Suncorp has upgraded its general insurance compliance system as part of a wider independent review and remediation process ordered by the Australian Securities and Investments Commission (ASIC).

Enhancements have also been made to the life insurance division’s compliance system.

Suncorp was ordered to make the changes last year after ASIC uncovered breaches including failure to provide promoted discounts to eligible general insurance policyholders.

“We are pleased the Suncorp Group board has given this matter the priority and attention it deserves,” ASIC Deputy Chairman Peter Kell said.

“The independent review has led to necessary improvement in Suncorp’s compliance systems, which will ultimately benefit consumers.” 

Suncorp reported to ASIC four times during the review implementation. The breaches affected more than 849,000 customers and Suncorp has refunded $23 million to them.