Expert insight, analysis and commentary across the entire protection industry.
by ProtectionReview 13/11/12
Have you checked out Westpac New Zealand’s wonderful Impulse Saver smartphone app yet? If not, you really should, at http://www.westpac.co.nz/branch-mobile-online/while-you-re-mobile/impulse-saver-for-iphone-app/. Meanwhile, though, allow me to explain. Starting from the brilliant insight that in this consumerist world impulse spending is a whole lot easier than impulse saving, Westpac came up with an idea which goes some way to levelling the score. The app consists of a bloody great big red button on your phone’s screen, and every time you press it a predetermined amount - $5, $10, $20, whatever you’ve selected – is transferred from your current account into your Impulse…
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by ProtectionReview 08/11/12
Distributed Claims Handling? FINEOS held its annual Global Claims Summit recently at which Peter Le Beau provided a very insightful and well received presentation about achieving Customer Service excellence in Claims. What I find most worthwhile, in addition to the formal presentations at an event like this, is the many sidebar conversations that can be had with people from organisations around the world and understanding the trends and pressures affecting those organisations and what innovations are driven out as a result. Due the nature of the conference, the focus is typically around lack of system investment in the Claims…
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by ProtectionReview 30/10/12
So the Mortgage Market Review is finally upon us and we've still got around two years before it is fully implemented, but what does it all mean and are there implications for the protection industry? Significantly, the responsibility for whether a borrower can afford their mortgage (now and in the future) and whether those having an interest only mortgage have a credible means of repaying the capital now lies in the hands of the lender. Clearly this takes empowerment for managing a sizeable chunk of the household budget away from the individual or couple and this, in theory would impact…
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by ProtectionReview 09/10/12
Jackson Reforms spells good news for Insurers Those of you who have had the unfortunate pleasure of being on the receiving end of a litigious claim will be pleased to learn that Lord Jackson’s proposed reforms to costs of civil litigation will have a beneficial outcome for Insurers. In November 2008 Lord Justice Jackson was appointed to lead a fundamental review of the rules and principles governing the costs of civil litigation and to make recommendations in order to promote access to justice at proportionate cost – ‘The Jackson Review’. This led to the Legal Aid, Sentencing and Punishment of…
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by ProtectionReview 25/09/12
When the going gets tough It’s a difficult time for most Providers. There are significant current and potential changes in the industry. We have RDR, MMR, Solvency 2, Gender-neutral pricing, Auto enrolment and NEST, for example. Change can be seen as an opportunity or threat. How we deal with the situation is key.You can be revolutionary or reactionary. In my view sitting back and waiting for situations to evolve should not be an option. At the least it shows a lack of imagination, and also allows others to gain competitive advantage. Situations, particularly in our industry it seems, will…
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