The history and purposes of private health insurance

July 15, 2019

Australia’s private health insurance industry fears it is in a death spiral, and politicians need to rethink whether or to what extent taxpayers should continue to subsidize the industry. Australians are increasingly dissatisfied with private health insurance, and policy reform is urgent. Premiums are rising much faster than wages or inflation. People are dropping their cover, especially the young and the healthy. Those who are left are more likely to get sick and go to hospital, driving insurance costs up further.

Spotlight

Woodruff Sawyer

As one of the largest insurance brokerage and consulting firms in the US, Woodruff Sawyer protects the people and assets of more than 4,000 companies. We provide expert counsel and fierce advocacy to protect clients against their most critical risks in property & casualty, management liability, cyber liability, employee benefits, and personal wealth management. We provide expertise and customized solutions where clients need it, with headquarters in San Francisco, offices throughout the US, and global reach on six continents.

OTHER WHITEPAPERS
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Improving the Speed and Efficiency of AI-Enabled Damage Assessment in Insurance

whitePaper | May 16, 2022

The combination of high-resolution aerial imaging and artificial intelligence has practical applications for multiple use cases, such as manufacturing defects detection, environmental impact studies and planning, urban vegetation mapping, and precision agriculture. Now, as major natural disasters have increased, the insurance industry is using aerial imagery and AI for damage assessment. This is part of an expanded focus on post-event analysis that uses data, AI, and analytics to understand risk mitigation. Aerial imagery and AI can help address varying spectral bands of resolutions and other factors that the human eye cannot easily connect.

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Top considerations for insurers in 2023

whitePaper | December 10, 2022

As 2022 comes to a close, insurance companies are facing significant price losses across their portfolios, particularly within long-duration fixed income. On the horizon are the risks of a global recession, peaking fundamentals, persistent inflation and energy crises, particularly in Europe.

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7 Questions to Ask Before Designing Your Insurance

whitePaper | January 14, 2020

After months of strategy and budget meetings, you’ve got the green light – it’s time to begin building your company’s quality assurance program. But are you prepared for the realities of the creation process? Can you address the inevitable questions and setbacks as they appear?

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Credit control optimisation: How insurance firms can increase profits

whitePaper | August 1, 2022

After enjoying healthy margins for several years, insurance organisations aren’t as profitable as they once were. McKinsey’s 2022 global insurance report finds that, after decades of stable returns, more than half of insurers now earn less than their cost of equity. Worldwide, around half of all listed insurance organisations have traded below book value over the past five years.

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Global consumer insurance insights

whitePaper | June 23, 2022

We asked 2,000 insurance consumers from around the world what they feel P&C insurers are doing well, what their buying preferences are, and in what areas the industry can improve. The in-depth feedback and rich data about how consumers are engaging with the industry, their willingness to switch providers and what they think of insurance innovations offer significant strategic opportunities for carriers regionally and globally.

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How can data enrich the property claims journey from FNOL to payments?

whitePaper | December 13, 2022

A recent roundtable hosted by Insurance Post in association with LexisNexis Risk Solutions saw an expert panel discuss how data enrichment can be used from a post-loss perspective and what this change could mean for the future of property claims. This article provides a summary of the discussion.

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Spotlight

Woodruff Sawyer

As one of the largest insurance brokerage and consulting firms in the US, Woodruff Sawyer protects the people and assets of more than 4,000 companies. We provide expert counsel and fierce advocacy to protect clients against their most critical risks in property & casualty, management liability, cyber liability, employee benefits, and personal wealth management. We provide expertise and customized solutions where clients need it, with headquarters in San Francisco, offices throughout the US, and global reach on six continents.

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