Brighter Super opts for Zurich over TAL

Mike Taylor

Managing Editor/Publisher, Financial Newswire

15 February 2023

Zurich has won the Brighter Super group insurance mandate away from TAL.

However, TAL has managed to retain the mandate covering the Suncorp superannuation business (Suncorp Portfolio Services Limited) sold to LGIASuper (now Brighter Super) last year and which is still in transition.

Brighter Super announced the group insurance switch from TAL to Zurich stating the decision was guided by which offering was in the best financial interest of the fund’s members.

“We are delighted to deepen our partnership with Zurich as a key strategic partner to our business,” Brighter Super chief executive, Kate Farrar said.

Zurich Australia & New Zealand chief executive, Justin Delaney said that Zurich was excited at the opportunity to deepen its partnership with Brighter Super, and to support Brighter Super members with great value and fantastic service.

“We have made a significant commitment to group insurance globally and are focused on bringing the best of the wider Zurich enterprise for the benefit of Brighter Super members” Mr Delaney said.

Commenting on TAL’s continuing involved with the former Suncorp product, Farrar said: “TAL continues to be fundamental to our member offering, and we will continue to work with them to optimise products as the SPSL super members transition to Brighter Super”.

“The decision to move from TAL was not an easy one, as both insurers made very compelling proposals,” she said.

The process was in line with the ongoing review of products and services following the merger of LGIAsuper and Energy Super and was started in the last quarter of 2022.  Members will not see any changes to the terms of their policies or coverage because of this change.