MetLife doubles down on support for financial advisers

From

Meray El-Khoury

With the most recent MetLife Adviser-Client Relationship Report showing Australians are rediscovering the positive impact of financial advice, MetLife Australia has announced continuing investments in supporting financial advisers, improving their experience and making positive product changes to support clients.

The life insurer has bolstered its support with a bespoke suite of tools, educational resources and product offerings that enable a seamless experience for advisers, to free them up to focus on serving clients and growing their businesses.

These include:

  • A new digital platform that enables real-time collaboration, greater flexibility, and complete self-service for policy administration. The new platform delivers on the 1 October regulatory and product changes, without disrupting an adviser’s ability to quote and apply for life insurance cover on behalf of clients.
  • A series of four webinars for advisers[1], featuring high profile expert speakers, is set to launch on 4 November and is designed to highlight the value of life insurance for advisers and their clients. Speakers include bestselling author and World Para Surfing champion, Sam Bloom, leading economist Bernard Salt, and social researcher Mark McCrindle, covering topics including the non-financial benefits life insurance provides, how increased uptake of life insurance can encourage economic growth, and the important role that life insurers, and the broader financial services industry, play in enabling improved mental health and wellbeing outcomes for Australians.
  • Key product changes that comply with APRA’s regulatory guidelines to enhance the sustainability of Income Protection insurance, including the introduction of a straight 70% replacement of income – up to $30,000 per month without income tiering and the option to nominate increased cover for the first six months of up to 90% of income, then 70% ongoing to age 70. These are in addition to a previously announced three-year rate guarantee for all lump sum products that will provide financial certainty and eliminate premium shocks. These changes have seen MetLife Protect rated more favourably while still representing value for money for clients.

Meray El-Khoury, Chief Insurance Officer at MetLife Australia, said: “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.

“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.”

According to the most recent MetLife Adviser-Client Relationship Report, 42% of people who aren’t currently advised say they are more likely to see a financial adviser now than before COVID-19, and 80% of advised consumers with life insurance feel better about their current financial position as a result of having a financial adviser.

The new initiatives add to MetLife’s existing suite of adviser resources, all of which will be available to advisers as part of the insurer’s refreshed Adviser Resource Centre[2], a one-stop-shop for advisers seeking relevant and easily accessible support. The site will house video and podcast content, as well as workbooks, prep kits and product knowledge tests, so advisers can apply their new-found learnings.

More information on MetLife’s updates and support resources can be found online:

Value of Life Insurance Webinar Series

In search of security: how demographic and social change is creating a market for life insurance with Bernard Salt

Thursday 4 November 2021, 2.00pm-3.00pm AEDT

There’s no denying, coronavirus has altered the way we think and behave.

Join us for this compelling session where Bernard Salt argues that everything is being reassessed and viewed through the prism of security: financial, family, personal. It’s almost as if the pandemic has been our control-alt-delete moment as we reassess where we’re at in life.

Life insurance demographics and the pandemic are all merged in Bernard’s unique take on where we’re at and where we’re headed in the post-Covid 2020s.

Meet Bernard Salt – Bernard Salt is widely regarded as one of Australia’s leading social commentators by business, the media and the broader community. Bernard heads The Demographics Group which provides specialist advice on demographic, consumer and social trends for business. He is one of the most in-demand speakers on the Australian corporate speaking circuit and has been so for more than a decade.

Responding to the trends, engaging with the new consumers with Mark McCrindle

Thursday 11 November 2021, 2:30-3:30pm AEDT

The insurance market is being impacted by a generation delaying asset ownership, a rent-it rather than buy-it mindset, a rising expectation of the role of government and the safety-net syndrome.

In this not to be missed session, Mark will give you an overview of the new segments of households, the expectations of the emerging generations, and how to effectively engage with them.

Expect to gain research-based insights into the emerging customer opportunities, how to communicate in message-saturated times, and how to retain and lead the new generation.

Meet Mark McCrindle – Mark McCrindle is a social researcher with an international following. He is recognised as a leader in tracking emerging issues and researching social trends. As an award-winning social researcher and an engaging public speaker, Mark has appeared across many television networks and other media.

Never, ever give up with Sam Bloom

Thursday 18 November 2021, 2.00pm-3.00pm AEDT

Sam had everything she had always dreamed of, then without warning, the dream turned into a nightmare.

While on a 2013 family holiday in Thailand, Sam fell 6m from a balcony leaving her completely paralysed from the chest down. Broken and hopeless, Sam reached her outer limits of physical and mental suffering. But with courage, determination, and a little help from an unlikely feathered friend, she made her way back from the edge.

Her message – never, ever give up.

In this powerful session, Sam will share her story from the lows of a devastating injury to the highs of competing for Australia and inspiring a Hollywood film.

Meet Sam Bloom – Sam Bloom is a bestselling author, global keynote speaker, 2 x World Para Surfing champion and inspiration behind global hit movie Penguin Bloom.

Prevention is better than cure with Dr Ross Walker

Thursday 25 November 2021, 2.00pm-3.00pm AEDT

Dr Ross Walker is an eminent practicing cardiologist with a passion for people and health.

Considered one of the world’s best keynote speakers and life coaches, Dr Walker will draw on over 35 years of medical experience to explore the current and future health of Australians – and how this may shape the claims landscape and help insurers invest in meaningful return to health strategies for their people.

Meet Dr Ross Walker – Dr Ross Walker is an eminent practicing cardiologist who has authored seven books (all of which have been best-sellers). Dr Walker is also a regular presenter on the Nine Network’s Today Show and A Current Affair and has most recently appeared as the medical expert on Excess Baggage. He also presents on radio stations 2UE, 6PR, 4BC and 3AW.

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[1] https://www.metlife.com.au/campaigns/value-of-life-insurance-series/
[2] https://adviser.metlife.com.au/axelerator

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