Incentives drive short termism: IAG chief
Company incentives drive short termism says IAG CEO
Company incentives drive short termism says IAG CEO
Medibank has defended its decision to not inform customers coverage changes saying it could never promise full cover for all services.
It's crunch time for the board of $17 billion-bancassurer, Suncorp, and the fate of the company's life insurance unit.
Medibank's $5.7 billion float on the ASX was at risk with the health insurer worried about negative backlash over changes it made to out of pocket expenses for its policies, just months before the IPO, a court heard.
Training manuals show Medibank staff were not told to inform customers of changes to their policies that would see them face out of pocket expenses from in-hospital diagnostic services.
Insurers must use the power of data in the face of consumer mistrust, consolidation and declining profitability.
Medibank was set to boost its bottom line by $24 million from a change in policies, months before it listed on the ASX, a court has heard.
Macquarie Bank has been revealed as the mystery customer signalling it will exit its exclusive contract with Genworth Mortgage Insurance.
The issue of life insurers getting full medical record access could be fixed by a new approach to consent forms.
Insurer Suncorp has pushed into micro-insurance for the sharing economy with a chatbot named Kevin. It's here to help.
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