Our Work Plan sets out our priorities and activities to monitor and improve life insurer’s compliance with the the Code and support good consumer outcomes.  

Our 2024-25 Work Plan sets out our priorities and activities to monitor and improve life insurer’s compliance with the Life Insurance Code of Practice (the Code) and support good consumer outcomes.  

We take a risk-based approach to monitoring compliance with the Code to ensure that we are focusing on the most important issues impacting industry and consumers. If needed, the Work Plan activities may revised to address new issues. 

Key priorities in 2024-25

In addition to our primary functions and ongoing monitoring and enforcement activities, the key planned priorities for the Life CCC for 2024-25 include:  

  1. Conduct an Own Motion Inquiry examining subscriber compliance with claims handling timeframes, including where initial decisions are overturned.   
  2. Conduct a targeted inquiry to check how subscribers are meeting their obligations to provide additional support to Aboriginal and Torres Strait Islander customers.    
  3. Conduct investigations and risk-based targeted monitoring of Significant Code breaches and testing to ensure the rectification and remediation efforts of life insurers are resulting in improved compliance (remediation audits) 
  4. The Annual Data and Compliance Programme Report including our analysis of key Code compliance trends based on aggregated industry self-reported breach data.  
  5. Individual subscriber benchmark reports to provide subscribers greater insights on relative performance, identify outlying results and areas for further improvement. This includes a focus on addressing possible under-reporting of Code breaches. 
  6. Provide industry guidance on compliance with the Code through the publication of Determinations, Guidance Notes and Case Studies. This includes the development of a Guidance Note clarifying how Life insurers can meet their obligation to have a primary contact person throughout the claims process (clause 5.4). 
  7. Reviewing and improving our investigations framework to incentivise self-reporting of Code breaches and ensure proactive work is targeting significant and emerging risks. 
  8. Work with CALI and Code subscribers to review and improve the annual breach data collection.