There’s also plenty of disagreement among insurers on the role of online “aggregators”.

Calliden CEO Nick Kirk says Australian insurance brands are likely to splinter online in pursuit of increased market share, leading to consumer confusion and paving the way for UK-style aggregators. (Aggregator websites provide British consumers with price comparisons between different insurers’ policies.)

But CGU CEO Duncan West told the ANZIIF breakfast briefing any aggregators in the Australian market would struggle to attract the backing of the major players in a consolidated market.

“It’s far from a done deal that aggregators will come in as they can’t get major brands on their site,” Mr West said.

Mr Kirk says smaller insurers, brokers and cluster groups are all capable of entering the aggregator market.