Industry fund Prime Super has launched an online claims capability in partnership with its group insurer CommInsure.
As part of Prime Super's new insurance capability, members will be able to track their initial application online as it progresses to the final payout.
Prime Super chief executive Lachlan Baird said the fully online process will "reduce stress" for members who make insurance claims by reducing processing times.
"We are delighted to be able to offer this service for our members. If they are ever in the position of having to make an insurance claim, we understand that this can [add] stress to what is already a challenging time," Mr Baird said.
"Prime Super's member services team will also continue to monitor all claims and assist members when required."
The super fund will retain the offline claims initiation and processing "where appropriate", Mr Baird said.
"Members are not disadvantaged by the traditional process but the great innovation of Prime Super's new product is the potential speed of processing and being able to track progress," he said.
The SMSF Association is the latest body to push for the inclusion of managed investment schemes in the CSLR; however, ...
While the rules around the tax deductibility of advice fees were technically updated in December 2023, the profession ...
Financial adviser at Complete Wealth, Dr Ben Neilson, explains how advisers have improved their perceived value over the ...
Never miss the stories that impact the industry.
Get the latest news! Subscribe to the ifa bulletin