Editor’s Note – Summer 2018-19

Welcome to the Summer Edition and HAPPY NEW YEAR!

2018 has come and gone in record time (again) and what a year we had!  My grandmother used to say “what doesn’t kill you makes you stronger” and I could not think of a better way to describe the last 12 months in Australian life insurance.

The Financial Services Council (FSC), the Life Insurance Framework (LIF) and of course the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry have compelled our industry to review every aspect of our respective business operations. While watching one ill-fated event unfold in granular detail after another at the RC hearings, it was hard not to feel somewhat deflated. “How did it come to this?” I asked myself on several occasions. Like many of you who are passionate about the enormous value our purpose-driven industry brings to everyday Australians, I found the imbalance frustrating and yet the cases prosecuted at the RC left no doubt that we can do much better.

There is no doubt that the Australian life insurance industry sustained reputational damage in 2018 and for that reason, I see 2019 as a genuine opportunity to start with a clean slate, embrace the changes to come and demonstrate our true value to the Australian public.

Since RiskeBusiness became an online publication a couple of years ago, analytical data reveals that our readership has grown exponentially. Sure the online presence expands audience reach however the real success of ReB is primarily a result of quality articles and papers by our ALUCA members and sponsors. I believe that we can take ReB to another level in 2019! To achieve this, I am looking to assemble a small working group of claims and/or underwriting professionals who are well connected in the life industry, can spare 15 to 30 minutes twice quarterly but most importantly….. have a genuine passion for ReB’s evolution. If this opportunity appeals to you, please send an expression of interest to the ALUCA Secretariat secretariatofficer@aluca.com

Speaking of getting involved and making a difference, have you completed the ALUCA’s 2018/9 Annual Member Survey yet?This survey is to better help ALUCA understand members’ challenges, needs and thoughts about ALUCA as we plan for 2019.  The ALUCA Board and I would really appreciate a 5-10 minute investment of your time to tell us what you think. Please click here to access the survey

I hope you really enjoy this Summer Edition of RiskeBusiness and may 2019 be your best ever year!


Michael Reid
ReB Editor


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