It reveals the rate for TPD claims admitted for the 12-month period under individual non-advised claims rose from 59 percent in 2018 to 67 percent in the 2019 year.<\/p>\n
In turn, the individual advised TPD claims admitted slipped from 87 percent in 2018 to 81 percent for the latest 12 month period. (See: Latest APRA Claims Data Reinforces Adviser Value<\/a>).<\/p>\n The data also shows that the percentage of TPD claims admitted under the Group Super channel rose from 88 percent in 2018 to 91 percent in the latest year while the Group Ordinary percentage admitted under TPD rose from 68 percent to 86 percent.<\/p>\n Looking at the claims paid ratio for the 12 months to December 2019 (the dollar amount of claims paid out as a percentage of the annual premiums receivable<\/em>), the individual non-advised TPD ratio rose to 58 percent – up from 28 percent a year earlier – while the individual advised claims paid ratio remained at the same level as 2018 at 45 percent.<\/p>\n The Group Super TPD claims paid ratio also rose, from 71 percent to 85 percent, as did the TPD Group Ordinary ratio, from 25 percent in 2018, up significantly to 61 percent in 2019.<\/p>\n APRA says in its statement that the data is the product of \u201c…a world-leading joint project\u201d between APRA and ASIC, aimed at making it easier to compare life insurers\u2019 performance in handling claims and disputes. This is the fourth publication using the full data set since it was launched in March 2019.<\/p>\n It says its publication presents the key industry and entity-level claims and disputes outcomes for 20 Australian life insurers writing direct business.<\/p>\n![\"\"](\"https:\/\/riskinfo.com.au\/news\/files\/2020\/04\/Apra-2019-stats.png\")
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