MTAA Super has made it easier for members to track their claims online and lodge them over the phone, as part of efforts to meet or exceed the service standards from the incoming Code of Practice, Chris Porter writes.

In March, MTAA Super announced we will be amongst the first funds to adopt the new Insurance in Superannuation Voluntary Code of Practice.

MTAA Super was a key member of the working group tasked with the development of the code, joining with other superannuation providers, insurers, and industry associations to ensure it addressed member needs and improved insurance products.

The code will give clarity and certainty to members about their insurance and help them better understand the important benefits it provides.

MTAA Super already meets or exceeds many of the requirements set out in the code. Well before it was drafted, we instituted a fee cap to ensure insurance was affordable for our members. This was particularly important for low-income earners and young people who are less likely to have dependants or significant debt.

The average cost of default insurance for our members is about 0.8 per cent of a member’s salary, meeting the code’s target of 1 per cent or less.

MTAA Super also meets a number of the service levels outlined in the code in regard to making a claim. We are seeking to enhance our service to ensure we meet or exceed all aspects of the code.

Improving claims

As part of MTAA Super’s member-first philosophy, we are always looking to secure the optimum insurance offering for our members.

In 2017, we negotiated competitive insurance fees for death and total and permanent disablement (TPD) cover, securing a significant decrease in the cost of this cover across all age groups. For members with our default cover (which is most of our members), it also resulted in a substantive reduction in their overall insurance fees.

We know making an insurance claim can be daunting and often happens under difficult circumstances.

Better service

To support our members when they need it most, we recently launched two new claims support services – our online claims tracker and our tele-claims service.

The tele-claims service is a dedicated telephone line to assist members making a TPD or income protection claim.

Instead of filling in forms, members can call a claims assessor directly and talk through the details of their claim in person.

As members making a claim may be incapacitated, uncertain and concerned, this approach makes the claims process more accessible and offers a human voice at an often-challenging time.

Our online claims tracker is a secure portal where members can track the progress of their claims at any time.

It shows members the status of their claim and allows them to upload documents to their dedicated claims assessor. The tool also notifies members of any outstanding items required to keep their claim progressing.

This means members always know their claims’ status and reduces any undue delays in the process.

More to come

While we meet or exceed many of the code’s standards, we still have some work to do.

Changes that require updates to our policies, procedures or administrator’s systems will pose the greatest challenge. We will be working with our insurer and administrator to understand the impact of the new standards, so we can plan and properly implement the required changes without hurting our current service levels.

As our administrative staff are often the first point of contact with our members, we are working hard to ensure they share our passion for the code and understand the benefits it will bring our members and the broader industry.

We are confident we will meet all the code’s standards well within the 2021 deadline.