Russell Hannah

Integrity Life has formally announced the appointment of Russell Hannah as the General Manager (GM), Distribution and Marketing. Russell joins Integrity from MLC Life where he served as the GM of Retail Distribution Partnerships for the past five years. Prior to that he has held a number of senior roles across the industry including with well-known insurers such as BT Life, AVIVA & ING

Sean McCormack, Managing Director and CEO said: “I’m excited to welcome someone of Russell’s industry pedigree and standing to fill this critical role at Integrity. Russell brings with him more than 20 years’ experience across life insurance and has a deep understanding of the importance of partnerships.  In addition to this, he is a thought-leader and champion for change with a genuine passion for protecting customers along with strengthening and evolving all aspects of our industry. I am delighted he has elected to join Integrity as he is an outstanding addition to the business.”

Commenting on his new role, Russell said: “Integrity is an organisation that is changing the insurance sector for the better. They are focussed on partnering with advisers, licensees, brokers and corporate clients with a contemporary and truly customer centric proposition. They also understand the importance of service excellence and creating operational efficiencies for their partners and customers alike. I’m really excited to play a key role in driving this next phase of growth and looking forward to joining the team in early June.”

Russell’s appointment comes off the back of the recent announcement of Sean McCormack as the new Managing Director and CEO.

William Rogers

Integrity Life has announced the biggest update to its product offering since launch, with the release of many additional benefits, a new multi-cover discount, and all without any increase in pricing.

From today, all lump sum covers will now include Integrity’s unique Care Support Package at no additional cost. If clients are unable to work because of sickness, injury, or terminal illness, the Care Support Package provides for the things they don’t want to be without – family, a comfortable environment, mental health support and more. Benefits include reimbursement on accommodation so immediate family members can be with them, home care so they can be where they choose, grief support for them and their immediate family members, plus, a unique terminal illness benefit if they require palliative care, so they can choose where (and how) to spend their final days.

Across all covers within Integrity’s Here for You, a Professional Services benefit (up to $3K lump sum reimbursement) is now available, for an Adviser, Accountant or Lawyer to prepare a financial plan or other documentation. Plus, where the Policy has been underwritten for a business purpose, the client has the ability to increase cover for Business Events (the lesser of 30% of the initial cover amount or $500k per increase, up to $3m over the life of the policy). Available where the client is the key person in their business (such as an owner, partner or shareholder).

In additional to expanding the eligibility for Life+ (their healthy living discount), Integrity has also added a new 7.5% multi-cover discount for clients who combine Income Insurance and at least one lump sum cover.

William Rogers, Head of Retail Product, says the changes are about enhancing our products so they provide even more value for clients.

“Central to Integrity’s philosophy is listening to what Advisers and their clients want, and then actually doing something about it – so we’re thrilled to be releasing a bundle of changes that our Advisers have asked us for. The changes will make us even more competitive, even better value, and because of our sustainable pricing approach, there will be no increase to premiums as a result of these changes. I would say it’s a massive win all-round.”

Sean joins Integrity from MLC Life, where he has spent the past 11 years, most recently as their Chief of Life Insurance. He is exceptionally well regarded in the industry with experience that spans the full lifecycle and value chain of the life insurance market.

He has a strong belief in the benefit of life insurance advice and the importance of partnerships.

He has a specific interest in enabling life insurance advice through technology which make him uniquely suited to Integrity, a life insurer that has recognised the benefits of a digital offering when providing a more transparent and Adviser-focused experience.

Chairman Eric Dodd said of the appointment, “This has been a key hire for us and we are delighted that someone of Sean’s calibre and experience will be joining the team.

He has an exceptional track record and is incredibly well regarded by industry participants, across the spectrum of super funds, corporate clients, licensees, advisers and their various associations, as well as our regulators.

His joining Integrity should serve as further confirmation to the market that we have the right strategy and a first class team to deliver it.

I want to use this opportunity to sincerely thank Lesley Mamelok, personally and on behalf of the Board, for her leadership whilst in the role of Acting CEO.”

Lesley will revert back to her CFO role when Sean joins on 22 March 2021

The majority of the capital has come from institutional funds managed by Schroder Investment Management (Switzerland) AG, a member of the Schroders group (“Schroders”), with support from existing institutional shareholders Leadenhall Capital Partners and Daido Life, and smaller parcels coming from Australian and International sophisticated investors. The money will be used to support the expansion of operations and continued development of their digital-led insurance offering.

