NEWS

Stay in touch with Phoenix

21 Jun 2018

Mercurien Insurance, in partnership with Zurich Australia, is set to launch an Australia-first telematics-enabled motor fleet insurance, to help insurance brokers deliver value to clients.

The Zurich-backed insurance offering will build on Mercurien’s proprietary BetterDriver telematics technology, and use the insights that BetterDriver delivers around fleet safety, risk and taxation outcomes.

Michael Graham, Mercurien CEO and co-founder, said BetterDriver is a “best-in-class telematics offer” developed for Australian conditions to assist organisations and drivers in managing risk.

“BetterDriver measures the quality of driving across multiple parameters i...

20 Jun 2018

How much does privacy really mean to insurance customers? If it means lowering insurance prices, perhaps not that much.


That seems to be the conclusion we can draw from a report released today by MuleSoft, a provider of a platform for building application networks, entitled Consumer Connectivity Insights 2018. It surveyed more than 8,000 consumers globally to assess whether firms are meeting customer expectations and providing a truly personalised experience – and it seems there is an open appetite for the use of social media and IoT data if it leads to a more individualised service and reduced premiums.

It found that 44% of customers would be happy for...

18 Jun 2018

Liberty Holdings Ltd., the South African insurer midway through an overhaul to improve profit, said it refused a ransom demand after hackers breached its information-technology infrastructure and accessed some emails.

“We did engage with the external parties involved to determine their intentions, but we made no concession in the face of this attempted extortion,” Liberty Chief Executive Officer David Munro said Sunday in Johannesburg. “Liberty is at an advanced stage of investigating the extent of the data breach, which at this stage, seems to be largely emails and possibly attachments.”

The threatened data leak comes as Munro pushes ahead with a turnar...

18 Jun 2018

Brokers have their work cut out for them as new findings revealed that less than half of Australians understand what their car insurance covers. 


According to Smith's Lawyers, millions of Australians are unknowingly driving around without adequate cover as they’re under the mistaken belief that compulsory third-party insurance (CTP), green slip insurance, will cover for damages to vehicle or property caused as a result of an accident.

The firm's survey of 1,500 motorists revealed that only a third of drivers understand what CTP covers, while more than 65% of participants believe it covers them for both injury to others and damage caused to vehicles or pr...

15 Jun 2018

Barely have autonomous vehicles taken off on the ground, and Uber is already sending them to the sky. Los Angeles, Dallas-Fort Worth, Paris, and Dubai are a few of the cities where the company has plans to introduce aerial vehicles by 2020.

The concept of flying cars might appeal to the science fiction stories and forward-looking mindset that excites people, but it’s not a revolution so much as an evolution in technology, according to one expert.

“When you really think about it, these are that step in aviation that has already been taken in ground vehicles. These are basically electric autonomous flying taxis,” said Thom Rickert, vice president and emerg...

14 Jun 2018

NSW insurer icare has successfully embedded a renewed focus on the workers, employers, and healthcare providers of NSW through an overhaul of its approach to customer experience (CX), as demonstrated by its rising net promoter score (NPS).

Only 18 months after icare launched its bespoke customer-experience management programme, the insurer’s NPS, which measures customer experience and predicts business growth, jumped 26 points, demonstrating a substantial increase in customer satisfaction.

“Social initiatives, business strategy, even culture; everything in our new CX programme exists to meet the needs of the workers, employers, and the healthcare provid...

13 Jun 2018

The value of brokers in helping clients find cost-effective insurance cover is shining even brighter today, with a new analysis showing that some insurers are quoting more than twice the price of others for home insurance premiums on identical properties.

An analysis of home insurance prices released by ESL Insurance Monitors Allan Fels and David Cousins found that the highest premium was on average more than double the lowest in the market, with the average of the total premium across all locations in May at $1,813.

The findings were based on a monthly comparison of quotes for 12 major brands of household property insurance covering identical properties...

12 Jun 2018

An energy regulator’s report on the Terang bushfire in Victoria has concluded powerlines owned by utility company Powercor did not meet Australian “clearance standards”.

Energy Safe Victoria (ESV) says the lines also fell short of the company’s own clearance requirements.

The Terang blaze was one of four in Victoria’s south-west in March, known collectively as the St Patrick’s Day fires.

The fire was most likely caused during high winds by “molten material falling from clashing and arcing conductors” near a pole on Powercor’s distribution network, ESV says.

“The construction of the lines was not consistent with standards and did not allow sufficient cleara...

7 Jun 2018

An energy regulator’s report on the Terang bushfire in Victoria has concluded powerlines owned by utility company Powercor did not meet Australian “clearance standards”.

Energy Safe Victoria (ESV) says the lines also fell short of the company’s own clearance requirements.

The Terang blaze was one of four in Victoria’s south-west in March, known collectively as the St Patrick’s Day fires.

The fire was most likely caused during high winds by “molten material falling from clashing and arcing conductors” near a pole on Powercor’s distribution network, ESV says.

“The construction of the lines was not consistent with standards and did not allow sufficient cleara...

7 Jun 2018

Digital claims management company Claim Central Consolidated has begun operations in Africa, responding to a “strong appetite” for digitisation in the region.

Claim Central Africa will be based in Riovonia, a suburb of Johannesburg, South Africa.

It will be led by MD Ronald Gall, who has 17 years’ experience in the African insurance industry. He will report to global CEO Brian Siemsen.

Most recently he was a founding partner of WiCover, which creates on-demand client experiences for insurance partners worldwide.

“With the Africa insurance market maturing, insurers are becoming increasingly optimistic about a rise in premiums across the continent,” Mr Siems...

Please reload

For any further information please reach out to us at any time

Phoenix Risk Services Pty Ltd / ABN 12 617 229 188 / AR 1252319 || Licensee: PSC Connect Pty Ltd ABN 23 141 574 914 AFS License No 344648

Privacy | Complaints

 

Phoenix Risk Services Pty Ltd endorses the Insurance Brokers Code of Practice. To obtain a copy of the code click here