Wed, 3rd Apr 2024

In this week's Insurance News Wrap, MetLife Australia has implemented inclusive leave policies for its staff, recognizing unique personal needs, particularly for women over 40. The firm is offering up to 10 days of menopause leave, 5 days for fertility issues, and 4 weeks for gender affirmation, showcasing a noted dedication to employee well-being. The insurance industry also navigates regulatory changes, with expert John Trowbridge calling for a shift towards total replacement coverage in home insurance, addressing the issue of underinsurance following recent disastrous floods. In tech news, artificial intelligence's role in the industry grows, with 90% of Australian insurers integrating AI into claims processing, customer service, and risk assessment; however, its use in disaster responses remains low. These updates signify the sector's ongoing effort to enhance customer service while considering employees' unique needs.