Three years into his insurance tenure, chief executive of AIA New Zealand, Wayne Besant, talks candidly about the cycle of under-insurance that plagues the industry and how to break it.
Step inside the boardroom at AIA and you will find it at the top of the Exco agenda. Pop into the Operations hub and you will see evidence of it in the business decisions being made. Take a seat in the staffroom and you will hear it in passing conversations. A belief that the cycle of under-insurance can be broken appears to have taken hold.
By all accounts, this is a far cry from the AIA of old and fighting talk from a key player in the New Zealand life insurance industry...MORE»
Monday, February 25th, 11:49AM
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Tuesday, January 8th, 11:22AM
Generating income without compromising riskMORE»
Generating Income In a Low Interest Rate WorldMORE»
It's an information-rich world, permitting all manner of opinion, and what is true depends on one's point of view. Darrin Franks, AIA New Zealand's Head of Distribution and Marketing, explores the customers' view of the insurance industry.MORE»
Finally, a better answer for life and health sales
With a Phase 1 version in use by 400 advisors, Konnect's SureApp service is already taking hassle out of life and health insurance applications - and is on track to cut average application turnaround from 35 to 14 days.MORE»
The traditional, profit-at-any-cost model has generated great wealth for many companies and people, but that model is failing. According to the best business minds and a preponderance of evidence, the best companies are those invested in the wellbeing of society, AIA New Zealand's Head of Distribution and Marketing Darrin Franks reports.MORE»
The commission model has come in for sharp criticism over the years, particularly for its role in customer churn. AIA New Zealand's Head of Distribution and Marketing Darrin Franks considers its virtues and flaws, and argues for a more relevant remuneration structure - in the interests of sustainability and improved customer engagement.MORE»