Fri, 20th Feb 2026

In this episode of Daily Financial Services News Wrap, host Paige Estritori discusses the rising mental health claims in Australia's income protection insurance sector, which comprises 20% of total payouts in 2024. Insurance Australia Group (IAG) reveals climate changes as a major contributor in increasing home insurance costs due to severe weather threats. IAG also shows dedication to better flood responses following a parliamentary inquiry into the 2022 catastrophic floods aiming to improve disaster response strategies. The episode also touches on the potential of AI to boost industry efficacy and customer service in the insurance industry with applications like automating claims processing. However, it also addresses challenges including data privacy, investment in AI technology, and workforce upskilling. Tune in to enhance your financial literacy and make more informed decisions.n