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Insurance Business | 16 Sep 2013, 12:00 AM Agree 0
An Australian comparison website has struck deals with four players – including a major international insurer – to offer a host of products on the site.
  • Paul | 16 Sep 2013, 12:46 PM Agree 0
    5 years back I was attending a conference in Dubai, became ill and had an emergency appendectomy. The medical and emergency assistance from AIG was superb and included advice on the hospital, weeks rest in a 5 star hotel and finding an airline to get me home. Being able to access an Australian doctor to review pre and post op matters was very reassuring. I am a 4 decade Insurance industry veteran and even I struggle with the complexity of travel insurance. For brokers travel insurance requires a statement of advice , research and great care in product choice.The emergency assistance services is a key issues. How these comparison sites can be allowed to simply offer uneducated consumers prices and de-facto recommendations beggars belief. I trust Joe Hockey's son of Wallis inquiry into the Financial System reviews this aspect. All direct insurers and comparators must be forced to be licensed to give advice, not just disclaimers for Retail Products. I have seen many cases of misleading and evasive practice and consumers duped into believing direct sellers are giving advice. Let's level the playing field!
    Paul
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