Editor’s Letter – Autumn 2018

Welcome to the Autumn Edition. Our first edition for this 2018 ALUCA Conference year!

January is supposed to be the month of planning for the year ahead, to catch-up on professional development, nail those annual intranet compliance modules and leave work on time. What on earth happened this year?  It’s the busiest start to a year that I can remember and after speaking to many peers in both underwriting and claims, it appears to have been an industry-wide phenomenon. With so much governance and M&A change upon us, surely a positive prognosis for 2018.

Once again we have a jam-packed line-up of quality articles for you, along with our regular columns and updates….

The unintended theme for this edition is Resilience.

I asked for two medical articles with no specific subject matter and were provided with two outstanding articles that explore Resilience from quite different angles. 1) Medical Consultant (AIA) and prolific ALUCA contributor, Goran Lazic has interviewed Dr Natasha Lazareski for ReB titled, Individual Resilience – what is it and how can it help the Life Insurance Industry? – With Natasha’s extensive clinical experience in building resilience together with her substantial life insurance background, she is well qualified to share how we can all apply resilience within our industry. 2) The topic of mental illness is a constant in life insurance claims and underwriting. As industry professionals we keep abreast of best practices and challenge our thinking to gain a deeper understanding of this insidious illness. On that note read the entertaining article for ReB titled, Curveball from the Couch with Psychiatrist Dr Doron Samuell on “I Found My Cheese.”

In a Postcard from Singapore – High Net Worth (HNW) Senior Underwriting Manager (Munich Re, Singapore), Andrew McPherson discusses his relocation from Melbourne to Singapore and his leap into the GIGANTIC Asian HNW/ultra-HNW life business market. Interestingly, the reasons why the super wealthy take-up sumo-size life insurance in Asia differs greatly to Australasia. Andrew explains why, and illustrates the massive growth projected in this niche market.

On the financial front, Accountant and National Claims Manager (AIA), Ryan Katzen goes back to basics and explores the purpose and intention behind income protection insurance, and how we define income as opposed to personal exertion. A practical case is included.

ALUCA Planning Day and Board Meeting
ALUCA Planning Day and Board Meeting

On the 21st of February, I attended the ALUCA Planning Day and Board Meeting at AMP House in the Melbourne Docklands. It was an enjoyable day with enthusiastic and outcome driven discussions.

For me it was also a time to reflect on the remarkable progress that ALUCA has made in so many areas – not only over the last 12 months but over the last 5 years.

Of course it’s impossible for this to have occurred without high performing, passionate people – and leaders. It was also encouraging to hear that ALUCA membership has climbed to 1615!

In closing, a huge thank you as always to our contributors.  I hope you really enjoy this Autumn Edition of RiskeBusiness and please feel free to provide me with your feedback at Michael.Reid@aia.com.

I look forward to bringing you the Winter Edition scheduled for the end of June.

Take care

 

Michael Reid
ReB Editor

Michael.Reid@aia.com 
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