Ian Fryer

Investment Strategy

The impact of reinsurance on product design

Over the past few years several direct insurers and reinsurers have exited the superannuation market in Australia over high claims and concerns over poor data, which has done little to help the reduced but still persistent life underinsurance gap. This exit has caused a lack of capacity, particularly reinsurance capacity, and is the biggest problem […]
Dan PurvesJuly 20, 2015
Investment Strategy

Rehabilitation becoming preferred alternative to TPD

Group insurance needs to move away from total and permanent disability (TPD) lump sum payment to income replacement and rehabilitation, a variety of insurance experts agree. There is a desire, coming from multiple quarters of the industry, do this as it is more sustainable for business and gives a better outcome to members “Rather than […]
Dan PurvesJune 25, 2015
Hedge Funds

Kinetic Super stands figures on their head

Kinetic Super has defended its cost structure from analysis which shows it having the highest operational costs of all superannuation funds as a proportion of member assets. Megan Bolton, chief executive of the super fund for whom many members do contract work and often accrue small member balances, says costs have come down by a […]
David RowleySeptember 1, 2014

Six ideas for sustainable group insurance

On August 20, those responsible for providing group insurance through superannuation will meet in Sydney to discuss ways of making it more sustainable. Here are some of the ideas that will be aired. 1 The industry must work together to find answers The survival of group insurance depends on funds, trustees, regulators and insurers working […]
Kate Hage and David RowleyAugust 10, 2014
Investment Strategy

Corporate funds left standing targeted by Equity Trustees

Corporate super funds that are unwilling or unable to merge with others are being directly targeted with a newly enlarged trustee service from Equity Trustees, led by John Rodd, former chief financial officer of Equip. ChantWest estimates there to be around 60-70 corporate funds still with their own trustee operations that could be attracted to […]
Kate HageJune 16, 2014
Investment Strategy

Insurance “pain” invites new approach

Rising insurance claims have seen a number of superannuation funds recently renegotiate premiums, with some pundits predicting it’s the start of broad sweeping changes for large funds. In the last week both Cbus Super and Equip announced changes to their insurance cover, as both funds renegotiated terms with their insurer, Hannover Life Re of Australasia. […]
Kate HageMay 28, 2014
Investment Strategy

AustralianSuper moves to annual repricing of insurance

AustralianSuper is to renegotiate its group insurance on an annual basis, a move leading figures in the sector believe will become the norm for other superannuation funds. The appetite for writing new group insurance business has shrunk after one of the three big reinsurers, RGA, stopped pricing any new TPD business, while Swiss Re is […]
David RowleyFebruary 24, 2014
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 […]
David RowleyMarch 28, 2013
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