Presentations from ASIC's Financial Literacy
Community of Practice delivered in 2017.
How can we make disclosure work
better for consumers?
26 May 2017
Denise Hang, Insurance Council of Australia
Effective product disclosure is an ongoing challenge for
consumer contracts of all kinds around the world. Delivering
information at the right time, and in the right way, to improve
decision making is complex. In 2015, the Insurance Council
established an independent taskforce to assess the effectiveness
of, and recommend initiatives to enhance, product disclosure.
This presentation outlined the findings from research that has
been conducted by the Insurance Council into consumer pre-purchase
decision-making and the role of disclosure in helping consumers to
purchase general insurance that meets their needs. Read the
ICA research report.
Council of Australia - presentation
Clare Marlin, ASIC's Behavioural Economics team
Clare has been researching and reporting on consumer and
investor behaviour for 20 years, including ASIC's disclosure
research. In this presentation, Clare highlighted ASIC's research
on the limits of disclosure and draws on common themes across
ASIC's significant bank of consumer and investor research, as well
as relevant principles from the behavioural sciences.
Behavioural Economics - presentation
Achieving results for Indigenous
28 April 2017
Nathan Boyle, ASIC's Indigenous Outreach Program
Nathan presented on recent court outcomes in the
Channic car loans case and Mintabie book up matter and
explained how ASIC approached these investigations in new ways to
ensure they were culturally appropriate, in order to gain a fuller
picture of the financial agreements made by Indigenous
Nathan also explained some of the key financial literacy gaps
for Indigenous consumers and gave an update on the IOP's work to
improve access and knowledge around superannuation.
Achieving results for Indigenous consumers, ASIC's
Start Smart story book and
ASIC's MoneySmart Teaching
31 March 2017
Kylie Macfarlane, General Manager Corporate Responsibility,
Start Smart is the country's largest financial education program
reaching more than 500,000 school students in the last year.
In 2016, CommBank piloted a program extension with an educational
story book and virtual reality experience for young kids and
parents to enjoy together.
This presentation detailed insights from the pilot and how the
initiative has triggered new thinking about how best to teach money
Start Smart story
book and virtual reality experience
Miles Larbey, Senior Executive Leader,
ASIC's MoneySmart Teaching is the Australian Government's
financial literacy program for schools, supported by State and
Territory education departments. ASIC works collaboratively with
the formal education sector to support teachers in the classroom
and develop in students from a young age the knowledge, skills,
behaviours and attitudes to make informed decisions about money and
This presentation highlighted ASIC's MoneySmart Teaching program
new resources for school communities and online professional
learning modules to build teacher's confidence and capability in
financial literacy education.
Teaching program resources
effectiveness of a text message nudge
24 February 2017
Professor Roslyn Russell, RMIT University
Dr. Wayne Warburton, Macquarie University
The Wesley Mission 'In Charge of My Money' Financial Literacy
program aims to help vulnerable people build financial capabilities
to manage their money and avoid getting into debt.
In this presentation, Professor Roslyn Russell and Dr Wayne
Warburton presented details of the first evaluation of Wesley
Mission's Financial Literacy program and the effectiveness of
follow-up reminders to increase the chance of sustained change.
Evaluating the Wesley Mission Financial Literacy Program
Last updated: 29 May 2017