The Australian Prudential Regulation Authority (APRA) has upgraded its data transfer technology for the life sector. Life insurers will be able to use “direct to APRA” software to submit their returns securely online, according to APRA Executive Member John Trowbridge.

The regulator has also simplified its reporting requirements, replacing 84 different forms for life companies and friendly societies with 13 streamlined forms designed to bring the life sector into line with general insurance, superannuation and authorised deposit-taking institutions.