RiskeBusiness

RiskeBusiness keeps ALUCA members updated with content related to technical analysis, tools of the trade, doing things differently and smarter analysis.

RiskeBusiness (ReB) ArticlesRiskeBusiness Editions
ReB Articles deliver frequent industry-relevant content, such as technical information and innovations, tools of the trade, and smarter analysis. Earn ALUCA CPD points for reading this content. Read below.

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RiskeBusiness Editions cover diverse topics relevant to life insurance professionals and service providers.   
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RiskeBusiness (ReB) Articles

Risk Info: 2023 Zurich TPD Round Table Parts 1-5

As part of the Risk Info Round Table Series, this industry-wide panel discusses the challenges associated with Total and Permanent Disability Insurance in Australia, such as assessing ‘Permanency’, the rise of mental-illness related TPD Claims and more. Featuring ALUCA Board Member Carmel Twist and ALUCA Life Member (and previous Board Member) Carly Van Den Akker.

Technical life insurance CPD points category

ALUCA CPD POINTS: 1.5 – TECHNICAL

READ more and View Risk Info Zurich TPD Roundtable Videos


PWC: Experience is Everything. Get it Right.

Give customers a great experience and they’ll buy more, be more loyal and share their experience with friends. What truly makes for a good experience? Speed. Convenience. Consistency. Friendliness. And one big connector: human touch—that is, creating real connections by making technology feel more human and giving employees what they need to create better customer experiences.

This fascinating report by PWC reveals a number of key customer insights including the price premium of good customer experience, the impact of bad experiences, what people value most in their customer experience, human vs automated interaction in Australia vs overseas and much more.

Customer life insurance CPD points category

ALUCA CPD POINTS: 1 – CUSTOMER

READ the Key Findings and READ Full Report by PWC


KPMG’s Life Insurance Insights 2023

Unveiled at ALUCA’s Executive Leader Forum in Canberra in October 2023, KPMG’s Life Insurance Insights provides analysis and key figures for the Australian life insurance market based on financial results up to 30 June 2023. This report details industry size, industry profits, product revenue, customer impact and much more.

General Life Insurance CPD points category

ALUCA CPD POINTS: 1 – GENERAL

READ Life Insurance Insights 2023 by KPMG


The Human Technology Institute – Facial Recognition Technology: Towards a model law

In Australia and around the world, facial recognition technology is growing exponentially. Facial recognition technology is used to unlock a smartphone, organise photos of friends and family, in home security systems, at passport control, and in monitoring and surveillance by employers and law enforcement.

While facial recognition is primarily used to identify an individual or to verify that they are who they claim to be, it is increasingly being used also to assess characteristics, such as a person’s age, gender or even emotions. Our law should protect against harmful uses of facial recognition, while also fostering innovation for public benefit.

Regulatory life insurance CPD points category
Professionalism and ethics life insurance CPD points category

ALUCA CPD POINTS 0.75 total: – LEGAL 0.25 + ETHICS 0.50

READ Report Overview and READ Exec Summary pages 6-13 of the Report by The Human Technology Institute – Facial Recognition Technology: Towards a Model Law


The Ethics Centre – On saying “sorry” most readily, when we least need to

A word that can mean little can mean much. This article by The Ethics Centre considers the intentions, perceptions and power behind a word so commonly used in society. Even if we haven’t done wrong technically, we might have had a chance to help, and turned away. Using “sorry” to express true regret—to “repent”—could be the rarest use of “sorry” there is.

Professionalism and ethics life insurance CPD points category

ALUCA CPD POINTS: ETHICS 0.25

READ article by The Ethics Centre


ATLIS 2023 Paper 2nd Runner-Up, ‘REP760: What can we learn from the Silver Screen?’

This paper, by Stuart Wing – Product Manager at REST, analyses ASIC REP760, the learnings to be gleaned and why now is the time for Super Funds and Insurers alike to be placing value for money and the member journey at the front of their collective minds.

General Life Insurance CPD points category

ALUCA CPD POINTS 0.5: GENERAL

READ REP760: What can we Learn from the Silver Screen?


