MLC Life Insurance has announced the creation of a new role aimed at helping advisers better understand changing consumer needs and building long-term customer relationships.
MLC Life Insurance said in a statement it has hired four business engagement managers (BEMs) for its retail advised division from 1 May.
The role aims to provide advisers more support with customer retention, while allowing them to focus more on increasing MLC Life Insurance’s active and repeat adviser numbers, the firm said.
The BEMs will be tasked with providing advisers with the training, tools, insights and processes to embed best practice customer engagement in their businesses.
In addition, they will work with selected adviser practices that have identified the need for the engagement program, with the relationship arranged for a finite time period up to a maximum of 12 months.
MLC Life Insurance chief customer officer of retail advised insurance Melissa Heyhoe said the new roles will allow advisers to maintain ongoing engagement with their customers, leading to improved retention and greater business revenue.
“The approach to addressing customer retention has traditionally been reactive,” Ms Heyhoe said.
“By the time advisers have had conversations with their clients about changing or cancelling policies, the horse has often bolted and there have been missed opportunities with their clients.
“Our new business engagement managers will provide advisers with the resources to engage with clients earlier in the relationship, to ultimately help clients maintain the security and protection of life insurance in line with their individual needs.”
Resolution Life Australasia severs ties with AMP.
AMP and TAA have sought an increase in the cap on life insurance commissions for financial advisers.
The government has announced a post-implementation review of the removal of the stamping fee exemption.
Get the latest news! Subscribe to the ifa bulletin
Get notifications in real time and stay up to date with content that matters to you.