Life insurer TAL has teamed up with superannuation fund UniSuper to deliver an Australian-first technology solution.
The new web-based software allows information to be transferred between its database and UniSuper quickly and securely, according to TAL.
By linking the two administration systems, transactions can be carried out seamlessly, TAL says, which it hopes will increase the profitability of both the insurer and the fund.
The interface was designed in line with international group insurance design standards, conceived by the Association for Cooperative Operations Research and Development (ACORD).
UniSuper CEO Kevin O'Sullivan added: "This secure data link-up enhances communication by linking the administration system of the fund and TAL in real time, which results in improved management of risk, process efficiency and cost reduction."
