Chatswood serves the life and health insurance sector in New Zealand with market intelligence, data, and bespoke consulting services. Some of these are provided in conjunction with Quality Product Research Limited - a subsidiary that brings you Quotemonster.
We believe that good decisions are more likely to occur when we have good information about the market environment in which we operate. Intuitive leaps and creative decisions are always required, of course, but the more they are based on a firm foundation of observation, the better they tend to be.
Using Company Reports on Quotemonster
Find out how to get additional information for specific insurers, including key performance metrics.
Find out how to get additional information for specific insurers, including key performance metrics, using Company Report.
Prohibited Incentives - by Simon Papa of Cygnus Law
Simon Papa at Cygnus Law writes about prohibited incentives on the Cygnus Law blog - well worth a read and to follow the website.
nib’s A Healthier Approach Launch events run across February
nib is running nib Ultimate Life & Living insurance and nib Balance launch events from 10 February - 3 March.
nib is running nib Ultimate Life & Living insurance and nib Balance launch events from 10 February - 3 March. The events will explore nib’s latest offerings, unveil comprehensive new nib products and insurance products and will feature a keynote speech from renowned psychologist, author and media personality, Nigel Latta.
Tauranga 10 February
Hamilton 11 February
Auckland 12 February
Wellington 14 February
Christchurch 17 February
Timaru 18 February
Dunedin 19 February
Invercargill 20 February
Queenstown 20 February
Auckland Central 24 February
North Shore 24 February
Nelson 25 February
Palmerston North 26 February
Napier 27 February
Whangarei 28 February
New Plymouth 3 March
Quotemonster team members will be at the following venues:
Auckland 12 February
Auckland Central 24 February
Auckland North Shore 24 February
Hamilton 11 February
We look forward to seeing you there.
More news:
Resolution Life has completed its acquisition of Asteron Life
nib’s 12 months free child health cover promotion ends 28 February
nib release their top 5 health claims for December 2024
Kiwimonster milestone 150 users!
Very quietly our free KiwiSaver comparison tool is being picked up by advisers - after only a few weeks we are at 150 users and rising. If you’re interested to find out more, visit www.kiwimonster.co.nz if you have a quotemonster login, that will work. If you don’t have a quotemonster login, follow the prompt to create one.
AM Best reaffirms Partners Life ratings
AM Best has reaffirmed the financial strength rating and the long-term issuer credit rating for Partners Life.
AM Best has reaffirmed the financial strength rating of A (Excellent) and the long-term issuer credit rating of “a” (Excellent) for Partners Life Limited, with the outlook for both remaining stable. AM Best categorises Partners Life’s balance sheet position as very strong.
More news:
TAP has launched a new AI Document Reader
Financial Advice NZ’s National Adviser Conference introduces sessions for new advisers
FSC Empower Women Networking Events 6 & 11 March
The Adviser Platform launch Insider Insights video series
68% of Australians are worried about paying for life insurance
Update to New Zealand Retirement Expenditure Guidelines released
How much will you spend in retirement? What do you want to spend?
On Tuesday the Massey Financial Education Centre launched its latest retirement expenditure guidelines. I thoroughly recommend that you have a look. Presented expertly by Associate Professor Claire Matthews, who also heads the school, and Dr Pushpa Wood ONZM, the revised expenditure guidelines offer a solid, real-world, basis for thinking about how much money is required in retirement. Jane Wrightson, Retirement Commissioner, added context to the presenting team by refreshing us all on where we are at with New Zealand superannuation policy. Nick Hakes, Chief Executive Officer of Financial Advice New Zealand and host for the event, was a great advocate for professionalism in financial advice.
In attendance was a small crowd of financial advice, investment, and policy nerds. The group even included two past Ministers of Commerce and Consumer Affairs (Heather Roy, now Independent Chair of Financial Advice New Zealand, and Simon Power, now CEO of Fisher Funds). We met in a pleasant shared office space in downtown Auckland.
Three things really stood out from the presentation:
1. Associate Professor Matthews highlighting that achieving the lump sum required to move from a ‘no frills’ budget in retirement to a ‘choices’ budget was less than many think, and therefore achievable. This practical optimism is often lost in the overly dramatic world of political debate, and is the natural ally of good quality financial planning.
2. Dr Wood’s caution that you can live on New Zealand Superannuation provided that: you own a home, you have no debt, and you’re happy with a simple life that includes almost no travel. Pushpa then added very supportive comments about the value of professionalism, boosting her host’s mission.
3. Jane Wrightson warned us against tinkering needlessly with New Zealand superannuation and encouraged our participation in the upcoming review of retirement income policies.
Pulling it all together, it felt like these are the lessons:
1. To boost quality of life in retirement we need comprehensive and lasting cross-party efforts to make housing more available and more affordable.
2. In the absence of good policy individuals can do much to steer their financial affairs better and advice helps a lot. It’s a big problem, but not insurmountable for the careful and well-advised.
3. The Massey Fin Ed Centre academics offer consistently practical and useful contributions that help guide financial advisers and their customers towards saving for a comfortable retirement.
A reminder: Kiwimonster is live – the new, free KiwiSaver comparison tool built specifically for financial advisers. Check it out at www.kiwimonster.co.nz
Changes on the horizon for Fidelity Life
Fidelity Life is set to release a suite of enhancements and programmes over the next couple of months.
Fidelity Life is set to release a suite of enhancements and programmes over the next couple of months. In a video featuring Campbell Mitchell, CEO and Bronwyn Kirwan, Chief Commercial Officer, Bronwyn mentions in a couple of weeks changes will be made to underwriting processes to make it easier for customers.
