TAL’s AI underwriting tool wins global prize
18 June 2018
TAL has won a global award for its WunderWriter tool, which uses artificial intelligence and machine learning to audit underwriting cases…
Life Insurance
AIA questions group cover opt-in
12 June 2018
AIA warns an insurance in superannuation opt-in model for young people would provide minimal additional savings, but could have devastating implications in the event of injury or illness…
Income protection king of the ‘zombie’ policies
12 June 2018
Income protection cover has been labelled poor value and the “chief culprit” in superannuation members being unable to make claims…
AMP wants lawsuits consolidated as more firms join fray
12 June 2018
Slater & Gordon and Maurice Blackburn are the latest law firms to file a class action against AMP, which has called for a consolidation of the lawsuits it faces over alleged financial misconduct…
FSC spruiks $1 billion saving through rehab role
12 June 2018
Life insurer funding of illness and injury recovery programs could save the Government $1.2 billion in healthcare costs over the next two decades, an industry study shows…
Integrity sells stake to Japanese insurer
12 June 2018
Japan’s Daido Life has acquired a 14.9% stake in Integrity Life for $13 million…
AMP begins rebuilding board
12 June 2018
John O’Sullivan has been appointed to the AMP board as a non-executive director…
FPA conference open for registration
12 June 2018
Registrations are open for the Financial Planning Association Professionals Congress, from November 21-23 at the International Convention Centre in Sydney…
Group cover code ‘well short’ of best practice
04 June 2018
The Productivity Commission has outlined room for improvement in the voluntary code of practice for providing insurance within superannuation…
ANZ offloads OnePath NZ
04 June 2018
ANZ will sell its OnePath New Zealand life business to specialist insurer Cigna for $NZ700 million…
NobleOak secures Canstar direct value hat-trick
04 June 2018
NobleOak has won the Canstar direct life insurance outstanding value award for the third year running…
ASIC bans former AMP adviser
04 June 2018
The Australian Securities and Investments Commission has banned Perth adviser Desmond Winton Luplau from providing financial services for five years…
OnePath opens portals for group clients
04 June 2018
ANZ-owned OnePath has introduced digital portals for trustees and members to access claims information…
FPA pumps annual bike ride
04 June 2018
The Financial Planning Association is calling for people to join its annual charity bike ride and hike…
Investment slump hits life insurers
28 May 2018
Life insurers suffered a 3.5% drop in net profit to $2.2 billion in the year to March as investment revenue took a hit, Australian Prudential Regulation Authority figures show…
Education standards tipped to provoke adviser exodus
28 May 2018
More than half of all financial advisers are expected to exit the industry within the next five years due to new education standards…
Actuaries outline vision for sustainable industry
28 May 2018
Life insurers have been urged to create simplified policies, develop painless claims processes and modernise definitions and benefit structures to create a sustainable industry…
Hayne hearings prompt probe by NZ regulators
28 May 2018
New Zealand life insurers must explain actions taken to address conduct and culture issues as regulators seek to avoid the kind of practices that have tainted their Australian counterparts…
Regulators ‘well advanced’ on claims data reporting regime
28 May 2018
A public reporting regime for life insurance claims information may be ready early next year, as regulators progress through the second round of pilot data collection…
Mitsui buys CBA stake in Chinese insurer
28 May 2018
Commonwealth Bank has sold its 37.5% holding in China’s BoComm Life Insurance for $668 million to Mitsui Sumitomo Insurance…