What Risk Toolkit does and how to use it, so you can see how it fits your process and get the most from each tool. Step by step prompts are also built into the app, so the right help is there as you go.

What Risk Toolkit is

Risk Toolkit is a growing suite of tools for life and risk advisers, from Risk Hub. It is modular: you choose the tools that suit the way you work, and your plan sets how many you use. Client records come with every plan. We keep adding tools, and a substantial new tool may be included in the plans or priced separately. The aim is simple: a smoother, more consistent way to deliver risk advice, with a clearer experience for your clients.

Risk Toolkit supports your advice process. It is not financial advice, and it does not replace your assessment, recommendations, or compliance obligations.

Getting started

Choose a plan. Plans are priced by the number of tools you use, per practice:

Prices include GST, and a yearly plan is two months free. You pick which tools once you are in, and you can change them whenever you like. Have a partner or member discount code, or a trial offer from a business development manager, insurer or licensee? Enter the code at checkout.

Logging in. Sign in with your email and password. Where multi-factor authentication is enabled, you confirm with a one-time code each time.

Your practice. Everything you do sits inside your practice account. Branding, settings, and client data are shared across your practice users.

Set up your branding. In Settings, add your practice logo and details (ABN, AFSL, licensee, contact). These appear on client communications and document outputs, so client-facing material looks like it comes from you.

Add your team. A practice owner can invite other users in Settings, Team. Each invitee gets a secure email link to set their own password, then logs in with their own credentials. Every plan includes the practice owner plus five more users; if you need more, get in touch.

Choosing your tools

Settings, Subscriptions shows your plan, how many tools it covers, and which are switched on.

• To choose: tick the tools you want and click Save tools.
• To swap: untick one and tick another, then save. It changes in one step, so you are never left with nothing switched on.
• To add rather than swap: move to a larger plan. An upgrade takes effect straight away.

Switching a tool off never deletes anything. The work you have done stays exactly where it is, the tool’s screens lock, and everything comes back as it was if you switch it on again. Two things worth knowing:

• Campaign links stop working when Fact find is switched off, so anyone who follows an old link is told to ask you for a new one.
• A fact find already sent to a named client keeps working for 30 days, so nobody is left stranded halfway through a form.

Settings for a tool that is switched off stay visible but cannot be changed. Your house view assumptions and email wording are kept and used again the moment the tool is back on.

Client records

Client records come with every plan and never use up a tool.

• Add a client by hand, or let a fact find create one.
• Their details, documents and history live on the client page.
• Extract from documents: paste or upload a statement of insurance, an existing fact find or an email, and the details are filled in for you to check. Every extracted value is shown for you to confirm against the source.
• You can rename a client record at any time, for example to “George and Nancy”, without changing the names on their profile.

Fact find

Collect client information securely, without the back and forth. Your clients see it as their Client Profile.

Sending a request.

• Choose the client, or create one.
• Pick the type: a blank profile for a new client to complete, or a review of details you already hold.
• Send the secure, expiring link by email, or enter the details yourself.
• Or use a campaign link: one reusable link, many submissions, each creating a new client. You can rename or delete a campaign link at any time from the Fact finds page.

The client experience.

• The client opens a secure, expiring link. For a review, they confirm their date of birth first.
• They complete the relevant sections: personal details, employment and finances, family, existing insurance and superannuation.
• A tiered health pre-screen lets them share as little or as much as needed.
• They can upload supporting documents, keeping everything in one place.
• They review and confirm their details, and a timestamped confirmation record is saved to the file.

Reviewing what comes back. Open the client to see what they submitted, including any changes they made on a review, and the confirmation record for your file.

Tip. Use a review request when you already hold details and just want the client to check and update them. It is faster for them and keeps your records current.

Needs analysis

A structured insurance needs analysis to support your client conversations. Outputs are indicative, depend on the inputs, and should always be read alongside your professional judgement.

Client info. Single or joint modelling. Enter names, initials, or placeholders; client names are not required for the calculation.

Assets and liabilities. For each item, choose how it is treated:

• Cleared: paid off by insurance, so it adds to the cover needed.
• Converted to cash: used to reduce the cover needed.
• Retained: left out of the calculation.

Insurance and superannuation. Record existing cover and super balances, and mark each as:

• Replaced: does not offset the need.
• Retained: offsets the need.

For a superannuation balance set to Retained, you can also choose whether it offsets Life cover, TPD cover, or both. This is useful where a balance should reduce one need but not the other.

Income needs.

• Partner income requirement, as a percentage of income or a fixed amount.
• A per child allowance to a chosen age.
• A target age for how long the income stream should last.
• TPD structuring, as a top up or a full replacement approach.
• A TPD tax allowance, which grosses up the TPD cover to allow for tax on a benefit paid from superannuation before age 60. The tool shows a live, age based estimate that you can apply for the client and, where relevant, the partner.

Calculations and summary. Figures update live, with a clear breakdown of required cover, existing cover, and any shortfall across Life, TPD, Trauma, and Income Protection.

Confirming cover and variances. You can confirm the cover you will recommend and record a variance from the calculated need, with a reason. These notes carry through to your reports.

Reports and outputs.

• On screen reports in summary, detailed, classic, and combined styles.
• Export to PDF, or to CSV for your records.
• Reports carry your branding and the relevant assumptions and disclaimers.

A note on method. The needs analysis models the present value of future income using monthly compounding and sensible net earnings and inflation assumptions. Figures are a guide for the conversation, not a quote or a recommendation, and are designed to support your professional judgement, not replace it.

LifeRisk Online

Product research and live insurer quotes inside Risk Toolkit, at no extra charge on any plan. It does not use up one of your tools.

It runs on your own LifeRisk Online subscription, which you hold and pay for directly, so it is switched on at your request: open LifeRisk Online from the menu and send the request, and we will turn it on for your practice. You then connect your LifeRisk Online login in Settings.

Once connected you can run a quote from a client you have already built, see the product research scores that come with the quote, and produce a summary report comparing premiums and research across the products quoted.

More tools coming

Risk Assessor and an engagement pack of smaller tools for clients and referral sources are on the way. Each will count as one tool within your plan, and the 3 tools and All-in plans open up as those tools arrive.

We build alongside advisers, so tell us what would make the biggest difference to your process.

How it helps your practice

• A smoother, more consistent process from first contact to advice.
• Client ready records you can rely on for your file.
• A clear, simple experience for your clients.
• White labelled to your practice, so client communication looks like it comes from you.

Account, plan and users

• Your plan covers a number of tools, billed monthly or yearly, and you choose which tools.
• Change plan, payment details, or cancel from Settings, Subscriptions.
• A practice owner manages users in Settings, Team. Every plan includes the owner plus five more users. Need more seats? Get in touch.
• If a card payment fails, your practice keeps working for about a month while it is retried, and the practice owner sees a reminder in the app.
• If you cancel, access continues to the end of the period you have paid for, and your client records stay available to view and export for 90 days afterwards.
• For billing questions, promotion codes, or a bespoke arrangement, contact us.

Privacy and data

Your client and adviser data is stored and processed in Australia, encrypted in transit and at rest, with extra protection for sensitive fields. For the full detail, see the Risk Toolkit Terms and Privacy page.

Getting help

Step by step guidance is built into the app where you need it. For anything else, contact us at info@riskhub.com.au.