Frances Magill: We’ve just had experience with a large employer who’s predominantly across the primary industry area. And about 1500 members. And the employer thought they were going to do a great thing by offering in the enterprise agreement fund choice. And we were solely named and obviously the default fund, and the members themselves said no, we want Statewide. We don’t want fund choice. And the reason is the insurance. The insurance had been in those areas they couldn’t get the insurance, but they also had 20 years of experience, and they all talk to one another in all these country areas of the deaths and the total and permanent disabilities where Statewide’s paid the money, thanks to the insurer. But, you know, that we’ve actually delivered the service including the income protection. So your brand equity is important to be able to sell it but it also has to deliver to maintain your brand equity.

Geoff Brooks: I think the other element of choice though is that we found a massive shift in our fund demographic. I mean we’re basically an industry fund but the first contact, first distribution point is through the first employer that the person goes to. But once they leave they’re all in the personal division. I mean 40% of our members are now personal members. They’re disaggregated. They’re all around the place.

Michael Bailey: Is this where online calculator’s come into play? Is MetLife or the industry working on better online tools?

Tassin Barnard: There are a few things that you could be asking your insurers for – whether it’s MetLife or whoever your incumbent is. One is the provision of a calculator. I would be asking for a calculator that not only I can use but the underwriters have bought into. Number two is I believe there should be some very simple products out there, I mean easy to understand. That doesn’t mean that they can’t have extra features attached. But each feature must be designed in a very simple way. The other is getting a trust relationship between the insurer and your members because if we look at the research that has been done there’s three reasons people say they don’t buy insurance: it’s too complicated, it’s too expensive and the whole issue of trust. People say they don’t believe the insurance companies will pay. Now that’s a horrible situation to be in.

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