Since the inception of their partnership in 2013, Hostplus and MetLife have collaborated to offer life-changing and cost-effective group insurance solutions. The extended agreement is set to unlock new opportunities to elevate servicing models across claims and underwriting, ultimately delivering stronger outcomes for members.
Hostplus CEO David Elia highlighted the benefits already realised through this partnership, including lower premiums, improved insurance terms, and a more personalised claims experience. Currently, over 865,000 Hostplus members receive Death, Total and Permanent Disablement (TPD), and Income Protection insurance through MetLife.
Elia emphasised the importance of insurance in superannuation, stating that it offers essential support during life's most challenging times. He noted that the partnership is transforming the insurance service model towards a more personalised and member-focused experience, aiming to provide greater value by offering insurance benefits at a lower cost and dedicated relationship management throughout the claims process.
MetLife Australia CEO Richard Nunn expressed pride in the enduring partnership, reflecting a shared vision to deliver meaningful insurance experiences that support members when it matters most. He highlighted MetLife's focus on being a leading digital insurer, dedicated to delivering service excellence and sustainable life insurance cover to Australians.
Hostplus has outlined key changes to its insurance offering in a Significant Event Notice to members in August 2024, with further enhancements planned over the coming 12 months to support improved member value and experience.
For business owners, HR managers, CFOs, and company directors, this extended partnership underscores the importance of selecting superannuation funds that prioritise comprehensive and cost-effective insurance solutions. Ensuring employee financial security through robust group insurance offerings not only enhances employee loyalty and retention but also mitigates business risks associated with the loss of key personnel.
