Advice network selects insurance partner, launches new product

Self-licensee financial planning network, The Principals’ Community (TPC), has secured a partnership with Numerisk to be its preferred insurance provider, as well as launching a new co-developed insurance solution.

TPC said the decision followed a “comprehensive” search for a general insurance solution best suited to the more modern issues encountered by financial advisers and TPC members.

The new product co-developed by both TPC and Numerisk, Aegis, is designed to tackle both “emerging” and “overlooked” risks in the financial advice industry and offers targeted and comprehensive protection for advisers in a rapidly changing market.

Kon Costas, Managing Director of The Principals’ Community, said the partnership and solution development comes at a time where the case against Dixon Advisory has highlighted weaknesses in current protections for financial advisers that traditional insurance solutions may be unable to cover.

“We are thrilled to partner with Numerisk and introduce Aegis to our members,” he said.

“This new solution represents 18 months of work and is a significant step forward in addressing the evolving risks faced by our profession. Numerisk’s commitment to innovation, challenging the current and their data-driven approach align perfectly with our mission to provide our members with the highest level of support and protection.”

The new solution leverages Numerisk’s expertise in data and artificial intelligence (AI) to generate personalised insights and risk profiles for clients.

“Partnering with TPC allows us to work with some of the highest-quality advice practices in Australia at a significant scale,” Richard Silberman, Managing Director and Founder of Numerisk, said.

“With the support of Kon Costas and the TPC team, we have co-developed Aegis, a solution that will enable TPC members to differentiate themselves in a market segment that has traditionally been difficult to navigate.

“Our investment in data, data management technology, and AI will ensure that Aegis and other companion solutions continue to evolve, helping TPC members achieve the best outcomes in a complex environment.”