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Weekly Life Insurance News Roundup

February 18th, 2012 | Posted by Editor in News - (Comments Off on Weekly Life Insurance News Roundup)

Zurich reveals internal shake-up
Zurich Australia has announced a shake-up to its life insurance and investment business which sees a key senior management position made redundant. Under the restructure, the position of executive general manager, investments will no longer exist, a role held by Matthew Drennan since last year.

Segmentation: Like insurance in the 80s
A financial services consultant has branded current bank strategies for broker market segmentation like the insurance channel of the 1980s. “Once again the banking channel is doing what the life insurance channel was doing in the 1980’s , working at winning the channel not the end customer.”

Wealth managers tighten belts
IT’S been described as ”the perfect storm” hitting professional wealth managers: market turmoil, regulatory challenges and a flight from investments to the safety of cash. Earnings from life insurance and income protection rose 56 per cent to $215 million, while earnings from AMP’s funds management arm fell slightly to $83 million.

New Specialist Risk Advisory Group Launched
A new advice group delivering specialist life insurance advice to individuals and businesses has been launched. The group, called Risk Advice Specialists, aims to provide appropriate life, trauma and disablement insurance cover for individuals, and to offer advice on life insurance as a component of estate planning and business succession planning.

Weekly Life Insurance News Roundup

February 10th, 2012 | Posted by Editor in News - (Comments Off on Weekly Life Insurance News Roundup)

AIA Australia Improves Claims Experience with Axelerator
Axe Group, a fresh thinking software company, today announced that AIA Australia, a leader in the Australian life insurance industry, has implemented their Axelerator software to deliver online claims functionality to their group insurance clients.

Running for Insurance Cover
Australia is facing a significant crisis. Latest research from Rice Warner shows that the population is underinsured to the tune of $3.1 trillion, and this is costing the Government more than $1.3 billion annually.

Tax incentives in insuring for disability
THERE are two reasons why your super fund is the best vehicle through which you should insure for Total and Permanent Disablement benefit. The first reason applies now and involves paying for any TPD insurance your super fund buys, while the second motivation relates to the tax advantages available for super fund TPD benefits.

Risk Advisers Optimistic About 2012
Risk advisers are optimistic about the coming year, according to a survey commissioned by Zurich’s Life and Investments business.

Weekly Life Insurance News Roundup

February 3rd, 2012 | Posted by Editor in News - (Comments Off on Weekly Life Insurance News Roundup)

Omnium Launches Australia’s First Android App for Life Insurance Quotes
Omnium proves its commitment to innovating the life insurance industry by releasing the first Android app to help financial advisers illustrate and compare life insurance.

CommInsure appoints UHG as service partner
CommInsure has appointed Unified Healthcare Group as its medical information service partner for a four year period.

5 Biggest Money Mistakes
Smart money management is not just about building wealth but protecting what you’ve already amassed. Once you have debts and/or dependants, you need, at a minimum, enough life insurance to cover them.

ASIC Bans Former Insurance Company Director
A former insurance company director from South Australia has been permanently banned from providing financial services, according to a statement issued by the Australian Securities and Investments Commission (ASIC).