Investing in innovation

Our current environment has proven digital and technology experiences are more important than ever before, which has fast tracked the need for agile, intuitive, and simple solutions for our customers and partners.

Improving customer capabilities

31%

increase in customer usage of our digital self-service platforms since the start of the COVID-19 pandemic

Investment in our digital capabilities is a key part of our commitment to improving the experience of our customers, whenever they interact with TAL. At the beginning of the pandemic, we experienced a strong uplift in customer demand for our digital services, particularly our digital self-serve platforms which saw a 31% increase in customer usage. During this time, we have prioritised investment into these areas so that we can continue to meet these increasing demands. Some of the new features we have added to myTAL, our digital self-serve platform, include:

  • direct downloads for documents such as Product Disclosure Statement (PDS) and tax statements;
  • updated navigation with more simplified language; and
  • improved payments functionality.

Helping our superannuation fund partners empower their members to choose the right level of cover remains a key focus at TAL. Developed by TAL’s Member Engagement and Innovation teams, Discover is a new online tool that empowers members to choose the right level of cover for them and address the roadblocks that stop them engaging with their insurance. Discover begins by proactively engaging a specific member cohort, raising awareness about their current insurance levels and giving them an opportunity to learn more about their coverage options. As most members are not confident choosing the level of insurance suitable for them, the tool can direct members to trusted advice and educational resources.

Improving our superannuation fund partner capabilities

Secure information sharing is key to our value proposition for partners and whilst we have a strong history of integration with partners and external platforms, we are working to grow our set of open application programming interfaces (API’s) on our new API Platform – covering the Underwriting and Claims lifecycle.

This is part of our overall API strategy – opening access, receiving real-time data and supporting streaming event-based data across to our partner eco-systems, to enable more simple, seamless and transparent experiences for superannuation fund members.

Enabling effective digital adviser interactions

To enable our adviser partners to more effectively engage with their customers and create operational efficiencies in their businesses, TAL has invested in the TAL Adviser Centre, which provides adviser partners with access to a digital platform where they can manage their customers’ policies and ensure the best client experience.

In 2020, we expanded our support for advisers with the COVID-19 support hub. Providing digital tools and resources aimed at helping them adapt to a new way of providing advice through COVID-19.

Leveraging Artificial Intelligence

Enhancing Quality Assurance with Artificial Intelligence

TAL continues to leverage our in-house data and analytics team to build out specific use cases for Artificial Intelligence (AI) capability across acquisition, underwriting, service and retention, and claims.

  • enhancing Quality Assurance across Direct sales – TAL has been in partnership with Deloitte since mid-2019 on the use of speech analytics/AI to enhance and expand the effectiveness of our quality assurance program. By conducting speech analysis across 100% of new sales, we have been able to provide additional quality assurance and identify the need for human-based call monitoring. We have added new content and phrases to adjust to shifting customer needs or broader areas that affect our customers. For example, bespoke libraries were created for the Australian bushfires and also more recently with COVID-19.
  • enhancing Quality Assurance within Underwriting – WunderWriter leverages AI and machine learning to improve quality assurance in the underwriting process. Through WunderWriter, we can audit 100% of underwriting cases in order to identify inconsistent cases that can then be targeted by our quality assurance team. After successful implementation in our Direct channel, we have now rolled this tool out across our superannuation fund partners.