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.
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
Menopause in the news
Menopause, where oestrogen levels drop and menstruation stops, has been in the news a lot recently. While people are starting to talk about it more, there is still a lack of understanding and even misdiagnosis of symptoms.
Menopause, where oestrogen levels drop and menstruation stops, has been in the news a lot recently. While people are starting to talk about it more, there is still a lack of understanding and even misdiagnosis of symptoms. One survey found a third of respondents waited at least three years for their menopausal symptoms to be correctly diagnosed, and a further 18 per cent visited their doctor six times before they received the help they needed.
While hot flushes may be the symptom most people first think of, brain fog has been found to be more common. Other symptoms can include night sweats, mood swings, joint pain, low energy, memory problems, sleep problems, low mood, low libido, irritability, nervousness, headaches and more.
Dr Lisa Mosconi says “Menopause changes the brain’s structure, functionality, and even its connectivity in fairly unique ways.” Dr Louise Newson even suggests it should be reframed as a neurological condition instead of a gynaecological one.
So what can be done to help improve menopausal symptoms? Eat a mediterranean-style diet filled with whole foods, avoid alcohol, get regular physical exercise, challenge your brain (puzzles, learning a new language or playing a musical instrument are all good), get quality sleep, try stress management techniques such as yoga and mindfulness, discuss hormonal and non-hormonal options with your doctor.
Some workplaces have started to hold workshops to encourage dialogue about menopause, or implement menopause policies. AIA NZ has produced a Menopause toolkit, to help employees understand and support people going through menopause.
More information can be found at The Australasian Menopause Society website.
Happy New Year!
The Chatswood and QPR teams are back in the office and looking forward to everything we have planned this year.
We hope you had a lovely break, got to enjoy some sunshine and had a chance to relax. The Chatswood and QPR teams are back in the office and looking forward to everything we have planned this year.
Things you may want to check out again now you’re back:
Research: If you come across legacy products, then dive into our Standalone Head-to-Head feature, designed to make product comparisons more precise and efficient. This tool lets you compare two products side by side in detail, highlighting key differences across benefits, features, and ratings.
Insurer updates: A range of new insurer benefits and features were launched late last year – have you seen…
o Chubb Life – Continuous trauma
o Fidelity Life – Specific Injury benefit
o AIA – Accidental Injury benefit
Advicemonster: If you’re not already using Advicemonster to create better, faster, and more robust SOAs, we’ve added even more reasons to make the switch. Have you tried our new AI features?
Businessmonster: New Year, New Business!? Whether you are experienced or new to giving advice on business insurance we offer you the best online business insurance statement of advice assistance tool you can find. It includes access to the companies office API and AI services to help get you the data you need faster and even help with drafting parts of the SOA. If you have Advicemonster you can check it our for free. If not, request a trial so you can check it out by clicking here.
Security: Your FAP has requirements to meet certain standards. Want to take another look at what we do to help you? Check out our Outsource Provider Statement and information security bulletins for extra peace of mind.
If you haven’t already, check out Kiwimonster - compare over 30 KiwiSaver schemes and 300+ funds with ease at www.kiwimonster.co.nz or by clicking on the new icon at the top of the screen when you login to www.quotemonster.co.nz.
You’ve read this far. Not many people have. Email Russell to ask about a super special offer (but hurry, the rest of the staff will get in and stop him by the 16th of January – so you must email before then).
Hit us up with any questions you have. And if you have any thoughts on training you would find useful, please let us know here or here.
Government announces reforms to strengthen NZ’s capital markets
The Government has announced a package of reforms to help ensure New Zealand’s capital markets are working to support a productive economy.
The Government has announced a package of reforms to help ensure New Zealand’s capital markets are working to support a productive economy. The Government is making it easier for businesses to raise money from the public by making it voluntary to provide forward-looking financial information as part of an Initial Public Offering of shares. These changes are expected to be in place by May 2025.
The Government has also opened consultation on two proposals: enabling KiwiSaver investment in private assets; and potential adjustments to the climate-related disclosures regime. Consultation closes 14 February 2025.
The Financial Services Council (FSC) has expressed strong support for enabling KiwiSaver funds to invest in unlisted assets. FSC CEO Kirk Hope said,
“By enabling KiwiSaver investments in unlisted assets, such as infrastructure projects and innovative New Zealand businesses, we can unlock substantial capital for domestic growth.”
