We are delighted to announce our integration into the Midwinter AdviceOS ecosystem. The integration allows the real-time flow of insurance premium product data from OmniLife into the AdviceOS Fact Find, Client Portal and Statement of Advice generator. It also allows client data from AdviseOS to be pre-populated into OmniLife, ensuring a synchronised connection between the two solutions. If you're interested in getting a demo on how it works, please get in touch.
We are proud to announce an exciting partnership with local fintech firm - YTML who will be taking over the front-end of our popular quick quote solution for adviser websites. The tool will still be powered by Omnium's industry rated comparison engine, but our friends at YTML will be developing the interface. They have a suite of adviser website tools that this quick quote tool fits perfectly inside of, and we're looking forward to the synergy this partnership brings to advisers. To learn more about YTML's solutions head over to their website - https://www.ytml.com.au/
We are excited to announce the release of our latest feature in OmniLife - "Multiselect". This feature when turned on, lets you choose more than one setting for a premium option.
For example you can select Standard and Plus for Trauma Features and two premiums for each insurer will be shown for both Standard and Plus contracts. This will dramatically enhance your comparison experience, as you will no longer have to do different quote scenarios one by one.
We have listened to your feedback and we believe this new functionality will make your comparison experience quicker and more efficient. If you have any questions, please email firstname.lastname@example.org
We are proud to announce the release of our new Premium Projection functionality. We have spent months to implement this properly so advisers can easily project premium for various different scenarios. The new functionality covers:
You can now apply loadings specifically for each cover type and insurer.
Premium Vs Score Graph
See how insurers compare on premium vs feature score with this useful graph.
Income Protection Benefit Calculator
A quick and easy way to determine 75% of a client's annual income.
See Super and Non-Super splits on screen
Set and save default premium options
Ability to delete already saved quotes
Universal occupation matrix - ability to view and edit each one from the client summary
Campaign names now displaying in results
Life Insurers are now providing a new Premium structure on top of the existing Stepped and Level structures. They're being called "Hybrid" or "Blended" and play a role of being a fusion of both Stepped and Level structures. They start on a Stepped like structure with increasing premiums and they level out at a conversion age. It is a great innovation from the insurers, and we're proud to now support this structure with our quote illustrations.
To turn on Hybrid premiums, just choose it from the "Premium Structure" drop down in OmniLife.
We have made OmniLife fully responsive, so you can use our industry rated Life Risk research solution on any device and on any resolution. This means compact laptops, iPads and smartphones. Here's a little snapshot of how OmniLife looks on a smartphone:
Omnium launches - "Interactive Personalised Scoring", paving the way toward automated life insurance product reccomendations
As you might already know, as well as providing the industry with Life Insurance comparison data on premiums, we are also a ratings house. We research and rate Life Insurance products based on what we perceive as the most comprehensive and unique methodology in the market. Our ratings are being relied on by thousands of financial advisers across the country. So far, our ratings on life insurance products in the market have always been based on "anonymous" clients. This means our scores just evaluated the product entirely and didn't factor in the client that the product is being sold to. For example, take a Trauma product for a Male client, the score a Trauma product gets for this client will take into consideration Female Cancer definitions such as Breast Cancer. However, being a Male this definition is not relevant to this client, and should not be factored into product scores for that client. This is just one example where anonymous product ratings do not provide a completely fair rating.
We are proud to announce that our life insurance product ratings are now interactive and personalised to the client. The following are the ways we personalise our scores:
When nothing is known about the client the score being provided is an “Anonymous Score”.
In the coming months we will further personalise our ratings to take into consideration more client attributes, which will eventuate into the industry's first Life Insurance robo advice engine. Watch this space.
Omnium has made a major enhancement to its Risk Research solution – OmniLife by adding risk insurance products from major industry funds. This new addition allows advisers using OmniLife to see premiums and product features from over 20 major industry fund products. Even though there are major differences between industry fund risk products and retail risk products, we have integrated industry products in a way that lets advisers compare industry fund products with retail products in a like for like manner.
The integration comes with the following benefits:
Media articles about this recent development:
RiskInfo - "Omnium to offer Industry and Retail risk comparisons"
Risk Adviser - "Omnium adds industry fund products to research tool"
Financial Observer - "Omnium set to launch risk robo advice tool"