Tower offers risk tracking technology
Tower Australia has rolled out an online medical tracking tool for its risk advisers and has also struck a deal with Australian Income Protection (AIP) to offer group insurance to the 7,700 members of the Queensland based superannuation fund SPEC(Q).
As part of its new mandate with SPEC(Q), Tower will provide members with an increased benefit offering, as well as an improved administration system which delivers a direct communication service between Tower and the plan's administrator.
“The life industry needs substantial re-engineering to simplify and make products and processes more accessible and user friendly,” Tower chief executive officer Jim Minto says.
To this end, the decision to extend the use of the International SOS (ISOS) medical tracking system will enable advisers to follow up Personal Medical Attendant’s Report (PMAR) requests with doctors.
The ISOS system enables insurers to track the progress of requests, and while some other companies are using the ISOS service in-house, Tower is the first life company to offer the system externally for the benefit of advisers.
Tower’s advisers will be able to access the ISOS system after registering for the service online.
The roll out of ISOS to advisers follows Towers launch of the ‘no-medical’ form of underwriting FastTrack earlier this year.
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