process and signing it off, you're putting yourself in the gun for a fraud claim against you. At the very least, it will end your career and maybe your business.

The FMA just threw the book at someone doing something similar with procuring loans — with documents used for pecuniary advantage.

AIA's BDM's need to refrain from advising on their system in this way, as the finger points back at AIA as the responsible party...

Sign In to add your comment

 

print

Printable version  

print

Email to a friend
Insurance Briefs

Apex Advice buys life business
Auckland-based Apex Advice has acquired a well-established insurance advice business.

Chubb's latest champion
Young maths prodigy takes out actuarial award.

New book: Unlocking group insurance
Christchurch adviser Corey Williams has released a new book helping advisers and employers put group insurance schemes in place.

Insurer gets warning from RBNZ
Geneva Finance's insurance subsidiary Quest Insurance been given a warning from the prudential regulator.

News Bites
Latest Comments
  • Partners kills its matrix
    “@Backstage, thanks. I agree there is no relationship to CoFI, though, from a service perspective, I have two other providers...”
    4 hours ago by JPHale
  • Partners kills its matrix
    “Partners Life has decided to stop using its COM for advisers as it believes the system may breach the CoFI regulations which...”
    21 hours ago by Amused
  • Partners kills its matrix
    “Insurance companies should stick to their lane. They are not advisers and even those that employ advisers should not be crossing...”
    24 hours ago by Tash
  • [GRTV] The nitty gritty of Smart’s ETFs
    “Advisors should consider all gateways into investment markets including cheaply priced ETFs to provide access to low priced...”
    1 day ago by Pragmatic
  • DRS member or not - client care remains advisers’ responsibility
    “FAPs are members of DRS too. Substitute “adviser” for “FAP” and the story is actually a lot more accurate. If...”
    2 days ago by Aggressively_passive
Subscribe Now

Cover Notes - Specific news aimed at risk advisers

Previous News
Most Commented On
About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox  |  Disclaimer
 
Site by Web Developer and eyelovedesign.com
x