MetLife and the Australian Institute of Superannuation Trustees (AIST) have announced a two-year partnership, that will see the insurer become a principal partner of the peak body for Australia’s $1.6 trillion profit-to-member superannuation sector.
A statement from the two organisations says MetLife will become the exclusive life insurance partner for AIST.
It says that together the two organisations will promote the value of life insurance and the role insurance inside super plays in securing a confident financial future for Australian consumers, while enabling MetLife to support AIST’s leading profit-to-member trustees and superannuation funds.
The statement says the two-year partnership will “…draw on the unique research, insights and expertise of MetLife and AIST to co-create a range of bespoke events designed to educate the industry on the role life insurance plays in helping members engage with their superannuation.”
MetLife will also feature as the exclusive life insurance partner at AIST’s major events throughout 2022 and 2023.
The statement notes that AIST advocates for financial wellbeing in retirement for all Australians, regardless of their gender, culture, education or socio-economic background “…and through leadership and excellence, supports profit-to-member funds to achieve member-first outcomes and fairness across the retirement system.”
Richard Nunn, MetLife CEO, says: “We see a strong alignment of values between our two organisations and our new partnership will allow us to connect with even more industry and profit-to-member funds, which are already a core part of our business.
“Together we will be advocating for insurance inside super, which is such an important part of our superannuation system, providing financial protection for people throughout their lives.”
He adds MetLife is excited to partner with AIST to build on the work both organisations have been doing to support superannuation trustees, funds and members.
Building a Greater Understanding of the Role of Life Insurance
Eva Scheerlinck, AIST CEO, says this new partnership with MetLife “…will be a great opportunity for us to further support our members by engaging more with, and building a greater understanding of the role of, life insurance.
She says the workforce continues to undergo significant change and insurance in super needs to keep pace with these changes.
“Insurance in super is a lifeline for so many, who find themselves in life changing situations, and we are proud to be partnering with MetLife to ensure that insurance products and services continue to be fit for purpose and deliver great value for super fund members.”
AIST’s members and subscribers are the trustee directors, employees and associates of profit-to-member industry, corporate and government superannuation funds.
