TAL’s latest claims data reveal that living claim benefits, paid to ill or injured customers, have grown to nearly eight in 10 claims (78% or 28,450 customers) for the latest six month period, up from 75% or approximately 24,340 customers in the previous corresponding period.
The insurer says it provided $2.3 billion in payments for all claim types to more than 36,200 customers and their families in the six months to September 30, 2024.
TAL says the increase in living claim benefits continues to be driven by IP and TPD claims related to mental health conditions “…including post-traumatic stress disorder and depression (29% of all claims), followed by injuries and fractures (18%), and musculoskeletal and connective tissue diseases (16%).”
TAL Chief Claims Officer, Georgina Croft, says the proportion of customers claiming for IP and TPD highlighted the role life insurers play in supporting working Australians and their families when the unexpected happens.
“Life insurance offers more than financial support when a loved one passes away. In the past six months, TAL benefit payments provided an important safety net to more than 28,000 Australians unable to work due to injury or illness.”
…Beyond a claim payment, for customers claiming IP or TPD, it is about assisting them on their recovery journey…
She says that beyond a claim payment, for customers claiming IP or TPD, it is about assisting them on their recovery journey.
“We do this by providing the financial, emotional and physical support they need to get back to health and on with life.”
Croft says beyond working to provide a faster, easier claims experience by harnessing innovation and AI “…we continue to uplift the personalised support we give Australians navigating the claims process and through their recovery.”
She points to TAL’s in-house health experts supporting evidence-based reviews and faster claims decisions.
“Once a claim is accepted, we connect customers with … health providers including mental health services, occupational rehabilitation and cancer support to manage health conditions and help them meet their health goals.”
“TAL also partners with experts in the health community to ensure we are at the forefront of medical thought leadership.”
Customers also have access to Mental Health Assist which provides virtual access to a psychiatrist for an assessment within 10 days, eliminating extended waiting periods often experienced in the community. Last year:
- 70% received a change in diagnosis
- 68% a change in medication
- 64% a change in therapy
- 16% achieved early return to full or part-time work
The insurer adds that Headlight, its online tool to help people better understand their mental health and access free support services, logged 3,257 visits in the same period.
TAL Claims Recovery and Support Specialist, Kate Tran said the role of TAL’s in-house health and rehabilitation team was central to improving customers’ claims experience and outcomes.
