Super fund names new life insurer

A $12 billion superannuation fund awarded its life insurance contract to a new provider, ending a seven-year partnership with OnePath.

TAL will take over from 1 July 2019 as LGIAsuper's group life insurance partner.

LGIAsuper chief executive Kate Farrar said: "In choosing TAL, we carefully reviewed a range of criteria, particularly costs to members and product offerings of each tenderer."

While LGIAsuper had a very positive relationship with OnePath, the fund is confident that TAL is the best partner for members going forward, she said.

"Our members are our key driver and we firmly believe the new contract with TAL will help us to deliver better coverage, more convenient services and an enhanced member experience. For instance, LGIAsuper members will have access to new digital tools, including an insurance needs calculator, to help them understand how much cover they might need across life stages."

Farrar added that LGIAsuper went to market as part of its commitment to providing the best possible cover for its members, a process which began in September 2018.

TAL group chief executive and managing director Brett Clark said: "We look forward to working with LGIAsuper to provide tailored, value for money insurance solutions and supporting their members when they need us most."

TAL recently won a group insurance mandate from $51 billion superannuation fund Rest, replacing AIA Australia.

The former Queensland local government employee super fund provider opened its doors to the public in June 2017. It now has 80,000 members.

Read more: TALLGIAsuperOnePathKate FarrarAIA Australia
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