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<\/a>The insurer adds that as a result of other changes, it has also \u201csignificantly reshaped\u201d its premium rates which reduce the cost of life insurance across a broad range of demographics and that this will allow more Australians to get adequate protection at an affordable price.<\/p>\n
MD and CEO, Sean McCormack<\/strong> says this represents a significant shift in the company\u2019s focus as an insurer towards providing protection for more everyday Australians.<\/p>\n \u201cAs a digital first insurer we have both the capability and modern customer experience that is aligned with what these everyday Australians expect and need in our changing and evolving world,\u201d he says.<\/p>\n …Life insurance can\u2019t remain analog in the digital age…<\/p><\/blockquote>\n \u201cLife insurance can\u2019t remain analog in the digital age, and this is a further step to help provide protection for more Australians,” he states.<\/p>\n \u201cThis combined with our laser-like focus on operational efficiency for our partners, means we have a compelling proposition to take to mainstream Australia and deliver meaningful benefits to them by being insured with a modern, contemporary insurer.\u201d<\/p>\n GM of Sales, Marketing, CX and Product, Russell Hannah<\/strong> says the insurer believes that clients should be able to pay by the month at no extra cost.<\/p>\n “The long-standing industry practice of charging a loading for monthly insurance premiums just doesn\u2019t stack up anymore. It imposes an unnecessary cost on policyholders at a time when affordability is such a critically important consideration for most everyday Australians.”<\/p>\n Archaic industry practices<\/strong><\/p>\n “We believe it\u2019s time that we move on from such archaic industry practices and open our industry up to more customers who need the peace of mind of being adequately protected,\u201d Hannah adds.<\/p>\n The statement says that Integrity has significantly reshaped pricing in key demographics it says represents mainstream Australia, \u201ca segment that has often been overlooked.\u201d<\/p>\n It says these Australians need good quality, holistic advice matched by affordable insurance packages and solutions.<\/p>\n Hannah outlined the new focus for Integrity.<\/p>\n \u201cWhen advisers go to their risk research platforms, they\u2019re going to see we\u2019re positioned for packages of Lump Sum cover combined with Income Insurance for clients aged 30-50, in white and light-blue occupations in particular.<\/p>\n …we strongly believe these shorter-term benefit periods are the future for this type of cover…<\/p><\/blockquote>\n \u201cWhat they will also see is we have made two-and five-year Income Insurance benefit periods more attractive as we strongly believe these shorter-term benefit periods are the future for this type of cover.”<\/p>\n Hannah says that based on Integrity\u2019s research, approximately 40 percent of working Australians are in this demographic, …”making them a critical part of our economic viability as a nation.”<\/p>\n \u201cTherefore, we want to make sure they are adequately protected at an affordable price.\u201d<\/p>\n He says the company has also worked hard to invest in its digital application process \u201c… so that advisers can service these clients in a way that still remains profitable for them and their business.\u201d<\/p>\n<\/a>