Viewing entries tagged with 'claims'
AFRM Claims Advocacy has called on the Parliamentary Joint Committee examining if life insurers should be allowed to provide rehabilitation payments to clients to recognise the extremely strong case in favour of doing so set out by the Financial Services Council (FSC) in its recent Cadence Economics research findings.
Advised life insurance has a higher rate of admitted claims than non-advised insurance across all four product types, according to new data released by ASIC and APRA.
In 2015, Australia passed an important milestone. You probably didn’t even notice. But it’s something that, if the trend continues, could dramatically change the way you live.
Westpac reported that 53% of payments made in Australia were cashless. It is estimated that Australia will be cash-free as early as 2022.i
The Royal Australian Mint says there’s been a significant decline in demand for circulating coins. The Mint produced 20% fewer coins overall in the most recent year on record. The five cent coin was the least loved, with demand dropping roughly 35%.ii
If a world without cash seems inconceivable, you only need to look north to see what’s happened. In Sweden, they’re fast moving towards digital transactions only.iii In 2015, only 2% of payments (by value) were in cash. It’s legal to not accept cash at a store. The government is happy to promote its cashless society mandate.iv They explain that "even children pay with cards", and that vendors prefer not to handle cash for security and bookkeeping reasons.
1. A good adviser knows what will work at claim time. Their advice and the policies they recommend will be purely based on this. It only pays to have insurance when it is the right insurance for you. And the right insurance is only right if you make a claim and it gets paid.
AFRM, one of Australia's leading specialist risk practices, is proud to announce they have now managed over $100,000,000 worth of claims since the inception of the business in 1997.
If you’re an adviser who has never had to deal with a claim, the first experience can be quite daunting. We profiled two advice businesses with a strong track record in claims management to uncover their ‘best practice’ approach when it comes to dealing with clients and insurers at claim time…
The Risk Store recently released its 2012 industry statistics for retail life insurance claims announcing that the retail Life Insurance industry paid out over $4.4 billion in claims in 2012, an increase of approximately 10% on the previous year. This amount was paid from a total of over 70,000 claims. These figures do not take into account additional amounts paid out from superannuation funds which would make the total amount paid out to Australians, much higher.