
APRA: TPD Insurance Claim statistics
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in Insurance Claims
Average claim duration for non-advised policies – June 2020 (Issued 20 October 2020)
TPD | Total Finalised Claims | 0-2 weeks | > 2 weeks to 2 months | > 2 months to 6 months | > 6 months to 12 months | > 12 months | Est. average duration (months) |
% | % | % | % | % | |||
Total | 63 | 25.4% | 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)
TPD | Total Claims Received | Total Claims Received | Finalised Claims | Finalised Claims | Finalised Claims |
Number of claims | Average Sum insured ($ thousand) | Number of claims | % of received | Average Sum insured ($ thousand) | |
Tot. | 106 | 296 | 64 | 60.4% | 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