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Freedom Insurance Group (FIG)

Freedom Insurance Group is the owner of the Freedom Insurance ("Freedom") and Spectrum Wealth Advisers ("Spectrum") brands.

Until September, 2018 Freedom offered a range of simple insurance solutions direct to consumers through its call centre, usually on a no advice basis. Currently, Freedom is not offering insurance products to new customers and is in the process of transitioning administration services for existing customers to new service providers.

Spectrum offered more complex insurance solutions with a range of fully underwritten products. From June 2019, Spectrum will no longer provide financial services through its adviser network.

History

Click on the dates below to find out more

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2009
  • Keith Cohen (Founder and current Managing Director) established Freedom Insurance (“Freedom”) in late 2009
2010
  • 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
2010 to 2014
  • Ongoing investment in marketing, lead generation, training and compliance resulted in sales growing to $1m New Business Annual Premium Income per month
2014
  • A revised product range, issued by NobleOak was launched in April 2014
  • Freedom invested further in its infrastructure and operations in order to undertaken its own policy administration services for Freedom products
2015
  • 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
2016
  • Successful integration of Spectrum & accelerated growth in adviser numbers
  • Sales grew to $4m New Business Annual Premium Income per month
  • Listed on Australian Stock Exchange (ASX:FIG)
2017
  • Transition to new Insurer (Swiss Re) and launch of the new Freedom Protection Plan
  • Launch of Freedom Loan Protection
  • Launch of Freedom Premium Life & Essential Life
  • Sales grew to $4.8m New Business Annual Premium Income per month
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