News round-up
Newpark launches new online tool
Newpark Financial Services has launched iBroker, an online needs analysis and generic application tool to help reduce time and cost of insurance applications.
Newpark general manager Barry Read says it will benefit advisers who place life and health business with multiple companies, as it saves them having to complete separate applications. It will also reduce turnaround times following up missed answers, as the application will only be sent if fully completed.
It is hoped the software will also reduce costs, as companies will be able to see who else the application has been sent to and can share medical information as required.
iBroker will be accepted at all the main insurance companies, except Sovereign.
ING supports regulation timeframe move
ING has said it supports the government's decision to extend the timeframe for financial advisers to fully comply with regulation.
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