New report predicts more changes in group insurance market

Further shakeups are expected in the $6.4 billion group insurance market, a new report from actuaries and researchers Plan for Life says. It predicts more insurers will exit the market because of mounting pressure on margins.

Source: InsuranceNews
https://www.insurancenews.com.au/life-insurance/new-report-predicts-more-changes-in-group-insurance-market

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Risk inflows decline 3.6% to $16.2 billion

Overall risk market inflows in the life industry fell 3.6% to $16.2 billion in the year to March, dragged down by declines in the individual risk lump sum and group risk product lines, according to data compiled by actuaries and researchers Plan for Life.

Source: InsuranceNews
https://www.insurancenews.com.au/life-insurance/risk-inflows-decline-3-6-to-16-2-billion

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Annual Risk Inflows Decline for First Time in Decades

After a decades-long history of increases, overall risk inflows declined slightly in 2019 dropping by 4.5 percent year on year, according to Plan for Life’s Life Insurance Risk Premium Inflows and Sales for the year ended December 2019 report.

Source: RiskInfo
riskinfo.com.au/news/2020/04/28/annual-risk-inflows-decline-for-first-time-in-decades

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Cost of Delivering Life Insurance Advice – Advisers Must Act

The white paper: Cost and efficiency of delivering life insurance of advice, was prepared by research firm, Plan For Life. It explores the various components of the advice process as it applies to both new and existing clients and outlines the time and costs associated with each of the advice process components.

Source: RiskInfo
https://riskinfo.com.au/news/2019/12/12/cost-of-delivering-life-insurance-advice-advisers-must-act/

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Risk Sales Continue to Decline

Latest quarterly data released by Plan For Life confirms the continuation of recent trends reflecting static overall premium inflows and falling new business sales. For the twelve months to the end of June 2019, the research firm reports growth in premium risk inflows “…almost ground to a halt over the past year, only increasing by a relatively marginal 0.8%.”

Source: RiskInfo
https://riskinfo.com.au/news/2019/11/04/risk-sales-continue-to-decline/

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