CHR Consulting

Opinion

Using data to tailor insurance

Insurance products are becoming a tool which super funds are using to differentiate themselves and increase their relevance to members, as the concept of providing averaged group insurance cover across a fund’s membership is supplanted by products tailored to the individual. However, the use of big data, or the lack of it, in the creation […]
Unintentional

Debate: Favouring IP over TPD

The following people met recently to discuss the sustainability of insurance. Jeff Humphreys, principal, CHR Consulting; Linda Winterbottom, senior rehabilitation specialist, CommInsure; Bernard O’Connor, company secretary, NGS; Helen Hewett, executive officer, Industry Funds Forum; Colin Cassidy national insurance manager, HOSTPLUS; Frank Crapis, head of industry funds, Comminsure; Margo Lydon, chief executive, SuperFriend and Russell Mason, […]
Roundtables

Tackling lawyer led insurance claims

Some of the most influential people in the group insurance space met in Sydney in March to discuss the sustainability of the sector. The group discussed initiatives to limit lawyer-led insurance claims and to improve data standards. The superannuation member who makes a total and permanent disability (TPD) claim through a lawyer and ends up […]
Hedge Funds

Group insurance grapples with change

A combination of greater regulatory requirements, higher data standards and an increasing number of claims in group insurance have caused premiums to rise. According to a recent Conexus Financial/CommInsure roundtable, higher premiums are consequently here to stay. The Prudential Standard SPS 250 requires insurance records going back at least five years, covering claims, membership, the […]