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CLAIMS
People & Products
AMP superannuation members will transition to TAL’s insurance offering in Q2 2024, while the insurer has appointed a new chief claims officer from Westpac....
Expert Analysis
With claims handling moving into a front-line service, it is vital for the insurance industry to balance digitisation with human empathy, writes Jenny Oliver....
Life/Risk
Fewer claims would need to be paid if insurers were to only pay medical bills of sick workers, according to Maurice Blackburn Lawyers. ...
Superannuation
The funds are analysing data to identify members and employers in bushfire areas to provide support....
Life/Risk
Legislation surrounding the regulation of claims handling may have insurers and related parties look to fall under a single Australian Financial Services License to ease ...
Life/Risk
The Australian Prudential Regulation Authority has produced data confirming the value of life/risk advisers at claim time....
Life/Risk
ASIC has found that 60% of ‘activities of daily living’ claims are declined and AMP, Asteron, and Westpac had decline rates higher than expected....
Life/Risk
A major insurer has backdated an update of two of its outdated medical definitions, meaning consumers who had their claim rejected previously may be able to get a new dec...
Expert Analysis
Delays, both unreasonable and not, are entrenched deeply in the insurance claims process. Col Fullagar outlines why these delays occur and the deep damage they can cause ...
Policy & Regulation
Urgent reform is needed to prevent insurers unfairly denying claims, according to the Australian Lawyers Alliance. ...
Policy & Regulation
Life insurance companies are now under a legal obligation to provide consistent data on claims and disputes to the Australian Prudential Regulation Authority and the Aust...
Tech
MetLife Australia has launched digital claims tracker to allow claimants to manage and track their claims....
Life/Risk
An additional layer of assistance to help consumers make a claim would add more confusion and would be seen as a way to discourage consumers from making a claim, a panel ...
News
ASIC will soon request claims outcome data from life insurers as part of their 2017 industry review, according to Peter Kell, Deputy Chair of ASIC. ...
Financial planning
The wealth division of CBA has rejected suggestions it deliberately avoids paying customers in its claims handling department in its opening remarks to the PJC....
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MARKET INSIGHTS
Podcast
Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...
This verdict highlights something deeply wrong and rotten at the heart of the FSCP. We are witnessing a heavy-handed, op...
Interesting. Would be good to know the details of the StrategyOne deal....