Australian Risk Adviser has this interesting article on "churn" although we think that they mean "switching rates" generally. The items that stand out are the role of insurance in superannuation and the Zurich survey.
Andy Marshall argues that with more than 40% of insurance premiums in superannuation when consumer budgets are stretched they must lapse or switch their non-super cover in order to meet budget objectives.
On the subject of commissions Marshall argues:
"Zurich’s own research has shown that unless we have commissions as a way of allowing clients to fund their financial advice, as many as 60 per cent would simply walk away and be in danger of chronic underinsurance."