Insurance Archives - Elixir Consulting

16 Dec LIF is the least of your problems

Posted at 13:44h in All Posts, Articles, Business Coaching, Business Plan, Change, Fees & Commissions, Insurance by Sue Viskovic

Many advisers are concerned that the Life Insurance Framework will damage their business by reducing their income and driving up the cost of life insurance. I wrote this article for specialist risk advisers in Risk Info Magazine, sharing my belief that while it is important to...

17 Nov Educated clients are better clients.

Posted at 13:43h in All Posts, Articles, Business Coaching, Business Management, Client Service, General, Insurance, Sales & Marketing by Sue Viskovic

Educating clients is part of the adviser’s role and most will have a well prepared and polished process to do so, but it can become tiresome (and time consuming!)running through this process with each and every client. In this article first published in RiskInfo magazine,...

28 Jun A voice promoting financial advice to business owners.

Posted at 12:18h in All Posts, Business Coaching, Insurance, Juice Console by Sue Viskovic

We're thrilled that our MD, Sue Viskovic was featured this month in an article in the Chamber of Commerce magazine. Set amidst stories of great entrepreneurs and business ideas, in a publication read by business owners, Sue was given the opportunity to share a small...

02 Nov The dangers of a Cost to Serve analysis

Posted at 14:40h in All Posts, Business Coaching, Fees & Commissions, Insurance, PDM, Profit by Sue Viskovic

I wrote an article recently for Risk Adviser magazine, that I have recreated here for our subscribers. There are some significant changes afoot to the last bastion of advice commissions, and we’re getting a little concerned that advisers are being lulled into a false sense of preparedness by well-meaning, albeit inexperienced supporters. I’ve been very vocal in sharing our view that this does not mean the end for insurance advice, and that we may see an even stronger demand for professional risk advice, but I’ve also not sugar-coated it. Any adviser who currently receives up-front or hybrid commissions, be they risk-focused or provide risk in a broader proposition will find it challenging to make the changes necessary in their business. It will, however, be well worth it - as our experience shows us that the type of thought process and change required will have a dramatic impact on a range of areas of their business, not the least of which, their bottom line. Here is what was published in Risk Adviser…..

02 Nov Some handy tools to help start preparing for the future of risk advice

Posted at 13:49h in All Posts, Business Management, Fees & Commissions, Insurance, Profit by Sue Viskovic

We've been busy these past few months, starting to work with advisers on how to handle the proposed Life Insurance Framework when it gets implemented. Two weeks after receiving confirmation that the new government is supporting the industry-proposed new Frameworks, I thought it might be helpful to share a few free resources we've developed.

24 Feb The Incredible Value in Insurance Advice

Posted at 16:37h in Advice, All Posts, Articles, General, Insurance by Sue Viskovic

There’s a lot of discussion happening at the moment about insurance commissions, and their place in the advice industry. Setting aside the reactions that advisers will go out of business, and we'll worsen the underinsurance problem in Australia, when we get right down to the heart of the matter, the question evolves from ...

will clients pay for risk advice?, to
should clients pay for risk advice, to
why would clients pay for risk advice?

If you’ve ever questioned the value proposition when providing advice on insurance, read on…

04 Feb What’s the future of risk commissions?

Posted at 16:18h in All Posts, Client Service, Fees & Commissions, HR, Insurance by Sue Viskovic

The structure of risk commissions in Australia is set to change. As it stands right now, commissions for risk advice are a legitimate form of remuneration for advisers (except in certain circumstances). However, the writing is firmly on the wall that the commission model as we know it will change. The question is not if – but when.