Part of ongoing research by Zurich offers us glimpses into the minds of risk industry participants, this time financial advisers that deal primarily with risk insurance.
The Risk Adviser Sentiment Index showed us a small improvement in advisers' views on the risk industry across most key indicators. This is the first time in three years that the trend has been upward instead of downward, coinciding with the past few years of intense industry upheaval and changes to many important facets of doing business in the risk market, including remuneration.
The survey covered 209 Australian financial advisers in February 2017, with adviser sentiment showing the following trends:
- Current sales volumes (up from 4.2 to 4.3)
- Anticipated sales volumes (up from 4.4 to 4.6)
- Life insurance regulatory environment (up from 2.5 to 2.8)
- Long-term practice viability (up from 4.9 to 5.0)
- Consumer demand (declined from 4.5 to 4.4)
All metrics are lower than when the study was commenced in 2011, with consumer demand metrics hitting a high of 5.0 in December 2013.