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Previously worked with a Telstra Partner however I am not a Telstra Employee, just a fellow customer helping when I can.
No, you can't do it online. You will need to call 132000 and speak to the consultants.
Also, Business Lease Assure doesn't cover you for the loss of your phone, it just allows you to upgrade your phone more regularly (with some cover for damage).
Given that the phone is lost (and leased), you would get charged Fair Market Value +20% of the Phone as the Phone cannot be returned to Telstra as per the terms of both your Lease and Business Lease Assure.