Category | Products

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PJC Claims FSC, Insurers Slow to Act on Inquiry Report

A Parliamentary Joint Committee inquiry has challenged life insurers and the FSC for their lack of action in dealing with concerns raised at a previous PJC life insurance inquiry, claiming the inaction was further damaging the credibility of the life insurance sector. (more…)

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0 · July 11, 2018 in Associations, Claims, Compliance & Regulation, Products, Services  

ClearView Claims Opt-In Regime Hurts Consumers

ClearView Life has repeated its call for all life insurance inside superannuation to be offered on an opt-in basis to all fund members claiming many members are under-insured, unaware of what they are insured for and are paying too much for the cover they receive. (more…)

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0 · July 10, 2018 in Products, Services, Superannuation  
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Integrity Life Names Retail Product Launch Date

Start-up life insurer, Integrity Life will launch its retail products to advisers at the start of October and has recruited a senior executive from TAL to head up its product distribution to financial advisers. (more…)

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0 · July 10, 2018 in Products, Services  

AIA Completes Purchase of CommInsure in NZ

AIA Group, the parent company of AIA Australia and AIA New Zealand has completed the acquisition of Sovereign, CommInsure’s New Zealand life insurance business, on 2 July. (more…)

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0 · July 3, 2018 in Company News, New Zealand, Products, Services  
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Fintech Offers Advisers One Hour Risk SoA

Advisers will be able to produce a life insurance Statement of Advice (SoA) in around an hour, according to fintech provide AstuteWheel, which has launched a new digital life insurance advice tool. (more…)

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0 · June 29, 2018 in Products, Services, Technology  
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ASIC Commences Legal Action Against AMP Over Life Insurance ‘Rewriting’

ASIC has begun court proceedings against AMP Financial Planning (AMPFP) alleging some of its advisers engaged in conduct to rewrite life-insurance business to receive higher commissions, and so breached their best interest duty obligations. (more…)

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6 · June 27, 2018 in Claims, Compliance & Regulation, Products, Remuneration  
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MLC Life Retention Strategy Reduces Lapse Rate

MLC Life Insurance has reduced the level of lapse rates by a quarter for a cohort of financial advisers, following the introduction of specialised client retention managers a year ago. (more…)

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0 · June 26, 2018 in Company News, Products, Services  

ANZ Extends Large Case Discount Offer

ANZ has extended its OneCare Large Case Discount Service for a further three months and will offer a lifetime 10 per cent premium discount to new applications for life cover until the end of September this year. (more…)

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0 · June 26, 2018 in Products, Services  

Individual Lump Sum Sales Continue to Fall

The sales of individual lump sum new life insurance business have slumped to their lowest levels in a year and a half, according to new data released by research house, DEXX&R. (more…)

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3 · June 26, 2018 in Products  

ClearView Updates Electronic Application Tool

ClearView Life has updated its LifeSolutions e-App and improved the classifications for people who do not have a full time job or income. (more…)

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0 · June 25, 2018 in Company News, Products, Services, Technology