How to Provide Value-Add Benefits for your Customers
Life insurance isn’t what it once was. The landscape is changing and customers no longer want or need a ‘one size fits all’ policy.
Life insurance is a commodity, albeit a vital one; and advisers are now expected to provide value-add benefits to their clients in addition to their policy.
We introduced our MLC On Track program to put our customers in the driving seat. We wanted to encourage them to take the time to prioritise their health and in return reward them with significant cost savings over the life of their policy.
The concept is simple – when a client signs up to insurance with MLC, they can register to be part of the MLC On Track program, where they’re given access to a Garmin Vivosmart HR fitness tracker to monitor their exercise and wellbeing habits. If they meet the specified wellness targets, they’ll receive up to 10% off their insurance premium for the life of their policy.
The program uses technology to encourage customers to improve their health and financial situation – and is truly indicative of the innovation and evolution of life insurance as we know it.
One of the best parts of the MLC On Track program is the opportunity for you to stay connected to your clients by providing them with ongoing support – ensuring they’re provided with that little bit extra that matters – such as tailored communication on their journey to better health and lower insurance premiums.
It’s important to remember, our advisers are the cog keeping the MLC On Track wheel turning smoothly. We want to empower you to not only build relationships with your clients during the MLC On Track process – but to also participate in the program itself. You never know what you may achieve – and change – as a result.
Visit www.mlc.com.au/insurancebenefits for more information on how to offer affordable insurance to your clients.
And of course, visit www.mlc.com.au/personal/important-updates/on-track for further information on the MLC On Track program.
About the Author:
Russell Hannah, General Manager, Retail Advised Insurance Sales, MLC Limited
Russell is a highly respected financial services professional with a reputation for being a forward-thinking industry leader. His career has seen him excel in the areas of relationship, people and stakeholder management with a proven track record for delivering results.
Russell has held a number of specialist insurance distribution roles across State, National & Key Account levels with businesses including Norwich Union / Aviva, ING, BT & MLC.
Russell re-joined MLC in May 2016 to take up the newly created position GM Retail Advised Insurance Sales where he is responsible for overseeing distribution and sales, key account management, specialist insurance functions along with sales analytics and insights. To complement his exhaustive industry experience, Russell also completed a post graduate executive leadership certificate at the University of Melbourne in 2014.
This information, provided by MLC Limited (ACN 000 000 402, AFSL 230694), is intended to provide general information only and has been prepared without taking into account any particular person's objectives, financial situation or needs. Before acting on this information, interested persons should consider the appropriateness of this information having regard to their personal circumstances. MLC on Track is available for customers with new MLC Insurance or MLC Insurance (Super) policies. MLC Insurance is issued by MLC Limited and MLC Insurance (Super) is issued by NULIS Nominees (Australia) Limited (ABN 80 008 515 633 and AFSL 236465), trustee of the MLC Super Fund (ABN 40 022 701 955). Persons who are interested in insurance with MLC should first consider the relevant Product Disclosure Statement (PDS). For a copy of the relevant PDS please visit our website, mlc.com.au, or call us on 133 652.
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