Phil Thompson

speaker

1,592 appearances 4 recordings 3 series first heard Apr 2026 last heard 25 Aug

Phil Thompson’s voice in public audio — every appearance, attributed to the second.

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Recordings per month over the last 12 months — 4 in all, peaking in Aug 2026 with 1.

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Australian Finance Podcast · Insurance Q&A: exclusions, loadings, claims & the $1.4 million dispute · 9 Jul 2026 podcast

So that's why we ask a lot of questions up front because we want to give the client a full understanding of, hey, this is likely going to have a mental health exclusion or a back exclusion, whatever the exclusion is, just so they can make that informed decision.

Yeah.

Now, it's not always the same outcome.

So, sometimes the outcome may be different based on, you know, the information we collected, the client forgot something when they were telling us and then disclosed it to the insurer.

So, sometimes there is a different outcome.

Yeah.

But ideally, we want it to either be as what we recommend or better.

Well, at the end of the day, from a client's point of view, they can decide not to take our cutback if they choose to.

As advisors, what we do is we try and guide our clients and go, hey, based on the information we have, everyone's going to do the same.

So we can go and apply for seven other insurers, but you're going to waste your time and waste the insurer's time because we know the outcome is going to be the same.

Sometimes there is borderline competition.

exclusions where we think actually, I think that's unreasonable.

So in terms of our process at Sky, every time we get terms, so exclusions or loadings that we don't expect, we do a whole bunch of work in the background, even before we talk to the client.

Our advisors will look at that.

We look at what we were told.

We look at what the insurer was told.

And then we make an assessment of going basically, yeah, we think that's reasonable based on the information.

And so we'll go to the client and say, hey, we didn't expect this, but we think it's reasonable because everyone will do it.

Or if it's unreasonable, then that's when the advisor will, even before we talk to the client, we'll pick up the phone to the underwriter and just say, hey, we think that's ridiculous.

So normally before we talk to the client about what the terms are, we've already made that assessment, whether we think it's reasonable or not.

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