Life Insurance APL Service
Life Insurance approved product list (APL) research assists Licensees and their investment and product committee with their internal research process. Licensees can develop and utilise Strategic Insight's risk benchmarking 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.
Life Insurance APL Service is designed to provide practical research insights based on:
- Unique holistic benchmarking methodology of life insurance companies and their products
- Detailed and continually updated research which supports the methodology
- Assistance and recommendations for inclusions and exclusions from the APL
Package of services available to Licensees:
1. Risk Benchmarking Report
Strategic Insight has developed a Risk Benchmarking Report covering research on Australian life insurers and their insurance products. It has been used for over 10 years both as an input to licensees’ APL requirements and also as a means to provide life insurers with an information service in which they can see how they are viewed by licensees as well as being able to compare themselves against competitors. Apart from being highly innovative, the in-depth holistic approach has never been copied, probably because it depends on a combination of practical experience of working in the life industry, the disciplined approach of actuaries and the skills in extracting accurate data by researchers. We set benchmarks by ensuring that accuracy of data is paramount, delivery of reports meet market requirements for timeliness and coverage of data is the most comprehensive available. Read more ...
2. Monthly Research Update
A Monthly Research Update provides the Licensee with information on changes to products and rates, life insurance company personnel and services, financial issues, market experience (growth/decline in sales and in force) and other licensee topics of both interest and importance.
3. Scheduled Insight Meetings
Scheduled Insight Meetings are conducted in person or by conference call, where assistance and recommendations regarding inclusion and exclusion of the various life insurers and their products can be discussed. These meetings are designed to provide an independent input to Licensee processes in their maintenance of approved product lists.
4. Support Hotline
A Support hotline is available for Licensee personnel to contact and discuss any issues with our analysts.