Chairman Eric Dodd, said of the investment “We’re thrilled to have the confidence and backing of Schroders, who have recognised that our approach to Life Insurance in Australia is changing the game. Our ethos of ‘digital when you want it, human when you need it’ allows us to marry the convenience of technology with an empathetic approach that guides everything we do. In an industry that is crying out for innovation, we’re excited that this injection will enable us to bring more Australian firsts and step-change improvements to both the financial adviser and customer experience”.

Scott Mitchell, Portfolio Manager for Life Insurance Linked Securities at Schroders said, “We are excited to support Integrity Life in its next phase of growth as it continues to strengthen its position in the Australian life market. The investment provides Schroders’ investors with a rare opportunity to support a digital-focused business that provides access to diversifying life insurance risks, such as mortality, critical illness and disability.”

In 2019, Integrity Life became the first Life Insurer to win an Australian Good Design Award, for the innovative experience their Adviser Portal provides.  The start-up, that opened their doors in mid 2018, now protects more than 60,000 customers across both their Group and Retail books. They continue to win design and customer experience awards as well as being named by LinkedIn as one of Australia’s top start-ups to work for. Eric Dodd continues “we are on a growth trajectory, despite the backdrop of COVID-19 and a possible global recession, our low-cost operating model and flexible technology systems give us a significant advantage to adapt and pivot to keep pace with change. We are very excited about the future and what we’ll be bringing to market”.

Chris Powell

Australian life insurer, Integrity Life (Integrity) has warned the high cost of living in the latest CPI data, which, recorded an overall year on year increase from December 2018 – December 2019, may have particularly harmful consequences for underinsured Australians.

The rising cost of living is disproportionately driven by the costs of the most important, life impacting areas such as health. While purchases of luxuries such as international travel, entertainment and clothes have actually become cheaper, health costs have increased by close to 200 per cent since 2000.

At the same time, the rising cost of living means Australians are more likely to forego emergency protection products such as life and health insurance.

Integrity Life MD Chris Powell said: “The latest CPI data shows Australians are facing higher health bills. But the overall rising cost of living means they are less likely to have the very products, such as life or health insurance, that can help pay those bills. The potential impact could really set people back, which is why we’re urging Australians to check whether they are adequately insured.”

Australia’s rate of underinsurance is already high. Integrity research^[1] show 45 per cent of Australians believe they don’t have life insurance in place to meet the often enormous costs of a disaster such as a funeral or medical care, or to support the cost of living.

Youth and super option make life insurance more affordable

“Australians must understand how important life insurance can be in minimising their rising, potentially massive out-of-pocket expenses” said Chris.

According to Deloitte research[2], “life priorities for millennials and Gen Z include building their career, buying their own home, and starting a family. Life insurance provides security for these important elements of life, if the worst happens” said Chris.

Younger Australians and those around the peak of their career can take advantage of significantly lower premiums for life and total and permanent disability (TPD) insurance. For a 40-year-old man, finder.com.au research shows that, based on entry-level premiums, life insurance for $200,000 costs about $4.41 per week, but more than doubles to $10.65 at age 50 and rockets to $31.14 at 60. Women pay significantly less, with the average 40-year-old paying $2.81 per week. Even a 60-year-old woman pays just $16.30 per week, just over half that of the equivalent man.^[3]

The majority of Australians also have some life and TPD insurance provided through their superannuation. “All Australians should remember they can pay for life insurance within your superannuation. Most of us are granted an automatic level of cover when we open a superannuation account, and this can be an effective way to pay for cover,” said Chris.

“However, changes to insurance inside super in 2019 mean that some people may have had their insurance removed. If you rely on insurance inside super, check your cover or contact your super fund to make sure you have an adequate level of cover to meet your needs. You should also think about speaking to a professional risk adviser”.

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Chris Powell

Australian life insurer, Integrity Life (Integrity) this week launched a lifetime discount offer, a move that it says strongly aligns with the best interests of advisers and consumers. Integrity has announced an 8% discount for the lifetime of a policy across its lump sum products (Life, Critical Illness and TPD). A move it says is designed to ensure sustainable pricing for its life insurance products.

Commenting on the offer, Integrity Life MD Chris Powell said, “The financial services Royal Commission highlighted that the customer’s interests must come first, and products must be appropriate to their needs. This simple principle is something that businesses such as ours are seeking to address, and to play a valuable role in the evolution of our industry towards this mindset.

