Higher Acceptance on Advised Claims
The claims admittance rates for Individual-Advised Death, TPD, Trauma and DII insurance are in some instances markedly higher than the claims admittance rates for Individual Non-Advised claims, the latest data from APRA shows.
The authority...
Rethink the Goal Before Adding AI
Advice practices seeking greater efficiency through artificial intelligence should first reconsider the outcomes they want to achieve, rather than simply add the technology to existing processes, according to general advice practitioner and AI expert,...
TAL Proposes Full Challenger Acquisition
TAL has confirmed it has submitted a non-binding indicative proposal to the Board of Challenger Ltd regarding a potential acquisition of the remaining 79.5% of ordinary shares it does not already own in the...
Paraplanning Reimagined: Embracing AI for Greater Efficiency and Value
Mutual Plans Founder, Silvia Wade, argues that the value of paraplanning for advice practices can be enhanced by leveraging the power of artificial intelligence, countering the contention that AI capability may serve to reduce...
$1.35 Million Fortnum Penalty for Cybersecurity Failures
Fortnum Private Wealth Ltd has been ordered by the Supreme Court of NSW to pay a $1.35 million penalty after admitting it failed to adequately manage cybersecurity risks across its financial advice network.
A statement...
First Two ReCALIbrate Recipients Announced
CALI has named Aisha Elnour and Kristen Agius as the first of 10 ReCALIbrate recipients in its expanded 2026 program "...backing them to help shape what comes next for the risk advice profession."
CALI says...
FAAA Welcomes Action on Financial Abuse
The FAAA has welcomed the Government’s response to the 2024 Parliamentary Joint Committee inquiry into financial abuse and its commitment to working with the financial services sector to better protect Australians.
FAAA CEO, Sarah Abood...
LifeBid, AIA Connect
LifeBid and AIA Australia announcing a new integration partnership making all AIA policies available within the LifeBid platform drew strong reader interest this week...
LifeBid and AIA Australia have announced...
Majority in Favour of Mental Health Opt-Out
The majority of advisers support the proposition that consumers should be able to opt out of cover for mental health-related conditions offered in life insurance products.
This is the headline finding in our latest poll,...
Nearly 10,700 Life Code Breaches Reported
The Life Code Compliance Committee’s latest Annual Report highlights that insurers reported 10,697 code breaches affecting more than 27,000 customers, with recurring problems in claims handling, timely benefit payments, customer communication and complaints handling.
The...
UK Commissions Remain Uncapped – What Can Australia Learn?
Former Zurich senior exec and AFA chief, Philip Kewin, shares his perspectives on the recently-released final report by the UK regulator into the country's life insurance market, its review of risk commissions, and how...
Ban on Use of Adverse Genetic Testing in Life Insurance Starts
The Government’s ban on the use of adverse genetic testing results in life insurance came into effect late last week.
Assistant Treasurer and Minister for Financial Services, Dr Daniel Mulino, says in a statement that...
PPS Mutual Profit-Share Pool Approaches $20 Million
PPS Mutual has announced its 10th consecutive annual Profit-Share allocation, with its Profit-Share pool reaching $19.6 million at the end of the 2025-26 financial year, up 30% on the previous year.
The insurer says a...