“This reform will not only provide Kiwi businesses with much-needed capital to innovate and expand but the opportunity of greater diversification for KiwiSaver.”
Some financial advisers warn that regulators need to get on board with the proposals, however. At a recent event we held in conjunction with the Financial Services Council, advisers asked questions about whether the Financial Markets Authority would be supportive of fund managers choosing to invest more in private assets and infrastructure projects which tend to be illiquid in nature. We think that these are good questions, and the answers will be highly sensitive to the context in each fund: for example, the scale of the investments relative to the total fund size and the liquidity of other assets, and the ages, balances, and probable withdrawal patterns of investing members.
More news:
Fidelity Life discounts on certain exclusions for Trauma covers are live
AIA release updated Working with AIA Guide
AIA webinar 'Webinar - Guide to Medical Conditions' 28 February
More locations offering AIA Vitality Fitness Assessments & Health Checks
Steve Wright dissects a recent FSCL complaint
nib promotion offers $300 woolworths vouchers to eligible applicants
Advice Link has appointed of a new general manager Sébastien Pierre
Tony Vidler writes of the importance of soft skills
Government announces hikes to ACC levies
Chapter Zero discusses experiences from year one of New Zealand's mandatory climate reporting
Significant increase in cyber incidents across New Zealand in Q3 2024
Mary-Jane Daly has been appointed as a Director at Partners Life
The Board of Partners Life has announced that Mary-Jane (MJ) Daly has been appointed as a Director, effective 2 December 2024.
The Board of Partners Life has announced that Mary-Jane (MJ) Daly has been appointed as a Director, effective 2 December 2024. Ms Daly will assume the role of Chair on 1 February 2025, after a two-month handover period from current Chair Jim Minto.
Daly is a professional Independent Director with over 10 years’ experience. She is currently Chair of both AIG Insurance New Zealand Limited and the Fonterra Shareholders' Fund as well as being an Independent Director of Kiwi Property Group Limited and Kiwibank Limited, and a member of the MBIE Risk and Advisory Committee.
Minto joined the Board in February 2017, with his tenure concluding on 31 January 2025. During his leadership he oversaw the acquisition agreement of BNZ Life Insurance in 2020. He also facilitated the transition of Partners Life to being a wholly owned subsidiary of Dai-ichi Life Group Holdings Limited in 2022 following the shareholder sale process.
More news:
O’Hagan Homes Loans & Insurances has merged with Apex Advice
AIA awarded the Accessibility Tick for the second time
BNZ announces investment in fintech company Centrapay
Westpac publish 2024 Sustainability and Climate Reports
Australian advisers told email systems are a point of vulnerability
Impact funds leap from $1 billion to $5 billion of assets under management within a year
The FMA releases Consumer Confidence survey
The Financial Markets Authority (FMA) has released their inaugural Consumer Confidence Survey. The survey combines key questions from previous years’ Investor Confidence Survey and KiwiSaver Statements Survey as well as new questions around key focus areas such as fairness, investment scams and confidence in financial markets
The Financial Markets Authority (FMA) has released their inaugural Consumer Confidence Survey. The survey combines key questions from previous years’ Investor Confidence Survey and KiwiSaver Statements Survey as well as new questions around key focus areas such as fairness, investment scams and confidence in financial markets. Key findings include:
98% of New Zealanders have at least one banking product, with 49% considering at least one banking product in the next 12 months
Savings account ownership is up across all demographics
Credit card ownership has decreased 3% while buy-now-pay-later services are up 5% across all demographics
86% of New Zealanders have at least one insurance product, with the average number of insurance products being 2.5 per person
Younger New Zealanders (18 – 34) generally had fewer insurance products compared to other age groups but were more likely to own pet and health insurance
85% of New Zealanders have at least one investment product, with the average number of different investment products owned being 1.8 per person
KiwiSaver membership is highest amongst Chinese and Pacific ethnicities at 87% and 86% respectively
79% of New Zealanders actively chose their own KiwiSaver fund, with females and those aged 45 – 54 years having lower levels of participation in their choice of fund
KiwiSaver satisfaction levels have improved over the last two years, with 60% of Kiwis being quite/very satisfied
Catalysts for kiwis to consider making changes to their KiwiSaver/other investments include better investment returns from another provider (41%) or if their fees seemed high (39%).
