POWERED BY MOMENTUM MEDIA
Insurers urged to innovate
Risk insurers should capitalise on the benign overall claims environment by directing any profits into product development and innovation, according to Aon.
Rather than “banking the difference, insurers must change their product scope to meet the evolving needs of the market, Aon Risk Solutions Australia CEO Lambros Lambrou said.
He said insurance was an attractive investment proposition to the international market, who are increasingly looking for alternative investment vehicles.
And despite commentary to the contrary, the domestic insurance market is in relatively good shape at a macro level, with fewer attrition losses and natural disasters, Lambrou said.
However, the landscape has been challenging for insurers with bushfire and offshore energy exposures, as well as workers compensation insurers.
“Both the volume and the value of Workers Compensation claims are on the increase,” he said.
“This means that clients with poor loss histories will inevitably be asked to take on more risk themselves.”
Recommended for you
The insurance company has joined this year’s awards as a principal partner.
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.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI Second Close
61.07 3 y p.a(%)
2
Spire Oaktree Opportunities XI First Close USD
59.21 3 y p.a(%)
3
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
31.56 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
31.06 3 y p.a(%)
5
DomaCom 4/27 Crombie Avenue Bundall QLD 4217 Australia
26.81 3 y p.a(%)
