Not the case study that you would welcome, page-55

91 call center sales staff.

But what % of these are used for outbound sales and what % used for non-outbound sales.
For life insurance, per the ASIC review outbound as been significantly reduced already.

The risk is around outbound funeral insurance, since funeral insurance wasn't part of the ASIC review. If you read through the ASIC report there was actually a review several years ago, the current ASIC review showed reduced outbound sales on life insurance (from the 6 firm review only 1 was still doing outbound). So the trend has been away from outbound anyway.

But now this outbound restriction is now been layered upon the selling of funeral insurance.
I think this caught both FIG and the market by surprise.

per investors presentation 17/4/2018: 88% of sales mix is funeral insurance.

So the ASIC review will have an effect on FIG.

But the question as to its severity will depend on what % of funeral insurance sales are being generated from outbound sales????

This is what I am trying to investigate.
Get this right, and will be better able to accurately value FIG.