Freedom Insurance Group (FIG)
Freedom Insurance Group is an insurance business that specialises in the development, distribution and administration of risk life insurance products.
Insurance cover is distributed through the Freedom Insurance and Spectrum Wealth Advisers (“Spectrum”) brands. Freedom Insurance offers a range of simple insurance solutions direct to consumers through its call centre usually on a no advice basis. Spectrum offers more complex insurance solutions with a range of fully underwritten products. These are offered through an extensive network of financial advisers who can provide customers with both general and personal advice as required.
Freedom Insurance Group is the owner of the Freedom Insurance and Spectrum Wealth Advisers brands.
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- Freedom commenced distributing life insurance in October 2010
- The initial product was developed by Freedom and issued by AIA
- AIA handled administration with Freedom performing all customer service functions, including claims administration
- Ongoing investment in marketing, lead generation, training and compliance resulted in sales growing to $1m New Business Annual Premium Income per month.
- A revised product range, issued by NobleOak, was launched in April 2014.
- Freedom invested further in its infrastructure and operations in order to undertake its own policy administration services for Freedom products
- Freedom acquired Spectrum Wealth Advisers enhancing its distribution reach and providing significant new growth opportunities
- Sales grew to $2m New Business Annual Premium Income per month
- Successful integration of Spectrum & accelerated growth in adviser numbers
- Growth in sales to $4m New Business Annual Premium Income per month
- List on Australian Stock Exchange