Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 21 - 30 of 96 results for "Claims process"

Life Code update expands consumer protections

JAMIE WILLIAMSON  |  WEDNESDAY, 22 JUN 2022
... protections introduced include extended protections to more types of vulnerability, capping interview times during the claims process to 90 minutes and a ban on allegations of fraud without prior authority and a new approach to obsolete medial definitions ...

MLC Life Insurance joins forces with Insignia Financial

ANDREW MCKEAN  |  WEDNESDAY, 4 MAY 2022
... to make a claim, they will likely be going through a very stressful time in their life. That's why we want our claims process to be simple, transparent and enable members to easily access the level of support right for them," he said. "Through our new ...

APRA, ASIC publish life claims and disputes data

ANDREW MCKEAN  |  WEDNESDAY, 20 APR 2022
... paltry 20%. Moreover, despite the increase in claims paid ratios for TPD insurance, it had the longest average claims process duration; funeral insurance had the shortest time frame. The report claimed the variances in claims processing durations reflected ...

BT enhances LifeCENTRAL+

KARREN VERGARA  |  MONDAY, 7 JUN 2021
BT's LifeCENTRAL+ can now produce quotes for financial advisers wanting to alter life insurance policies for clients in less than 10 minutes. BT has introduced a new self-service functionality for advisers, providing a quote for the most commonly requested ...

ASIC prepares industry for claims handling law

KARREN VERGARA  |  FRIDAY, 27 NOV 2020
... handling will be under the umbrella of "financial service", meaning insurers must hold an AFSL to be involved in the claims process. Life insurers, claims managers, brokers as well as financial advisers who handle claims on behalf of an insurer will ...

RC recommendations closer to legislation

KARREN VERGARA  |  FRIDAY, 13 NOV 2020
... will now be under the umbrella of "financial service", meaning insurers must hold an AFSL to be involved in the claims process. They must also handle claims efficiently, honestly and fairly, and must have an internal despite resolution process and be ...

QInsure ramps up claims technology

KARREN VERGARA  |  THURSDAY, 22 OCT 2020
QSuper's insurance arm has upgraded its systems in an effort to streamline the claims management process. QInsure has moved from FINEOS's Claims system to the Claims SaaS edition on the Dublin-based firm's platform. The insurance claims ...

ASIC names operations, risk leads

KARREN VERGARA  |  MONDAY, 31 AUG 2020
The corporate regulator has made two senior appointments to lead its operations and risk management units. ASIC promoted long-serving employee Warren Day to the newly-created role of chief operating officer after serving as the executive director of ...

Life insurers breach own code consistently

ELIZABETH MCARTHUR  |  WEDNESDAY, 11 MAR 2020
Law firm Maurice Blackburn has called out the life insurance industry, saying insurers breached their Code of Practice hundreds of times in just six months. The Life Code Compliance Committee (LCCC) conducted an investigation and found many insurers ...

Life insurer chief executive retires

JAMIE WILLIAMSON  |  THURSDAY, 5 MAR 2020
The founding chief executive of one of Australia's life insurance providers is retiring after more than 40 years in the industry. Integrity Life has announced its chief executive Chris Powell will retire in the middle of the year, appointing chief financial ...