Working together for a better future

The role of research

Over the past two years, we’ve been on a mission to uncover new insights and ideas around every aspect of Income Protection: from how we describe it to new customers to how it supports your clients when they needed to make a claim. 

We’ve challenged our thinking and traditional approaches and, most importantly, talked to you and your clients, because that was the only way we’d really understand what you need. 

Our research helped uncover some important insights

We have used our research & insights to develop a product solution that addresses the problems with Income Protection, resulting in a fairer outcome for customers. Here are just a few highlights:



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Most claims are finalised within two years
Our portfolio experience showed that 92% of Income Protection claims are completed within two years of commencing, with only 8% continuing beyond two years.

Replacement ratio is not the only factor that drives long-term claims experience

Analysis of 2,500 claims found that claim recovery experience is comparable across the range of replacement ratios. 
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Long-term claims by a minority result in higher premiums for all policy holders.
The 8% of claims that continue beyond two years account for the 80% of the total amount we pay in retail Income Protection claims. 

It's important to make sure we can offer long-term cover options for those who genuinely need it. 

The advisers, customers and consumers we spoke to said that they still wanted to be able to access quality, long-term coverage for all causes of claim.