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Zurich goes into underwriting partnership with ALI Group

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Zurich Financial Services has entered into a long-term underwriting partnership with ALI Group, a provider of risk protection products to Australian home and property buyers via mortgage brokers.

It will underwrite the My Protection Plan product offered by ALI Group. According to ALI Group’s website, the product is an optional life insurance policy that provides a policyholder with a payment in the event of serious illness, specified injury or death.

A spokesman for Zurich told insuranceNEWS.com.au the insurer will also provide support to any My Protection Plan customer at the point of claim.

The partnership with Zurich has seen enhancements made to the product such as the introduction of a new specified injury benefit that allows policyholders to make multiple claims for different injuries. They can also made a claim under this benefit without a loss of income or waiting periods.

There has also been an expansion to the trauma benefit coverage and enhanced definitions in other areas to allow for more coverage of serious illnesses.

“Given ALI’s strong share of the market, its partnership approach in working with brokers, and most importantly its care for customers, an alliance between Zurich and ALI made perfect sense on both a commercial and a values basis,” Zurich Chief Distribution Officer Kieran Forde said.

“We look forward to a long-term relationship with ALI and to support the broking channel as it continues its journey from lending to incorporating other value add products and services.”