ATLIS 2023 Paper 1st Runner-Up, ‘Redefining the Role of Life Insurance’

This paper, by Vanessa Back – Senior Claims Consultant at RGA, examines the advancements in digital and data capabilities, allowing life insurers to involve themselves in preventative and predictive health solutions for customers in the pursuit of a common goal – to live longer, healthier lives thereby producing a healthier book of business, reducing claims costs and improving industry sustainability.

General Life Insurance CPD points category

ALUCA CPD POINTS 0.5: GENERAL

READ Redefining the Role of Life Insurance


ATLIS 2023 Winning Paper, ‘The Rise of Artificial Intelligence – Life Insurance Implications: Is the Risk Worth the Reward?’

This paper, by Matthew Garrett – Claims Technical Specialist at the Australian Retirement Trust, breaks down the complex issues around AI into an easy to digest analysis of how AI has the capacity to revolutionise life insurance for the good of customer and insurer alike.

Technical life insurance CPD points category
Professionalism and ethics life insurance CPD points category

ALUCA CPD POINTS 0.5 total: – TECHNICAL 0.25 + ETHICS 0.25

READ The Rise of Artificial Intelligence – Life Insurance Implications: Is the Risk Worth the Reward?


The Conversation – Erasing or Replacing Errors in a Patient’s Genetic Code can Treat and Cure Some Genetic Diseases

This recent piece by David Liu, Professor of the Natural Sciences at Harvard University, looks at gene editing as a way to alter sections of a person’s DNA to correct mutations, in the hopes of treating or even curing genetic diseases. The article also discusses the ethical aspects of this new technology.

Technical life insurance CPD points category
Professionalism and ethics life insurance CPD points category

ALUCA CPD POINTS 0.5 total: – TECHNICAL 0.25 + ETHICS 0.25

READ article on Gene Editing by The Conversation


The Conversation – How do Blood Tests Work? Medical Laboratory Scientists Explain the Pathway from Blood Draw to Diagnosis and Treatment

To complement ALUCA’s webinar ‘Understanding Lab Test Results’, this article from The Conversation by Rodney E. Rohde, Regents’ Professor of Clinical Laboratory Science at Texas State University and Nicholas Moore, Associate Professor of Medical Laboratory Science at Rush University, describes how blood specimens are collected, testing pathways, the challenges faced as well as the evolution of medical laboratory testing.

Technical life insurance CPD points category

ALUCA CPD POINTS: 0.5 – TECHNICAL

READ article by The Conversation


The Ethics Centre – Who are You? Why Identity Matters to Ethics

A cornerstone of ethics is our fundamental human need to be recognised for who we are and who we want to be. This article from the Ethics Centre discusses the concept of identity crisis and the ethics of recognition.

Professionalism and ethics life insurance CPD points category

ALUCA CPD POINTS: 0.5 – PROFESSIONALISM AND ETHICS

READ Who are You? Why Identity Matters to Ethics by The Ethics Centre


The Ethics Centre – The New Normal: The Ethical Equivalence of Cisgender and Transgender Identities

This article from the Ethics Centre looks at the complex relationship between sex and gender. What drives clashes is divergence over the metaphysics of sex and gender: what is ‘sex’, really? What is ‘gender’, really? The way we answer these questions shapes our estimation of which people can belong to which group, how people can behave, and in what ways society should recognise our identities. 

Professionalism and ethics life insurance CPD points category

ALUCA CPD POINTS: 0.5 – PROFESSIONALISM AND ETHICS

READ The New Normal: The Ethical Equivalence of Cisgender and Transgender Identities by The Ethics Centre


Latest Medical Advances in Cancer Detection by Pacific Life Re

This report by ALUCA Gold Sponsor Pacific Life Re focuses on new diagnostic techniques aiming to diagnose cancer at earlier stages.

Cancer is easier to treat if it is diagnosed early. Multi-cancer early detection (MCED) tests are being developed which aim to detect cancers at more treatable stages. These tests seek to identify fragments of DNA circulating in blood which have been released by cancers. The ability to diagnose (or rule out) cancer using a simple, minimally invasive test could be extremely valuable. Data from a recent trial sheds light on how effective the technology currently is and what its major limitations are.

