{"id":19677,"date":"2013-03-12T17:54:03","date_gmt":"2013-03-12T07:54:03","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=19677"},"modified":"2013-03-13T06:29:36","modified_gmt":"2013-03-12T20:29:36","slug":"reinsurer-advocates-more-customer-focused-solutions","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2013\/03\/12\/reinsurer-advocates-more-customer-focused-solutions\/","title":{"rendered":"Reinsurer Advocates More Customer-Focused Solutions"},"content":{"rendered":"

Reinsurance firm, Swiss Re<\/a>, has flagged the importance of\u00a0delivering more customer-focused solutions in order to\u00a0address the underinsurance dilemma in Australia.<\/p>\n

Swiss Re’s Head of Life\u00a0and Health, Australia\u00a0and NZ, Helen Troup<\/strong>, says\u00a0she believes the best way to close the underinsurance gap is to place\u00a0more emphasis on partnering with insurers to develop solutions for the end user of the products for which they assume the risk – the consumer.<\/p>\n

Historically, reinsurance firms have not been perceived by the industry\u00a0as embracing the consumer point of view; instead focusing on\u00a0pricing structures, claims experience and key\u00a0technical information provided to them by their life company clients.\u00a0\u00a0But Ms Troup suggests that, in order to address the underinsurance dilemma,\u00a0reinsurers need to have a deeper understanding of what motivates the individual consumer.\u00a0 She told riskinfo that a closer, three-way,\u00a0relationship between consumers, insurers\u00a0and reinsurers can have a positive impact on the underinsurance gap, which would manifest itself, amongst other initiatives,\u00a0in two key areas:<\/p>\n

    \n
  1. More innovative, customer-focused product design<\/li>\n
  2. New and\/or enhanced delivery methods\u00a0of life insurance products to policy owners and lives insured<\/li>\n<\/ol>\n
    this changing environment “… presents opportunities for the industry to deliver better ‘generational’ solutions…”<\/h6>\n

    Ms Troup emphasised that the broader life insurance industry is undergoing fundamental change –\u00a0impacted by new regulations, new technology and changing community attitudes.\u00a0 She\u00a0says this changing environment “… presents opportunities for the industry to deliver better ‘generational’ solutions for different community sectors; from the\u00a0younger, tech-savvy client through to the mature age consumer, who is seeking\u00a0life insurance solutions that will more closely reflect\u00a0their changing circumstances as they\u00a0transition to\u00a0retirement.”<\/p>\n

    Ms Troup will be speaking on the main platform at the 2013 FSC Life Insurance Conference<\/a>, being held in Sydney on 21 March.\u00a0 She will be joined by Marc Lieberman<\/strong> – CEO of Metlife, and Duncan West<\/strong> – Executive General Manger of Insurance, MLC, in discussing\u00a0the topic: ‘Transforming the industry to meet the needs of a new generation<\/em>‘.<\/p>\n

    riskinfo will report key initiatives from Swiss Re and other reinsurance firms that reflect what may be the beginning of a new ‘conversation’ between reinsurers and consumers.<\/p>\n","protected":false},"excerpt":{"rendered":"

    Reinsurance firm, Swiss Re, has flagged the importance of\u00a0delivering more customer-focused solutions in order to\u00a0address the underinsurance dilemma in Australia.<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":{"0":"post-19677","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-general"},"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/19677","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=19677"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/19677\/revisions"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=19677"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=19677"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=19677"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}