He continued, “As an insurer with a completely blank canvas, we are in the fortunate position of being able to play a role in building a more sustainable life insurance industry. When thinking about the best way to price our products, we made the deliberate decision to ensure they are all priced individually and sustainably. We believe this transparency in pricing will help advisers build trust and loyalty with their clients.”

The decision to only provide discounts on lump sum products is aligned with regulator and industry concerns about the sustainability of Income Protection (IP).

Chris added, “Current discounts, particularly upfront short-term discounts on IP, are unsustainable and are contributing to ongoing losses among insurers. Because of the importance of IP as a lead component of ‘packages’ it is always tempting to price it as a ‘loss leader’. However, pricing in this way does not align with Integrity’s philosophy of promoting on-going sustainable pricing, nor does it benefit the insurer, the adviser or the customer in the long run.”

Integrity’s offer of 8% off is on the standard premium each year for the life of the policy. The offer is valid for new business quoted and submitted from 15 September 2019 to 31 December 2019. Applications must be inclusive of two or more different covers, with the discount applied to lump sum covers (Life, Critical Illness or TPD) only.

Chris concluded, “Our product team asked themselves, ‘how would you price life insurance for today?’ and worked closely with advisers to develop this new proposition. We trust that our adviser partners will be excited by this new proposition and the broader changes it represents for the life insurance industry.”

Chris Powell

The failure of people to take out adequate life, income protection and TPD insurance is driving a boom in online crowdfunding websites according to new research from Integrity Life (Integrity).  

Integrity’s research found that Australians are stepping in to bail out those without adequate cover: 35% of respondents said they have donated following the death, illness or accident of someone they may or may not know. In the nationwide poll of 1,000 people, the results showed that more than one in five Australians has donated to a fundraising campaign to help others who are left unable to meet financial outgoings after the death of a loved one, and 24% have made a donation to a family to help with medical and living costs after a serious accident or illness. 

 Commenting on the research, Integrity Life MD Chris Powell said, “Crowdfunding has helped so many deserving people at difficult times. That said, we only hear about a very small number of campaigns that do well, and mostly because of the publicity surrounding truly heartbreaking scenarios. However, there are many more people who raise a very small amount.” 

Chris continued, “GoFundMe and crowd fundraising websites are not a contingency plan, nor are they a substitute for adequate insurance. They have an important role to play as a last resort for those who are genuinely in need.”

The poll found that fewer than four in ten Australians (38%) felt that they had enough life insurance to meet costs of a funeral and ongoing living costs if the primary earner passed away, or medical treatment or other costs if the primary earner suffered a permanent disability or illness rendering them unable to work.  

Chris continued, “Our research indicates that there are almost 11.5 million Australian adults who know they do not have enough life insurance in place to help them if the primary earner in their household lost the ability to support their family or worse still, their life. I expect the real figure would be even higher as people generally underestimate the financial impact of such a devastating event and the long-term effect on their life.”

In the last 10 years hundreds of fundraising platforms have sprung up around the world. Launched in 2008, GoFundMe is the largest of the social fundraising platforms and is considered to be the leader in memorial fundraising. An analysis of data by Integrity Life reveals that GoFundMe’s campaigns raise an average of $4,578 AUD* for those needing assistance after the death of a loved one. This includes campaigns asking for assistance with funeral expenses as well as meeting ongoing living costs. Medical emergency campaigns appear twice as often, but raise the same amount on average ($4,578). 

Chris concluded, “With underinsurance so endemic across life, TPD and income protection categories, GoFundMe and other crowd fundraising platforms have become both a first stop and a last resort. Unfortunately, most people don’t think they will ever need to call on life insurance but without it they’re forced to rely on the kindness and generosity of others and have their most private moments publicised.  Sadly, even then the success of the campaign depends on someone’s ability to tell their story and share with their network.

“Having adequate insurance will ensure people don’t end up in this precarious situation should the unthinkable happen. For those Australians unsure whether they have adequate level of cover, or who don’t currently have cover, it’s a good idea to speak with a professional risk adviser.”

Other key findings from the research

• The age group most likely to support fundraising for families in need was 18 to 24-year olds, where half of this group had donated to a campaign.
• Within this age group 35% had donated to a campaign following a death and 27% donated to assist a family cope with a serious accident or illness.
• Just 19% of those aged over 65 years had donated to help a family after a death, illness or accident.
• There was little variation across the age groups when asked whether they had adequate life insurance to meet the costs of their household’s primary earner losing their life or ability to support the family.
• Those aged 35-44 were most likely to say they had adequate insurance whereas those over 65 years were least likely (30%).

