NEOS

What NEOS does

NEOS is an Australian life insurance distribution and administration platform founded in 2018, headquartered in Sydney with offices in Adelaide, Melbourne, Brisbane, and Perth. It operates a multi-product platform serving Australian financial advisers through a nationwide Business Development Manager (BDM), Business Development Consultant (BDC), underwriting, and service consultant model. Through the NEOS Platform, advisers can quote, apply, service, and report on three life insurance products — NEOS Protection and Futura Protection (underwritten by NobleOak Life Limited) and Encompass Protection (underwritten by Acenda, a trading name of Nippon Life Insurance Australia and New Zealand Limited) — from a single cloud-based interface. The platform also supports the Protect Super Plan (issued by Diversa Trustees Limited) for SMSF trustees and provides white-label life insurance administration for brand partners including ahm and Medibank.

The underlying technology is a cloud-based platform with an Underwriting Rules Engine (delivering up to 40% straight-through acceptance rates), the UnderwriteMe Decision Studio for automated medical evidence processing, a Policy Servicing Portal for inforce portfolio management, and built-in premium comparison functionality across the three product brands. NEOS monetizes through commissions and administration fees paid by insurer partners for distribution, underwriting support, policy administration, and claims processing. The company reports strong operational metrics including 95% of new business tasks actioned within 48 hours, 95% of initial underwriting assessments completed within 48 hours, and 60%+ of final decisions made within five working days.

NEOS is a privately held group of Australian companies (parent NEOS Group Holdings Pty Ltd, ABN 59 680 342 910) operating through wholly-owned subsidiaries including Australian Life Development Pty Ltd (AFSL 502759), NDLI Pty Limited (AFSL 547119), NEOS Services Pty Limited, NEOS Admin Pty Ltd, and Nahla Solutions Pty Ltd. The company does not sell direct to consumers and is exclusively advised-channel, with a go-to-market built on regional BDM coverage, accredited CPD webinars, industry awards recognition, and continuous platform enhancements driven by adviser feedback.

Name

NEOS

Legal name

NEOS Group Holdings Pty Ltd

Website

https://neosgroup.com

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

101–250 employees

Short description

NEOS is an Australian life insurance distribution and administration platform that enables financial advisers to quote, apply, and service three competing life insurance products (NEOS Protection, Encompass Protection, Futura Protection) through a single cloud-based platform supported by a nationwide BDM and underwriting team.

Ownership category

akta.pro rank

Product category

Life Insurance Administration and Distribution Platform

NAICS

Agencies, Brokerages, and Other Insurance Related Activities (5242)

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Embedded Insurance & Affinity Distribution Platforms (FSAGAGAL)

Keywords

• Life insurance distribution
• Adviser platform
• Policy administration
• Automated underwriting
• Income protection

Headquarters

HQ city

Sydney

HQ country

Australia

HQ region

Oceania

Offices5 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Infrastructure, Marketing or Sales

Revenue model

1. Insurance Distribution and Administration: NEOS operates as a distributor and administrator of life insurance products. The company earns revenue through commissions and fees from insurer partners (NobleOak Life Limited for NEOS Protection and Futura Protection, Acenda for Encompass Protection) for distribution, policy administration, underwriting support, and claims processing services.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

NEOS distributes and administers three life insurance products (NEOS Protection, Encompass Protection, and Futura Protection) through the NEOS Platform, a cloud-based technology platform that enables financial advisers to quote, apply, and service life insurance policies from a single interface. The company provides policy administration, automated underwriting, claims handling, and dedicated BDM, underwriter, and service consultant support to advisers across Australia. NEOS earns commissions and recurring fees from insurer partners for these distribution and administration services.

Product overview

NEOS operates a platform-plus-products model consisting of the NEOS Platform (a unified cloud-based technology platform) that distributes three distinct life insurance products: NEOS Protection, Encompass Protection, and Futura Protection. The platform provides advisers with tools for quoting, applying, policy servicing, reporting, and premium comparisons across all three products. Additional modules include the Policy Servicing Portal for inforce policy management and UnderwriteMe Decision Studio for automated medical data processing. The products are underwritten by NobleOak Life Limited (NEOS Protection and Futura Protection) and Nippon Life Insurance Australia (Encompass Protection).

Differentiator

Problem solved

Functional benefit

Brands

• NEOS Platform: A cloud-based technology platform enabling advisers to compare, quote, and service life insurance products across multiple insurers including NEOS Protection, Encompass Protection, and Futura Protection.

