MLC Life Insurance has revealed the next phase of its $400 million technology transformation, launching a new group insurance digital platform for superannuation funds today.

Named LifeView, the platform will deliver a comprehensive and integrated experience for trustees, administrators and members. Accessible via any device, members will now be able to apply for and increase their cover online, lodge and track the progress of claims, while trustees and administrators will be able to access real time data and analysis of their funds’ claims experience.

Suzanne Smith, Chief Customer Officer of Group Insurance at MLC Life Insurance, believes LifeView puts the business in a great position to challenge the established group insurers in the market.

“We’ve been investing heavily in our technology and systems since separating from NAB last year. We’ve now got a digital capability that gives trustees a genuine point of difference for their members’ insurance needs.

“Everyone is well aware of how frustrating and time consuming it can be to access group insurance, both for those making a claim and for those managing their cover. It can feel like a black hole at times. We wanted to develop a platform that would put members in complete control of their life insurance, and at a time and place that’s convenient to them.

“For trustees, we also wanted to create a platform that would lift the lid on how individual claims and their timeframes are being managed by the life insurer, and whether services arrangements are being met.

“Our goal is to become Australia’s leading and most trusted life insurer, and we want to play a bigger role in the group insurance market. To do that we need to focus on how we can transform the way funds and members engage with life insurance, and to do so in a transparent way. This platform will enable us to do that,” said Ms Smith.

The launch of LifeView follows a number of digital and technology announcements by MLC Life Insurance since separating from NAB in 2016.

Most recently, the life insurer announced partnerships with Pacific Life Re to offer automated underwriting solutions for customers using the UnderwriteMe program. Based on testing to date, it is expected to double straight-through acceptance rates, where members are insured without the need for manual underwriting.

Tim Roso, Head of Digital, MLC Life Insurance, said:

“We’re committed to leapfrogging other life insurance providers in the areas of digital experience and data analytics, ultimately aiming to enhance the experience for all funds and their members.

“We believe LifeView will be a game-changer for us to help bolster our offering in group insurance as we look to provide super funds with more value and better streamlined processes,” continued Mr Roso.

MLC Life Insurance will be commencing the roll-out of LifeView during the remainder of 2017.