ClearView Wealth says it has entered a new growth phase after exiting wealth management to focus on being a life insurer.

Work to transform the business, including installation of a new insurance platform, is delivering results, MD Nadine Gooderick told last week’s annual general meeting.

“The platform has capabilities beyond retail life insurance, including group life, customer-led initiatives and retirement products including annuities,” she said. “We are now at the start of a new phase for ClearView – one that has shifted from transformation to growth, with optionality across product and channel expansion on a modern cloud-based insurance platform at its core.”

She said full migration of ClearView’s in-force portfolios to the platform is on track for the end of the year.

“Unlike incumbent insurers burdened by multiple legacy platforms and products, ClearView’s ambition has been to operate on a single, modern cloud-based technology stack.”  

She said the business has maintained sales momentum in the first quarter of this financial year.

“ClearView’s sustained track record of top-line growth continued ... with premiums up 12%. We are well placed for sustainable growth and improved profitability, driven by our culture of being a successful challenger brand.”