Products and services

• NEOS Platform A cloud-based technology platform that enables financial advisers to quote, apply, and service life insurance policies across multiple product brands (NEOS Protection, Encompass Protection, Futura Protection) from a single interface. It includes premium comparison tools, reporting, and policy administration capabilities.
• NEOS Protection Life insurance product issued by NobleOak Life Limited, providing death, TPD, and income protection cover. The first product launched on the NEOS Platform and distributed through Australian financial advisers.
• Encompass Protection Life insurance product issued by Nippon Life Insurance Australia and New Zealand Limited (trading as Acenda), offering death, TPD, and income protection cover. Second product available on the NEOS Platform for distribution through advisers.
• Futura Protection Life insurance product issued by NobleOak Life Limited, launched as the third product on the NEOS Platform. Expands product choice for advisers serving Australian clients with life, TPD, and income protection cover.
• UnderwriteMe Decision Studio Medical data automation component integrated into the NEOS Platform for streamlined processing of medical evidence, enabling faster, data-driven underwriting decisions and improved consistency.
• Policy Servicing Portal Module within the NEOS Platform enabling advisers to manage inforce policies, generate reports, update payment and beneficiary details, and perform inforce quoting for alterations across multiple insurers.

Quantifiable outcome

• 95% of new business tasks actioned within 48 hours
• +6 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability1 record

Feature5 records

Partnerships

Six partnerships are on record, tiered core and minor.

• UnderwriteMecoreTechnology or Integration · 24 June 2026UnderwriteMe's Decision Studio has been implemented by NEOS for medical data automation. This is the third Australian implementation of Decision Studio, enabling faster, data-driven underwriting decisions and improved processing of medical evidence.
• NobleOak Life LimitedcoreOEM/ Whitelabel/ Licensing PartnerNobleOak Life Limited (ABN 85 087 648 708, AFSL 247302) is the issuer of NEOS Protection and Futura Protection products distributed by NEOS. NEOS provides distribution, administration, and claims processing services for these products.
• Acenda (Nippon Life Insurance Australia and New Zealand Limited)coreOEM/ Whitelabel/ Licensing PartnerAcenda (trading name of Nippon Life Insurance Australia and New Zealand Limited ABN 90 000 000 402 AFSL 230694) is the issuer of Encompass Protection product distributed by NEOS through the NEOS Platform.
• Diversa Trustees LimitedcoreStrategic or Co-development PartnerDiversa Trustees Limited (ABN 49 006 421 638 AFSL 235153 RSE L0000635) issues Protect Super Plan (ABN 43 905 581 638 RSE R1001341). NEOS provides superannuation administration services for Protect Super Plan on behalf of Diversa.
• ahm life insuranceminorChannel Partner/ Reseller/ Distributorahm life insurance offers NEOS-administered life insurance products to their customer base. NEOS handles customer service for ahm life insurance customers.
• Medibank life insuranceminorChannel Partner/ Reseller/ DistributorMedibank offers NEOS-administered life insurance products to their customer base. NEOS handles customer service for Medibank life insurance customers.

Scale indicators8 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Asteron Life (Suncorp): Australian life insurer within the Suncorp group distributing through advisers and aligned wealth channels; an incumbent benchmark for advised life insurance product breadth.
• MLC Life Insurance: Australian advised-channel life insurer (separated from NAB) selling income protection, life and TPD cover through financial advisers in direct competition with NEOS's distribution approach.
• MetLife Australia: Global life and benefits carrier with an Australian advised retail life insurance offering; targets similar adviser distribution and individual protection customers.
• Helia Insurance (formerly Genworth): Australian life and lender's mortgage insurance specialist with an advised-channel orientation; competes for similar adviser relationships and consumer protection volumes.
• TAL (TAL Life Insurance Services): Largest Australian life insurer offering a broad advised and group life product suite; competes for the same adviser channel and customer outcomes that NEOS targets.
• Zurich Australia: General insurer and life insurer with a meaningful Australian advised life insurance book, including protection products that overlap directly with NEOS's product set.
• AIA Australia: Major Australian life and health insurer with a multi-channel distribution model targeting advisers; one of NEOS's regional sales leaders previously held senior roles here.
• ClearView Wealth: Mid-sized Australian life insurance and wealth business with a focus on advised distribution; comparable in scale and positioning to NEOS in the Australian retail life insurance segment.

Direct peers

• NobleOak Life Limited: Australian life insurer that is both an issuer partner of NEOS Protection and Futura Protection and a competitor for the same advised-channel volumes. Provides the closest product overlap and distribution context.

Emerging players

• InsuranceLine: Australian direct-to-consumer life insurance brand; differentiates on digital versus NEOS's advised-only model, providing a useful counterpoint for assessing channel-concentration risk.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/ne-os

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about NEOS