MLC Life explores new market

MLC Life has recruited a new general manager to help drive growth in the individual life insurance segment.

Imran Lalani has been appointed general manager of emerging individual markets.

He joins MLC Life Insurance with extensive experience in leadership and executive roles. Most recently he served as acting chief executive of Lifebroker, the comparison site.

Lalani has over a decade of experience developing contemporary life insurance distribution models that have captured emerging channels and growth.

Before his nearly two years with the TAL Australia-owned broker, he spent 16 years at the parent, where he held several roles, including general manager of TAL comparison and alliances and head of sales effectiveness.

MLC Life's chief executive of Individual business Gerard Kerr said: "We are delighted to have someone of Imran's experience.  I'm excited to be working with him to build our capability to expand into new individual markets.

"Imran will lead our emerging markets team as we seek to grow our footprint in the individual life insurance market and develop new revenue streams in addition to our existing advised business.

Highlighting the need for accessible and affordable insurance for Australians, Kerr explained that the reduction in advisor numbers has created a need for new strategies to reach customers, complementing the service advisors provide.

Further, he noted the shift in customer buying patterns and technology advancements indicate growth opportunities in non-advisor channels.

"The backbone of individual business is the advice business but the funnel through the advisor has got narrower. In addition, people's buying patterns are changing. They're looking at things differently," he said.

"So, we are exploring other ways we can reach these new customers and assist them with their insurance needs".

"Imran will lead our emerging markets team as we seek to grow our footprint in the individual life insurance market and develop new revenue streams.

Lanani told his LinkedIn community that February would have marked an 18-year innings at TAL but "stumps" were called in January.

"It's been so rewarding always to be breaking new ground in delivering innovative life insurance solutions for Aussie consumers - whether direct to consumer, via affinity referral relationships and strategic alliance partnerships, whether bridging the gap between retail/advised and direct/digital-first propositions -  and most recently, rapidly scaling the Lifebroker business," he said.

"I look back in awe of what we have achieved together for our customers.

"18 years of trying, failing and learning will undoubtedly come in handy as I embark on the next adventure."