CommInsure

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How To Save Money On Car Insurance in Australia

1) Compare Car Insurers Most car insurers know that once they have a client its rare for that client to compare their policy for up to seven years, so the best way to save money is to compare every year. 2) Don’t  be young Drivers under 25 are a huge risk for insurers, regardless of the clean driver record of the primary driver. Insurers will charge up to 3 times the normal premium for under 25’s and the excess in the event of claim is

Comminsure New Life Insurance Software Platform Released

Insurance arm of Australian banking giant Commonwealth bank, have launched a new high tech online self service platform for its members. CommInsure’s Wholesale Life Division have developed a new online software designed by Sydney based software company Axe group, to create an online application and underwriting platform. The platform has been specifically designed for the insurance and superannuation market. CommInsure’s two largest industry super funds CareSuper and Hesta have approximately 900,000 members who will be able to enjoy the benefits and convenience

Insurance premium survey reveals subdued sales

Plan for Life research has shown that flows into the life insurance risk market grew 12.5% during 2010. However, new premium sales sustained a marginal growth pattern. Companies in the survey showed 2010 inflow increases from $8.3 billion to $9.4 billion. The highest growth rates were Tower (31.5 %), AMP (26.4 %), AIA Australia (19.1 %), BT/Westpac (9.7 %), OnePath Australia (9.4 %) and

Emergency package for customers affected by Illawarra floods.

The Commonwealth Bank has announced an emergency assistance package for customers and businesses affected by flooding on the NSW South Coast and Illawarra area. Commonwealth Bank’s Ross McEwan said, “We are concerned at the impact the rain and flooding has had on local residents and businesses in the Shellharbour, Bombala, Kiama and Bega local government areas. As a result, we have put special arrangements in place to provide support to our customers should they

Who is CommInsure?

CommInsure is a registered business name of  The Colonial Mutual Life Assurance Society Limited. CMLA is a wholly owned but non-guaranteed subsidiary of the Commonwealth Bank of Australia. CommInsure has scooped the 2010 awards for Plan for Life/AFA Life Company of the Year and ANZIIF’s Life Insurance Company of the Year. According to a CommInsure spokesperson, these awards highlight “improved customer service, innovative services and products, and speed and effectiveness in underwriting and claims. Real advantages that can help boost your

More insurance options from CommInsure

In response to feedback from advisers and research, CommInsure has launched a range of exciting new insurance product features and services. Enhancements include: 1) Increase total and permanent disablement (TPD) limits to $5 million – CommInsure now offers up to $5 million in TPD benefits. Combined with the permanent disablement option in CommInsure’s income protection products, clients could receive up to a maximum benefit payout of $8 million (generally tax free outside of super) if they suffer any of the 19

Asteron joins Comminsure with life insurance superannuation rollover payment option

Life insurer Asteron has announced a range of premium options for their Life Insurance clients that allows the payment of premiums through their superannuation or invest accounts, this comes a week after Comminsure announced  that premiums for its Total Care Plan Super (TCPS) can be funded through annual rollovers, Please note Quotesonline Insurance News is

ANZIFF reveals the finalists in insurance industry awards

The Australian and New Zealand Institute of Insurance and Finance (ANZIIF) has announced the finalists of their award categories ahead of their awards function in Sydney on 12 August 2010. The awards are hosted by ANZIFF and Asia Insurance Review. The finalists were: Life Insurance Company Award: CommInsure, MLC and Westpac Life Services. Reinsurance Company of the Year: Munich Re, RGA, Swiss Re and General Re Insurance Leader: Chartis CEO Chris Townsend, Vero NZ CEO Roger Bell, and IAG CEO Mike Wilkins. Large broker: Aon,

Focus on fighting fraud during this week

According to CommInsure’s website around “one in every 20 Australians are estimated to have been caught by scams.” It is also estimated that “around two-thirds of consumer fraud now occurs online”. Commonwealth Bank Group has thus joined forces with the Australian Bankers’ Association to help stop online fraud by taking part in Fraud Week. The industry campaign, which runs from 1 – 7 March, focuses on raising awareness of online consumer fraud such as scams and hoax emails. Fraud Week is coordinated

Who is the Life Insurance Company of the Year?

    CommInsure has recently received the 2009 Platinum Award and named Life Company of the Year at the Plan For Life/AFA Life Company of the Year Awards. The other finalists competing for the Platinum Award were Asteron and TOWER Australia. Besides the top honours, CommInsure scooped further awards at the event, winning the Service Quality Award, Trauma Insurance Award and Investment Bond of the Year. The 2009 winners

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