AFIA Welcomes New Members to Insurance Premium Funding Code of Practice
15 December 2023
The Australian Finance Industry Association (AFIA) is pleased to announce that AFIA members Arteva and QPR have been accredited to the Insurance Premium Funding Code of Practice (‘the Code’) by the Insurance Premium Funding Code Compliance Committee (IPF CCC), demonstrating our industry’s ongoing commitment to high standards and professionalism.
These new Code members join Hunter Premium Funding, IQumulate and Elantis as signatories to the Code. This expansion signifies a robust growth in the Code’s influence and reach within the industry.
AFIA Chief Executive Officer, Diane Tate, expressed her enthusiasm about this significant milestone, saying: “The addition of Arteva and QPR to the IPF Code is a testament to the industry’s dedication to customer service excellence and consumer confidence. Our members' commitment to the IPF Code underlines our collective responsibility to uphold the highest standards of professionalism. It's more than compliance, it's about lifting standards and ensuring products, services, and technologies deliver better customer outcomes.”
Since the IPF Code came into effect on 1 October 2022, there has been a positive momentum in the industry and the CCC has been actively engaged in accrediting members.
Ms Tate added: “The growing list of code compliant members reinforces the robustness and relevance of the IPF Code in today’s dynamic financial landscape. Each new member brings us a step closer to our goal of industry-wide coverage and continuous improvement in customer service.”
The IPF CCC continues its vital role in guiding members through the accreditation process. “The accreditation process to become a Code signatory is rigorous, and it is very pleasing that there are now five Code Compliant Members,” said Vicki Mullen, Chair of the IPF CCC. “The Code Compliance Committee looks forward to considering further accreditation applications in 2024, and undertaking our Code compliance monitoring duties.”
Ms Tate said: “The IPF Code remains a leading example of a voluntary industry code, reflecting evolving consumer expectations, economic conditions, and the regulatory environment.”
For more information about the IPF Code, go to the IPF Code section of AFIA’s website.