MLC has come out with a new insurance product, aptly named MLC Insurance, which marks the culmination of the company’s integration with Aviva.
MLC claims the new product will provide a 70 per cent improvement in turnaround times for new insurance business and at least 20 per cent of online applications are expected to be approved immediately.
Executive general manager at MLC Insurance, Duncan West said the new offer was made to meet the needs of risk advisers.
"MLC Insurance and MLC Insurance (Super) offer a wide range of insurances designed to provide flexibility for clients and advisers; these are packaged within one policy solution, with options inside and outside of superannuation and no restrictions on combinations of premium or remuneration structures," West said.
The company had also come out with a number of new features, including the Illustrator – a desktop insurance quoting tool which allows advisers to generate a quote for clients offline – and Riskfirst, which allows advisers to create and submit new insurance business online.
The new features also include MyLink, which enables advisers to send clients a secure link via email to complete their personal details statement.
