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The consolidation will make it easier to choose and market products, an executive says.
Advisors will benefit from Great-West Lifeco’s decision to consolidate its three life insurance companies under the Canada Life brand, according to Hugh Moncrieff, Canada Life’s executive vice-president, advisory network and industry affairs.
“As we simplify our business, we’re going to simplify our advisors’ businesses, whether it’s through easier tools and systems, or enhanced products,” Moncrieff said in an interview.
The brand consolidation would make it easier for the insurer to update its legacy systems, and allow it to invest in and market new products more efficiently, he said.