Insurance company Stanbury Life Limited has reduced its annual administrative fees from 0.35% to 0.30%, effective 1 November, through the assistance of artificial intelligence (AI).
The company says reducing the costs will deliver meaningful savings to investors while also enhancing operational efficiency.
The company, formerly Trustco Life Limited, also says investors will have lower administrative fees, enabling more capital to remain invested and retained by clients instead of being diverted towards administrative costs.
The move is part of Stanbury Life’s broader strategy to optimise investment performance and strengthen client trust.
Trustco Group insurance chief executive Annette Brand says the move is a demonstration of Stanbury Life’s commitment to maximise client value and improve long-term investment returns through innovation.
“This is a classic case of working smarter, not harder. By integrating AI into our operations, we have achieved efficiencies that allow us to pass savings directly to our clients, where they belong,” she says.
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