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Advisers represent less than half of insurance market

Relatively few life insurance products are sold via advisers earning high upfront commissions, new research suggests.

Monday, August 3rd, 6:00AM

Industry commentator Russell Hutchinson, of Quotemonster and Chatswood Consulting, has released statistics indicating that financial advisers likely account for between 40% and 45% of new life insurance sales.

He said that number was arrived at by first deducting from total industry sales all the business from companies that did not deal with advisers, such as BNZ and Cigna.

Then bank business was removed, a calculation made more accurate by recently-published ANZ data that showed far less of its business was being done by advisers than had previously been estimated...MORE»

Cheap policies capture younger clients: HFANZ

Tuesday, July 28th, 6:00AM

More young New Zealanders are taking out health insurance policies, new Health Funds Association figures show.


Robo-advice – The regulator’s choice?

Monday, July 27th, 11:59AM

One commentator I read, who happens to be a big fan of robo-advice, talked excitedly about how it solves all those messy compliance problems caused by forgetful – or conflicted – humans.



Previous News

FSC launches commission investigation

Friday, July 24th, 6:00AM

A “mini-Trowbridge Report” has been commissioned by the Financial Services Council, to investigate sales incentives in New Zealand’s personal insurance industry.


Advisers doing no-commission deals

Thursday, July 23rd, 6:00AM

Roughly 3% of risk advisers in New Zealand are operating on a no-commission basis, it has been claimed.


[Opinion] Risk commission future not all gloom and doom

Monday, July 20th, 6:37AM

Veteran insurance adviser David Pine says the sky won't fall in if life insurance companies are forced to cut commissions like their counterparts in Australia. 


Churn debate: Reduce conflicts

Friday, July 17th, 11:03AM

One insurance company that is part of the FMA’s investigation into churn will tell a very different story all its competitors.


Trail commission rules blamed for churn

Wednesday, July 15th, 6:00AM

Churn rates could be reduced if trail commissions followed a client when they switched risk adviser, it has been suggested.



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