Prime Super has announced the appointment of CommInsure, the insurance arm of Commonwealth Bank, as their new Group Insurer after a competitive tender process.
The partnership will take effect on 1 May 2016.
Lachlan Baird, Chief Executive Officer, Prime Super said “This is an exciting change to the Group Life Insurance arrangements for Prime Super. Our goals in undertaking this tender process were to simplify and streamline our offering, to improve the sustainability of premium pricing for our members and to ensure we were offering an appropriate level of cover.
“Prime Super has recently undertaken a significant re-branding process to modernise the look and feel of the fund as well as emphasise the core value of the fund, where the best interests of members is at the heart of everything we do. These new insurance arrangements deliver on the core values of the fund,” Mr Baird said.
Craig Harrison, General Manager Life Product and Distribution, CommInsure said, “We look forward to working with Prime Super to deliver long term value to their members. To be appointed as Prime Super’s insurance partner is a significant achievement for CommInsure, and we are committed to providing a tailored product, claims and service model to meet the insurance needs of Prime Super’s members.”