{"id":58696,"date":"2021-11-30T12:24:21","date_gmt":"2021-11-30T01:24:21","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=58696"},"modified":"2024-10-30T08:44:15","modified_gmt":"2024-10-29T22:44:15","slug":"individual-risk-new-business-trends","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2021\/11\/30\/individual-risk-new-business-trends\/","title":{"rendered":"Individual Risk New Business Trends"},"content":{"rendered":"<p><a href=\"https:\/\/www.pflresearch.com\/\" target=\"_blank\" rel=\"noopener\">Plan for Life<\/a> has reaffirmed its quarterly data in relation to individual risk new business growth trends and provided additional clarification around what is included in its data (see:<a href=\"https:\/\/riskinfo.com.au\/news\/2021\/11\/23\/risk-new-business-sales-continue-recovery\/\" target=\"_blank\" rel=\"noopener\">Risk New Business Sales Continue Recovery<\/a>).<\/p>\n<p>The research firm told <em>Riskinfo<\/em> it should be kept in mind that the \u2018sales\u2019 statistic it reports is a combined measure of increases in Inforce Annual Premiums and new sales of Single Premium policies (such as consumer credit).<\/p>\n<p>It says the former includes both new policy sales and any increases relating to existing policies such as age or CPI Indexation.<\/p>\n<p>The firm also notes that more than 70 percent of the reported \u2018sales\u2019 were actually increases on existing policies rather than actual new policies sold.<\/p>\n<p>Plan for Life explains that Individual Risk Sales hit a low point during the March 2020 quarter (as Covid started to spread through Australia) \u201c&#8230; and have subsequently recovered somewhat, with much of the growth being driven by smaller players&#8230;&#8221;<\/p>\n<p>It adds the March 2020 result will continue to impact annual percentage growth rates for the next few quarters &#8220;&#8230;after which the extent of any turnaround can be more accurately judged.&#8221;<\/p>\n<p>There has been a significant drop in the Direct\/Non-Advised Risk market since 2017 however this has also shown recent signs of stabilising, the firm says.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Plan for Life has reaffirmed its quarterly data in relation to individual risk new business growth trends and provided additional clarification around what is included in its data (see:Risk New Business Sales Continue Recovery). The research firm told Riskinfo it should be kept in mind that the \u2018sales\u2019 statistic it reports is a combined measure [&hellip;]<\/p>\n","protected":false},"author":24,"featured_media":58699,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-58696","post","type-post","status-publish","format-standard","has-post-thumbnail","category-general"],"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/58696","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\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/comments?post=58696"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/58696\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media\/58699"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=58696"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=58696"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=58696"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}