CommInsure to reward customers
Simon Swanson
Insurance giant CommInsure is rewarding its loyal customers by giving them over $1.2 billion worth of free additional life insurance cover over the next month.
Starting from October 1, 2007, eligible members under CommInsure’s Loyalty Bonus Benefit will be rewarded with a 5 per cent increase in benefits paid at the time of claim at no extra cost to the customer. Over 40,000 customers are expected to benefit from the bonus within the first year.
The bonus will cover customers who have maintained their Life Care, Total Permanent Disability Cover and Trauma Cover with the insurer for five years or more since 2002.
Managing director of CommInsure Simon Swanson said the program was an important aspect in maintaining the loyalty of customers and advisers, and vital to the success of the business.
“I want to ensure that through these reward schemes we are demonstrating to our customers and advisers that we appreciate their business,” Swanson said.
“The Loyalty Bonus Benefit is unique to the market — there are no other insurers that offer a loyalty bonus on such a large scale.”
According to Swanson, CommInsure has a history of rewarding customer loyalty and since 2005 has given customers who have maintained their Income Protection cover for three years or more an extra $50,000 worth of free accidental life cover, with an incremental increase of $10,000 each year, up to a total of $100,000 at no extra cost.
“We will continue to improve our service and our products to meet and exceed the market’s expectation,” Swanson said.
Recommended for you
Net cash flow on AMP’s platforms saw a substantial jump in the last quarter to $740 million, while its new digital advice offering boosted flows to superannuation and investment.
Insignia Financial has provided an update on the status of its private equity bidders as an initial six-week due diligence period comes to an end.
A judge has detailed how individuals lent as much as $1.1 million each to former financial adviser Anthony Del Vecchio, only learning when they contacted his employer that nothing had ever been invested.
Having rejected the possibility of an IPO, Mason Stevens’ CEO details why the wealth platform went down the PE route and how it intends to accelerate its growth ambitions in financial advice.
