Risk Product, Company and Regulatory Updates as at 20 March 2018

Company Updates

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Macquarie acquires equities specialist
Macquarie Investment Management has entered into an agreement to acquire ValueInvest Asset Management for an undisclosed sum. ValueInvest is a global and Japanese equities investor.

Prime Super digitises claims process
Prime Super members will now be able to use Prime Super Member Online to access claims for terminal illness, income protection, and total and permanent disability. The portal was developed in conjunction with CommInsure to allow customers to upload and complete claims requests and update personal information.

Atlas Wealth expands operations
Queensland-based financial advice business Atlas Wealth Management has expanded its operations to the United Arab Emirates, establishing an office in Abu Dhabi.

MLC improves underwriting engine, launches virtual assistant
MLC Life Insurance will launch a new underwriting rules engine in April after an agreement to use Pacific Life Re’s UnderwriteMe. MLC Life will leverage its underwriting capabilities and adjust the types of products offered. MLC has also just launched Australia’s first superannuation virtual assistant, which will be available on Google Home devices and will soon come to mobile. 'Talk to MLC' is currently able to answer MLC’s 15 most commonly asked questions.

Regulatory Updates

WSU designs finance course to meet new standards
Western Sydney University (WSU) has developed a financial planning graduate diploma. This course will meet new Federal Government requirements set up by FASEA and is fully accredited by the Financial Planning Education Council.