MLC aims to grow group business after Maritime Super extends partnership

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MLC Life Insurance is looking to increase its share of the group insurance market as the business announced it has been re-appointed as Maritime Super’s insurance partner, effective last month.

The insurer – majority owned by Japan’s Nippon Life – has been the group insurance provider for Maritime Super members since 2019, offering cover for death, total and permanent disablement as well as income protection.

“We are thrilled Maritime Super has recommitted with us,” Chief Group Insurance Officer Mark Puli said. “We have bold plans to grow our presence in the group insurance market and the recommitment of partners like Maritime Super is important to support this.”

Maritime Super is the largest industry fund for maritime workers and is one of Australia’s longest-running super funds, supporting members for over 50 years. The fund has more than 24,000 members, mainly from the seafaring and stevedoring industries, and has almost $6 billion in funds under management.

“We are delighted to recommit with MLC Life Insurance to provide important insurance cover for our members,” CEO Peter Robertson said.

“They have done a great job in providing a tailored insurance offer since our partnership began in 2019.”

In a separate announcement, MLC Life Insurance has introduced a new service to support customers with their health, wellness and recovery needs.

Vivo brings together all the support provided to policyholders under one brand and is offered at no additional cost.

The service offers support for mental health, cancer and pain; assistance to get back on track after an illness or injury; help with improving wellness and overall health; and access to medical resources.

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Chief Claims Officer Andrew Beevors says offering more support to customers irrespective of whether they make a claim reinforces the value of life insurance protection.

“Most customers will never claim on their policy but will have moments in their lives where they need additional health and wellbeing support,” Mr Beevors said.

“Through Vivo, we provide one place to access everything under one proposition, from fitness consultations through to a second opinion on a medical condition from a team of experts.”

Vivo is now available for retail customers and fund members will have access over the second-half of this year.