James is the Founder & CEO of MEETIG8, Australia's first online marketplace for Risk, Compliance and Internal Audit short-term gigs. MEETIG8 enables companies of all sizes to connect directly with vetted independent specialists and boutique firms for Risk Management, Regulatory Compliance, and Internal Audit…
Uprise.co is breaking new ground in removing the stigma attached to mental health. Paul Muir interviewed Uprise CEO & co-founder Jay Spence.
"An insurance policy that excludes on the basis of mental health is neglecting to recognize that this is a person who has been categorized as having something that is temporary rather than permanent."…
“It’s not just travel insurance, it’s people’s lives, it’s people’s incomes. They are being refused that just because they have a mental illness … I don’t think that it’s fair.” (Ella Ingram)
In 2015, the Victorian Civil and Administrative Tribunal found that QBE insurance discriminated against Ella Ingram. In 2017, predominantly as a result of Ella’s case, a number of insurers reviewed their travel insurance policies removing blanket exclusions for mental health conditions. Discrimination is not restricted to travel insurance.
Mental illness has proven to be a challenge for the general and life insurance industry who have historically approached the issue from a regulatory compliance perspective.
There are currently numerous digital applications being used independently of insurance or in connection with health insurance. These applications fall within the four types.
Recent media releases by Australian Securities and Investments Commission (ASIC) relating to Add-On* insurance and life insurance highlight that customers do not understand the cover they have purchased.
The disclosure taskforce highlighted the failure of the disclosure regime as an inherent design flaw.
'…efforts have largely focused on legal and compliance imperatives to provide accurate information which was, in some sense, clear. The behavioral science contribution to the work of this Taskforce has significantly refocused attention on communication outcomes, rather than simple well-meaning legal tests.’
WHAT DOES A BEHAVIORALLY BASED DISCLOSURE APPROACH LOOK LIKE?