Matt Essick

Pleased to report that The Society of Pension Professionals have today published their much anticipated discussion paper on government proposals for a Lifetime Provider Model - whereby savers have a single pension scheme throughout their lives irrespective of how many jobs they may have.   Although The Society of Pension Professionals paper acknowledges there may be some benefits from a Lifetime Provider Model, overall, the conclusion is that such an approach would be complex and costly and that there are better value, more effective alternatives such as the Government’s pension dashboards project. The paper is FREE and available to all using the link below so why not find out more and have a read: https://lnkd.in/eVMjvt55 #pension #pensions #potfollowsmember #pot4life #publicpolicy #policy #pensionspolicy 

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UNDERCURRENTS: Speaking at the UK’s Managing General Agents Association (MGAA) annual meeting last month, Brown & Brown CEO Powell Brown identified a deep-pocketed funding source that has, to date, done little more than dip a toe into the global P&C insurance market: Family offices... https://lnkd.in/gjtrp7aQ #mga #capital #insurance #reinsurance #insurancemarket #reinsurancemarket #insurancenews #reinsurancenews

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FCA giving a clear heads up as to disappointment in the consumer investment sector over identifying vulnerable customers in the Dear CEO letter published today. "Our 2022 Financial Lives Survey data shows that almost half (47%) of adults show one or more characteristics of vulnerability. This reduces to c.30% where invested assets are over £50K. Despite this, and as an example, our recent Wealth Management firm data survey found that 49% of firms had not identified any vulnerable clients within their retail client base. Furthermore, based on the data submitted by firms in aggregate, less than 1% of retail clients appeared to present with characteristics of vulnerability. We are currently working with industry bodies and individual firms to unpick this data to better understand how firms are: • identifying and categorising vulnerable clients; and • then modifying their product or service offering to meet those clients’ needs. "

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BLOG | Improving population health: The role of insurers as investors This blog, written in collaboration with ShareAction, explores the role of insurers, both as protectors and investors, in influencing population health. It also sets out the steps that ShareAction has identified for insurers to take to harness their powers as investors to address health-related risks across society. Find out more - https://lnkd.in/eFkyG58C #AssociationofBritishInsurers #Insurance #LongTermSavings #HealthInsurance #IncomeProtection #Investment #ResponsibleInvestment

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Read a free online chapter from 'A Practical Guide to Valuation for Rating' by Luke Wilcox This book guides the reader through the complexities of the subject. It analyses and explains the statutory framework, and the key concepts as they have developed through centuries of jurisprudence. The book also introduces the main methods of valuation which will be encountered in modern rating practice, and identifies the hot topics and areas of development in this ever-evolving field. The book will be of use to lawyers, surveyors, and anyone else seeking to understand this fascinating subject. More Info / Buy Online / Read a FREE Online Chapter: https://lnkd.in/guxMJCid

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Our latest webinar has been announced and you won't want to miss it! 📢 'Travel Insurance Unpacked' will discuss and dissect the complexities existing within the UK travel insurance market today, with the aid of our proprietary price benchmarking and consumer insights. 🔗 https://hubs.ly/Q02yXW6w0 📈 Emerging trends: How consumer preferences are reshaping travel insurance 📊 Market evolution: A close look at how pricing dynamics are influencing the market landscape 📝 Interactive Q&A: Your chance to ask the experts, clarify doubts, and gain direct insights Sign up now and receive a free report which captures travel specific consumer research insights! Secure your spot today! #Webinar #TravelInsurance #TravelReport #Insights

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Members Health funds put people before profits and are known for high levels of trust reliability, quality and service. They deliver higher benefits and operate on lower margins, 6% compared to 8.8% across the rest of the industry. Member funds live the not-for-profit ethos and give back more premium dollars in benefits, $290 million more than the rest of the industry. By communicating with their customers and supporting them in times of need, member funds have high levels of customer satisfaction, with 91% of current members satisfied. With a trust score of 84%, member funds are trusted more than leading Australian brands including Australia Post, Bunnings, Telstra or Qantas.  Members of our funds are also likely to stay with their fund for the long term with a higher avg. member retention rate at 87%, higher than the rest of the industry. To read more about our member funds including their impact on the Australian economy, follow the link to our recently released economic impact report at https://lnkd.in/gW57RcKE

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According to the Experian Health 2024 State of Claims survey, claim denials are up 31% year over year. Increasing numbers of claim denials by insurers is exacerbating the financial challenges of healthcare providers and their service partners, complicating revenue cycle management. www.AMB-EMS.com #AMB #denialmanagement #USHealthcare #medicalclaims #Insurancecompanies https://lnkd.in/e7V586UN

