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IAG to implement new home and contents pricing

Insurance Business America | April 29, 2019

IAG has announced changes to its pricing, meaning homeowners across the country will see their home and contents premiums shift either up or down over the next few months. IAG says that its premiums will take changes in cover offered by the Earthquake Commission (EQC) into account, as well as risks related to natural disasters and severe weather. The EQC will now pay up to $150,000 plus GST per residential home rather than its previous $100,000, however will no longer be offering contents cover – something IAG will continue to provide. IAG is also furthering its risk-based pricing approach and says customers in areas that are “more prone to natural disasters and severe weather events” may see a premium rise, while customers in lower-risk areas will likely pay less. The changes will take effect from July 1, and the insurer says it will work with its customers over the next 12 months to ensure they are fully informed of any changes in premium pricing.

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DMS For Insurance Industry

One of the most paper intensive industries is insurance industry. There are endless forms to fill, copies of proofs to be preserved, and claims to deal with on regular basis. Under the circumstances, using simple word processors, insecure repository and emails or not adopting a streamlined process of document management can have serious negative consequences.

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Spotlight

DMS For Insurance Industry

One of the most paper intensive industries is insurance industry. There are endless forms to fill, copies of proofs to be preserved, and claims to deal with on regular basis. Under the circumstances, using simple word processors, insecure repository and emails or not adopting a streamlined process of document management can have serious negative consequences.

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