MLC Life Insurance has announced changes to its MLC On Track program, aimed at encouraging healthier behaviours among clients.
The MLC On Track program, first launched in Australia in 2015, makes use of fitness tracking software to adjust insurance premiums based on exercise targets.
The updated version of the program will allow customers to use their own wearable devices (such as fitness trackers or smartwatches) to measure their level of physical activity, with the company noting “more than half of Australians” already use one of these devices.
The right fitness brand is a personal choice and different for every customer, said MLC Life Insurance chief customer officer for retail advised insurance Melissa Heyhoe.
“The focus of the program is good health and wellbeing, which influences not just how we feel, but how we go about our everyday lives. We’ve now made it easier for customers to join and be successful in the program that they now have every incentive to,” she said.
Ms Heyhoe added that the data collected from the program will also help inform the way MLC Life Insurance invests in digital capabilities and personalises their insurance offerings.
SUBSCRIBE TO THE IFA DAILY BULLETIN
- 17 Aug 2018Grandfathering is not in consumers' interests: KellBy Tim Stewart
- 17 Aug 2018Advisers can ‘professionalise’ clients’ philanthropyBy Lucy Dean and Killian Plastow
- 17 Aug 2018Standalone robo-advisers ‘will not attract’ HNW investorsBy Reporter
- 17 Aug 2018Assess super on value not fees, Rice Warner urgesBy Killian Plastow
- 16 Aug 2018ANZ taken to task over ‘misleading’ general adviceBy Reporter
- 16 Aug 2018Faith in adviser ethics fallsBy Reporter
- view all