POWERED BY MOMENTUM MEDIA
Claims handling key for life insurer
In survey results which will come as no surprise to life/risk advisers, clients have been found to dislike large premium increases and poor claims handling but to appreciate good communication and faster payment of claims.
The survey, conducted by the Insurance Watch website, looked at client reviews of insurers in the life insurance sector, and noted that the largest number of complaints related to the treatment of claims, particularly where long payment delays were involved.
The survey pointed to insurers getting better marks from clients when they delivered clear and regulator communications, allowed clients to speak to a real person, allowed them to access policy details online and delivered well-priced cover.
“What reviewers disliked were large premium increases, long waits on the phone, not being called back and being bounced from consultant to consultant,” Insurance Watch managing director, Wally Ripper said.
The web site judged the top three life insurance companies in 2018 to be:
- ClearView
- AIA
- OnePath
Recommended for you
The $135 billion fund has transitioned away from TAL Life Insurance following an “extensive tender process”.
The $80 billion fund is facing legal action over allegedly signing up new members to income protection insurance by default without active member consent.
In a Senate submission, the Financial Services Council has once again called for further clarification that the government will assess the consumer outcomes of group insurance against the enshrined objective of superannuation.
TAL has launched a digital solution TAL Connect for its superannuation fund partners that links super and insurance for members, with Aware Super as its launch partner.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI First Close USD
66.99 3 y p.a(%)
2
Hills International
62.62 3 y p.a(%)
3
Acadian Global Equity Long Short Class A
33.20 3 y p.a(%)
4
DomaCom 4/27 Crombie Avenue Bundall QLD 4217 Australia
32.95 3 y p.a(%)
5
CFS FC Acadian Global Equity Long Short
32.82 3 y p.a(%)
Add new comment