About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds Other Sites:   depositrates.co.nz  |   landlords.co.nz
Last Article Uploaded: Friday, May 29th, 5:56PM
rss
Latest Headlines

Opinion: Insurance needs variation

The surprising thing about the divergence between Sovereign's upfront life insurance offer and Fidelity's spread offer is not that they are moving in different directions - it's that for so long some sort of unspoken consensus has existed about the life insurance industry.

Wednesday, December 2nd 2009, 5:10AM

by Russell Hutchinson

There has been relatively less innovation - companies have appeared to move closer together, not further apart, in their appeals to the adviser market.

We've sometime called this game ‘last man standing'. Everyone has the same idea about how to win - and it's been incrementalism all round - whether that's about benefits, premiums, commissions, or service. There have been no new paradigms.

Little wonder, then, that to get something interesting advisers have been looking elsewhere. Companies outside the mainstream have been where some excitement has been generated - think of Accuro's medical insurance, Dorchester Life's Stop-Gap cover, Huljich's KiwiSaver, and so on...

Of course, it's not always been good news outside the mainstream. Also, with newer companies you often get implementation and service issues, but you can see something new being tried - and some of them will emerge to wreak Schumpeterian havoc on the rest of the industry. So it's definitely worth keeping an eye on them.

Of course, it's proverbial that necessity is the mother of invention. 2010 will bring lots of necessity - a need to do something different because of adviser regulation, prudential supervision changes and tax changes for life companies.

So maybe, just maybe, we'll see some more innovation.

 

 

« Opinion: Advice counts - and you have to have a methodOpinion: They’ve been misled, so they mislead you »

Special Offers

Commenting is closed

 

print

Printable version  

print

Email to a friend
Strategy Thoughts
News Bites
Latest Comments
  • FMA starts major investigation into churn
    “Does anyone know if the Banks are included in this fishing exercise? And how will the FMA be able to differentiate between...”
    3 hours ago by I was wondering
  • Getting to know...Peter Leitch
    “And a thoroughly nice guy to boot. "Good on yer, Peter! We need more advisers of your ilk" (Wonder how many will scurry...”
    4 hours ago by Robert Oddy
  • Did issues paper miss opportunities?
    “This response is an attempt to get some debate going here. Angus is reported as making 3 major points here. I would grade...”
    4 hours ago by Murray Weatherston
  • Getting to know...Peter Leitch
    “Never met the Mad Butcher, I am sure he is a nice chap. I have met this Peter Leitch and he is definitely a nice chap; and...”
    4 hours ago by Giles Thorman
  • New Zealand advisers won't dodge bullet: Rickerby
    “The reality is and any decent broker knows it, Life Insurance is more of a commodity these days with guarantees of upgrade...”
    9 hours ago by Mark Ogden
Subscribe Now

Mortgage Rates Newsletter

Daily Weekly

Previous News
Most Commented On
About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox
 
Site by Web Developer and eyelovedesign.com