APRA and ASIC publish latest data on life insurance claims and disputes - December 2022
The Australian Prudential Regulation Authority (APRA) has released its Life Insurance Claims and Disputes Statistics publication, covering a rolling 12-month period from 1 January 2022 to 31 December 2022.
APRA’s Life Insurance Claims and Disputes Statistics publication presents the key industry and entity-level claims and disputes outcomes for 17 Australian life insurers writing direct business (i.e. excluding reinsurance).
ASIC’s MoneySmart Life insurance claims comparison tool has been updated with the latest data. The online tool compares insurers across cover types and distribution channels on four metrics – the percentage of claims accepted, the length of time taken to pay claims, the number of disputes and the policy cancellation rates.
This publication is available on the APRA website at: Life insurance claims and disputes statistics.
Contact APRA Media Unit, on +61 2 9210 3636
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For more information contact APRA on 1300 558 849.
The Australian Prudential Regulation Authority (APRA) is the prudential regulator of the financial services industry. It oversees banks, credit unions, building societies, general insurance and reinsurance companies, life insurance, private health insurers, friendly societies, and most members of the superannuation industry. APRA currently supervises institutions holding $8.6 trillion in assets for Australian depositors, policyholders and superannuation fund members.