'Community standards and expectations’ has emerged as one of the game-changing phrases in the Australian financial services sector. Whilst not a legislated term, the idea is that financial service companies (including insurers) need to align their business model with what consumers expect and not just the letter of the law.
The Australian life insurance industry is facing multiple headwinds that threaten its sustainability. Angat Sandhu explores how it can better meet customer, community, regulatory and shareholder expectations.
The use of wearable technology has been on the rise in recent years, from step-counting to measuring sleep. Many industries have begun to embrace this technology, with increasing interest in how wearables are being used in life insurance. More importantly, how can and should they be used going forward? And what caveats should we be aware of?
The Actuaries Institute has identified key areas and recommendations from Hayne’s final report that should be considered by actuaries working across general insurance, life insurance, superannuation, risk and banking.
Posted 27 November 2018
Posted 25 October 2018
