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Aussie is currently piloting an innovative insurance offering in South Australia, with a national roll-out expected in January 2014.
The Mortgage Protection Plan (MPP), built in conjunction with ALI Group and Metlife, has been integrated into Aussie’s mortgage sales software to assist brokers in offering the product.
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Aussie’s head of product Andy Wright said this can save both brokers and their customers valuable time.
“The Aussie Mortgage Protection Plan is of enormous value to both our customers and brokers, who no longer need to fill out separate application forms, should they wish to take up our insurance offering,” Mr Wright said.
The MPP includes cover up to age 99 for loss of life and terminal illness, automatic 30 per cent of cover up to age 65 for specified critical illness and involuntary unemployment for the first 12 months.
There is also the option of joint cover at different benefit levels, and the plan incorporates optional and flexible cover choices for customers, who can nominate a monthly premium amount and cover according to their budget.
ALI Group chief executive Ray Hair said the insurer was excited to join forces with Australia’s most recognised broker group.
“Integration of insurance into the mortgage broker’s processes makes it easier for the broker to offer insurance and improves customer take-up of an important benefit,” he said.
“It is pleasing to see the investment by Aussie and ALI in systems integration is already delivering benefits in the SA pilot,” Mr Hair added.
