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Showing 1 - 10 of 29 results for "Claims processing"

ASIC backs Australia's fintech edge as AI reshapes financial services

VINNY VUCAGO  |  FRIDAY, 22 MAY 2026
... reshaping global financial markets, with AI now being integrated into functions including credit underwriting, claims processing, portfolio management and disclosure. ASIC chair Joe Longo said Australia's financial system had a long history of innovation ...

Cbus agrees to pay $23.5m fine

ELIZA BAVIN  |  FRIDAY, 31 OCT 2025
... Court documents filed by ASIC in the Federal Court alleged members were impacted by delays to death and TPD claims processing, some waiting more than 90 days. Cbus apologised to affected members at the time. Following the action being filed by ASIC ...

Cbus vows faster death benefit payouts

KARREN VERGARA  |  TUESDAY, 16 SEP 2025
... engagement with beneficiaries was often "ineffective and insensitive". Fok added that Cbus is "determined to improve claims processing". "That's why we've doubled the size of our claims team and created specialist teams trained to handle death ...

TAL partners to expand access to affordable insurance

MATTHEW WAI  |  MONDAY, 16 JUN 2025
... protection through their payroll platforms via streamlined online registration with no underwriting and 100% digital claims processing. It comes as Cover Genius estimates one million Australians are underinsured for death and total and permanent disability ...

AustralianSuper sued over death benefit delays

JAMIE WILLIAMSON  |  WEDNESDAY, 12 MAR 2025
... Bereavement Centre with 75 dedicated case managers for handling claims. AustralianSuper said it has since seen claims processing times reduce significantly. Member services failures are an enforcement priority for ASIC. It recently filed a similar case ...

Insurance through superannuation stages a comeback

ANDREW MCKEAN  |  TUESDAY, 4 MAR 2025
... are wrapped up within six months, 14% of claims take between six and 12 months, and around 5% exceed a year. Claims processing times improved between 2023 and 2024, the research paper said, with the average time to finalise TPD claims falling from 4.9 ...

AustralianSuper to pay $4.2m for delayed claims handling

ELIZA BAVIN  |  THURSDAY, 21 NOV 2024
... the same issue. Court documents filed by ASIC alleged Cbus members were impacted by delays to death and TPD claims processing, some waiting more than 12 months. Speaking at the ASFA conference this week, ASIC warned all super trustees to ensure they ...

ASIC flags 'consistently weak' claims processes

JAMIE WILLIAMSON  |  WEDNESDAY, 20 NOV 2024
... failures." ASIC has put super funds on notice, writing to chief executives to express its concerns over death benefit claims processing times across the industry. The regulator is currently reviewing death benefit claims and will release a full report ...

ASIC sues Cbus over insurance claim delays: 'We're sorry'

ELIZA BAVIN  |  TUESDAY, 12 NOV 2024
... documents were filed by ASIC in the Federal Court today, alleging members were impacted by delays to death and TPD claims processing, some waiting more than 90 days. Financial Standard understands that about 7500 member claims have been impacted by the ...

Brighter Super increases retirement bonus

JAMIE WILLIAMSON  |  THURSDAY, 10 OCT 2024
... forms available online, including pension account applications and intention to claim a tax deductions forms. Claims processing for low-value death benefit claims has also been simplified, and the process for TPD claims has also been enhanced.
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