23 November 2018
MLC Life Insurance has done it again, going ‘back-to-back-to-back-to-back’ after being named ‘Risk Company of the Year’ at the annual Money Management / DEXX&R Adviser Choice Risk Awards.
Now in its 15th year, the highly acclaimed awards are judged using a combination of feedback from advisers and independent research to recognise excellence in the life insurance industry. They are based on an assessment of each product’s benefits, features, definitions and premiums.
In addition to being named ‘Risk Company of the Year’, MLC Life Insurance also won awards for the following individual product categories:
* Trauma Product of the Year
* Business Overheads Product of the Year
* Inside Super Individual (Guaranteed Renewable) Term & TPD Product of the Year
Sean McCormack, Chief Retail Insurance Officer, MLC Life Insurance says the award wins show that MLC Life Insurance’s support for advisers and the advice channel is being well-received by advisers.
“We believe in the value of advice, and believe Australians are better off when they have access to good financial advice. To support advisers, we have a responsibility to offer affordable products that are fit for purpose, as well as to invest in adviser efficiency initiatives to remove some of the barriers to writing insurance.
“In April this year, we launched a new digital underwriting platform to transform the underwriting process. Customers can now receive an indicative underwriting decision in as little as five minutes, resulting in greater underwriting certainty for the implementation of advice. Since the launch, we have tripled the number of immediate decisions we give at the point of sale. We’d like to thank advisers for recognising these efforts and voting for us.”
MLC Life Insurance’s underwriting platform is a key pillar of MLC Life Insurance’s $400 million transformation program, which is focused on delivering the most advanced digital infrastructure in the industry to better serve customers and advisers.