CASE STUDIES

Understanding insurance

Insurance plays an important part in our lives, but many people do not fully understand insurance and its role. We recognise that the community would like to know more about insurance, including how premiums are priced, how insurance companies rate risk and how to reduce the chance of accidents happening in the home, on the road and in the workplace. We developed the 'Insurance Basics' education programe to provide the community with a better understanding of insurance and how it works. It also outlines ways to reduce risk. To learn more about insurance, download the Insurance Basics Booklet (PDF 1.25MB).

Brad, a Product Development Manager for SGIO in Western Australia, conducts Insurance Basics education sessions at a community college in Perth. He believes the appetite for insurance knowledge within the community is increasing, "The collapse of HIH, public liability issues and various natural disasters have given people more reason to start thinking about insurance. It's great to be able to proactively help them understand insurance. My experience in the industry has shown that most people don't think about their insurance until they need to make a claim," he said.

Underinsurance is a big issue for Australian communities, an issue which we tackled in our risk report "Would have. Should have. Could have". The findings of this report were also communicated through educational forums to our people across the business.