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Trusted Hub (TH) has been lauded as a trailblazer in the Business Services category at the SBR National Business Awards 2024, recognising its innovative Medical Examination Exchange. This pioneering B2B vertical collaboration exchange has set a new standard in the digital collaboration landscape between insurance companies & medical clinics, streamlining the end-to-end management of medical examinations for insurance policyholders. By revolutionising the traditional, cumbersome practices of managing medical examinations, TH has significantly enhanced operational efficiency & set a benchmark for inter-industry collaboration. The exchange operates as a dynamic platform, enabling real-time smart sourcing, negotiation, coordination, collaboration, & compensation. With its roots deeply embedded in S'pore life insurance, government, & healthcare sectors, TH has firsthand experience with the intricate challenges of business efficiency faced by its clients. Identifying a lack of smart inter-company collaboration solutions as a systemic issue, the company embarked on a mission to create a trusted exchange platform that could serve as a model for future business collaborations. Focusing on the vertical collaboration between life insurance companies & medical examination providers, TH aimed to modernise the traditional manual processes involved in managing medical examinations for insurance customers. The manual processes were notorious for causing delays, inefficiencies, & unnecessary costs, underscoring the urgent need for an innovative solution. The exchange platform developed by TH likened to an Airbnb for medical examinations, underwent a rigorous POC phase involving 1 x life insurance company & 20 x medical clinics over 1.5 years. This phase was instrumental in refining the platform, enriching its capabilities, & learning valuable insights about insurance, clinic, & consumer behaviours. The successful transition from the POC to a full live service marked a significant milestone, demonstrating the platform's effectiveness & its positive impact on all stakeholders involved. Since its inception, the exchange has witnessed rapid expansion, adding new medical groups & engaging in discussions with additional insurance companies to further broaden its services. These services are set to cater to high-net-worth insurance customers, specialised medical consultants & concierge services. Furthermore, discussions with Singapore's pre-employment medical examination provider hint at the potential expansion into new B2B service frontiers. The Medical Examination Exchange by TH is more than just a marketplace for insurance companies & medical clinics; it's a groundbreaking platform with the potential to host a myriad of services that transcend direct medical examination management. With a clear strategy for future growth & expansion, TH is poised to not only dominate the Singapore market but also globally. #SBRAwards #MedicalExchange #B2BExchange

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Trustee chairs: We’d like your feedback We're building a new way for trustees, actuaries and advisers to submit scheme valuation data to us, and for chairs of trustees to provide a signed statement of strategy in line with our new defined benefit funding code. We’d like to hear feedback from trustee chairs on the new service, so we’re running some user research sessions. You’ll be able to give feedback on the valuation data we’re requesting and how it will be collected. If you are a chair of trustees and you’d like to take part, please email: [email protected] with the subject line 'Chair of trustee research'. #Pensions #IndustryInput

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Join Let's Do Business Finance at this webinar on what you can do to finance your business if your bank can't lend - where you'll hear from Business Manager Lisa Young on how to prepare your business and what you can do next! Register to join the webinar on 1st October from the link in the post below!

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In his latest blog, Stonebridge Chief Executive, Rob Clifford, explains why advisory firms should prepare themselves and their customers for a return of rate volatility in the months ahead. Read the full story 👇 #MortgageNetwork #MortgageBrokers #MortgageRates https://lnkd.in/eGvR4iCC

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#ICYMI: Self-assessment is to be used originally to determine if a super fund member is able to use the carry-forward concessional contributions cap rules. https://ow.ly/N9n450SGOra BT Matt Manning #SMSF #financialplanning #financialservices #ausbiz #accounting #smsmagazine

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🚀 Digital health services are a welcome tonic for insurers. But customers are still hesitant. 🤔 Why? Because there’s not enough value for them. That’s according to execs polled at a recent Qorus online event.   📊 58% pointed to lack of value as the biggest barrier to using an insurer’s digital health services. Way ahead of: • Privacy concerns (14%) • Lack of awareness (14%) • Difficulties accessing services (14%)   🩺 What type of services do customers want? Prevention services topped the polls (53%) Followed by: • Wearable device integration (29%) • Appointment booking (12%) • Telemedicine (6%)   🌐 The event examined future trends and innovations in digital health insurance. 💡 Speakers:   Arthur CLERGERIE (Allianz Partners) shared: “Insurers need to embrace emerging trends, leverage data and keep integrating new digital tools while ensuring to combine online services and offline facilities to enhance patient outcomes, streamline operations, and create a more resilient healthcare system that meets modern demands.” Debasri Ghosh (Standard Chartered) highlighted: “We are seeing a paradigm shift in our clients’ behavior as they take greater ownership of their health outcomes, while demanding Health and Wellness capabilities at their fingertips. With technology and AI-driven insights, we now have the tools to go beyond products and create an ecosystem of value-added services that can empower clients to take charge of their health outcomes; but adoption will depend on how we go beyond gimmicks and deliver true value to them.”   Deon Kotze (Discovery Limited) emphasized: “Funders must accept their role in developing sustainable healthcare systems and work with healthcare providers to create and enable healthcare ecosystems that are as focused on preventative care as acute and chronic care. Emerging trends in digital healthcare, including data-driven directive care, will enable healthcare providers and funders to have an even greater impact on the health of the communities they serve.”   💡 The speakers shared how their organizations are employing digital health services to deliver new solutions and build closer ties with customers.   🔗 Want to join the Embedded Insurance community? Check out the link below! https://lnkd.in/gwSnnVuy    #EmbeddedInsurance #DigitalHealth #InsuranceInnovation

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As we look towards 2025, ACA Marketplace insurers are adjusting their premiums, with an average increase of about 7%. This change impacts many individuals and families relying on the ACA for their healthcare coverage. Read more here 👇 https://lnkd.in/e2uqyYjp #ACA #healthinsurance #healthcare #healthcarepremiums

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