Leading life insurance specialist, TAL, has announced its customer focused Claims Assist digital service has now been rolled out to more superannuation fund partners to help their members more easily manage their claims. Seven of TAL’s superannuation fund partners are now offering their members access to the digital service, which complements the services and expertise... Read more continue reading
05
May
2021
Centrepoint Alliance has announced a new fee structure for financial advisers who choose to work part-time, breaking new ground in the Australian market. The latest research from Roy Morgan shows part-time work is a growing trend, with over 4.3 million Australians currently employed on a part-time basis[1]. Yet according to Paul Cullen, Group Executive Advice... Read more continue reading
28
Apr
2021
As part of a shared commitment to unifying professional standards and further enhancing industry trust and confidence within the community, Australia’s life insurance industry has announced the development of an industry-wide Professional Standards Framework. Jointly developed and committed to by Australia’s leading life insurers, the framework formalises standards for professional excellence by implementing a consistent... Read more continue reading
22
Apr
2021
To ensure the life insurance sector is sustainable for all Australians, it is essential that we bring progressive thinking and have a long-term sustainable vision for the future. Across the industry over recent years, we have seen an increase in the cost of claims and, consequently, price increases which have had lasting impacts for both... Read more continue reading
24
Mar
2021
Synchron is issuing an urgent call to life insurers to clarify how they will treat policies that lapse, change ownership, change premium structure, or need corrections, under the new Unfair Contract Terms (UCT) regime, due to come into effect on 5 April, 2020. Synchron Director, Don Trapnell, said, “Our understanding is that lapsed policies, policies... Read more continue reading
19
Mar
2021
The gatekeeper to the pool In an earlier article we explained risk pooling, a foundational concept in insurance. By aggregating together people with similar risks, those risks can be spread. A frequently cited example is that of ancient shipping merchants [1], who would come together and effectively pool and share the financial risks of one... Read more continue reading
11
Dec
2020
Life underinsurance has been a much discussed – and debated – topic for more than a decade. Denounced by some critics for the perceived self-interest of those seeking to shine a light on the issue, recently released data[1] confirms the underinsurance gap is not only real, and significant, it is also widening. Structural developments within... Read more continue reading
10
Dec
2020
A recent report released by life insurance specialist Brett Wright, has shed some light on the life insurance commission debate, from an advice practitioner and consumer point of view. In his report, Wright articulates the value advisers deliver when providing life risk advice, how consumers fair in a commission vs. no commission world, why an... Read more continue reading
02
Dec
2020
Zurich Australia has announced a new Family Care Policy that recognises all family circumstances and supports a fair, diverse and inclusive workplace. Acknowledging that every family is different, the new approach to Family Care will support every employee regardless of gender, gender identity or sexual orientation and enable everyone to take paid leave as they... Read more continue reading
25
Nov
2020
“Be like water … If you put water into a cup, it becomes the cup.” – Bruce Lee . While Bruce Lee is a strange source for fixed income strategies, his advice is apt for our low interest rates environment. Paraphrasing – “when rates are low, become the bank.” How so? Interest rates will continue... Read more continue reading
20
Nov
2020
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