Chris concluded, “With underinsurance so endemic across life, TPD and income protection categories, GoFundMe and other crowd fundraising platforms have become both a first stop and a last resort. Unfortunately, most people don’t think they will ever need to call on life insurance but without it they’re forced to rely on the kindness and generosity of others and have their most private moments publicised.  Sadly, even then the success of the campaign depends on someone’s ability to tell their story and share with their network.

“Having adequate insurance will ensure people don’t end up in this precarious situation should the unthinkable happen. For those Australians unsure whether they have adequate level of cover, or who don’t currently have cover, it’s a good idea to speak with a professional risk adviser.”

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Chris Powell

The failure of people to take out adequate life, income protection and TPD insurance is driving a boom in online crowdfunding websites according to new research from Integrity Life (Integrity).  

Integrity’s research found that Australians are stepping in to bail out those without adequate cover: 35% of respondents said they have donated following the death, illness or accident of someone they may or may not know. In the nationwide poll of 1,000 people, the results showed that more than one in five Australians has donated to a fundraising campaign to help others who are left unable to meet financial outgoings after the death of a loved one, and 24% have made a donation to a family to help with medical and living costs after a serious accident or illness. 

 Commenting on the research, Integrity Life MD Chris Powell said, “Crowdfunding has helped so many deserving people at difficult times. That said, we only hear about a very small number of campaigns that do well, and mostly because of the publicity surrounding truly heartbreaking scenarios. However, there are many more people who raise a very small amount.” 

Chris continued, “GoFundMe and crowd fundraising websites are not a contingency plan, nor are they a substitute for adequate insurance. They have an important role to play as a last resort for those who are genuinely in need.”

The poll found that fewer than four in ten Australians (38%) felt that they had enough life insurance to meet costs of a funeral and ongoing living costs if the primary earner passed away, or medical treatment or other costs if the primary earner suffered a permanent disability or illness rendering them unable to work.  

Chris continued, “Our research indicates that there are almost 11.5 million Australian adults who know they do not have enough life insurance in place to help them if the primary earner in their household lost the ability to support their family or worse still, their life. I expect the real figure would be even higher as people generally underestimate the financial impact of such a devastating event and the long-term effect on their life.”

In the last 10 years hundreds of fundraising platforms have sprung up around the world. Launched in 2008, GoFundMe is the largest of the social fundraising platforms and is considered to be the leader in memorial fundraising. An analysis of data by Integrity Life reveals that GoFundMe’s campaigns raise an average of $4,578 AUD* for those needing assistance after the death of a loved one. This includes campaigns asking for assistance with funeral expenses as well as meeting ongoing living costs. Medical emergency campaigns appear twice as often, but raise the same amount on average ($4,578). 

Chris concluded, “With underinsurance so endemic across life, TPD and income protection categories, GoFundMe and other crowd fundraising platforms have become both a first stop and a last resort. Unfortunately, most people don’t think they will ever need to call on life insurance but without it they’re forced to rely on the kindness and generosity of others and have their most private moments publicised.  Sadly, even then the success of the campaign depends on someone’s ability to tell their story and share with their network.

“Having adequate insurance will ensure people don’t end up in this precarious situation should the unthinkable happen. For those Australians unsure whether they have adequate level of cover, or who don’t currently have cover, it’s a good idea to speak with a professional risk adviser.”

Other key findings from the research

• The age group most likely to support fundraising for families in need was 18 to 24-year olds, where half of this group had donated to a campaign.
• Within this age group 35% had donated to a campaign following a death and 27% donated to assist a family cope with a serious accident or illness.
• Just 19% of those aged over 65 years had donated to help a family after a death, illness or accident.
• There was little variation across the age groups when asked whether they had adequate life insurance to meet the costs of their household’s primary earner losing their life or ability to support the family.
• Those aged 35-44 were most likely to say they had adequate insurance whereas those over 65 years were least likely (30%).

Chris concluded, “With underinsurance so endemic across life, TPD and income protection categories, GoFundMe and other crowd fundraising platforms have become both a first stop and a last resort. Unfortunately, most people don’t think they will ever need to call on life insurance but without it they’re forced to rely on the kindness and generosity of others and have their most private moments publicised.  Sadly, even then the success of the campaign depends on someone’s ability to tell their story and share with their network.

