Life insurer AIA is partnering with digital financial advice provider SuperEd to develop an online tool for superannuation fund members.
The online tool, which will be integrated into AIA's LIFEapp, will provide members with education and assistance with decision making on life insurance.
The tool is promised to be member-focused, providing users with insurance services in one spot.
"Life insurance is vitally important for Australians. The low level of engagement and understanding of life insurance is a key issue to address for the industry," AIA Australia and New Zealand chief executive Damien Mu said.
"We want to support our partnering superannuation funds help their members to better understand the cover they have, why it's important and what they need."
SuperEd chief executive Hugh Morrow said this partnership will help superannuation funds to better engage with their members.
"Our goal is to improve the retirement outcomes and help address the financial literacy of fund members through education," Morrow said.
"We enable super funds to engage, and encourage, their members to make better decisions through the provision of cutting edge tools."
Founded by former Westpac executive Hugh Morrow and former Vanguard Australia head Jeremy Duffield in 2012, SuperEd raised $800,000 in its first funding round in 2015, and is looking to raise an extra three to $6 million on top of a recent $2.5 million to help with its partnership with Challenger.
The fintech aims to provide scaled financial advice to Australians in the pre-retirement phase, through the provision of affordable online advice solutions.