MLC offers adviser incentive for digital platform

From 5 November 2018 to 11.59pm on 5 May 2019, customers whose applications are submitted with policies issued during the reward period will receive a premium discount for two years – 10 per cent for the first policy year and 5 per cent discount for the second year, according to a statement.

The discount will apply to new MLC customers whose advisers use the platform to lodge their application.

MLC Life Insurance chief underwriter Mick Jones said there are still some advisers who are reluctant to take the first step and use the new technology.

Further, he said the platform “supports a more engaging application process between the adviser and the customer”.

“In addition, as the administrative burden on advisers grows, it is important that we find ways to support them and reduce the cost of advice,” Mr Jones said.