tmmonline.nz  |   landlords.co.nz        About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds

NZ's Financial Adviser News Centre

GR Logo
Last Article Uploaded: Tuesday, March 19th, 6:25PM

Insurance

rss
Latest Headlines

Warehouse looking to sell more products

Warehouse Financial Services says sales of its life and other insurance products are on budget.

Thursday, September 12th 2002, 6:09AM

Warehouse Financial Services says sales of its life and other insurance products are on budget, though it admits the targets set for the in-store kiosks were modest.

The company, a joint venture between WestpacTrust and The Warehouse, never expected to sell large amount of insurance through the kiosks, which are located in Warehouse stores, says Warehouse general manager of financial services Keith Fox.

"We never expected the take-up from the kiosks to be high. You wouldn’t expect customers to walk into a Warehouse store and think ‘I think I’ll buy some insurance today’."

The bulk of sales have come from direct marketing approaches, he says. "This allows us to personalise the offer, including premiums that reflects the customers age, etc. That makes it easier for them to sign up and take cover."

The joint venture, set up last year, offers standard insurance products such as life cover, accidental death, travel insurance and credit card repayment insurance.

There are few underwriting questions, meaning premiums aren’t as cheap as with fully underwritten policies. However, Fox believes premiums are competitive for the type of insurance product offered.

"Given that all pre-existing conditions are accepted on some of those policies, they’re a good deal for customers who might not get insurance otherwise."

The company is considering adding two new products to its range. Though Fox declines to name them, he says like the other offerings the new products will aim to leverage off the Warehouse’s distribution network using WestpacTrust products.

The bank and retailer have been working together since 1994, when WestpacTrust began operating The Warehouse credit card.

« SX calculating cost to workplacesSouthern Cross posts big loss »

Special Offers

Commenting is closed

 

print

Printable version  

print

Email to a friend
Insurance Briefs

AIA adds cover for prophylactic surgery following cancer
AIA makes changes to policies and adds preventative surgery for several types of cancer.

Chubb appoints David Morrow as Country President for New Zealand
Chubb has appointed David Morrow as Country President for New Zealand.

nib adds specialist skills to its board
Two new board appointments at health insurer nib add new perspectives, chairman says.

nib gets new CFO
Alvin Soh has joined nib New Zealand as its chief financial officer. Heh is a chartered accountant with more than 20 years of commercial experience in leadership roles.

News Bites
Latest Comments
Subscribe Now

Cover Notes - Specific news aimed at risk advisers

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