Australian Advice Network CEO, Paul Forbes, takes aim at the product manufacturers and ASIC in this article, as he sheds some light on key issues that are having an impact on the ability of advisers and advice businesses to efficiently write new life insurance business.

While he acknowledges the impact of the Life Insurance Framework remuneration reforms on new business levels, Paul takes us on a journey that tracks the progress of one life insurance application. In highlighting the numerous roadblocks and friction points he and his team experience on this journey to place a single life insurance policy on the books, Paul is calling on the product manufacturers to do more.

His message to the FSC and to all life companies is that they need to look to themselves and to reflect on their own processes and procedures when reflecting on why adviser numbers and risk new business sales are both in decline…