Australian Life Insurance (ALI) today announced it has written over $10 billion in mortgage protection cover via the third-party channel.
Brian Pillemer, ALI’s executive director and head of distribution, said the current funding environment and a slowing in property market activity have boosted interest in cross selling insurance products amongst brokers.
“As brokers start to feel pressured by bank commission cuts as well as a volume downturn in residential lending, the addition of mortgage protection can give any broker a much needed cash flow boost,” he said.
ALI has written more than 40,000 policies through mortgage brokers since it introduced mortgage protection insurance to third-party distribution in 2003.
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