Aussie Home Loans is to launch its own branded mortgage protection insurance.
The Aussie Mortgage Protection Plan, developed in conjunction with ALI and MetLife, is currently being piloted in South Australia, with a national roll-out due in January 2014.
Aussie's head of product, Andy Wright, says the offering is uniquely integrated into Aussie's mortgage sales software.
“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. Our software integrates the data from their mortgage details, saving time for both customer and broker,” says Wright.
“The partnership with ALI is a benefit to Aussie, which can now offer market leading insurance solutions, while ALI has the added value of increased market penetration through access to Aussie’s customers. All going well, MPP will be rolled out nationally early next year.”
ALI Group CEO Ray Hair says the product will help to reduce the workload for brokers.
“ALI Group is excited to launch Aussie Mortgage Protection Plan with Australia’s most recognised broker group. ALI specialises in the distribution of insurance products through mortgage brokers. 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. It is pleasing to see the investment by Aussie and ALI in systems integration is already delivering benefits in the SA pilot."
