The pandemic's economic and social impact are likely to surge in the coming months in spite of the number of claims directly related to infection with Covid-19 being minimal, MLC Insurance's Sean Williamson points out.
In the first of a series of how to guides for super funds Alastair Adamson, consultant at Rice Warner, walks through the steps they need to take to ensure the lowest possible premiums when renegotiating their group insurance package. Over the last couple of years wholesale premiums have sky rocketed, and will continue to do […]
Data management is becoming a “battleground” for the group insurance industry as funds and insurers seek to create new, more personalised and sustainable products, according to Robert Nunez, head of industry funds at CommInsure. The changes are a response to the soaring insurance premiums and the corresponding pressure from APRA on insurers and trustees to […]
Energy Super has fashioned tailored insurance products for energy industry workers. The fund has experienced an increase of income protection insurance claims, as well as TPD, prompting the creation of a range of policies to better meet member requirements. Mark Williamson, Energy Super chair, explained the one-size-fits-all approach is poor practice. “Insurance is very important […]
Unisuper has built up the size of its insurance claims team to the point where most applications now take less than two days to process in a bid to reduce the size of claims and to boost the chances of member rehabilitation. Over the last few months the fund has increased the size of its […]
Six principles for helping employees engage in return to work programs and reduce group insurance premiums have been published by AIA Australia. The principles were identified after independent research carried out by rehabilitation expert Petrina Casey for AIA Australia, which gathered data and experience from programs around the world as well as speaking to those […]