MLC Life Insurance streamlines operations

MLC Life Insurance will restructure its operations, consolidating its retail and group distribution channels.

The new life insurance team will be lead by Sean McCormack, who took on the CEO and managing director roles earlier this year. He's been with MLC Life Insurance since 2009.

"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.

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.

"We have adapted and evolved to support the needs of our partners and customers for over 130 years. The rate of change over the last few years has been intense and challenging for all industry participants who believe in the importance of life insurance. We refuse to stand still. Our belief is that by making these decisions now, such as changing our structure, investing in product innovation and technology, we can be confident in our ability to support the needs of our partners and customers in the future."