Tue, 21st May 2024

In this week's podcast, Paige Estritori reviews key developments in Australia's insurance industry. A spotlight is on TAL's record claim processing, disbursing a total over 4 billion dollars half of which was digitally processed within 24 hours, impacting 50,000 Australians predominantly wrestling with injuries and illnesses. TAL's success lies in strategic investment in digital technologies and skills development. Australian Senate's probe on the impact of climate change on insurance costs, led by Greens Senator Mehreen Faruqi, was discussed. The controversy against the advice sector's response to APRA regulation changes and the rise in new disability income business was examined. Concerns about the insurance industry's response to Melbourne's 2022 floods were made, with citizens calling for clearer communication and better disaster preparation from insurance companies.