{"id":76,"date":"2014-08-14T09:16:52","date_gmt":"2014-08-13T23:16:52","guid":{"rendered":"http:\/\/magazine.riskinfo.com.au\/16\/?p=76"},"modified":"2014-08-15T04:45:45","modified_gmt":"2014-08-14T18:45:45","slug":"editorial","status":"publish","type":"post","link":"http:\/\/magazine.riskinfo.com.au\/16\/editorial\/","title":{"rendered":"Editorial"},"content":{"rendered":"<img loading=\"lazy\" decoding=\"async\" class=\"alignleft\" style=\"margin: 0px 2em 1em 0px;\" src=\"https:\/\/dl.dropboxusercontent.com\/u\/2128152\/riskinfo\/eMag\/15\/img-peter-sobels.jpg\" alt=\"Editor - Peter Sobels\" width=\"200\" height=\"300\" \/>\n<h2>A rising tide lifts all boats<\/h2>\n<p>The life insurance industry must accept responsibility for its ultimate failure to effectively communicate the importance of life insurance to Australian consumers and their families.<\/p>\n<p>\u2026 And then it has to actually do something about it.<\/p>\n<p>Time and time again we\u2019re reminded by politicians and prominent people within the industry that governments will not step in to take up the cause of promoting the life insurance message to consumers.<\/p>\n<p>It\u2019s time for a unified, collaborative, substantial effort, funded by all life insurance companies.<\/p>\n<p>Individual initiatives and campaigns may prove effective in helping to make a difference in many people\u2019s lives. But to create a meaningful impact across the mass population requires scale beyond the capabilities of adviser associations or individual life insurance companies.<\/p>\n<blockquote><p>It\u2019s time for a unified, collaborative, substantial effort, funded by all life insurance companies<\/p><\/blockquote>\n<p>One of the difficulties for life companies in contributing to the cost of generic public awareness campaigns is that the benefit of any increased consumer take-up in life insurance will deliver value for all insurers. So, those companies who have funded the campaign will effectively be providing a \u2018free kick\u2019 for their competitors who have not contributed to its cost. Giving your competitors this kind of benefit doesn\u2019t go down well with shareholders.<\/p>\n<p>If all life companies could find a way to come together and deliver the funding, perhaps proportional to the value of their in-force books of business, then maybe we could finally witness a serious, game-changing, united message to the mass public by Australia\u2019s life insurance sector.<\/p>\n<p>The benefit to financial advisers of such a campaign would be immense, as the life insurance message will have reached many more clients and prospective clients and prepared the way for the sometimes difficult conversations that come with the territory.<\/p>\n<p>This call to action is beautifully articulated by eminent US life industry identity, Brian Ashe. Brian was a panellist on an international adviser round table event hosted by riskinfo at this year\u2019s MDRT Annual Meeting in Toronto. Talking to the panel about the same issue in the US, Brian\u2019s simple message was that \u201c\u2026 a rising tide lifts all boats.\u201d<br \/>\n<img loading=\"lazy\" decoding=\"async\" class=\"alignnone  wp-image-98\" alt=\"sig-Peter-S\" src=\"https:\/\/dl.dropboxusercontent.com\/u\/2128152\/riskinfo\/eMag\/15\/sig-Peter-S.png\" width=\"173\" height=\"98\" style=\"margin-top:2em;\" \/><\/p>\n<p>Peter Sobels<\/p>\n<div class=\"boxWhite\">\n<h3>We\u2019d like your feedback on our new, digital magazine format<\/h3>\n<p>Share your comments below or <a href=\"mailto:info@riskinfo.com.au\" target=\"_blank\">send us an email<\/a>.<\/p>\n<\/div>\n<p><div class=\"woo-sc-hr\"><\/div><br \/>\n<div class=\"twocol-one\">\n<div class=\"homeTile feature\"><\/div>\n<\/div><div class=\"twocol-one last\">\n<div class=\"homeTile feature\"><\/div>\n<\/div><div class=\"clear\"><\/div><\/p>\n<script type=\"text\/javascript\">if (typeof(addthis_share) == \"undefined\"){ addthis_share = {\"passthrough\":{\"twitter\":{\"via\":\"riskinfonews\"}}};}\n\nvar addthis_config = {\"data_track_clickback\":false,\"data_track_addressbar\":true,\"data_track_textcopy\":true,\"ui_atversion\":\"300\"};\nvar addthis_product = 'wpp-3.5.9';\n<\/script><script type=\"text\/javascript\" src=\"\/\/s7.addthis.com\/js\/300\/addthis_widget.js#pubid=ra-53a3668b19172d69\"><\/script>","protected":false},"excerpt":{"rendered":"<p>A rising tide lifts all boats The life insurance industry must accept responsibility for its ultimate failure to effectively communicate the importance of life insurance to Australian consumers and their [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[],"class_list":["post-76","post","type-post","status-publish","format-standard","hentry","category-editorial"],"_links":{"self":[{"href":"http:\/\/magazine.riskinfo.com.au\/16\/wp-json\/wp\/v2\/posts\/76","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/magazine.riskinfo.com.au\/16\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/magazine.riskinfo.com.au\/16\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/magazine.riskinfo.com.au\/16\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/magazine.riskinfo.com.au\/16\/wp-json\/wp\/v2\/comments?post=76"}],"version-history":[{"count":0,"href":"http:\/\/magazine.riskinfo.com.au\/16\/wp-json\/wp\/v2\/posts\/76\/revisions"}],"wp:attachment":[{"href":"http:\/\/magazine.riskinfo.com.au\/16\/wp-json\/wp\/v2\/media?parent=76"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/magazine.riskinfo.com.au\/16\/wp-json\/wp\/v2\/categories?post=76"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/magazine.riskinfo.com.au\/16\/wp-json\/wp\/v2\/tags?post=76"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}