Firm’s ‘office of the future’ strives for better connection between advisors and consumers
.jpg)
With more and more insurance providers now connecting directly with consumers, is the advice channel on borrowed time? Freedom 55 Financial certainly doesn’t think so – its new financial centre in Markham is testament to its belief in the advisory business.
The London Life subsidiary unveiled its ‘office of the future’ last week, the first stage of a company-wide overhaul of its financial centres. Key to the success of the updated centres will be increased technical capabilities. This is intended to improve the performance of advisors, rather than replace them, as vice-president for Freedom 55 Financial, Abbie MacMillan confirms.
“We are absolutely committed to the advice channel,” she says. “What we are trying to do is use technology to enable advisors to be more efficient and effective for their clients. We still firmly believe that most clients want to deal with an actual person, but we can use technology to enhance that experience.”
This might mean hosting virtual client meetings, sure to prove popular with those averse to gridlocked GTA traffic, or allowing real-time completion of web applications. Aside from simply connecting advisor and client, Freedom’s new centre also enables collaboration with product specialists using concept review and real-time document editing.
The rise of robo-advisors in recent years has given the human version cause for concern; the prospect of AI becoming commonplace in the industry is sure to provide similar grey hairs heading forward. Bearing that in mind, it is unlikely the advice channel will become obsolete anytime soon. A combination of experts using the best technology to increase their value proposition to clients is the most likely outcome for the industry, explains MacMillan.
“We are not discounting the fact that there are clients out there that will want to deal directly with an insurance company in the future,” she says. “That’s not what Freedom 55 is about; we are investing a lot in developing new advisors alongside our established advisors. We really see technology as a tool to enhance their value proposition for clients and make it easier for them to do business.”
Related stories:
MGA will retain independence despite Great-West acquisition, reveals CEO
Canada’s life and health insurers calling for greater focus on global trade deals
The London Life subsidiary unveiled its ‘office of the future’ last week, the first stage of a company-wide overhaul of its financial centres. Key to the success of the updated centres will be increased technical capabilities. This is intended to improve the performance of advisors, rather than replace them, as vice-president for Freedom 55 Financial, Abbie MacMillan confirms.
“We are absolutely committed to the advice channel,” she says. “What we are trying to do is use technology to enable advisors to be more efficient and effective for their clients. We still firmly believe that most clients want to deal with an actual person, but we can use technology to enhance that experience.”
This might mean hosting virtual client meetings, sure to prove popular with those averse to gridlocked GTA traffic, or allowing real-time completion of web applications. Aside from simply connecting advisor and client, Freedom’s new centre also enables collaboration with product specialists using concept review and real-time document editing.
The rise of robo-advisors in recent years has given the human version cause for concern; the prospect of AI becoming commonplace in the industry is sure to provide similar grey hairs heading forward. Bearing that in mind, it is unlikely the advice channel will become obsolete anytime soon. A combination of experts using the best technology to increase their value proposition to clients is the most likely outcome for the industry, explains MacMillan.
“We are not discounting the fact that there are clients out there that will want to deal directly with an insurance company in the future,” she says. “That’s not what Freedom 55 is about; we are investing a lot in developing new advisors alongside our established advisors. We really see technology as a tool to enhance their value proposition for clients and make it easier for them to do business.”
Related stories:
MGA will retain independence despite Great-West acquisition, reveals CEO
Canada’s life and health insurers calling for greater focus on global trade deals
