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Aon partners with Smartline to improve life risk advice for mortgage holders

In a sign of the continuing trend towards the integration of financial services, Aon Australia has entered into a new partnership with a mortgage broking business to provide life risk advice.

Aon Financial Planning and Protection, the financial advice division of Aon Australia, has partnered with mortgage broker Smartline, an Australian-owned mortgage company in operation since 1999. It has more then 200 franchise owners throughout Australia and more than 100,000 clients.
 
Under the partnership, life risk advice, which is traditionally offered as a bolt-on service for mortgage holders, will be integrated as part of a holistic mortgage advice offering for Smartline’s new and existing clients.

Aon Financial Planning and Protection Managing Director Pierre Kraft said: “Mortgagees have to protect their assets and this partnership gives Smartline clients access to a solution that not only covers their debt exposure but also helps them protect themselves and their families.”

Smartline clients will receive support from a client advocacy team that ensures their interests are at the forefront of all insurance decisions.

Smartline Managing Director Chris Acret commented: “We wanted to treat risk
insurance more seriously and make it core to our business. Aon has been at the forefront of risk insurance for a long time and we are extremely impressed with the company’s level of professionalism, which is why we’ve chosen to partner with them.”

Mr Acret said Australia’s underinsurance problem meant there was a gap in the market for this sort of service: “Australians are well insured in terms of our car or home contents but not when it comes to the bigger things in life. For every home that’s lost through fire, there are four lost through death and 48 homes lost through disability.”

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