“Having adequate insurance will ensure people don’t end up in this precarious situation should the unthinkable happen. For those Australians unsure whether they have adequate level of cover, or who don’t currently have cover, it’s a good idea to speak with a professional risk adviser.”

The post Under-insured Aussies turn to crowdfunding in hard times appeared first on AdviserVoice.

Suzie Brown

Royal Commissions, inquiries and investigations have resulted in scores of negative headlines about the financial services industry. While the tide is starting to turn and the industry seeks to rebuild trust, it would still be reasonable to think that, as a new life insurance company, customer distrust would be the biggest battle we, and the advisers we work with would face when communicating the importance of life insurance. So, we asked advisers what their customers are saying – and the results were surprising.

When the advisers we work with spoke to everyday people about the obstacles that prevent them from having adequate life insurance, the answers were varied.  We found understanding of life insurance is low and confusion is high. Very high. We heard people often don’t see their income as an asset until its converted to something they can see and touch. Some also thought they might have life cover through their superannuation as this rings a distant bell about something they signed, somewhere, some time ago. Most worryingly, others think health insurance will be their saviour should they need TPD cover.  This lack of understanding leads many to thinking life insurance is just not necessary.

We heard from advisers that some people relegate life insurance to the “graveyard” lists of things they hope to do, but in reality it’s the place where tasks go to die rather than get done.  This is the “too hard basket” or the “too complicated basket” or the “takes too long basket”.

Advisers confirmed to us that most people are convinced they are not going to die suddenly, unlike all of those other people who die suddenly. They plan to die with adequate notice and therefore plenty of time to update their life insurance (and the playlists of songs they really want at their funeral).

Working at Integrity Life means I have no excuse not to have life insurance as I see the value day in, day out.  For other people a major milestone will serve as a trigger or sometimes a tragic story will spur people to act and take out life insurance. Knowing their family will be taken care of often shifts people into action and moves insurance up the list.

Life insurance is being made simpler with technology that helps advisers to explain things like premiums and coverage.  We are leading this new wave of simplicity that will help advisers to demonstrate value of life insurance. Getting this right is key to protecting people and their families and reducing underinsurance.

By Suzie Brown, General Manager

Suzie Brown

Australian life insurer, Integrity Life, is urging Australians to check their life insurance cover inside superannuation before the enforcement of new laws on 1 July 2019.

As part of the Protecting Your Superannuation Package reforms, a superannuation fund member’s life insurance will be cancelled if their superannuation account is inactive, unless they elect to retain the insurance.

According to Suzie Brown, General Manager, Distribution, Integrity Life, some superannuation fund members are at risk of losing important insurance that could provide them with income protection, total and permanent disability insurance (TPD) or life cover if they do not act quickly.

“There are Australians who may not be aware of how the upcoming changes to life insurance within super will affect them and their ability to financially protect themselves or their loved ones when they need it most,” said Suzie.

“The new rules apply to inactive super accounts, that is, those accounts that have not received a contribution in the past 16 months. For people who haven’t made a personal contribution or received mandatory employer contributions to their super accounts for 16 months or more, they need to be aware that they will lose their cover if they don’t take action by 30 June 2019.

“Also, the Australian Taxation Office will have the power to consolidate inactive super accounts with a balance below $6,000, so anyone with a super account should spend time understanding how these changes will impact them,” said Suzie.

All super funds were obliged to write to affected members informing them of the changes by May 1, yet the industry believes not enough super fund members are acting.

“Despite the fact that super funds have communicated with people about the changes, the tight time frame means that there isn’t much time for people to opt-in to insurance. That is, to let their fund know that they want to keep their life insurance cover,” explained Suzie.

While some funds may reinstate cover lost through the consolidation of low-balance, inactive super accounts, super fund members will be required to reapply for their life insurance and likely provide updated health and lifestyle details. If the member’s health or circumstances have changed since they first opened their super account and received insurance, they may not be eligible for the same cover they previously had.

“If superannuation fund members receive a letter or email from their fund asking them to ‘opt-in’ to their insurance, but don’t respond by June 30, the cover will be cancelled from July 1. Inaction, confusion, or simply not checking notifications from your super fund are some of the reasons why people may not realise they’re in danger of losing their insurance. That’s why it’s so important for people to pay attention to communications received from their super fund and to make deliberate decisions,” said Suzie.

