Original article by James Frost
The Australian Financial Review – Page: 17 : 11-Dec-17
The insurance sector is seemingly an industry under siege, with its inclusion in Australia’s royal commission into the financial services sector its latest woe. Online calculators and comparison sites are making it easier for consumers to switch policies. Richard Enthoven, the chairman of insurance company Greenstone and the founder of insurance firm Hollard, points to social media as another cause of the industry’s problems. He contends that the practice of unhappy insurance customers complaining about their experience on Facebook and the like is pushing up the cost of insurance premiums.
GREENSTONE LIMITED, HOLLARD INSURANCE GROUP, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, FACEBOOK INCORPORATED, TWITTER INCORPORATED, INSTAGRAM LLC, COMMINSURE, KPMG AUSTRALIA PTY LTD