Technical life insurance CPD points category

ALUCA CPD POINTS: 0.5 – TECHNICAL

READ Latest Medical Advances in Cancer Detection by Pacific Life Re


Capgemini’s Top Trends in Life Insurance 2023

This report by Capgemini looks at the drivers, opportunities, and risks shaping the life insurance industry in 2023, revealing the tactical and strategic initiatives carriers are undertaking to ensure profitable growth and future readiness.

Life insurance reinvention will continue in 2023 as the industry aims to ensure ongoing relevancy. Pushed by current geopolitical and financial challenges, life insurers remain hyper-focused on system modernisation, digital transformation and innovation to boost customer centricity.

Moreover, worldwide risk awareness sparked by the pandemic has encouraged carriers to personalise solutions and focus on bettering customer lives through financial wellness. We also anticipate firms to continue to invest in intelligent automation, omnichannel distribution, and cloud solutions.

General Life Insurance CPD points category

ALUCA CPD POINTS: 1 – GENERAL

READ Top Trends in Life Insurance 2023 by Capgemini


The Ethics Centre: ESG is not just about ticking boxes, it’s about earning the public’s trust

This article by The Ethics Centre discusses that in order to earn the public’s trust, businesses need to take Environmental, Social and Governance (ESG) standards seriously, and communicate what they’re doing authentically and transparently.

ESG is a framework used to assess a business’s activities and performance on ethical and sustainable issues. This includes an organisation’s ability to safeguard the environment, manage relationships with employees, supply chains and the community, and how company leadership, shareholder rights and internal controls monitor the outcomes. Importantly, the framework serves as a tool to assess how an organisation manages risks and opportunities in our changing world. 

Professionalism and ethics life insurance CPD points category

ALUCA CPD POINTS: 0.5 – PROFESSIONALISM AND ETHICS

READ the article from The Ethics Centre


Australian Institute of Health and Welfare (AIHW): Overweight and Obesity

Based on the latest available data, two in three (67%) of Australian adults are living with overweight or obesity. This is approximately 12.5 million adults. These interactive graphs by the AIHW explores the prevalence of overweight and obesity in Australian children and adults, revealing the variations by population groups, remoteness and socioeconomic areas.

Technical life insurance CPD points category

ALUCA CPD POINTS: 1 – TECHNICAL

READ the AIHW’s Overweight and Obesity Report


Bain & Company – Customer Behaviour and Loyalty in Insurance: Global Edition 2023

The traditional premise of insurance—providing capital to cover risk and reimburse claims—doesn’t fully satisfy anymore. Customers increasingly are looking for help from insurers to reduce and even prevent the risks that pervade their lives.

This detailed report by Bain & Company delves into a desire from consumers globally for more convenient digital tools, more risk-prevention services, a greater value on purpose, personalised experiences and much more.

ALUCA CPD POINTS: 1 – CUSTOMER

READ Customer Behaviour and Loyalty in Insurance: Global Edition 2023


The Ethics Centre – Ethics Explainer: Truth and Honesty

How do we know we’re telling the truth? If someone asks you for the time, do you ever consider the accuracy of your response? This article from the Ethics Centre discusses the theories of truth as well as the ethical aspects of truth and honesty.

Professionalism and ethics life insurance CPD points category

ALUCA CPD POINTS: 0.25 – PROFESSIONALISM AND ETHICS

READ


The Ethics Centre – Ethics Explainer: Trust

Trust forms the foundation for relationships, cooperation, social interaction and the development of societies, but it is equally important as it is dangerous. This article from The Ethics Centre looks at the distinction between trust and trustworthiness, the ethics of trust, as well as defining interpersonal vs institutional trust.

Professionalism and ethics life insurance CPD points category

ALUCA CPD POINTS: 0.25 – PROFESSIONALISM AND ETHICS

READ


World Economic Forum: Global Gender Gap Report

Following ALUCA’s popular International Women’s Day event held last month, we share the World Economic Forum’s Global Gender Gap Report 2022, which benchmarks the current state and evolution of gender parity across four key dimensions (Economic Participation and Opportunity, Educational Attainment, Health and Survival, and Political Empowerment).

