Metlife goes retail with YBR
Global insurer, Metlife has again ventured into the retail space — this time via an arrangement with Yellow Brick Road Group.
Under the partnership arrangement, Metlife will offer a suite of tailored lifestyle protection solutions,
According to an announcement from Yellow Brick Road today, the ‘Yellow Brick Road Loan Protect' and ‘Vow Loan Protect' products will be available in October this year, ahead of releasing a full suite of white-labelled income protection and life insurance options which will be sold through the Yellow Brick Road Group.
Commenting on the move, Yellow Brick Road executive chairman, Mark Bouris, said a core part of the company's business was to provide customers with protection against the unexpected.
"When a person secures a mortgage, it is generally the biggest debt they will take on in their life. As mortgage sizes significantly grow, Australians still lack the insurance to repay their mortgage if something unexpected happens," he said.
The announcement said the Yellow Brick Road Group products provided via MetLife would be accessed by consumers through a Yellow Brick Road licensees and Vow Financial independent brokers.
MetLife chief executive, Deanne Stewart, said the Yellow Brick Road partnership would be the ideal avenue for MetLife to expand its footprint in the retail market.
"The broker market has been underserviced for some time. This partnership is a means for MetLife to address that service gap with a quality retail insurance offering, utilising Yellow Brick Road's strong network of advisers and brokers," she said.
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