FMA Chief Executive Samantha Barrass said
“The results of this survey provide us with valuable insights into how New Zealanders interact with financial markets and their level of confidence in those markets and in the FMA. It also helps us to see emerging trends that require our regulatory attention, so that we can focus our efforts on how we can better regulate for all New Zealanders.”
Additional reports will be published in early 2025 on several themes that emerged in the survey findings in 2025, including the experiences of women Māori, and other minority groups with financial markets; the relationship between knowledge of financial markets and confidence; investment scams and their link to confidence and consumer behaviour; the enablers of investment practices; comparative findings on fairness.
More news:
nib release their top 5 health claims for September 2024
AIA campaign offering up to three months off premiums extended to 31 March 2025
AIAHub Resource Hub now available to delegated users
The FSC is gathering feedback on life after licensing
O’Hagan Homes Loans & Insurances has merged with Apex Advice
Fidelity Life announce incoming Board Chair
Fidelity Life has announced that Scott Pickering will take up the reins as chair of its Board of Directors, effective 1 January 2025.
Fidelity Life has announced that Scott Pickering will take up the reins as chair of its Board of Directors, effective 1 January 2025. Pickering joined the Fidelity Life board in July this year and holds other roles on boards at Evolution Healthcare, Kiwibank, Insurance Australia Group, IAG New Zealand, Engage Consulting and Bowls New Zealand as well as being an advisor to HealthNow and Bain & Co.
More news:
Momentum Life offer 20% off wills and chance to win
Paul Connolly from Kiwibank named Cybersecurity Leader of the Year
AIA NZ achieves Advanced GenderTick Status; Westpac reaccredited with the Advanced GenderTick
Winners at the Haven Awards 2024 announced
Data shows $194 million was lost to bank scams in the year ending September 30
The Retirement Commission launches National Strategy for Financial Capability 2025–2027
KiwiSaver assets grow to $117.6 billion in the third quarter of this year
Bell Gully writes of the rise of generative AI, including an overview of the relevant NZ statute
Poll finds the cost of delivering advice is the biggest challenge
Fidelity Life announce product enhancements and digital, service, and retention initiatives
At Fidelity Life’s Engage 2024 conference, Fidelity Life announced a range of product enhancements, digital, service and retention initiatives and other news.
Trauma and Life covers: The entry eligibility for the Inbuilt Child’s Trauma benefit has been reduced from two years to three months, allowing more families to receive early protection. A new, separate benefit specifically for newborns facing trauma has also been introduced. Fidelity Life will also trail a premium discount for defined exclusions on trauma covers in the coming months.
Condition Definitions: Refinements have been made for clarity, and Terminal Illness has been introduced as a defined condition across the trauma range, including Child's Trauma.
Bereavement and Child’s Funeral Benefits: The Bereavement Benefit has been increased from $15,000 to $25,000, and the Child’s Funeral Benefit has been increased from $3,500 to $15,000 for children aged 10 to 20.
Grief Counselling Benefit: A new benefit offering an additional $2,500 to the sum insured.
Financial Planning Benefit: Easier access by removing thresholds and extending the claim period.
New Specific Injury Cover: A low-cost solution that pays a lump sum for any of 30 defined injuries.
Live Chat: Quick and easy access to New Business and Underwriting teams via Adviser Centre.
New-Look E-App: A modern and intuitive user experience launching in March 2025. The E-App’s latest upgrade goes live later this month, with the new ‘share’ feature enabling advisers to send a link to their customers, allowing customers to complete all or part of the application on their own.
Dedicated Adviser Service Team: A team committed to servicing all adviser needs.
Enhanced Retention Tools: Including renewal reminders and automated SMS reminders for customers. There will be additional roles created too.
Expanding adviser support roles: Fidelity Life are creating new roles, including a National Partnership Manager for mid-sized and corporate firms, as well as an Auckland Business Manager and a Desk-Based Business Manager, to provide more tailored support and drive closer engagement.
