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Showing 21 - 30 of 51 results for "Life Insurance Claims"

High claims acceptance among insurers: Report

ELIZA BAVIN  |  THURSDAY, 14 NOV 2019
APRA and ASIC data has shown that 94% of life insurance claims from the major insurers were accepted over the year to June 2019, though with significance variance between cover types. The regulators have come together to publish data on life insurance ...

Return to the mutual model: Expert

ELIZABETH MCARTHUR  |  THURSDAY, 3 OCT 2019
... and industry more broadly. The revelations around conflicted financial advice and denial or avoidance of life insurance claims that were highlighted during the Commission, Daniels said, stress the misalignment of internal interests within financial institutions. ...

Group insured, advised clients better off

HARRISON WORLEY  |  FRIDAY, 28 JUN 2019
A joint-project on life insurance claims and disputes has revealed group insured and advised clients are better off when it comes to life policies. Just the second publication to use the full data set from ASIC and APRA's initiative since its launch ...

Regulators name laggard life insurance providers

KARREN VERGARA  |  MONDAY, 1 APR 2019
While the majority of life insurance claims are paid in the first instance (92%), the wait and resolution times vary significantly across providers, a joint study by the regulators found. AMP (eight months) and Westpac (three months) take the longest ...

Regulators unite for life insurance transparency

HARRISON WORLEY  |  FRIDAY, 29 MAR 2019
A joint project between Australia's financial services regulators has found about 92% of life insurance claims are successful first time round. It has also seen the development of an online comparison tool tracking the performance of life insurers. ...

MetLife partners with industry fund for digital tool

HARRISON WORLEY  |  TUESDAY, 28 AUG 2018
... tracking and lodgment for fund members. Statewide Super partnered with MetLife to launch the new digital life insurance claims platform, which will allow the fund's 140,000 members to scan and upload documents from their smartphone or tablet. MetLife ...

Life insurance data improving: Regulators

HARRISON WORLEY  |  FRIDAY, 25 MAY 2018
... experience higher claim submission rates. The second round of pilot phase data also found more than 90% of life insurance claims that go to decision are paid in the first instance, which according to regulators is a finding consistent with previous data ...

Royal Commission seeks further disclosure over financial misconduct

DARREN SNYDER  |  MONDAY, 12 FEB 2018
... emerged from 385 public submissions including inappropriate financial advice and inappropriate dealing with life insurance claims. Orr explained there are also submissions from both financial institutions and the general public that display a frustration ...

Life insurer definitions clashing: Regulators

KARREN VERGARA  |  TUESDAY, 14 NOV 2017
... Kell said the analysis of this initial data reinforces the findings of ASIC's Report 498 - that over 90% of life insurance claims are paid in the first instance by insurers. Kell flagged the importance of the project as a "significant priority" to the ...

Advice industry compensation bill hits $37m

KARREN VERGARA  |  FRIDAY, 27 OCT 2017
... handling practices, which prompted the need to work with APRA to establish a public reporting framework for life insurance claims data scheduled for 2017-18. This will also cover the sale of direct, non-advised life insurance, claims handling for total ...