NEOS and MLC Life Insurance are excited to announce a new partnership between their two organisations to bring a new insurance option to Australians.

Called Encompass Protection, and sold through financial advisers on the NEOS insurance platform, the offer combines the market leading service and administration excellence of NEOS with the financial strength and claims management expertise of MLC Life Insurance.

Encompass Protection will officially launch in Australia in the coming months.

The ongoing pace of change in the life insurance industry, including the increasing cost of providing risk advice and changing consumer needs, means that life insurers must adapt and look at newer and more innovative ways to provide cover to Australians.

NEOS Managing Director, John de Zwart, said:

“NEOS and MLC Life Insurance are ideal partners to deliver sustainable, affordable and quality life insurance to Australians. NEOS came to market with a vision to simplify life insurance for customers and advisers, and we believe this is an important, exciting step on that journey. Offering Encompass Protection, alongside NEOS Protection, on the one service and technology platform, can improve adviser efficiency and ease of doing business.

“We’re excited to partner with MLC Life Insurance. We’re passionate about trying to make risk advice easier, providing advisers with a range of high-quality products on a single, easy-to-use platform that advisers are familiar and comfortable with.”

Michael Rogers, Chief Life Insurance Officer, MLC Life Insurance, said:

“At MLC Life Insurance, we believe in the importance of risk advice and improving the sustainability of our industry and helping ensure Australians from all walks of life can access quality life insurance products. Our partnership will help deliver this goal.

“While we continue to manufacture and distribute our own protection products and services to Australians, we’re excited to partner with NEOS to bring this new insurance offering to the market.”