TAL

Investment Strategy

AustralianSuper spends to save on premiums

Sustainable group insurance is a scale game that needs significant resources, Richard Weatherhead, head of group insurance at AustralianSuper, told delegates at the Group Insurance Summit. He revealed how in the fund’s bid to weather a storm of rising claims, lawyer intervention in such claims and higher premiums it had raised the numbers employed in […]
Opinion

Using data to tailor insurance

Insurance products are becoming a tool which super funds are using to differentiate themselves and increase their relevance to members, as the concept of providing averaged group insurance cover across a fund’s membership is supplanted by products tailored to the individual. However, the use of big data, or the lack of it, in the creation […]
Investment Strategy

Unisuper sets two day claims target

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 […]
Investment Strategy

AustralianSuper moves to annual repricing of insurance

AustralianSuper is to renegotiate its group insurance on an annual basis, a move leading figures in the sector believe will become the norm for other superannuation funds. The appetite for writing new group insurance business has shrunk after one of the three big reinsurers, RGA, stopped pricing any new TPD business, while Swiss Re is […]
Insurance

More mental health advice required

Six insurers have re-signed deals with a charity that aims to improve the wellbeing of Australian employees, as the cost of mental health insurance claims soars. Insurers AIA, TAL, Hanover Life RE, CommInsure, MLC and Beazley Group have signed three-year deals with SuperFriend, while MetLife has signed up for the first time. The deals come […]
Investment Strategy

Seats filling across town

Citibank has appointed former Australian senator and minister for superannuation, Nick Sherry, to its securities and fund services, part of the Citi transaction services division. Sherry will be based in Australia and will have a regional role supporting Citi’s pension fund clients in the Asia Pacific region. Sherry was previously chair of the senate committee […]
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