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Insurance is fast becoming a significant product offering for brokers, according to Choice Aggregation Services (CAS) CEO Brendan O’Donnell.
CAS members recently achieved the milestone of $2 billion written in mortgage protection cover with Australian Life Insurance.
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According to O’Donnell the sharp up-take from Choice members in offering insurance bares testament to the momentum diversification now has across the industry.
“Such a substantial level of insurance clearly demonstrates that we are now operating as a truly diversified industry, not just talking about it,” he said.
Mr O’Donnell also believes the significant level of cover now written by brokers reflected a growing acceptance from consumers that brokers are a preferred channel for products above and beyond residential mortgages.
“The broker market is maturing and clients now increasingly trust their broker to provide products above and beyond residential mortgages,” he said.
