Investment platform providers are responding to adviser demand for more insurers on approved lists.

Netwealth recently announced it is adding Zurich to its list, joining AIA and TAL.

Executive Director Matt Heine says the move gives advisers and clients a choice other platforms cannot match.

“Zurich’s focus on key market segments and commitment to technology made it a natural partner,” he said.

“Our low platform fees, combined with access to multiple insurers, have been a key driver of adviser satisfaction. This new partnership will only further enhance the depth of our offering.”

Advisers recently rated Netwealth the best platform in a survey by Investment Trends.

“It had the largest increase in overall [adviser] satisfaction, taking the top spot among platforms,” Investment Trends Senior Analyst Recep Peker told Life+Health insuranceNEWS.com.au.

“We asked advisers what was their favourite new development on platforms… they wanted more insurers to help them maximise their business.”

About 41% of advisers want life insurance software to be better integrated into platform operating systems.

“With the introduction of lower-cost solutions, advisers now want platform providers to help with online usability for improved business efficiency, better client reporting and review tools,” Mr Peker said.

The Future of Financial Advice reforms have prompted advisers to demand better support from platforms, he says.

Westpac is the largest platform provider by primary planner relationships, with 26%, followed by Commonwealth Bank on 19%.