Rice Warner had developed the comparators in 2005, as an insurance insights and comparison tool for desktop software providers to the financial advice industry, institutional clients and super funds.
Following a transition period, the tools will be integrated into the Chant West business, along with its existing support and distribution team from Rice Warner.
Ian Fryer, Chant West general manager commented: “This is a logical service extension for many of our clients, several of whom have been asking for the business to provide more insights into retail insurance and group life cover.
“We recognize that insurance is an ever-changing and complex market and the addition of this specialized service will enable our clients to deal with a single supplier for their related research and insights.”
Andrew Boal, chief executive of Rice Warner added the product complemented the existing Chant West service and the firm was best placed to continue to develop the Galaxy tools.
“The Galaxy comparators are client-driven tools and have been built to meet the insurance insights and comparison needs of our diverse client base,” Mr Boal said.
“Given Chant West’s strong relationships with super funds and financial advisers, I have every confidence they’ll continue to deliver on that client-centric mission and we’re committed to working closely with them to ensure a smooth transition for subscribers and staff alike.”
The deal has taken place after Zenith Partners Group bought Chant West in mid-2020. The group has signalled it will continue to explore opportunities for expanding its service offering for clients across wealth management and superannuation.
Sarah Simpkins is a journalist at Momentum Media, reporting primarily on banking, financial services and wealth.
Prior to joining the team in 2018, Sarah worked in trade media and produced stories for a current affairs program on community radio.
You can contact her on [email protected].