About
Integrating real-time health, financial, and banking data for a live client view, Adviser360 Financial Planning enable dynamic and holistic financial plans. Automated policy administration ensures implementation for clients’ long-term success.
Innovation presentation
Discovery’s Adviser360 Financial Planning is a groundbreaking, comprehensive financial planning solution. It revolutionizes the previously siloed traditional financial planning process by integrating the process into a comprehensive practice management platform, enriched by Discovery’s unique comprehensive data assets across health, wellness, and financial data, providing a holistic ‘Client 360’ view.
In today’s complex financial landscape, the need for robust financial advice is critical. This is particularly true in South Africa, where Discovery operates, where significant insurance gaps and retirement savings shortfalls underscore the need for sound advice. Adviser360 empowers specialist advisers to provide holistic, hyper-personalised advice that aligns with their clients’ needs and goals in real-time.
The platform’s ability to amalgamate data resources, generate a comprehensive financial plan, and present it in a simplified, universal manner is unparalleled, while automated updates of underlying information result in a living document enabling continuous financial planning. With the availability of market-leading products across health, investment, insurance, banking, and wellness sectors mapped to meet each part of a given clients’ financial plan, it offers a truly unique solution.
The development involved various departments, including Systems Design and Architects, Distribution for design input, and Usability Analysts.
The platform introduces a streamlined journey resulting in a 50% reduction in time spent for policy administration, zero errors when using the journey, and increased client engagement in their financial planning. It is anticipated that through the automated updates, clients will be able to address shortfalls in their financial plans as they arise, resulting in improved outcomes over clients’ lifetimes.
Uniqueness of the project
In an era where competitors offer online platforms, competitive products, and data-enhanced financial planning processes, Discovery stands apart with its comprehensive practice management system. This system is not just an amalgamation of parts, but a synergistic entity that is greater than the sum of its components.
At the heart of this system is a client-centric approach that empowers clients through improved knowledge and financial advice. The system offers a holistic view of the client’s financial needs, pre-populated with information from the embedded Client Relationship Management feature. This feature serves as a single source of truth, storing a comprehensive real-time data repository for clients across the board.
This data enables advanced analytics to provide hyper-personalised insights and client-friendly benefit visualisations within a simply understood and dynamic long-term financial plan. The process is further enhanced by a quick underwriting process and streamlined compliance, all powered by the comprehensive data unique to Discovery. This approach is revolutionary in the financial services industry, making doing business easier for financial advisors while empowering clients.
Leveraging three decades of experience and thought leadership, this innovation completes the future of financial planning. It ensures that clients receive the best advice in a manner that is easily implemented and well understood by the clients themselves. This aligns with Discovery’s core purpose - to make people healthier, and to enhance and protect their lives. This client-centric approach is not just about providing a service, but about empowering clients to take control of their financial futures.
