About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds Other Sites:   depositrates.co.nz  |   landlords.co.nz
Last Article Uploaded: Tuesday, May 30th, 8:43PM
Check out GoodReturns TV now! Dismiss
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



Printable version  


Email to a friend
Strategy Thoughts
News Bites
Latest Comments
  • Massey resumes work on advice degree
    “Groan – it must be that time of the year again when I find myself compelled to respond to Brent’s myopic perspective...”
    6 hours ago by Pragmatic
  • InvestNow mix-up disappointing: Stubbs
    “"Invest Now listed our products without our knowledge"... What / who else have InvestNow done without prior consent or...”
    6 hours ago by Pragmatic
  • Massey resumes work on advice degree
    “Have to agree with Brent. It would be very damaging for Massey to have content influenced by the biases of the industry....”
    8 hours ago by R1
  • Massey resumes work on advice degree
    “I would venture to suggest that it always starts with the fundamentals, not portfolio or strategies of pension funds. These...”
    11 hours ago by smitty
  • Massey resumes work on advice degree
    “The worry here is that “the contents and structure meets the market’s requirements”. As we see all the time with CPD...”
    13 hours ago by Brent Sheather
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