Most life insurance providers publish their claim stats. While this is a step forward, we need to do more, says MorganAsh's managing director
Surveys continue to show consumer perception of insurance pay out rates is far lower than reality. In practice, claim stats are primarily for the adviser community and have not changed the perception of the consumer. It can be argued that over time this will change, but I think this is going to be many years. The damage done to consumer perception from poor claims payouts will take a long time to recover. Industry goal? The trouble with focusing on publishing claim stats is that this elevates...
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