We distribute insurance products on behalf of insurers through licensed insurance brokers. We are committed to supporting fair customer outcomes and ensuring products are distributed to customers they are intended for.
We have controls in place to help ensure that the insurance products we distribute:
Customer outcomes are considered throughout the life of each product.
We work with insurers to understand who each product is designed for. Products and material changes are reviewed before distribution, with final approval provided by the insurer.
Distribution through brokersOur products are distributed exclusively through licensed insurance brokers under agreed terms. Brokers must meet our distribution requirements and understand the types of customers the products are suitable for.
Ongoing monitoringWe monitor products to help ensure they continue to perform as expected and remain appropriate for the intended customers. This includes reviewing claims, complaints and other relevant information and sharing insights with insurers.
Product changes or withdrawalWhere issues are identified, products may be updated, distribution arrangements adjusted, or products withdrawn where appropriate.
A Target Market Determination is prepared for each retail insurance product we distribute and made available on our website. The TMD outlines:
TMDs are reviewed when required, and significant dealings outside a TMD are reported in line with regulatory requirements.
A TMD is not part of the insurance contract, customers should refer to the relevant Product Disclosure Statement (PDS) for full details of the product.