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After a recent newsletter published by FAnews on the Retail Distribution Review (RDR), it is evident that many financial planners feel that RDR cannot be disguised as being in the best interest for them.
The date for industry comment on the Financial Services Board’s (FSB) Retail Distribution Review (RDR) White Paper has come and gone, now the industry has to sit and wait to see what will be the final standpoint of the FSB on this controversial matter.
The growing desire from clients to have personalised insurance policies creates a significant opportunity for the industry to grow and prosper. By catering for individual needs, the industry is able to enhance product offerings and assess the type of cover required for each target market.
Growth in the insurance industry over the past two years has been hard to come by. Besides the added pressure to comply with new regulation, there have been added cost pressures and underwriting margins which do not allow companies much room for growth.
Do you think short-term insurance broking will survive the AI plus humanoid robotics age?