{"id":19656,"date":"2013-03-12T18:27:05","date_gmt":"2013-03-12T08:27:05","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=19656"},"modified":"2013-03-13T06:15:20","modified_gmt":"2013-03-12T20:15:20","slug":"sustainability-and-client-health-checks","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2013\/03\/12\/sustainability-and-client-health-checks\/","title":{"rendered":"Sustainability and Client Health Checks"},"content":{"rendered":"<p style=\"text-align: center\"><a href=\"https:\/\/riskinfo.com.au\/polls\/sustainability-and-client-health-checks\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/riskinfo.com.au\/news\/files\/2009\/05\/vote-now.jpg\" alt=\"Vote Now!\" width=\"108\" height=\"47\" border=\"0\" \/><\/a><\/p>\n<p>The suggestion that\u00a0insurers may\u00a0consider performing health checks on aging\u00a0lives forms the basis of our latest poll, where we ask:<\/p>\n<p><em><strong>Do you support the concept of client health checks to help ongoing insurance affordability?<\/strong><\/em><\/p>\n<p><!--more-->AMP&#8217;s CEO, <strong>Craig Dunn<\/strong>, floated the idea of customer health checks earlier this week, in an article appearing in\u00a0the Financial Review.\u00a0Mr Dunn suggested that, in\u00a0reassessing the health of the insured person, life companies\u00a0would be able to better determine\u00a0the relationship between premium pricing and associated risk &#8211;\u00a0the desired outcome being the ability to minimise premium increases on aging\u00a0lives, thereby contributing to future\u00a0policy\u00a0affordability and greater retention rates.<\/p>\n<p>Mr Dunn&#8217;s suggestion is positioned within a broader conversation about ongoing industry sustainability.\u00a0Specifically, <a href=\"https:\/\/www.credit-suisse.com\/au\/en\/\" target=\"_blank\">Credit Suisse Australia<\/a>, in releasing its seventh &#8216;Life Insurance Annual&#8217; late last year, highlighted three key factors that were combining to raise concerns about ongoing industry sustainability:<\/p>\n<ol>\n<li>A statistically significant increase in lapse rates in recent years<\/li>\n<li>An increase in &#8216;experience losses&#8217;, particularly in income protection product claims<\/li>\n<li>Little evidence of price adjustments in the market in order to\u00a0address these two factors<\/li>\n<\/ol>\n<p>Neither Mr Dunn nor anyone else is advocating that\u00a0health checks on ageing clients is\u00a0the\u00a0answer to the question of industry sustainability, but perhaps it may be part of the solution.\u00a0 But are there any adverse\u00a0implications that may accompany such an initiative, such as the potential for increased pricing elsewhere within an insurer&#8217;s\u00a0book of business?<\/p>\n<p>This idea is worthy of\u00a0further discussion and we are keen to hear\u00a0your views&#8230;<\/p>\n<p style=\"text-align: center\"><a href=\"https:\/\/riskinfo.com.au\/polls\/sustainability-and-client-health-checks\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/riskinfo.com.au\/news\/files\/2009\/05\/vote-now.jpg\" alt=\"Vote Now!\" width=\"108\" height=\"47\" border=\"0\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The suggestion that\u00a0insurers may\u00a0consider performing health checks on aging\u00a0lives forms the basis of our latest poll, where we ask: Do you support the concept of client health checks to help ongoing insurance affordability?<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,49],"tags":[],"class_list":{"0":"post-19656","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-general","7":"category-polls"},"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/19656","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/comments?post=19656"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/19656\/revisions"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=19656"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=19656"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=19656"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}