MLC Life reacts to issues with creation of specific life division
MLC Life Insurance has created a specific life insurance division.
The big insurer announced the creation of the division today alongside confirming the appointment of Sean McCormack as chief of the new division, reporting directly to chief executive, Rodney Cook.
It said McCormack would lead the Life Insurance team responsible for the company's group and retail distribution channels, underwriting, operations, pricing, product, brand and marketing units.
The company said that, in addition, McCormack would be responsible for finalising the company’s technology transition program, which includes a new policy administration system as well as new adviser and customer digital portals.
It said the restructure was designed to support the company’s ambition to deliver superior experiences for customers and business partners, underpinned by better digital and automated capabilities, enhanced data and analytics and more sustainable products that better meet community expectations and regulatory obligations.
Commenting on his appointment, McCormack said that he would 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”.
“As a member of the Nippon Life Group of Companies, we benefit from its long-term view which has enabled us to invest in the sustainability of our business and services, including our technology upgrade,” he said. “Frankly speaking, 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.”
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