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Commission is not a universal issue, value is

Commission is not a universal issue. The issue at stake is value.

Take this article, which makes a feature of the chart showing commission as a percentage of premiums. That is shown without, for example, pointing out that more than half of the insurance sold carries no commission payable to an adviser. The absence of that fact must really annoy those insurers who built their business model without any commission payments. It proceeds to extensively quote Jessica Wilson of the Consumers Institute, for example "The report shows the issues that we have been highlighting in this industry — particularly around commission-based selling and the problems that that has created for consumers being sold some poor value products and paying high premiums as a result" which would neatly manage to annoy all the remaining insurers that have a lot of data to point out how competitive their products are with the market as a whole, including those that pay no commission. But taken together, what this does illustrate is that commission isn't the universal problem - the value is the problem.






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