Yellow Brick Road (YBR) says life insurance premium growth has slowed after a stellar result last financial year.

It had reported growth in life insurance premiums of 94%, achieving premium income of $9.3 million for the six months to June 30. This compared to $4.8 million in the corresponding 2014 reporting.

But growth has slowed in the first quarter of this financial year. Premiums in the quarter rose by only $100,000, compared to $1.8 million in the corresponding period last year.

In an investor update, YBR confirms it will launch its co-branded mortgage-linked life insurance product with MetLife in the second quarter of next year.

It says it will be offered during the mortgage sales process and could convert more YBR customers to wealth products.

It will offer upfront underwriting, affordable pricing aimed at YBR’s target audience and a direct relationship with an insurer, to improve margins for the financial services company.

The investor update also gives details on the first few months of YBR’s Guru robotic advice service.

On its first night the service featured on TV show Celebrity Apprentice and attracted more than 300 leads.

The update says 80% of leads proceed to meetings with advisers, and 20% move to advice or a loan. There will be an advertising campaign for the service early next year.