MLC Brochure – March 2019

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Prioritising the customer amid a digital transformation


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MLC LIFE INSURANCE Undergoing a digital transformation in the insurance sector WRITTEN BY

SEAN GALEA-PACE PRODUCED BY

ALEX PAGE

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Sarv Girn, Chief Innovation and Transformation Officer of MLC Life Insurance, discusses how his company is embracing technology amid a digital transformation in the insurance industry

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ith digital transformation having an increased impact across all industries, it’s become paramount that companies

continuously monitor their operations to ensure 04

they are providing the best possible service to their customers. For Sarv Girn, Chief Innovation and Transformation Officer of MLC Life Insurance, the experience of the customer is considered key. With a 133-year history and considered the oldest start-up in Australia, MLC Life Insurance has substantial experience in the insurance sector. Having transitioned from NAB ownership to joining the Nippon Life Group of Companies, Girn believes that the change in ownership has allowed MLC Life Insurance to progress its customer experience significantly. “It actually ploughs investments back into the customer offering. The ethos within MLC Life Insurance is that we ensure we put the customer first and investments aim to create platforms for advisers, group funds and end policy holders that are truly customer centric,” says Girn. “That


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makes us quite unique given Nippon’s background, because with the investment in new technologies it’s clear we are really serious about our customers. I believe that is what gives us an edge and it shouldn’t be underestimated.”

UTILISING TECHNOLOGY As customer demands continue to change, it is important that companies respond and adapt to the latest digital trends in order to stay competitive with industry rivals. From first-hand experience, Girn believes he has an w w w.ml c i nsura nc e . com . a u


“ We’ve introduced LifeView for our group customers which is a platform we offer to superannuation funds and it’s been very important to us” 06

— Sarv Girn, Chief Innovation and Transformation Officer

effective understanding of what customers expect from a life insurer. “The demands of the customer have changed because customers expect everything to be done online now. Three years ago, I had a nasty fall where I broke my ankle and ended up in hospital,” explains Girn. “At the time, I was part of another life insurance company and having to make a claim wasn’t easy. I couldn’t really load all the documents up online and I had to physically go around to a GP, surgeon, and the hospital to get documented proof that I’d been injured, which on


CLICK TO WATCH : ‘LIFE UNCHANGING — BROOKE WOULDN’T CHANGE A THING’ 07 crutches is no easy task. What

insurance needs online and, should

customers are really expecting is to

they need to make a claim, to be able

log on to a portal, load up all the informa-

to track its progress,” says Girn. “This

tion about their claim electronically,

has been great for members because

track it and get paid automatically.”

claims can go straight through for

With customer requirements in mind,

assessment without the need for lots

MLC Life Insurance has implemented

of manual paperwork. The portal also

a new platform called LifeView, which

offers an integrated experience for

will make the insurance and claims

trustees and administrators, providing

experience easier for members of

superannuation funds with transparent

superannuation funds. The platform is

view of the claims process.”

designed to help improve member engagement, automating processes

TRANSITIONING TO THE CLOUD

and decreasing response times.

Having moved to the cloud under two

“It allows members to manage their

years ago, MLC Life Insurance has w w w.ml c i nsura nc e . com . a u



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“It’s extremely important to innovate because our customers are tech-savvy and expect to be able to conduct their business online. However, we do leverage the broader Nippon Group and look at what are other life insurers in the group are doing” — Sarv Girn, Chief Innovation and Transformation Officer


migrated its services and transformed

philosophy, Girn believes that it’s vital

its infrastructure to ensure it produces

to innovate and utilise partners to

the best possible service. Girn affirms

achieve results. “It’s extremely

that any such transformation is difficult

important to innovate because our

to achieve. “Any migration to the cloud

customers are tech-savvy and expect

or to a new system is complex. It takes

to be able to conduct key elements of

careful planning and because we didn’t

their business online. However, we do

actually have a previous system: we

leverage the broader Nippon Group

had to start off from scratch. Every use

and look at what other life insurers in

of cloud needs to be managed from

the group are doing,” he says. “It’s also

a risk perspective, so it’s important

vital to keep in touch with our custom-

that we make sure we understand the

ers in order to gain a better under-

operational aspects of that outsourcing

standing of what issues they have. I’m

and look at how we’re managing and

a firm believer that it doesn’t really

monitoring it.”

matter who you work for, it matters

With innovation considered a key component of MLC Life Insurance’s

who you work with – so for us, having partners out there where you can pick

E XE CU T I VE PRO FI LE

Sarv Girn Following the acquisition of MLC Life by Nippon Life from Japan, Sarv is responsible for leading the business transformation to re-establish MLC Life as Australia’s leading and most trusted life insurance company. This includes delivering the most advanced digital and process infrastructure in the insurance sector so as to create great customer experience across the group and retail insurance channels.

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1886

Year founded

1,650

Approximate number of employees

HQ

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Melbourne Australia

up a phone and say ‘we want to try this

objectives and there’s a win-win for both

experiment, can you help here?’ is the

sides. If you have a partner that is

key to innovation.”

always trying to sell you something you

In order to ensure that MLC’s

don’t need, then it isn’t really a partner-

success is sustained, Girn points to the

ship,” he explains. “The trick is to find

development of key partnerships with

joint objectives because if you’ve got

Indian multinational IT provider Tech

a partner who’s doing a great job

Mahindra as well as Salesforce, TCS,

implementing your platform and it’s

Infosys, Microsoft and Oracle and

truly strategic, then you can help them

affirms that effective partnerships have

grow in another part of the company.

been an important component to the

It’s primarily about understanding the

transformation. “I think a partnership

objectives of each other, because if the

works well when you’ve got joint

objectives aren’t aligned, it’s never


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going to be successful, no matter how

around for a long time. Our purpose is

hard you try.”

‘a promise for life’, and considering we’ve been in operation since 1886, we

FUTURE PLANS

want to stay around for a long time to

With sustainability at the forefront of

come. It’s sustainability in a financial

MLC Life Insurance’s strategy, Girn

sense, but it’s also vital for us to stay

believes it’s important to stay relevant

relevant to the community. We’re trying

to customers and respond to their

to become more sustainable in offering

demands on a consistent basis. “We

propositions like health and wellbeing

have to ensure we’re not just effective

when customers are considering life

when dealing with customers, but

insurance,” explains Girn. “If my life

efficient internally as well because we

insurer can tell me that I’m eating the

need to make sure we’re going to be

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“ We have to ensure we’re not just effective when dealing with customers, but efficient internally as well” — Sarv Girn, Chief Innovation and Transformation Officer

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and refer me to a gym or a physio, then

mation. We also want to look at some

I’m going to be more likely to stay fit.

really advanced analytics to better

If they keep me healthy and fitter, then

understand our customers’ require-

I’m going to like them and they’re going

ments,” he says. “We’re now entering

to become more sustainable. I believe

a period where we can use machine

that helps to re-define life insurance,

learning and artificial intelligence (AI) to

because a life insurer is primarily a health

analyse customer behaviour and data

and well-being company.”

with their consent and offer a proposi-

Looking to the future, Girn aims to

tion that meets their needs.”

continue to prioritise customers in order to thrive in the life insurance market. “We’re extending our platform even further to our advisers and Group customers to enable further transforw w w.ml c i nsura nc e . com . a u


MLC Life Insurance Tower 2 727 Collins Street Docklands Melbourne, VIC 3008 Australia T +61 418 462 540 www.mlcinsurance.com.au


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