LMI PolicyComparison has just passed a major milestone with over 1,000 current general insurance policies being compared at any one time. In fact, as of today, comparisons total 1,020 across 27 classes of general insurance. When you add the various sections of the business packs compared, the current comparisons exceed 2,400.
In addition to the current policies, users are able to go back to July 2003 and compare the policy in place on the day the policy was arranged, to others available on that date.
The Policy Library now exceeds well over 10,000 policies (current and superseded).
With over 250,000 comparisons carried out each year, LMI PolicyComparison has now become an essential research tool for every insurance professional wishing to provide meaningful advice to their client and/or to understand the differences in policy coverages available in the Australian or New Zealand market.
Managing Director of LMI Group, Dr Allan Manning, praised the work of Peter Jenkins, head of LMI PolicyComparison, and his dedicated team of researchers for their accurate and timely work in keeping the eService up-to-date in not only the comparisons, but the fields that are compared. During the interview, Allan explained that each comparison template is reviewed and updated every 2 years as a minimum.
He also made special mention that the 1,000 milestone was a far cry from the 50 policies being compared when LMI PolicyComparison was officially launched at the 2003 NIBA conference.
Dr Manning expressed appreciation to all the subscribers and users whose continued feedback and ideas have seen the eService continue to improve and grow.