Adviser Edge Programme: New additions to the programme include an invitation-only overseas study tour and new practice manager masterclasses for admin staff.
Grow Together programme: Coming in early 2025, the invitation-only Grow Together programme will provide dedicated, prioritised support across key areas including new business, underwriting, and retention. Advisers in the programme can expect to benefit from dedicated support resources, exclusive benefits, and access to a wide range of support tools and professional development opportunities.
Adviser Council: Fidelity Life are inviting advisers to express their interest in joining their Adviser council, which meets quarterly with Fidelity Life’s leadership team to discuss industry updates, share market trends, and provides objective feedback on their initiatives.
Adviser relationship survey: To better understand market perceptions and Fidelity Life are launching a bi-annual Adviser relationship survey to provide key insights into advisers' experiences and expectations and where Fidelity Life need to improve.
Group Solutions enhancements: From early 2025, Fidelity Life will be launching a quarterly industry insight, Group IQ; holding an annual onsite Group HQ conference for the top 30 group advisers; and launching a new group solution designed for small businesses, providing enhanced tools and technology for a smoother experience and better outcomes.
Bronwyn Kirwan, Fidelity Life's Chief Commercial Officer, said
"We are thrilled to introduce these new product enhancements and initiatives. They are a testament to our ongoing commitment to providing our advisers and customers with the best possible support and value.
These enhancements deliver more value, greater accessibility, and increased choice."
More info:
Chubb Life change underwriting process for Mortgage Repayment Cover
Partners Life are holding Summer Roadshows in November & December
AIA has launched new Specified Accidental Injury Cover product
AIA survey advisers around the need for terminal illness cover
AIA Vitality members can get up to 40% off Garmin and New Balance
The FSC has recorded a small deficit of almost $46,000 before tax over the 12 months to June 30
ICNZ has welcomed the passage of the Contracts of Insurance Bill
Financial Advice NZ's national adviser conference is on 1 - 3 April 2025
mySolutions webinar 'Why Chubb?' 27 November
Lyka Burr & Vincent Zhang join TAP's compliance and governance team
Unimed offer psychologist led introductory sleep workshops
Ashleigh Buchanan from Southern Cross Health Insurance named Emerging Leader of the Year
Chubb launches underwriting chat service
Chubb has launched a new chat function on their adviser hub site that allows advisers to ask the underwriting team questions.
Chubb has launched a new chat function on their adviser hub site that allows advisers to ask the underwriting team questions. Once the conversation is completed a chat transcript is able to be downloaded, for advisers to submit with the application or save to their customer files. You can find out more on their quick guide and their explainer video.
More news:
AIA NZ appoints Aaron Gilmore to the role of Regional Sales Manager – Northern
Asteron Life release their climate-related disclosures
AIA have updated their Change of Ownership forms
Hamish Patel has been elected to the board of Financial Advice NZ
FinTech NZ Hui Taumata is on 11 March 2025 in Auckland
mySolutions webinar 'Managing compliance using Sharepoint' 6 November
More than 7,500 people made early KiwiSaver withdrawals during September
nib launches nib meno care
nib NZ has launched a new health management initiative, nib meno care, aimed at supporting women through the stages of perimenopause and menopause.
nib NZ has launched a new health management initiative, nib meno care, aimed at supporting women through the stages of perimenopause and menopause. The programme has been developed in collaboration with Dr Linda Dear, a specialist in menopause care.
nib members will be able to access expert advice on managing menopause symptoms – covering topics from lifestyle adjustments, to natural remedies and available medical treatments.
A 2023 survey Dear conducted found 64% of NZ women were unaware their symptoms, such as sleep disturbances and weight gain, were linked to menopause.
nib’s chief medical officer, Dr Rob McGrath, said
“Menopause is a personal journey, and no two women experience it the same way. That’s why we wanted to develop a tool to help women manage their symptoms on their own terms by making expert support easy to access and apply.”
More news:
ANZIIF welcomes Scott Hawkins as board member
The Adviser Platform rebrand and launch new website
NZFSG webinar 'Under the hoodie: Revealing the hackers' secrets' 22 October
FSC end of year celebrations dates announced: Auckland 26 Nov, Wellington 27 Nov
ACC’s latest annual report details an increase in claims and financial challenges