After benchmarking 146 countries, the report found it will take another 132 years to close the global gender gap. As crises are compounding, women’s workforce outcomes are suffering and the risk of global gender parity backsliding further intensifies.

So how did Australia and New Zealand rank? Find out:

General Life Insurance CPD points category

ALUCA CPD POINTS: 1 – GENERAL

READ the Global Gender Gap Report 2022 by the World Economic Forum


Cutaneous Melanoma: An Underwriting Primer by Hank George, FALU

Did you know that melanomas are gram for gram the deadliest cancer in humans? This insightful paper by Hank George FALU details useful information for underwriters including Melanoma Pathology Report Analysis, the significance of family history as a risk factor, Melanoma staging, additional prognostic factors and much more.

Hank George, FALU, has been in the life insurance industry for over 40 years, specialising in medical underwriting. He has published over 500 articles and addressed most major life industry organisations in North America and in over a dozen other countries.

Technical life insurance CPD points category

ALUCA CPD POINTS: 1 – TECHNICAL

READ Cutaneous Melanoma Underwriting Primer by Hank George, FALU


Non-Alcoholic Fatty Liver Disease Burden: Australia 2019 – 2030

This article accompanies ALUCA’s recent webinar ‘Non-Alcoholic Fatty Liver Disease‘, a recording of which is available for ALUCA members to view anytime on demand.

Published by the National Center for Biotechnology Information, this piece takes a deep dive analysis into Non-Alcoholic Fatty Liver Disease (NAFLD) and Non-Alcoholic Steatohepatitis (NASH), which accounts for a large and growing proportion of liver disease burden globally. The burden of NAFLD/NASH manifests in increasing levels of advanced liver disease and primary liver cancer in Australia. A Markov model was used to forecast NAFLD burden in Australia through 2030.

Technical life insurance CPD points category

ALUCA CPD POINTS: 1 – TECHNICAL

READ the NCBI’s publication on Nonalcoholic fatty liver disease burden: Australia, 2019-2030



Moray&Agnew Lawyers: A Lesson in Privacy and Changes to Privacy Laws

The recent Optus cyber-attack has brought a renewed focus on the adequacy of Australia’s privacy laws. Is this a matter of non-compliance with the Privacy Act? Or does it highlight the need to implement changes recently proposed?

To accompany ALUCA’s upcoming webinar ‘Privacy Risks and Obligations for Life Insurers‘, this piece by Bill Fragos, Special Counsel at Moray&Agnew Lawyers looks at developments in the area of privacy laws in Australia:

Regulatory life insurance CPD points category

ALUCA CPD POINTS: 0.5 – REGULATORY

READ MORE and READ Handout to Accompany Webinar


Claims 2030: Embracing the Future

The COVID-19 pandemic has spurred innovation and accelerated the pace of technology adoption across industries. It has also expanded our idea of what’s possible, says McKinsey partner Elixabete Larrea—and insurance is no exception.

As technological change accelerates and customer preferences diverge, the future of claims organisations centres on four key trends as outlined in this interesting article from McKinsey:

Technical life insurance CPD points category

ALUCA CPD POINTS: 0.5 – TECHNICAL

READ MORE


World Health Organization: Obesity and Overweight

Overweight and obesity are linked to more deaths worldwide than underweight. Globally there are more people who are obese than underweight – this occurs in every region except parts of sub-Saharan Africa and Asia. With increases in BMI, the risk for noncommunicable diseases increases.

Technical life insurance CPD points category

ALUCA CPD POINTS: 0.5 – TECHNICAL

READ MORE


Deloitte’s 2023 Insurance Outlook

Insurers are facing a host of macroeconomic and geopolitical challenges likely to inhibit growth and profitability – including the looming threat of global recession, continuing fallout from Russia’s invasion of Ukraine and lingering COVID-19 concerns.

