{"id":51642,"date":"2020-08-18T14:35:02","date_gmt":"2020-08-18T04:35:02","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=51642"},"modified":"2020-08-19T07:26:53","modified_gmt":"2020-08-18T21:26:53","slug":"pandemic-driving-hnw-clients-to-get-life-insurance","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2020\/08\/18\/pandemic-driving-hnw-clients-to-get-life-insurance\/","title":{"rendered":"Pandemic Driving HNW Clients to Get Life Insurance"},"content":{"rendered":"<p>High-net-worth Australian investors panicked by the spread of Covid-19 are buying life insurance. However, trust in insurance providers remains low, says data and analytics company <a href=\"https:\/\/www.globaldata.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">GlobalData<\/a>.<\/p>\n<p>The company&#8217;s 2020 Global Wealth Managers Survey shows the pandemic is driving Australian demand for life insurance products with 88 percent of wealth managers reporting increased demand for life products \u2013 the highest proportion among the 19 countries surveyed by the firm.<\/p>\n<p><strong>Heike van den Hoevel<\/strong>, Senior Wealth Management Analyst at GlobalData, says: \u201cIn the face of growing concerns surrounding infections, Australian investors are looking for ways to care for their families.<\/p>\n<p>\u201cRoughly half of the wealth managers GlobalData surveyed expect demand to continue to rise over the coming year, while virtually none expected demand to fall.<\/p>\n<p>\u201cHowever, the lack of trust in insurance providers continues to have a significant effect on the provider selection. The crisis has been a double-edged-sword &#8211; Covid-19 is driving demand but has also had a negative impact on the insurance providers&#8217; image.&#8221;<\/p>\n<p>According to GlobalData\u2019s proprietary data, 96 percent of wealth managers agree that customers have lost confidence in the life insurance industry as a result of the Covid-19 pandemic.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>High-net-worth Australian investors panicked by the spread of Covid-19 are buying life insurance. However, trust in insurance providers remains low, says data and analytics company GlobalData. The company&#8217;s 2020 Global Wealth Managers Survey shows the pandemic is driving Australian demand for life insurance products with 88 percent of wealth managers reporting increased demand for life [&hellip;]<\/p>\n","protected":false},"author":23,"featured_media":51646,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":{"0":"post-51642","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-general"},"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/51642","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\/23"}],"replies":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/comments?post=51642"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/51642\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media\/51646"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=51642"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=51642"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=51642"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}