The art of underwriting in the automated ageBY DARREN O'CONNELL | VOLUME 10, ISSUE 2This edition of the Suncorp Group's Insurance Insights white paper series will argue that human judgement and intuition is still as important as it ever has been in driving ... Get articles like this delivered to your email - Sign up for the free weekly newsletter  More Articles |
Latest News
The 'blind spot' costing advisers nearly $10bn: Research
|Research from Elemnta indicates financial advisers do not realise they are expending nearly twice as much effort on non-advised operations, highlighting a perception gap and challenges related to data collection and access, which cost 6000 practices about $9.36 billion in "destroyed enterprise value".
Inheritors struggle to act on financial advice: Survey
|Australia's wealthy inheritors are making major financial decisions before they feel ready, with new research highlighting a gap between receiving professional advice and having the confidence to act on it.
NCAs unlikely to solve retirement advice gap: HUB24, CFS
HUB24 and Colonial First State (CFS) say the New Class of Advisers (NCA) will unlikely solve the retirement advice gap Australians face, noting the focus needs to be on helping reduce friction for those with complex advice needs.
Advised cover faces claims data test
Group superannuation insurance appears to outperform individual advised cover on some claim's measures, raising questions about the value of advice when it comes to protecting clients against disability.
Further Reading
Cover Story
Advice with soul
SACHA BURCHGART
FOUNDER & MANAGING DIRECTOR
BURCHEART PTY LTD
FOUNDER & MANAGING DIRECTOR
BURCHEART PTY LTD
Though she initially tried, Sacha Burchgart couldn't escape the call of a career in financial advice; it just took staring down her own mortality to see what's possible when you do things differently. Jamie Williamson writes.
Expert Feed
How technology is turning tax complexity into client clarity
What used to be a relatively simple back-of-the-envelope calculation is now much more challenging, Morningstar says.
Why Australia's financial advisers will be more valuable in 10 years, not less
Despite a rise of innovative solutions across the wealth management sector, financial advisers will prove valuable for in-person advice.
What America's $1 trillion direct indexing boom tells us about the evolution of MAs
What Australia can learn from direct indexing, a tax-efficient form of managed accounts utilised in the US.
Stonepoint is another lesson in fund governance and investor protection
The demise of the Stonepoint Capital Fund may have gone under the radar for many, but proves an important point for independent governance when examined.
Well written, nicely argued but regretfully I think the impact of AI has been underestimated both in scope to learn and adapt, and how quickly it is approaching.
Regretfully the underwriting profession is doomed to be consigned to one of the great great legacies of the Insurance business by machines that will digest, analyse and interpret data in volumes simply not possible for humans to comprehend let alone compete with.
I recommend a look at the book ' rise of the robots'
Where the skill sets may continue to shine will be in confronting potential customers with the iimperative of taking out insurance in a way that AI has not yet mastered - face to face. If its left to the on-line DIY system people will not insure themselves at a level that make the business profitable