Insurers can easily squander client goodwill
The good will built up by insurers with clients can be squandered in a day as a result of an adverse story, according to BT Financial Group chief information officer, Anastasia Cammaroto.
Addressing the 10th annual Technology and Innovation — Future of Insurance Conference in Sydney held by Money Management's sister organisation, FST Media, Cammaroto used her address to emphasise the use of technology in improving customer retention and growth.
Cammaroto did not directly specify any particular insurer, but in a week during which the claims handling procedures of Comminsure have been the subject of adverse media reporting, including calls for a Royal Commission, she said there was a need for insurers to take their responsibilities to clients seriously.
"Years of good work can be squandered in a day or by an adverse story," she said.
Earlier, ANZ's newly-promoted head of Wealth, Alexis George pointed to the great responsibility owed by insurers to serve the interests of their clients.
She said technological advances were likely to see that responsibility grow and make ethical behaviour an increasingly important of the equation.
Recommended for you
Sharing his reasoning in joining the FSC board, WT Financial chief executive, Keith Cullen, believes “product and advice cannot be separated” from each other in the current environment.
The Emerge Foundation, a charity run by financial advisers and fund managers, has announced a scholarship program to help veterans transition into tertiary education.
In an open letter, Sequoia chief executive Garry Crole has hit out against shareholders “with a personal axe to grind” as he fights for his job ahead of an EGM.
The JAWG has announced it is in talks with Treasury around five “core principles” to strengthen the education standards for new entrants to the financial advice space.
