The financial ombudsman is opening up to feedback in how it approaches complaints over insurance with an aim to have them resolved more efficiently.
Australian Financial Complaints Authority is reviewing its Approach policy on how it handles disputes over general insurance claims with consideration of an insurers’ legal obligations and industry standards.
The review will have a particular focus on claim delays, along with claim denials and cash settlements, issues it lists as being among the most frequent.
The appeal for feedback comes after another year where the preliminary log of complaints to the authority exceeded 1000,000 and motor insurance figured highly in the list of products complained about.
AFCA listed comprehensive vehicle insurance as the most complained about insurance product and said the industry needed to communicate better with customers about delays, often caused by the skills shortage in the repair industry.
For this review, the Ombudsman wants to hear from all stakeholders including the general public in the review with an aim of better outcomes for claim disputes
“By participating in this consultation, stakeholders can contribute to creating more predictable and efficient resolution processes, which in turn can reduce the time and resources needed to handle complaints.”
The consultation period will be open until Friday 29 August 2025.
Submissions can be made through the AFCA website or by email at consultation@afca.org.au