New platform launches to support advisers on back of October regulatory changes

MetLife Australia says its new platform enables enables real-time collaboration, greater flexibility, and complete self-service without disrupting an adviser’s ability to quote and apply for life insurance cover on behalf of clients.

As well as this, the life insurer has announced some product changes in line with APRA’s income protection insurance shake-up, which includes a reduction to the maximum amount of pre-disability annual income that can be claimed.

In response, MetLife has introduced a 70 per cent replacement of income and up to $30,000 per month with income tiering and the option to nominate increased cover for the first six months of up to 90 per cent of income.

MetLife will also launch a four-part webinar series in November which will discuss the importance of life insurance and the role that insurers play in both the mental health and wellbeing outcomes for Australians. Speakers include economist Bernard Salt and social researcher Mark McCrindle.

“The financial advice industry has undergone an incredibly tumultuous couple of years, facing significant regulatory change, public scrutiny and evolving customer expectations – all on top of a global pandemic,” MetLife Australia CIO Meray El-Khoury said.

“We want to create certainty for both advisers and their clients in an uncertain time. This is the thread that connects all our recent updates and innovations, from our price guarantee, to the launch of our webinar series and our new digital platform.

“We are focused on providing advisers with easy access to the knowledge and assets they need to thrive now and into the future.”

Neil Griffiths

Neil is the Deputy Editor of the wealth titles, including ifa and InvestorDaily.

Neil is also the host of the ifa show podcast.