The invite-only Grow Together programme, which aims to provide market-leading support across key contact areas, with dedicated support resources, will be launching in February. More information will be released in the coming weeks.
Registrations are open for Group IQ, a quarterly digital communication with the latest industry news, and Group HQ, an annual onsite conference for the top 30 groups advisers offering tailored content, expert speakers and networking opportunities.
More news:
Survey of KiwiSaver members finds they’re open to increasing the minimum contribution rate
The FMA's 2025 fintech regulatory sandbox pilot is about to launch
Lee-Ann du Toit appointed new Chief Actuary at Chubb Life
Chubb Life New Zealand has announced the appointment of Lee-Ann du Toit as its new Chief Actuary. She will be part of the senior leadership team and report directly to CEO Gail Costa.
Chubb Life New Zealand has announced the appointment of Lee-Ann du Toit as its new Chief Actuary. She will be part of the senior leadership team and report directly to CEO Gail Costa. Du Toit has more than 25 years of experience in financial services and comes to Chubb Life from Deloitte New Zealand where she served as lead partner for Actuarial Service. Du Toit is also the president of the New Zealand Society of Actuaries.
Gail Costa said
“With our industry rapidly evolving, Lee-Ann’s extensive expertise in driving strategic business outcomes and fostering customer-centric solutions will be invaluable to Chubb Life NZ. The chief actuary plays an important role in supporting both our board and senior leadership team to make strategic business decisions, and we’re looking forward to having Lee-Ann’s voice and unique perspective at the decision-making table.”
More news:
Women in Insurance Summit 26 February in Auckland
Expressions of interest open for Partners Life's new adviser training course 24 - 26 February
Steve Wright shares his thoughts on CPD for giving life and health insurance advice
Massey Fin-Ed Centre Retirement Expenditure Guidelines released
Westpac launches several initiatives to improve accessibility
AIA appoints new Chief Distribution Officer and new Chief Customer Officer
AIA has announced two executive appointments, with Angela Busby being appointed Chief Distribution Officer and Maddie Sherlock being appointed Chief Customer Officer.
AIA has announced two executive appointments, with Angela Busby being appointed Chief Distribution Officer and Maddie Sherlock being appointed Chief Customer Officer.
Busby was previously AIA NZ’s Chief Customer Officer and Chief Strategy Officer and has held a variety of other senior roles across Sovereign, ASB Securities and Aegis. Her new role will see her responsible for business development including IFA and Group Distribution, Aligned Advice and AIA NZ’s ASB Partnership, as well as Distribution Performance and Supervision.
Angela Busby, Chief Distribution Officer
Sherlock has been with AIA since 2015 and was most recently AIA NZ’s Head of Customer Strategic Delivery. In her new role, Sherlock will oversee all the functions of Customer operations including the management of customers, underwriting, claims, rehabilitation, and customer experience.
Maddie Sherlock, Chief Customer Officer
Sharron Botica, former AIA NZ Chief Partnership Distribution Officer, has recently resigned her role at AIA to pursue new career opportunities.
More news:
Fidelity Life E-App updates how they capture Direct Debit details
FSCL has commenced its third independent review
A new life insurance company is planning to launch later this year
Findings from FSC member satisfaction survey released
Unimed Breakfast Series event on the Power of Movement 11 February
Rohaan Mohanty has joined Apex Advice as Adviser Manager - Investments
Asteron Life announce extended sponsorship of the Gut Foundation
Tony Vidler writes of the importance of influencers, advocates and fans
Legal and regulatory update for the life and health insurance sector
Westpac fined after breaching fair dealing provisions; Privacy Commissioner calls for submissions on draft Biometric Processing Privacy Code of Practice; RBNZ publish Paul Conway’s speech; Hon Andrew Bayly December 2024 diary released.
23 Dec 2024 - Westpac admitted to misleading customers entitled to advertised discounts as well as overcharging some of its business customers, in civil proceedings brought by the FMA at the High Court in Auckland. Westpac’s breaches of the fair dealing provisions under the Financial Markets Conduct Act 2013 (FMCA) affected a total of 24,621 customers and resulted in $6.35m in overcharges. https://www.fma.govt.nz/news/all-releases/media-releases/westpac-admits-to-misleading-representations/
23 Dec 2024 - The Privacy Commissioner has announced his intention to issue a Biometric Processing Privacy Code of Practice and is calling for submissions on the draft Code. https://privacy.org.nz/news/consultations/
29 Jan 2025 - RBNZ publish Chief Economist Paul Conway's speech which discussed New Zealand’s longer-term ‘potential output’ and its significance for monetary policy. https://www.rbnz.govt.nz/hub/news/2025/01/beyond-the-cycle
29 Jan 2025 - Minister of Commerce and Consumer Affairs, Hon Andrew Bayly December 2024 diary released with the following potential financial services sector related meetings noted:
5 Dec 2024 – ZOOM: REVOLUT + UK High Commision (Jeannie Lum + Officials)
6 Dec 2024 – MEET: Fintech Roundtable (invited attendees)
6 Dec 2024 – MEET: Westpac (Catherine McGrath)
6 Dec 2024 – SPEAK: Confirmation of Payee Launch (Duncan Robertson and guests)
10 Dec 2024 – MEET: Resolution Life (Tim Tez & Toda Kazuhide)
16 Dec 2024 – MEET: Commerce Commission (Hon Stephen Jones and Commerce Commission Officials)
16 Dec 2024 – MEET: FMA (Hon Stephen Jones, Craig Stobo, Samantha Barras)
18 Dec 2024 – MEET: Retirement commissioner (Jane Wrightson)