MLC Life Insurance has appointed Sean McCormack as Chief Life Insurance Officer of a newly created Life Insurance Division which the insurer says is designed to better meet the needs of customers, advisers and superannuation funds.
Reporting directly to Chief Executive Officer Rodney Cook, McCormack will lead the Life Insurance Team, responsible for the company’s group and retail distribution channels, underwriting, operations, pricing, product, brand and marketing units, the insurer says in a statement.
In addition, he will be responsible for finalising the company’s technology transition program, which includes a new policy administration system as well as new adviser and customer digital portals.
MLC adds that the restructure is designed to support the company’s ambition to deliver superior experiences for customers and business partners, underpinned by better digital and automated capabilities, enhanced data and analytics and more sustainable products that better meet community expectations and regulatory obligations.
McCormack says that in response to the fast-changing operating environment for the life insurance industry, exacerbated by the impacts of Covid-19, he will be spearheading changes to the business operations “to ensure that we deliver a better partner, customer and member experience. I am also focused on ensuring our sustainability”.
He noted that as a member of the Nippon Life Group of Companies, MLC Life benefits from its long-term view which has enabled the company to invest in the sustainability of its business and services, including its technology upgrade.
“Frankly speaking, I recognise that the current service experience we are delivering is not acceptable to our retail partners and customers as we are transitioning to new, legacy-free technology platforms. These changes are a response to those challenges and I am confident that, once overcome, we will provide a superior service experience over time,” he says.
….the company’s ambition is to make it more efficient for advisers to protect their customers by reducing their cost to serve…
McCormack adds that the company’s ambition is to “…make it more efficient for advisers to protect their customers by reducing their cost to serve, make it easier for superannuation funds to manage their members’ insurance needs through real time reporting, and to provide customers with the information they need about their life insurance, all at the touch of a button”.
The statement notes that as part of the restructure, the following roles have been created and filled by the following people:
- Chief Group Insurance Officer – Sean Williamson
- General Manager Underwriting and Operations – Fiona Guscott
- General Manager Product, Pricing and Proposition (Retail) – Angela McLaughlin
- General Manager Product, Pricing and Proposition (Group) – Craig Harrison
- General Manager Retail Distribution Partnerships – Russell Hannah
- General Manager Strategic Partnerships – Michael Oliver
- General Manager Partner and Customer Channel Experience – Tim Roso