Comprehensive 2025 Life Insurance Data Released by APRA and ASIC

The report encompasses data from 13 Australian life insurers engaged in direct business, excluding reinsurance activities. Key metrics include claims acceptance rates, the duration taken to settle claims, the volume of disputes, and policy cancellation rates. Such comprehensive data is instrumental in assessing the reliability and efficiency of life insurers operating within Australia.

In conjunction with this release, ASIC has updated its MoneySmart Life Insurance Claims Comparison Tool. This online resource enables consumers to compare insurers across various cover types and distribution channels, facilitating informed decision-making when selecting life insurance products.

For policyholders and potential customers, this data serves as a crucial resource to assess the reliability and performance of life insurers in Australia. It highlights the importance of transparency and accountability within the industry, ensuring that consumers can make informed choices about their life insurance coverage.

As the life insurance sector continues to evolve, such publications play a vital role in maintaining trust and confidence among consumers. They also provide insurers with valuable feedback to improve their services and address any areas of concern identified through claims and disputes data.