In conclusion, Suzie reiterated the importance of life insurance: “The purpose of life insurance is to provide protection for those times when the unthinkable happens. If you are unsure how much insurance you might need should you experience a major health incident, or worse, it can be a good idea to seek professional advice, either through your super fund or from a professional risk adviser,” said Suzie.

Top tips from Integrity Life to prepare for the Protecting Your Super Package:

• Check whether you have any inactive superannuation accounts by visiting MyGov and linking to the ATO.
• For any inactive accounts, contact your superannuation fund, check your statement or access your online accounts to check your insurance cover.
• If you decide to retain your life insurance within any inactive super accounts advise your Superannuation Fund by 30 June 2019.
• Read all letters and/or emails from your superannuation fund and contact them with any questions.

How can impacted Australians avoid losing their insurance within superannuation?

• Contact your super fund and elect to keep your cover
• Make a contribution into the inactive account before 1 July
• Make sure you read all letters and emails from your super fund.

Summary of the changes effective July 1, 2019:

• Insurance cover cancelled for inactive accounts, i.e. accounts that have not received a contribution for a continuous period of 16 months and the member has not elected to retain their cover.
• Inactive super accounts with balances below $6,000 will be consolidated.
• Fees for low balance accounts ($6,000 or less) will be capped at 3% p.a.
• Exit fees will be banned across the board.

Summary of the changes effective July 1, 2019:

Insurance cover cancelled for inactive accounts, i.e. accounts that have not received a contribution for a continuous period of 16 months and the member has not elected to retain their cover.
Inactive super accounts with balances below $6,000 will be consolidated.
Fees for low balance accounts ($6,000 or less) will be capped at 3% p.a.
Exit fees will be banned across the board.

Chris Powell

Australians would rather talk to their partner about past relationships than address how they would manage their finances in the event of death or disability. These are the findings of recent research from Integrity Life (Integrity)^[1], a new life insurance company that is urging Australians to consider the financial implications of their mortality.

Integrity polled more than 1,000 people and found the top three taboo topics for Australians were: sharing opinions about their partner’s friends, voicing opinions about relatives and discussing what would happen financially if one of them were to die.

Integrity Life MD, Chris Powell, commented, “There are plenty of topics that make for uncomfortable dinner time conversation, including opinions on your partner’s family and friends. However, discussing what would happen to your loved ones should you or your partner die is one topic that’s repeatedly seen as too hard to approach yet is arguably more important. Financial planning for the unthinkable is vital for ensuring the future protection of your dependents, and this is why I am passionate about starting a conversation on the topic.”

Table 1:  Australia’s top 10 taboo topics

Perhaps surprisingly, the research found that discomfort levels, were, across the board, highest amongst younger people. Of Australians aged between 25 and 34 years, conversations about money and death were the number one taboo: 46% said that this topic was a no-go area. This age group also rated sharing views on their partner’s friends (43%) and in-laws (40%) as more uncomfortable than other age groups.

The research found that across a wide range of taboos, older people were significantly more likely to discuss topics considered off-limits for their younger counterparts. Just 14% of over 65s felt that they couldn’t talk about sensitive medical issues with their partners compared to 37% of under 25s. Over 65s were also least uncomfortable with taboos around money after death with 23% reporting they wouldn’t discuss this topic with their partner.

Mr. Powell said “This no-holds barred bravery amongst older Australians should encourage younger people so they too can tackle these uneasy subjects with their partners. This can be as simple as setting an appointment with a professional risk adviser, and discussing your financial commitments now, then working out the type of cover you need for your life stage. The good news is Integrity has been built from the ground up to make taking action more straightforward and transparent for advisers and ultimately their clients.”

Integrity launched to the intermediated-retail market this month, following an intense co-creation process where the company worked with advisers to address the common frustrations in dealing with existing insurers. Mr Powell said Integrity will provide Australian life insurance customers with a better offering that meets people’s changing needs through providing greater fairness and transparency.

“Integrity means doing the right thing, even when no one is watching. We have set ourselves a high benchmark with our name, and we are committed to exceeding it. This means we are working with financial advisers to provide all Australians with life insurance that provides them with protection when they need it most and uses straightforward medical definitions rather than jargon. As a technology-led insurer, we’re free from legacy system constraints, which means we’re able to offer policies that really do put the customer first,” concluded Mr Powell.