While technology and resulting improvements in risk selection and pricing are likely to remain the primary drivers of improved bottom-line performance, insurers should expect to be increasingly judged by stakeholders on their response to broader sustainability priorities such as climate risk, diversity and inclusion, social equity and transparent governance – all of which could become competitive differentiators in the battle for talent, investors and market share.

Technical life insurance CPD points category

ALUCA CPD POINTS: 2 – TECHNICAL

READ the overview and key findings and READ Deloitte’s 2023 Insurance Outlook Report


The Ethics Centre: Finance Businesses Need to Start Using Artificial Intelligence. But it Must Be Done Ethically.

Banking and finance businesses can’t afford to ignore the streamlining and cost reduction benefits offered by Artificial Intelligence (AI).

But AI must be used prudently. Business managers must be meticulous in setting up rules for the algorithms’ decision making to prevent AI, which lacks a human’s inherent moral and ethical guiding force, from targeting ads towards unsuitable or vulnerable customers, or making decisions that exacerbate entrenched racial, gender, age, socio-economic, or other disparities and prejudices.

Professionalism and ethics life insurance CPD points category

ALUCA CPD POINTS: 1 – PROFESSIONALISM AND ETHICS

Read More


The World Health Organisation: COVID-19 pandemic triggers 25% increase in prevalence of anxiety and depression worldwide

In the first year of the COVID-19 pandemic, global prevalence of anxiety and depression increased by a massive 25%, according to a recent scientific brief released by the World Health Organization (WHO). To accompany ALUCA’s upcoming webinar ‘Mental Health: What We Have Learned From COVID‘, the WHO brief highlights who has been most affected and summarises the effect of the pandemic on the availability of mental health services and how this has changed during the pandemic.

Concerns about potential increases in mental health conditions had already prompted 90% of countries surveyed to include mental health and psychosocial support in their COVID-19 response plans, but major gaps and concerns remain.

Technical life insurance CPD points category

ALUCA CPD POINTS: 0.5 – TECHNICAL

READ the WHO Media Release and Brief Summary

READ the WHO’s 2022 Scientific Brief on Mental Health and COVID-19


Worth the Risk: LGBTIQA+ Experiences with Insurance Providers

To accompany ALUCA’s upcoming webinar ‘Worth the Risk: LGBTIQA+ Experiences with Insurance Providers‘, the Victorian Pride Lobby’s report of the same name sets out the legal issues that insurers must take account of in relation to LGBTIQA+ consumers, as well as general sentiments from amongst respondents. This includes respondents’ perceptions of insurance and experience of insurance – from applying to updating details through to claiming and, in some cases, complaining. The report sets out recommended actions that insurers can take to improve practices.

ALUCA CPD POINTS: 1 – CUSTOMER

READ Worth the Risk Report by the Victorian Pride Lobby


Mapping Australian Systems of Income Support: Improving Return to Work, Health and the Customer Experience 

To accompany the ALUCA Rehab Group’s upcoming webinar ‘Walk in in their Shoes – Claims Experiences from Life Insurance Customers‘, The Cross Sector Project Report prepared by professor Alex Collie, Dr Ross Iles and Michael Di Donato of Monash University compares the good, bad and the ugly of different insurance schemes available in Australia, and based on the research, suggests improvements for the future.

Abstract: ‘The systems that societies construct to support work disability prevention can have powerful effects on both the experiences of people with work disability as well as their health and employment outcomes. Comparative studies between jurisdictions provide an opportunity to gain insights into these system level impacts, by comparing system features, processes and experiences; and by determining if jurisdictional variation affects outcomes. In turn, this can prompt policy and practice reform. Reflecting the diversity of work disability systems globally, there is growing interest in cross-jurisdiction comparative research in the field. This special series presents seven articles addressing important methodological and conceptual aspects of comparative research in work disability prevention, and presents practical examples of how jurisdictions vary and the impact this can have on workers.’

In reviewing this article you will note particular themes that correlate with the experiences you will hear from customers in the webinar – such as information sharing and transparency, early intervention and employer engagement.

