AMP launches life insurance ‘toolbox’

“Life insurance plays a vital role in the wealth and health of Australians, but we recognise it is an inherently complex product,” the group's head of retail insurance Greg Johnson said.

“This initiative will help make managing insurance less complex for advisers and, in turn, their customers.

“We will continue to support advisers to deliver quality advice, including developing technology and systems which allow advice to be delivered more efficiently,” Mr Johnson said in a statement.

The new website includes AMP’s GPS Navigator, an online tool that allows advisers to match clients’ goals and circumstances with particular product features. It also includes details of a 5 per cent discount for customers taking up new AMP policies.

“For the past few years we have been focused on transforming our business, increasing the value customers receive and improving the experience they have," Mr Johnson said.

“This has involved introducing a new approach to assessing and managing life insurance claims and developing processes of managing insurance that are less complex.”

AMP also recently launched an online tool to promote goals-based advice.