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Insurance Business | 09 Apr 2014, 08:01 AM Agree 0
As concerns over the One Big Switch reach new levels, an industry professional is taking a proactive approach to helping consumers make the right insurance choices for them.
  • Mark | 09 Apr 2014, 10:12 AM Agree 0
    Why are they devaluing our industry, we are not buying groceries, if the product is no good, you throw it away and get a new one. If an insurance policy is "no good" and doesnt pay a legitimate claim, you cant throw it out and get a new one. Most people's houses are their biggest assest, why is cover not the most important issue when purchasing insurance. Every client should be given a benefit comparison from the old vs the new policy, only a broker has to do this at the moment, the whole industry should be giving the customer all the info at the point of sale, and encourage more cover not less.
  • Mark (Different Mark) | 11 Apr 2014, 05:09 PM Agree 0
    I would love to make something like Policy Comparison available to the One Big Switch clients - perhaps with actual claims examples showing how Coles would respond as opposed to their current insurer.
  • Marj | 14 Apr 2014, 11:03 AM Agree 0
    the same is happening with Life Risk in particular Income Protection one company is offering cover with a great price but when you "look" it the wording the client is only covered for up to 3 months!
  • Ian J | 14 Apr 2014, 11:36 AM Agree 0
    I joined the One Big Switch Health Insurance Campaign, mainly due to the fact that the cover was better than I had held for many years and was 20% cheaper (it was one of those insurances that I had been putting off reviewing due to the complexity of the varying cover - like trying to count ants in a nest), however, alas the premium 12 months on has risen back to where it was. Will this scenario be mimicked by OBS H & C Insurance - most likely, and most definitely if the claims experience dictates the rates.
    They are bastardising the insurance industry and undoing the tough compliance laws that we must all abide by. ASIC needs to take note, look, listen and decide if this type of grab for a market share at the expense of the industry is worth it.
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