Legal and regulatory update for the life and health insurance sector
Quality Product Research: Addition of AIA Cancer Care

QPR v14.2 is now live!

The QPR team have been working hard to implement changes to our website and Research in order to keep up with the changes in our fast-paced industry. 

Recent updates to Quotemonster: 

  • Quoting to reflect Life buyback is in-built for Asteron Life (TPD only) 
  • Enabling Class 5 TPD Accelerated Any Occupation for Asteron Life (occupation needs to be verified with the insurer)
  • Previously the QPR package score was based on the main client, we have now separated this so that each client will show their own package score according to the selected benefits. The star rating is an average of all the clients in the quote.   

Package

  • New drop-down menus option in “Settings”
  • To update your Product or Occupation Setting, click “Quote Settings”
  • To update your Adviser Profile or Security Setting, click “User Settings"
  • To update your Needs or SOA Setting, click “Needs Analysis Settings” (only available to Advicemonster subscribers)

Menu

  • For Advicemonster users, we have made a couple of changes to the SOA report. We have improved the formatting in the summary recommendations table to make it easier to edit and stopped TPD from appearing in the product options table when TPD is not selected. 
  • New “Service Status” feature located at the bottom of your Quotemonster screen. This will provide updates on any upcoming maintenance or current technical issues with our website

ServiceRecent updates to QPR Research:

  • AIA Cancer Care rated (select this in your Product Settings Screen)

Capture

  • Cigna – Assurance Extra policy document 12/04/2021 loaded (no rating changes applied)
  • Westpac – Term cover policy document 15/03/2021 loaded
    • Life - no rating changes applied
    • Trauma  - rating changes applied

Rating reviews:

  • Life
    • Inflation Adjustment – re-rate for all companies (rating added for MAS)
    • Special Events Increase – re-rate for all companies
  • Trauma
    • Exclusions re-rate for Co-Operative Bank
    • Inbuilt Childs Trauma – re-rate for all companies
    • Diabetes mellitus (adult) renamed to Severe Diabetes – re-rate for all companies
    • Benign brain and spine tumour – re-rate for all companies
    • HIV- Medically Acquires – re-rate for AIA
    • Rheumatoid Arthritis – re-rate for Partners Life
    • Inflation Adjustment – re-rate for all companies
    • Cancer Critical – minor re-rate for Kaposi Sarcoma only
  • Medical
    • Overseas treatment re-rate for nib
    • Diagnostic Tests re-rate for all companies 
    • Minor Surgery amount score correction for nib 
  • Income Protection & Mortgage Protection
    • Rehab and Modifications re-rate for AIA
  • TPD
    • Inflation Adjustment – re-rate for all companies

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