ALUCA CPD POINTS: 2 – CUSTOMER

READ The Cross Sector Project Report from Monash University


Towards Net Zero: How the World’s Largest Companies Report on Climate Risk and Net Zero Transition

Stakeholders, investors and regulators are now, more than ever, keen to understand how companies are addressing the impact of climate change (both transitional and physical). What risks and opportunities have been identified? What assumptions have been made in their analysis? How have strategies been flexed or redefined to minimise risks and maximise opportunities?

KPMG have conducted a global report of the world’s largest 250 companies, which aims to help corporate reporting, investor relations and sustainability professionals shape their own company’s reporting on climate risk and net zero transition. It may also help investors, lenders, insurers, asset managers and ratings agencies understand the current reporting maturity of the world’s leading global companies and the gaps where improvement is needed.

General Life Insurance CPD points category

ALUCA CPD POINTS: 2 – GENERAL

READ KPMG’S REPORT


Innovation in Underwriting

In line with ALUCA’s ‘Innovation in Underwriting’ webinar are two articles. The first is an article from The Actuaries Institute (Actuaries Digital) from May 2022. This explores how the ever-developing presence of artificial intelligence and automation is changing the landscape of underwriting.

The second article is ‘The Future of Underwriting: The Rise of the Exponential Underwriter’ by Deloitte published Feb 2021 written by Britton van Dalen, Andy Ferris and Kelly Cusick. This reveals how the convergence of data, technology, and human capital can be leveraged to transform underwriting in insurance.

Technical life insurance CPD points category

ALUCA CPD POINTS: 1.0 – TECHNICAL

READ Innovation in Underwriting and READ The Future of Underwriting


Long COVID

The Medilaw Group and mlcoa share a selection of their research updates on any relevant COVID-related peer-reviewed research that is emerging following their webinar on Long COVID.

Technical life insurance CPD points category

ALUCA CPD POINTS: 1.0 – TECHNICAL

READ UPDATE #1 READ UPDATE #2


The Ethics Centre – Ethics Explainer: Pragmatism

This article from the Ethics Centre discusses how Pragmatism is a philosophical school of thought that, broadly, is interested in the effects and usefulness of theories and claims.

Professionalism and ethics life insurance CPD points category

ALUCA CPD POINTS: 0.25 – PROFESSIONALISM AND ETHICS

READ


The Ethics Centre – Ethics Explainer: Negativity Bias

Sometimes life can seem overwhelming. Often, it’s because we can’t help focusing on the bad stuff and forgetting about the good.

Don’t feel too bad. We’re hard-wired to be more impacted by negative events, feelings and thoughts than those things that are positive.

Professionalism and ethics life insurance CPD points category

ALUCA CPD POINTS: 0.25 – PROFESSIONALISM AND ETHICS

READ


The Ethics Centre – Ethics Explainer: Ethics, morality and law

Some people talk about their personal ethics, others talk about a set of morals, and everyone in a society is governed by the same set of laws. They can be easy to conflate.

Knowing the difference and relationship between them is important though, because they can conflict with one another. If the law conflicts with our personal values or a moral system, we have to act – but to do so we need to be able to tell the difference between them.

Professionalism and ethics life insurance CPD points category

ALUCA CPD POINTS: 0.25 – PROFESSIONALISM AND ETHICS

READ


Claims in a Digital Era

This article from EY looks at how Data, analytics and AI are transforming the customer experience. To seize this unique “moment of truth” opportunity to strengthen customer loyalty and boost retention, forward-looking insurers will leverage an expanded set of data and adopt more sophisticated analytical tools and techniques. Indeed, more effective use of data and analytics is one of the best ways for insurers to simultaneously improve financial performance, differentiate from competitors and deliver what customers want, which in claims is a fast, accurate, transparent and personalised experience.

ALUCA CPD POINTS: 0.5 – CUSTOMER

READ


Digital disruption in insurance: cutting through the noise Mckinsey & Co

There is a lot of noise out there. Insurance CEOs constantly hear about digital marketing, digital distribution, digital IT architecture, and digital attackers, as well as digital technologies such as telematics, automation, and machine learning, to name but a few hot topics. What is harder for them to discern is the bigger picture. What does success look like for an insurer in a digital world, and how is it achieved?

