Thu, 15th May 2025

In this week's Insurance News Wrap, Paige Estritori discusses ClearView's shift to become a life insurance company, leaving wealth management behind. The company witnessed a 95% surge in gross premium income, owing to its strong ties with independent financial advisers (IFAs). Additionally, ClearView invested $100 million in its ClearChoice technology platform, migrating to a cloud-based model set for full integration by next year. Despite economic challenges, Australians are prioritizing life insurance, with NobleOak reporting a significant rise in coverage levels and a 5% increase in life and income protection policyholders. This trend is especially among younger citizens, urban residents, mortgage holders, and high-income earners. However, many Australians are questioning the adequacy of their coverage. Financial advice is back in demand, nearly matching pre-pandemic rates. Yet, a widening gender gap in financial confidence is emerging, with women having less confidence than men.