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

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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”.

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Chairman Eric Dodd said: “Heinrich’s extensive leadership and sector experience ideally complements the expertise of my fellow Board members, and will be of great value to Integrity as it progresses from new entrant to established market player. We are very pleased to welcome Heinrich and look forward to leveraging his industry insights.”

Commenting on his new role, Heinrich said: “I’ve been watching the development of Integrity Life with interest, and greatly look forward to working with MD Chris Powell, Eric and my fellow Board members on this exciting mission which aligns with my values and my aspirations for the industry.

Heinrich joins Integrity after a 36-year career at Munich Re Group, where he spent the last decade as Managing Director, Australasia. He has held various directorships and adviser roles in insurance companies, underwriting agencies, insurance and reinsurance brokers.  Heinrich has also served as a director of the Insurance Council of Australia and ANZIIF.

Talent investment

Integrity also announced two senior hires, with Mark McCrea appointed as Operations Manager and Jacqueline Little as Head of Product.

Joining from Clearview Wealth, where he held the positon of Head of Operations, Mark brings 25 years’ worth of experience in financial services – predominantly within life insurance – with a specialisation in operational transformation and implementation.

Previously National Manager for Product Policy at ANZ, Jacqueline will leverage her extensive expertise in product development and strategy to ensure Integrity’s offering is constantly reassessed and refreshed, to continually meet advisor and client needs.

Managing Director Chris Powell said: “We are delighted to welcome Mark and Jacqueline to the team. Alongside sector specialists Suzie Brown (General Manager of Distribution), Les Jones (Head of Group Risk Distribution), Andy Todd (Head of Information Technology) and Michael Tuffy (Chief Operations Officer), we benefit from some extraordinary industry talent, all of whom share the vision to provide life insurance as it’s meant to be.”

Integrity already offers group insurance and is set to conduct a pilot of its retail products with a group of 50 specialist insurance advisers in mid-October.

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