MEDIA RELEASES
PRODUCT UPDATES
MAY 2017 Direct Life Insurance Report covers Analysis of Market Trends, Market Share Statistics, Direct Risk Lapses and Persistency, Forecast of the Direct Risk Market, Premium Comparison Analysis and Benchmarking of Policy Terms and Conditions for Life, Trauma, TPD, Accidental Death, Income Protection and Funeral insurance products.
MAY 2017 Usability Consulting is a user experience (UX/CX) consulting service developed for the Australia Life Insurance market, based on a UX audit of Life Insurance adviser portals, public adviser websites and quotation software. We measure and benchmark how effectively common and specific user goals and objectives are being met, and how this relates to Life company omni-channel strategic goals.
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.
MARKET INTEL
The discussion about whether or not we need female quotas in the financial industry continues.
The latest research data shows only small changes in the public opinion of the finance industry.
- MDRT recognises AIOFP
- ASIC clarifies position on 'independently owned'
- ASIC temporarily extends time to provide SoAs
- MLC appoints chief claims officer
- AIA restructures executive team
- ANZ announces chief underwriter
- SCOR appoints heads for Australian office
- AFA executive appointed to standards board
- Risk Adviser announces Women in Finance Awards
- Gwen Fletcher Memorial Award winner announced
