The data presents the key industry and entity-level claims and dispute outcomes for 20 Australian life insurers writing direct business, excluding reinsurance, for the 12 months from January 1, 2021, to December 31, 2021 (FY21).
Focusing on claims, the report showed significant variance in life insurance claims admittance rate between cover types and distribution channels. However, it noted that the number of observations affected the results. For FY21, the life insurance claims admittance rates were:
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For the same period, the life insurance claims paid per ratio by cover type and distribution channel were:
The report also released the dispute lodgement ratio by cover type and distribution channel, as well as dispute outcomes, reversed decisions, and processing duration. For FY21, the life insurance dispute ratio by cover type and distribution channel in Australia were:
You can find the rest of the data on the APRA website.