{"id":75792,"date":"2025-02-18T19:03:14","date_gmt":"2025-02-18T08:03:14","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=75792"},"modified":"2025-02-21T11:54:11","modified_gmt":"2025-02-21T00:54:11","slug":"latest-poll-new-business-premium-discounting","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2025\/02\/18\/latest-poll-new-business-premium-discounting\/","title":{"rendered":"Latest Poll \u2013 New Business Premium Discounting"},"content":{"rendered":"<div id=\"polls-339\" class=\"wp-polls\">\n\t\t<div class=\"pollHeader\"><strong>I\u2019m ok if my preferred insurers offer my clients a choice of premium payment structures which include upfront discounting.<\/strong><\/div><div id=\"polls-339-ans\" class=\"wp-polls-ans\"><ul class=\"wp-polls-ul\">\n\t\t<li>Disagree <small>(58%)<\/small><div class=\"pollbar\" style=\"width: 58%\" title=\"Disagree (58% | 96 Votes)\"><\/div><\/li>\n\t\t<li>Agree <small>(35%)<\/small><div class=\"pollbar\" style=\"width: 35%\" title=\"Agree (35% | 58 Votes)\"><\/div><\/li>\n\t\t<li>Not sure <small>(7%)<\/small><div class=\"pollbar\" style=\"width: 7%\" title=\"Not sure (7% | 12 Votes)\"><\/div><\/li>\n\t\t<\/ul><div style=\"text-align: center\"><\/div><\/div>\n\t\t<input type=\"hidden\" id=\"poll_339_nonce\" name=\"wp-polls-nonce\" value=\"9839af392a\" \/>\n<\/div>\n\n<p>Our latest poll seeks your view on the sometimes contentious issue of upfront premium discounting on new business and is sparked by this week\u2019s announcement of a new premium structure option launched by Zurich (see: <a href=\"https:\/\/riskinfo.com.au\/news\/2025\/02\/18\/zurich-launches-flatter-pricing-option\/\" target=\"_blank\" rel=\"noopener\">Zurich Launches \u2018Flatter Pricing\u2019 Option<\/a>).<\/p>\n<p>The sector appears to hold divergent views on this issue. Many are critical of upfront premium discounting because of the regular incidences of significant premium increases for stepped premium policy holders once the discount period has ended.<\/p>\n<p>Others, including many advisers, appear to support the practice of upfront premium discounting as evidenced by the large volume of new business written on these terms.<\/p>\n<blockquote><p>What should insurers be expected to do?<\/p><\/blockquote>\n<p>What should insurers be expected to do? Must they end the practice of upfront discounting? One argument says \u2018yes\u2019 to this proposition, in order to protect the client from sometimes unmanageable pricing increases down the track, while others would argue that insurers are simply catering to demand imperatives set by a large cohort of advisers who vote with their feet in selecting the discount premium pathway at commencement.<\/p>\n<p>The Zurich initiative we\u2019ve reported this week effectively offers advisers and their clients a choice as to which premium structure they wish to adopt \u2013 with some client choices informed by the length of time they\u2019re seeking to hold the insurance cover.<\/p>\n<p>While there are plenty more scenarios we could paint \u2013 we\u2019re offering you the opportunity to have your own say \u2013 by your vote and by leaving your comments, if you wish.<\/p>\n<p>Tell us what you think, and we\u2019ll report back next week&#8230;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Our latest poll seeks your view on the sometimes contentious issue of upfront premium discounting on new business and is sparked by this week\u2019s announcement of a new premium structure option launched by Zurich (see: Zurich Launches \u2018Flatter Pricing\u2019 Option). The sector appears to hold divergent views on this issue. Many are critical of upfront [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":75796,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[49,8271,4],"tags":[],"class_list":{"0":"post-75792","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-polls","8":"category-pricing","9":"category-products"},"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/75792","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=75792"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/75792\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media\/75796"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=75792"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=75792"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=75792"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}