We all understand that many clients are maybe under insured and finding a way to overcome this position in a manner that is not only cost effective but 'Client focus' has been somewhat of an tussle for the industry.

We see part of the issue creating underinsurance with clients is how can an Adviser effectively;

• Monitor their clients' financial position if they went on claim?
• Do they know how long the cover will last until the client would have to seek welfare?
• Do they understand how the cost of living of the client and how that impacts when no regular income is being generated?
• Does the client understand the GAP between what they NEED and what they HAVE and how do you present that in a dynamic fashion to ensure the client embraces your recommendations?

Creating a process that is not only easy for clients to instantly understand and more importantly engages them to ACT has been the design brief of SmartCover.

SmartCover overcomes the above issues by calculating the 'ideal level of cover' that a client should hold by factoring in all their Assets, Liabilities, Savings, Superannuation fund balance, expenses, including Cost of Living and comparing this with their current level of cover to ascertain what would be their position if the client would have to ‘be on claim and it recalculates this continually for the life of the client. It then calculates a worst-case scenario of the client before they would have to apply for welfare payments to survive, including investing the monies with a return of 6%.

The smart process here is that the above is monitored dynamically and seamlessly to produce the right outcome for your client.

We extended the powerful features of SmartCover by including a direct OEM quoting solution that reduces your workload for Risk business.

SmartCover Instant Quoting is an Adviser Only module that allows the Adviser to

• access a risk insurance quote directly from the provider,
• store the quote and client details within the providers 'backend' and
• complete an online application once the advice has been agreed.
• SmartCover quoting then stores the quote within the client file notes for compliance
• No more doubling up of information, doubling up of task or additional workload.