Insurance Australia Group owned NRMA Insurance has joined hands with TAL, formerly known as TOWER Australia, to offer its customers life insurance products.
As per the agreement, TAL will provide life insurance policies on behalf of NRMA Insurance, while customer policies will be managed by the former.
NRMA Insurance chief executive officer Andy Cornish said that the partnership would help make life insurance more accessible for customers in Australia, where underinsurance is a problem with nearly 95% people with no adequate life insurance coverage.
"Our alliance with TAL allows us to address this by offering easy to understand and affordable life insurance, as well as greater access as customers can purchase life insurance through all of our existing sales channels," Cornish added.
The mutual collaboration enables NRMA to offer its customers another important insurance product, while also to continue focus on its core suit of products.