ALUCA CPD POINTS: 0.5 – CUSTOMER

READ


Turks Legal Scholarship Papers

We were delighted to receive such a high number of quality papers for the 2021 TurksScholarship and it reinforces to us how many difference makers we have in the life insurance industry. 

Alan Tealby, Claims Consultant, MLC Life Insurance, was awarded this year’s prestigious ALUCA Turks Scholarship for his outstanding paper examining how Artificial intelligence can be properly harnessed to improve customer experiences in both claims and underwriting cycles.

Alicia Gibbs Wellness and Rehabilitation Manager Life & Investments Zurich Financial Services Australia Limited, was the second runner up with her paper “Artificial Intelligence in Claims and Underwriting”. The paper concludes that By taking a customer centric approach, focussing on creating trust through transparency and by sharing data amongst the industry to increase reliability and therefore credibility of AI tools, we can ensure that the life insurance industry continues to progress and meet customer expectations.

Troy Williams Corporate Counsel TAL was the first runner up with his paper “Income protection offset clauses: the what, why and how”. The paper examines how Offset clauses play a central role in ensuring that the level of financial support provided by Income Protection products is both appropriate and sustainable. 

General Life Insurance CPD points category

ALUCA CPD POINTS: 0.5 – GENERAL – Per Paper

READ


KPMG Life Insurance Insights 2021

KPMG’s Life Insurance Insights provides analysis and insights based on financial results up to 30 June 2021 for the Australian life insurance market.

The past year has seen a period of continued disruption, with the impact and uncertainty of COVID-19 magnifying the challenges of a dynamic and evolving regulatory environment. Despite this, the insights show that there are signs of recovery compared to recent years.

As part of the Insights, KPMG have also released an interactive dashboard that presents analysis based on a combination of leading analytics applied to APRA published statistics, supported by insights from their Life Insurance specialists.

General Life Insurance CPD points category

ALUCA CPD POINTS: 0.25 – GENERAL

READ


Five Big Energisers to Put A Spring In Your Step

Chris Savage shares in his regular blog Wrestling Possums five key snippets which link to his talk at ALUCA Lite. The article is called Five Big Energisers To Put A Spring In Your Step – where his 5th point relates to leveraging your MICRophones (Most Important Client Referrers). An interesting and inspiring short read.

General Life Insurance CPD points category

ALUCA CPD POINTS: 0.25 – GENERAL

READ


The Value of Life Insurance

MetLife Australia recently released their Value of Life Insurance Report which seeks to articulate the value of life insurance through several lenses:  

  • Individuals – the impact life insurance has on individuals and their families, both financially and non-financially.  
  • Economy – how the industry supports the economy.  
  • Society – the benefits to the broader community and the Government through limiting the impact on taxpayers. 

Find out how you can help educate and build awareness on the Value of Life Insurance. 

General Life Insurance CPD points category

ALUCA CPD POINTS: 1 – GENERAL

READ


Declining Prospects: Why Courts Keep Setting Aside Insurers’ Decisions in TPD Claims 

Written by Stephen Walsh, Barrister at Sir James Martin Chambers and a key speaker at ALUCA’s August 2021 legal seminar, this article aims to give an advocate’s view of some of the difficulties of persuading judges to uphold TPD decisions. The content addresses; the origin of opinion clauses, the response of the courts, whether opinion clauses still serve their purpose and what can be done to improve insurers’ chances. 

Regulatory life insurance CPD points category

ALUCA CPD POINTS: 0.5 – REGULATORY

READ


Realising the Health Benefits of Work – An Evidence Update

The Health Benefits of Good WorkTM (HBGW) initiative is based on compelling Australasian and international evidence that good work is beneficial to people’s health and wellbeing and that long term work absence, work disability and unemployment generally have a negative impact on health and wellbeing. 

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ALUCA CPD POINTS: 0.5 CUSTOMER CARE

READ Realising the Health Benefits of Work – An Evidence Update