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APRA: TPD Insurance Claim statistics - Wise Financial Services
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APRA: TPD Insurance Claim statistics

APRA: TPD Insurance Claim statistics

Average claim duration for non-advised policies – June 2020 (Issued 20 October 2020)

TPDTotal Finalised Claims0-2 weeks> 2 weeks to 2 months> 2 months to 6 months> 6 months to 12 months> 12 monthsEst. average duration (months)
  %%%%% 
Total6325.4%19.0%20.6%25.4%9.5%5.9

Total claims received and finalised for non-advised policies – June 2020 (Issued 20 October 2020)

TPDTotal Claims ReceivedTotal Claims ReceivedFinalised ClaimsFinalised ClaimsFinalised Claims
 Number of claimsAverage Sum insured 
($ thousand)
Number of claims% of receivedAverage Sum insured 
($ thousand)
Tot.1062966460.4%232

List of insurers surveyed:

  • AIAA
  • Allianz
  • AMP
  • Asteron
  • ClearView
  • CMLA
  • Hallmark
  • Hannover Re
  • HCF
  • Integrity
  • MetLife
  • MLC
  • NobleOak
  • OnePath
  • Qinsure
  • St Andrews
  • Swiss Re
  • TAL
  • Westpac
  • Zurich

Link to APRA statistics

https://www.apra.gov.au/life-insurance-claims-and-disputes-statistics



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