MLC is planning to cut turnaround times on new business by up to 70% when a new range of insurance products are launched in the middle of next month.

To achieve this goal, the insurer will be improving its online application engine, Riskfirst, and launching a new desktop-based quotation tool, Illustrator.

This tool will allow advisers to generate an offline quote for clients wherever they are seeing them.

EGM Insurance Duncan West says by the middle of next month MLC expects at least 20% of applications completed online will be approved immediately.

“The new insurance offer will bring together the most highly valued elements of Protectionfirst and Personal Protection Portfolio,” he said.

“It will be competitively priced, rich in features and easy to administer and apply for.”

The insurer has already introduced a number of services to advisers to help with processing of applications and speeding up claims.

These include a 1300 claims number for direct access with staff, as well as doubling the reinsurance retention limits to allow underwriters to make more decisions without referring to the reinsurer.

For high-value advisers, MLC has introduced dedicated service consultants for this market segment.

“We have been listening to advisers and we’re making significant improvements to our service and the technology that underpins it,” Mr West said.

“Our core focus is ensuring we are easy to do business with.”