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Cover Notes

Cover Notes: In this issue we have news that senior Million Dollar Round Table (MDRT) executives will be in New Zealand next month, AIG is setting up training courses to help mortgage brokers sell life insurance and changes at Lumley.

Wednesday, March 12th 2008, 6:20PM
MDRT First vice president Walton Rogers will visit Australia and New Zealand in April and will be the keynote speaker on its roadshow.

The roadshow will start in Brisbane on April 16 and conclude in Wellington on April 24.

During his visit Rogers will meet with life office executives, dealer group principals, industry association representatives and MDRT members.

Rogers is a 33-year MDRT member, acknowledged for his commitment to raising the standards of industry professionalism and for supporting the disadvantaged through his MDRT Foundation activities.

AIG to work with mortgage brokers

For mortgage brokers who feel their income has hit a wall, expanding into life insurance sales could be a positive move, AIG says.

It is working with the NZ Mortgage Brokers Association to build bridges that will help mortgage brokers cross over into the world of selling insurance.

An online training module called Playing the Insurance Game is already up and running, and a series of seminars will be launched in March.

Jane Hall, National and Key Accounts development manager for AIG Life, says that the training module has been designed to give mortgage brokers a taste of what it's like to sell life insurance.

Lumley changes business model
Lumley General Insurance is creating a new insurance company model that is setting out to do business in a new way.

It involves developing a customer-centric focus within Lumley and grouping business operations around its distribution channels. Two new operating divisions have been created, Lumley Broker and Lumley Business Solutions. Lumley Broker is headed by Gary Thomas, and Lumley Business Solutions by Greg Main.

A new Risk Services Unit has also been created, responsible for portfolio analysis, predictive modelling, actuarial services and reinsurance.

Lumley Business Solutions focuses on providing personal lines, and consumer and life products through its current partners including banks, financiers and other associations. It will also be responsible for servicing personal lines business handled through brokers.

Within its broker division, Lumley will consolidate its key broker customers in two groups reflecting their particular service needs and requirements - national broker organisations and independent brokers. The focus will be to assist key customers through better understanding their needs and helping them to build on their points of difference.

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