AIA has introduced its online life insurance application tool into the group insurance market.

“LIFEapp aims to tackle the underinsurance issue head-on by offering superannuation fund members a simple and straightforward way to access increased cover,” AIA Chief Distribution Officer Damien Mu told insuranceNEWS.com.au.

The online tool includes a life insurance needs calculator, the application form and the ability to lodge it online.

Mr Mu says the insurer is now working on an online claims tool called eClaims, which will be launched later this year.

The tool will streamline the collection of information from the claimant and third parties such as employers and doctors, resulting in reduced turn around time for claims.

“Group insurance is all about claims and the time has come to address the inherent issues which are apparent across the industry,” Mr Mu said. “We must make wholesale changes and not just tinker around the edges.”