NEOS and MLC Life Insurance have released their Encompass Protection retail life insurance offering designed in response to the increasing cost of providing risk advice.
Financial advisers could now offer their clients two different products, NEOS Protection and Encompass Protection, using the NEOS platform which gives access to the same dedicated business development manager, underwriter and service consultant regardless of the product brand chosen.
NEOS managing director, John de Zwart, said: “We came to market with a vision to simplify life insurance for customers and advisers, and we believe this is critical step on that journey.
“Offering Encompass Protection, alongside NEOS Protection, on the one service and technology platform, can improve adviser efficiency and ease of doing business. We’re passionate about trying to make risk advice easier, providing advisers with a range of high-quality products on a single, easy-to-use platform that advisers are familiar and comfortable with.”
Michael Rogers, chief retail insurance officer, MLC Life Insurance, said: “We’re excited to be going ‘live’ in just a few days. I want to thank the team at NEOS for their support and expertise in bringing this offer to market.
“We believe passionately in the importance of risk advice and know Australians benefit from receiving it. Our goal is to ensure the sustainability of advice through our products and services, and we believe Encompass Protection will help us to achieve this goal.”
The service would go live on Thursday 28 April.