Tower Australia expects its new appointment as life insurance provider for AustralianSuper to generate a “significant” number of jobs, particularly as it builds up the income protection business.

AustralianSuper is one of Australia’s largest industry superannuation funds with 1.4 million members.

CEO Jim Minto says Tower, AustralianSuper and associated parties may employ more than 100 new staff. He told insuranceNEWS.com.au Tower has been building up its people and technological resources in its group area to accommodate growth and maintain service capability.

“New capabilities and offers to AustralianSuper’s members around income protection will require more sophisticated claims management and case managers to help rehabilitate people and get them back to work,” he said.

Under the initial three-year appointment, scheduled to start late this year, Tower expects its annual premium to grow to more than $200 million.