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Insurance brokers losing jobs to offshore workers

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Insurance Business | 11 Oct 2012, 12:05 AM Agree 0
A million service sector jobs in Australia are set to head overseas and it seems the insurance industry, including insurance brokers, are at the forefront of filling roles with foreign workers. Is your job in danger?
  • Broker of the year | 11 Oct 2012, 12:13 PM Agree 0
    Nonsense!, yes the internationals are moving off shore processing and Accounts depart to their local offices in respective 3 world countries, yes they will have broking office looking after local market and some international accounts.
    But dont see how a person sitting one end of the world and Broking business for client whose in Aus! Rely on google maps (photos 2 years outdated). Please explain!
  • Luke Chrzanowski | 12 Oct 2012, 09:00 AM Agree 0
    Rubbish! Can you (our clients) imagine talking to a person in a foreign country with a thick accent about your business risks? Perhaps accounts and actuarial work will be outsourced, but traditional client facing broking roles?? Get real!!
  • Greg Cottrell - Insurance Professional Dinosaur | 12 Oct 2012, 11:05 AM Agree 0
    Australians have such short memories...Remember Telecom!!, that unproductive, poorly run Public Government Owned Utility before Telstra. However the same comments were made back then "how could you talk to someone overseas about a service owned and paid for by the Australian Taxpayer?"
    I am not saying that Telstra is any better, in fact from a consumers point of view it is worse - but they do make big profits, where Telecom made none.
    Australia is heading towards corporate socialism, if not already there, where there is no "real" competition and 1,2 or a few major players dominate the market leaving the customers will little or no rights or control over the product or services they receive. The Australian Insurance industry has reduced significantly in the past 20 years and is currently controlled by:
    - 3 major re-insurers;
    - 5 major insurers;
    - 4 major international brokers;
    - 3 Broker Cluster Groups;
    - 3 major loss adjusters.
    majority of which act as "agents of the insurer", also a majority of which are either owned by bankers or have majority shareholding stakes by bankers. What does this mean? Consumers only receive what is offered....the same product or service by the few providers, differentiated only by clever advertising and marketing, not what they actually want or need.
    In a truly free enterprise system, competition drives freedom of choice and diversity of product & services.
    But why can't we do the same in Australia you ask? Profits! you cannot make a profit when the cost of doing business out ways the return for performing that business. We now have this scenario in Australia in all industries bar the resources industry (but only whilst the commodity price justifies it) plus a few other smaller niche ones.
    The biggest expense on an Australian corporate balance sheet is the "cost of Employment", especially service based industries - hence, the shift to overseas. Our socialist government(s), (State and Federal) successes over the past 40 years with their Union storm troopers and smart manipulation from the dominant international corporations have done the opposite to their idealism by doing away with jobs all together in this country.
    The Service Industries are only following the same path as the rural and manufacturing industries in Australia - imported "offshore produced" industries.
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