The COVID-19 crisis has driven many companies to restructure their business – but for MLC Life Insurance a business restructure has been positive, resulting in the birth of a life insurance division.
MLC Life Insurance has created the life insurance division in line with its goal to deliver superior experiences for customers and business partners – underpinned by better digital and automated capabilities, enhanced data and analytics, and products that better meet customer needs and regulatory obligations.
Sean McCormack has taken up the chief life insurance officer role and will lead the newly created division, reporting directly to MLC Life Insurance chief executive officer Rodney Cook. Under the new role, he will be responsible for the company’s group and retail distribution channels, underwriting, operations, pricing, product, brand, and marketing units.
“In response to the fast-changing operating environment for the life insurance industry, exacerbated by the impacts of COVID-19, I will be spearheading changes to our business operations to ensure that we deliver a better partner, customer, and member experience. I am also focussed on ensuring our sustainability,” McCormack said.
“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.
“Our 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,” McCormack concluded.
