Group insurance faces 'perfect storm'BY JAMES FERNYHOUGH | THURSDAY, 21 NOV 2013 12:10PMThe current travails of the group insurance market may be just the beginning, with a "major blow-up" potentially around the corner, according to WA Super's general manager, client services, Paul Owen. Related News |
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Fiona Macgregor
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Fiona Macgregor has risen through the ranks at TAL, taking the top job in 2024, but her life was touched by the insurance sector long before her tenure with the life insurer began. Eliza Bavin writes.
The Financial Standard podcast Tune in each week as we discuss the latest developments in Australia's wealth management industry. |  |
Its really difficult to understand the industry bemoaning what has been on the horizen for 10 years....insurers have artifically driven down premium rates in order to achieve "market share"' and the super funds have, in the main, made price king. Lets face it, lawyers were always going to get involved in this industry, it was just a matter of time before Australia followed the USA in becoming a litigious society; and the Group Life industry has been pretty stagnant for any number of years in its product development; playing with the edges of the product, with little innovation to meet the needs of modern society; especially around this major issue of mental health.