May 20, 2020
All advisers have been witness to the frustration clients feel when faced with yet another steep annual premium increase. Insurance affordability is an increasing issue for Australians and is of particular to concern to one group in particular: APRA. With a rise in mental health claims, a changing employment landscape and insurance providers who have struggled to adapt with the times, is the life insurance as it stands, sustainable?
In this episode, we speak to Niall McConville, General Manager of Retail Distribution at TAL and Gavin Teichner, Executive General Manager of Individual Life at TAL. We discuss how they have seen the advice landscape change over time, the issues currently facing the industry, and their predictions for the future of the life insurance space. We touch on the ramification of COVID-19, as well as discuss what we can expect to see changes to in the near future.
This episode provides great insights into the complexities both Australia and international insurance companies face. Niall and Gavin provide some great food for thought and share some great insight into what the big players can do to ensure sustainable insurance products to consumers.
Niall McConville is the General Manager of Retail Distribution at TAL. Gavin Teichner is the Executive General Manager of Individual Life at TAL. With a combined 40+ years experience in the life insurance industry, Niall and Gavin provide great insight into the minds of life insurers and the impact a challenged industry has on financial advisers.
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