Time To Gear Up For Change; The End Of The Pandemic Leads To Change In The Australian Insurance Space.
Change is inevitable. No matter what industry you work in, economic disruption will naturally find its way through every sector. Whether that brings upon unwelcome change or some much-needed change, it’s bound to happen.
When the pandemic hit Australia in early 2020, it became an agent of change in the most disruptive form. Well, the pandemic still isn’t over but now it’s time to gear up for change in the Australian insurance space.
Luckily for the Australian insurance space, the changes that have come about thanks to the pandemic are largely positive. Throughout COVID-19 Australian insurers and brokers adapted well and proved their resilience during the whole ordeal. Ultimately, they got to show the critical role that the insurance industry has on our economy.
Insurance is critical in unprecedented times, those of which we’ve struggled through in 2020 & 2021. This showed everyday Australians how important it is to have a backup plan if something is to go wrong. It just went to show that we never know what is going to happen and that our lives are ultimately and always uncertain.
As a result, the pandemic boosted interest and demand for a range of insurance policies. The economic impact saw many people appreciate what it is like to have a regular flow of money, which meant more people were thinking about income protection insurance.
While unfortunately the loss and illness that was caused by the pandemic had others thinking about TPD (total and permanent disability), Trauma, and Accidental death cover.
Many people began thinking about the possibilities and how they could protect themselves and their family’s financial stability if anything were to happen to them. The pandemic also changed the needs of clients, as everyone’s circumstances altered during this period. With more people becoming casual or freelance workers, it changed the demographic of who was looking for protection. The flexibility in working arrangements is likely to be one of the most prominent long-term changes.
The economy and our population will never be the same, which will naturally cause a long-term change.
Luckily for those who are now looking for insurance policies, they can get all of their policies under one roof to make it easy. Aspect Underwriting is a general insurer that can provide income protection, TPD, accidental death, and trauma insurance across Australia.
Pandemic boosts demand for income protection insurance ? https://t.co/dEeLcyJDkG
— Business Day (@BDliveSA) July 4, 2021
Aspect Underwriting not only offers market-leading accident and health products to meet your personal needs, but also provide tailored and well-priced insurance solutions. This way, they can provide you with a personalised solution that falls into your specific budget.
The best part? It is quick and straightforward. You can quickly jump onto the Aspect Underwriting website and get a fast and easy quote on any range of policies. After you have done that, you don’t need to meet with anyone or even talk to anyone; you can purchase your policy online within minutes.
So, if the last couple of years has got you thinking about protecting your family from the unknown, then head over to their website now and discover your safety net.
Mike Wallis
Mike has over 25 years experience, having spent his first seven years working as a Broker at Jardine Lloyd Thomson in Melbourne and in 2002 was transferred to JLT’s Accident and Health Department in London. For four years (2002 – 2005) Mike was a specialist A&H Lloyd’s Broker and during this time developed excellent relationships with the Lloyd’s A&H underwriting fraternity. In 2006 he returned to Australia in a senior broking position with overall responsibility for Placement Strategy, including the implementation of underwriting facilities and the various authorities granted by Lloyd’s. Mike was the underwriter at two specialist Underwriting Agencies prior to founding Aspect Underwriting in 2016.
