In brief - the report of the Royal Commissioner makes various
suggestions as to changes in the law that may have a long term
effect on the general insurance sales process
We have prepared a chart comparing the current regulatory regime
for the general insurance sales funnel with what the Royal
Commissioner has proposed. While at this stage they are merely
proposals, both political parties have committed to implementing
the changes.
The chart below shows the key changes and what to expect.
Although it is probably too early to start making concrete business
process changes, general insurers who are caught by the proposals
will likely have to start change planning this year.
General insurance sales funnel (PDF)
