Regtech solution at TAL
25 November 2019
TAL is implementing voice recognition software across all its phone-based sales calls, feeding directly into the insurer’s quality assurance program...
Life Insurance
Capital raising for Resolution
25 November 2019
Resolution Life has raised $US3 billion over the past 14 months to use for further acquisitions or reinsurance...
Premium waivers for AIA and CommInsure customers
25 November 2019
AIA and CommInsure customers who have been affected by bushfires in Queensland and New South Wales will have their premiums waived, the insurer says...
TAL launches specialised diabetes cover
25 November 2019
TAL is launching an insurance policy for diabetes sufferers that rewards them with premium reductions if they take care of their health...
SIS Act amendments to fix reform contradictions
18 November 2019
The Federal Government is planning to amend insurance in super rules in the Superannuation Industry Act to fix some of the contradictions created by the insurance in super reforms...
Confusion over payments for members caught by PYS
18 November 2019
Some super funds have established an ex-gratia payment pool for members who have unknowingly lost insurance cover from the Protecting Your Super bill and made claims. But others are taking a “hard-line approach”...
APRA releases insurance claims statistics
18 November 2019
Significantly more death, total and permanent disability and disability income claims are being declined by insurers if they come from non-advised customers compared to financial advisers...
TAL restructures business
18 November 2019
TAL has realigned its business around individual life, group life and investments lines in response to structural changes in the life market...
ASIC compliance exemption starts
18 November 2019
The corporate regulator’s three-year exemption for advisers from their compliance obligations has come into effect...
ASIC communication approach creates challenges: MLC
18 November 2019
Regulator warnings over life insurers’ communications about insurance in super are “difficult to reconcile” with the preferences of younger generations, according to MLC Life Insurance...
TAL defends subsidiary in 'spam' uproar
18 November 2019
TAL is defending itself against accusations that a subsidiary is sending unsolicited emails in a campaign encouraging people to take up funeral insurance in return for bonus gifts...
Market withdrawal possible under draft regulations: FSC
11 November 2019
Insurers may decide to withdraw group insurance coverage for small retail clients and super fund trustees if they are caught in the Treasury’s draft design and distribution obligations, the Financial Services Council warns...
AFCA backs goodwill gesture and 'stress' refusal
11 November 2019
The Australian Financial Complaints Authority has backed a goodwill gesture by OnePath to refund the entire premium of a life policy after a customer claimed it had breached its promise to respond quickly to an enquiry...
ASIC data project identifies churning
11 November 2019
Queensland adviser Mark Alexander Rothnie has been banned for three years by the Australian Securities and Investments Commission for churning clients through insurance policies...
Group risk inflows reveals winners and losers
11 November 2019
Growth in life insurance inflows have flatlined over the past year, increasing by only 0.8% over the whole industry, according to Plan For Life research...
FPA elects trio to its board
11 November 2019
The Financial Planning Association has appointed a new board member and re-elected two others...
FPA charity increases grants
11 November 2019
The Financial Planning Association’s charity arm Future2 has awarded $191,066 in new grants this year, a 5% increase from 2018...
AIA hands over first payment for CommInsure
04 November 2019
The Commonwealth Bank has received its first cash payment of $500 million from AIA for the sale of CommInsure Life...
ASIC urges care over how super funds explain opting-in
04 November 2019
The Australian Securities and Investments Commission is urging super funds to improve their communication to members about the Putting Members First bill on opt-in insurance in super...
Lost life revenue hits Westpac cash earnings
04 November 2019
Westpac’s decision to abandon the financial advice sector has caused a 4% drop in cash earnings from reduced life insurance premiums and higher insurance claims...