Fri, 16th May 2025

Insurance News Wrap

An episode of the Insurance News Wrap podcast, hosted by Paige Estritori, titled "Fri, 16th May 2025" was published on May 15, 2025.

May 15, 2025 · Insurance News Wrap

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Summary

In this episode, Paige Estritori shares important updates in the insurance sphere. Major investment platform Asgard, part of Westpac, announces a significant insurance premium increase, ranging from 0.7% to 94.6%. The adjustment, linked to rising operational costs and claims, will affect client portfolios from July 1. Simultaneously, ClearView makes strides post-exiting the wealth management sector earlier this year, transitioning fully into life insurance. This shift is underscored by a 95% income rise and a $100 million investment in their new ClearChoice technology platform. Lastly, a survey reveals despite financial adversity, Australians prioritise life insurance with holder numbers rising to 60% from 55% last year. However, coverage inadequacy is a concern for over 40% of policyholders. Closing, Estritori reminds listeners of the transformative power transparency and strategic planning hold, amid the evolving insurance domain.

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