{"id":12831,"date":"2011-10-17T12:33:42","date_gmt":"2011-10-17T02:33:42","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=12831"},"modified":"2021-04-15T10:19:33","modified_gmt":"2021-04-15T00:19:33","slug":"mlc-unveils-new-insurance-offer","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2011\/10\/17\/mlc-unveils-new-insurance-offer\/","title":{"rendered":"MLC Unveils New Insurance Offer"},"content":{"rendered":"<p>MLC has officially launched its new risk insurance product range, announcing it is targeting a 70% improvement in turnaround times for new insurance business.<\/p>\n<p><!--more-->Called MLC Insurance, the new product suite combines features from Aviva&#8217;s Protection<em>first<\/em> and MLC&#8217;s Personal Protection Portfolio offers.<\/p>\n<p>According to Executive General Manager of Insurance, <strong>Duncan West<\/strong>, enhanced technology is central to the new offer, with MLC redesigning its Risk<em>first<\/em> application engine and Illustrator quotation tool in order to deliver improved turnaround times for new business.<\/p>\n<h6>If you&#8217;ve got something that works, why wouldn&#8217;t you leverage that?<\/h6>\n<p>Risk<em>first<\/em> now includes MyLink, which the insurer says enables advisers to send the Personal Statement via a secure link to the client to complete in their own time.<\/p>\n<p>&#8220;It&#8217;s about giving options,&#8221; explained Mr West.\u00a0 &#8220;No two advisers are the same, and no two clients are the same.\u00a0 There&#8217;s enormous flexibility.&#8221;<\/p>\n<p>In addition to the technology enhancements, MLC has introduced the following new product features:<\/p>\n<ul>\n<li>Child critical illness cover, a child support benefit and child support income benefit<\/li>\n<li>Terminal illness support offered in addition to any terminal illness benefits paid under the client&#8217;s life cover<\/li>\n<li>Accidental death cover<\/li>\n<li>An extra benefits option which will pay a proportion of the critical illness benefit if the client suffers from conditions including congenital abnormalities or complications of pregnancy<\/li>\n<li>Discounts for businesses whereby cover which is held across multiple policies is eligible for the large case discount (calculated as if it were one policy)<\/li>\n<\/ul>\n<p>The group also announced improved service offerings, including:<\/p>\n<ul>\n<li>Doubled reinsurance retention limits, allowing underwriters to make more decisions without referring to the reinsurer<\/li>\n<li>Pay and finalise approach to income protection claims, removing the need for clients to provide monthly paperwork to remain on claim<\/li>\n<li>Enhancements to Best Doctors, including a service which coordinates overseas medical appointments (see: <a href=\"https:\/\/riskinfo.com.au\/news\/2011\/10\/11\/mlc-extends-best-doctors-service\/\" target=\"_self\" rel=\"noopener\">MLC Extends Best Doctors Service<\/a>)<\/li>\n<\/ul>\n<p>Mr West\u00a0said the creation of the offer marked the culmination of MLC&#8217;s journey with Aviva.<\/p>\n<p>&#8220;It has taken about 18 months development time (to bring the offer to market),&#8221; Mr West said.<\/p>\n<p>&#8220;Aviva already had market leading technology, which was one of the attractions for MLC in its acquisition of Aviva.\u00a0 If you&#8217;ve got something that works, why wouldn&#8217;t you leverage that, rather than reinvent the wheel?&#8221;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>MLC has officially launched its new risk insurance product range, announcing it is targeting a 70% improvement in turnaround times for new insurance business.<\/p>\n","protected":false},"author":7,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4,5,7],"tags":[],"class_list":["post-12831","post","type-post","status-publish","format-standard","category-products","category-services","category-technology"],"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/12831","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/comments?post=12831"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/12831\/revisions"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=12831"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=12831"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=12831"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}