Case Study - Insurance & Investment

Lend Lease & Mutual Life Company (MLC)

The Cause: Dare to be different and transparent in a monopolized ‘closed-shop’ financial services industry in need of transformational change and ethical overhaul.

The Goal: To be an agent for positive change by refining unacceptable contemporary insurance and investment practices in dire need of review.

The Role: Business and Sales Development Consultant; Corporate Sales Director.

The Achievements:

  • Revolutionized an insurance industry rife with misrepresentation and lack of openness by insisting on open disclosure and transparency in all business dealings (e.g. no hidden commissions on products sold, etc.) – effectively heralding imminent and timely government regulatory reform in this area. This novel upfront policy was particularly welcomed and appreciated by consumers and it virtually transformed the insurance sector;
  • Built a vibrant corporate culture and business solidarity that gave the company a highly competitive edge in the marketplace;
  • Approached prospective clients according to the principle of ‘referral and recommendation’ rather than random selection (90% of successful sales resulted from referrals);
  • Formulated a thorough Needs Analysis protocol that incorporated a broad suite of services and member benefits uniquely tailored to suit the individual requirements of the end user and multi-target families, organizations and groups with special package offers;
  • Introduced the concept of the One-Stop Shop into the marketplace – the only existing one of its kind in the industry at the time;
  • Trained and developed award-winning divisional teams of sales agents and distributorsreputed for their professional conduct, competence and enthusiasm; 
  • Produced the technically informative publication, Financial Advisor – to educate the public about investment/insurance innovations and options.

The Bottom Line: The size of our educated database increased substantially over two and a half years and enquiries rose from 0 to 4,000. 

Finance enquiries in a peak 3-month period reached $150 million, while general insurance enquiries over the same period generated $250,000.  

Within the first 9 months, our professional Melbourne Sales Team achieved the No. 1 status within Victoria and No. 2 of all the MLC divisions around Australia.