MJW report scores a D

Good on the life insurance company members for having a crack at trying to solve the issue of churn in the industry. Pity about the outcome though - the controversial and already discredited Review of Retail Life Insurance report written by Melville Jessep Weaver.

The report is a fail when it comes to achieving the goal. And the Financial Services Council, was the wrong body to try and solve the issue. 

It is abundantly clear the authors rushed the report and don’t fully understand what they are writing about.

There is only one graph in the report that is repeated many times. This appears to be one of the key premises its conclusions are based on.