The broker says more granular property-level data could help insurers distinguish between homes that share the same floodplain but face very different levels of exposure.
The enforcement actions underscore heightened scrutiny of operational controls and financial reporting at life insurers amid ongoing sccounting reforms.
Amid rising medical inflation in the region, the insurer and its insurtech venture have developed a model to standardise claims data, with the approach rolled out across six Asian markets.
The deal covers claims with an aggregate face value of about A$2.8bn (US$1.96bn) plus interest, leaving only White Oak's claims of about A$170m outstanding.
Former PROACT Australia co-founder Dave Stott will lead the rebranded business, bringing three decades of experience across underwriting, broking and international markets.
