APRIL 2017 Life Insurance approved product list research assists Licensees and their investment and product committee with their internal research process. Licensees can develop and utilise Strategic Insight's benchmark methodology to identify which products are suitable for inclusion on the APL by taking into account a range of factors. This process supports decision making when considering and reviewing the suitability of an insurance product/provider for inclusion on the APL.
MARCH 2017 BT Financial Group has won the Strategic Insight / AFA Life Company of the Year 2016 overall Platinum Award, based on underlying independent Risk Benchmarking research prepared by Strategic Insight and provided to Licensees, based on factors of market share, financial strength, premium rates, policy definitions and product features and customer service input from advisers and Licensees.
MARCH 2017 Software comparison tools for Life Insurance premium rates covering Advised Risk and Direct Risk products. Products types include Term, TPD, Trauma and Income Protection. Results are presented in exportable tabular format and with graphical comparisons. Product features, definitions and scoring are presented, based on our unique Risk Benchmarking, used by Licencees for approved product list construction.
New “Health & Wellness Report 2016” is now available. Health and Wellness programs are generating significant interest in the Australian Life Insurance industry. After many years of companies playing around the edges with a few taking it seriously, there are now high levels of interest and activity across almost all the major Life insurers and Reinsurers.
UPDATED AUGUST 2016 The first in-depth study of Retirement Account Drawings in Australia, explores the extent to which Superannuation fund members have drawn pensions from their accounts during the past 10 years, in particular the percentage of members and the percentage of the account drawn by age, examining minimum pension drawing (as required by legislation) and higher discretionary levels.
- Financial Adviser Standards and Ethics Authority kicks off with new members
- Synchron appoints new state manager
- AMP restructures advice unit
- Suncorp appoints non-executive director
- Asteron Life product update
- AMP updates prices for Elevate, AMP FLP, National Mutual, ACL, Elevate product groups
- FPA announces alliance to get more women into finance
- OnePath is for sale, sort of
- Coles exits life market
- Fiducian expands advice business
- FSC releases draft standard for APLs (and Strategic Insight provides Life Insurance approved product list research)
- ASIC considers peer-reviewed bannings for adviser misconduct
- ASIC scrutinising direct sales tactics
Insurance companies may be using mental illness claimants' daily diaries inappropriately, with the AFA questioning its use, and proposing limitations be put into place to restrict such use.
An ongoing risk adviser sentiment survey conducted by Zurich has shown that advisers are slightly more optimistic than they have been across the past five years.