Comprehensive 2025 Life Insurance Data Released by APRA and ASIC
Insights into Claims and Disputes in the Australian Life Insurance Sector
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The Australian Prudential Regulation Authority (APRA) and the Australian Securities and Investments Commission (ASIC) have jointly released the Life Insurance Claims and Disputes Statistics for the year ending December 31, 2025.
This publication provides a detailed analysis of the performance of the Australian life insurance industry, offering valuable insights for policyholders and industry stakeholders alike.
The report encompasses data from 13 Australian life insurers engaged in direct business, excluding reinsurance activities. Key metrics include claims acceptance rates, the duration taken to settle claims, the volume of disputes, and policy cancellation rates. Such comprehensive data is instrumental in assessing the reliability and efficiency of life insurers operating within Australia.
In conjunction with this release, ASIC has updated its MoneySmart Life Insurance Claims Comparison Tool. This online resource enables consumers to compare insurers across various cover types and distribution channels, facilitating informed decision-making when selecting life insurance products.
For policyholders and potential customers, this data serves as a crucial resource to assess the reliability and performance of life insurers in Australia. It highlights the importance of transparency and accountability within the industry, ensuring that consumers can make informed choices about their life insurance coverage.
As the life insurance sector continues to evolve, such publications play a vital role in maintaining trust and confidence among consumers. They also provide insurers with valuable feedback to improve their services and address any areas of concern identified through claims and disputes data.
Please Note: We do not endorse any specific products or companies. Some content is sourced from third parties, including press releases, and may not be independently verified for accuracy or completeness.
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Knowledgebase
Term Life Insurance: A life insurance that provides a cover for a specific period of time - usually one to five years or until the insured reaches age 65 or 70.
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