Continued market consolidation, technology driven disruption and a shift towards behavioural based conduct regulation were the standout themes in the Australian insurance sector over the last 12 months. We take a brief look at the year that was and share our thoughts on what 2016 looks like. Keep ahead or be left behind: rise of … Continue Reading
The release of ASIC’s corporate plan for the coming three years marks the beginning of a new era of conduct regulation in Australia; one in which organisations may face enforcement action for having a culture that is not adequately consumer-centric or for taking advantage of consumer biases which lead to poor consumer decision making. We … Continue Reading
We are on the cusp of a new era in the evolution of the financial services industry. New technology, data analytics and behavioural economics are promising to revolutionise the customer experience. If the regulators remove the regulatory barriers, then using multi-media to deliver mandated and voluntary disclosure in different formats and through different devices will … Continue Reading
A spate of natural disasters in recent years has revealed a concerning level of underinsurance in the home and contents insurance market, according to reports released by ASIC in late 2014. ASIC has called on insurance providers ‘to implement measures that will meaningfully improve consumers’ understanding of their policy, and help ensure consumers buy a … Continue Reading
