MLC and NEOS team up for new retail life insurance offering

NEOS and MLC Life have joined forces for a new retail life insurance offering in response to a number of challenges in the sector.

Set to officially launch on Thursday, 28 April, Encompass Protection has been designed by Australian insurers to tackle issues such as the increasing cost of providing risk advice and reducing numbers of people who can access it.

Using the NEOS platform, financial advisers will be able to offer clients two products – NEOS Protection and Encompass Protection – with access to the same BDM, underwriter and service consultant regardless of the product brand chosen.

NEOS managing director John de Zwart said Encompass Protection is a “critical step” in simplifying life insurance for both advisers and customers.

“Offering Encompass Protection, alongside NEOS Protection, on the one service and technology platform, can improve adviser efficiency and ease of doing business,” Mr de Zwart said.

“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.”

MLC Life Insurance’s chief retail insurance officer, Michael Rogers, added: “We believe passionately in the importance of risk advice and know Australians benefit from receiving it.

“Our goal is to ensure the sustainability of advice through our products and services, and we believe Encompass Protection will help us to achieve this goal.”

Neil Griffiths

Neil is the Deputy Editor of the wealth titles, including ifa and InvestorDaily.

Neil is also the host of the ifa show podcast.