About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds Other Sites:   depositrates.co.nz  |   landlords.co.nz
Last Article Uploaded: Monday, August 31st, 11:21AM
rss
Latest Headlines

Hot air bubbles

Thursday, June 23rd 2011, 1:24PM 5 Comments

by Darrin Franks

New Zealand would have an untapped source of energy if we had the ability to harness the hot air that’s permeating the insurance industry. That’s if the comments arising from the article “Changing channels” (Good Returns June 3) are anything to go by. It couldn’t be labelled “clean energy” though, because the public scrapping generating it is masking a dirty little war for territory that has engaged the industry for far too long. Nor could it be called sustainable, because the spectators, aka consumers, are going to wonder if their needs are really being managed or if it is more about their adviser’s needs and wants. The sector’s unabated introspection is getting in the way of delivering better service to consumers.  It’s time for the sector to reconsider its reason for being. It needs to be collaborative in terms of its value proposition for people. Don’t count on regulation to be the panacea of the sector’s woes, or the public’s desire for improved confidence. Competitors first should take a customer focused attitude and then their differentiated offerings to the marketplace. Attitude is everything. It’s time the hot air bubbles burst.
« Why so much time on Hubbard?Your advice (on FMA ads) please »

Special Offers

Comments from our readers

On 24 June 2011 at 3:50 pm 6ftndr said:
I actually think open air discussion is good for the market, better that than having it all under the carpet festering away.

What does it matter if there are 5 or 35 "dealer" groups out there, nothing will change from a customer perspective, these groups are only an adviser thingy, nothing to do with the client - aren't they?

I would hazard a guess the only people unhappy in this dealer war, would be the product providers - insurance companies et al - for it is they that have to bend over backwards to get the dealer groups on their side and marketing their product.

The end result for the client is exactly the same.....
On 26 June 2011 at 6:07 pm shadow said:
Dealer groups have to bring something to the table from a customer perspective. Very few do. Most are nothing more than aggregators - manufacturers need to be brave enough to break the model by changing the compensation model for these outfits.
On 26 June 2011 at 6:09 pm shadow said:
Most dealer groups are merely aggregators who do nothing for customers. Some dealer groups are far more sophisticated and have genuine business model based on customer. They are the ones that will survive . . . manufactures need to change their rem model to force the clean-up.
On 27 June 2011 at 2:55 pm Anon2 said:
6ftndr - why would you think dealer groups have nothing to do with clients - they adversely affect client premiums - if not in the shortterm then definitely in the long term. The obvious reason for this being providers having to pay more for advisers than would normally be expected.
On 30 June 2011 at 4:07 pm Louise said:
Dealer groups definitely have an impact on clients, as dealer groups won't promote the products of companies who do not support them - meaning that they may end up not acting in the best interests of their clients if the best product for that client is from an unsupportive provider.
Commenting is closed

 

print

Printable version  

print

Email to a friend
News Bites
Latest Comments
  • nib plots more growth
    “Hi Rob, Hope changes mean clients stuck in old closed groups or products where the loss ratio only goes one way because you...”
    6 hours ago by T
  • Former Mike Pero broker banned
    “I was always told that RoT's weren't worth the paper they're written on. Sounds like the Pero contracts are very tough,...”
    6 hours ago by Dirty Harry
  • nib plots more growth
    “Thanks for the feedback" I was wondering". Its true that we have a strong pipeline of applications. Many applications go...”
    23 hours ago by Rob Hennin@nib
  • Former Mike Pero broker banned
    “Unfortunately Heath did willingly sign a franchise agreement with Mike Pero. He was aware of the terms and conditions when...”
    3 days ago by I was wondering
  • nib plots more growth
    “This is great news, however from my own personal experience nib can't handle the business flows it has at the moment. Their...”
    3 days ago by I was wondering
Subscribe Now

Mortgage Rates Newsletter

Daily Weekly

Previous News

MORE NEWS»

Most Commented On
Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
ANZ 6.24 5.10 5.25 5.59
ANZ Special - 4.69 4.89 -
ASB Bank 6.50 5.05 5.25 5.35
ASB Bank Special - 4.69 4.89 4.99
BankDirect 6.50 5.05 5.25 5.35
BankDirect Special - 4.69 4.89 4.99
BNZ - Mortgage One 6.65 - - -
BNZ - Rapid Repay 6.24 - - -
BNZ - Special - 4.69 4.69 -
BNZ - Std, FlyBuys 6.24 5.09 5.09 5.19
BNZ - TotalMoney 5.99 - - -
Lender Flt 1yr 2yr 3yr
Credit Union Auckland 6.70 - - -
Credit Union Baywide 6.45 5.75 5.75 -
Credit Union North 6.45 - - -
Credit Union South 6.45 - - -
Finance Direct 6.10 6.45 6.69 7.10
First Credit Union 5.85 - - -
HBS Bank 6.14 5.39 5.39 5.39
HBS Special - 4.69 4.69 4.99
Heartland 6.70 7.00 7.25 7.85
Heretaunga Building Society 6.45 5.10 5.40 -
Housing NZ Corp 6.49 5.19 5.49 5.59
Lender Flt 1yr 2yr 3yr
HSBC Premier 6.60 4.89 4.89 4.99
HSBC Premier LVR > 80% - - - -
HSBC Special - 4.49 4.49 4.49
ICBC 6.75 5.99 6.39 -
Kiwibank 6.15 4.79 5.49 5.69
Kiwibank - Capped - - - -
Kiwibank - Offset 6.40 - - -
Kiwibank Special - 5.09 4.65 4.99
Liberty - - - -
Napier Building Society 6.50 5.80 6.70 -
Nelson Building Society 6.70 5.65 5.95 -
Lender Flt 1yr 2yr 3yr
NZ Home Loans 6.60 5.39 5.49 6.29
Perpetual Trust 7.70 - - -
Resimac 5.59 5.37 5.40 5.52
SBS Bank 6.14 5.39 5.39 5.39
SBS Bank Special - 4.69 4.69 4.99
Sovereign 6.35 5.05 5.25 5.35
Sovereign Special - 4.69 4.89 4.99
The Co-operative Bank 6.20 4.69 4.79 4.99
TSB Bank 6.24 5.10 5.39 5.45
TSB Special - 4.69 4.69 4.99
Wairarapa Building Society 6.20 5.75 5.95 -
Lender Flt 1yr 2yr 3yr
Westpac 6.15 4.99 5.19 5.19
Westpac - Capped rates - 6.15 6.15 -
Westpac - Offset 6.15 - - -
Westpac Special - - 4.69 -
Median 6.40 5.09 5.25 5.35

Last updated: 18 August 2015 3:39pm

News Quiz

The maximum remuneration model for Australian life insurance advisers is to be set at what?

Upfront 40% + trail 20%

Upfront 50% + trail 10%

Upfront 50% + trail 20%

Upfront 60% + trail 10%

Upfront 60% + trail 20%

MORE QUIZZES »

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