About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds Other Sites:   tmmonline.nz  |   landlords.co.nz
Last Article Uploaded: Saturday, January 18th, 9:24PM
Latest Headlines

Group market owes it to KiwiSaver

For all the exasperation the industry felt at insurance being left out of the KiwiSaver party, it turns out that it has had a boost from the scheme.

Wednesday, September 10th 2008, 6:28AM

by Russell Hutchinson

Proof? Go back two years and some consultants were finding it hard to make a competitive fight out of a group scheme review – and more to the point, when that happens, it’s hard to justify your fee.

There were pretty much just Sovereign and Tower in the market – with the odd quote on just life cover coming in from AXA or Fidelity.

So often there were just two quotes.

Today the situation has changed, with AIG back in the market, Asteron, and sometimes ING quoting.

So you could get up to seven quotes now.

Much, much more fun.

The market may have doubled in size – in under two years – and this is at a time when everyone capable of institutional sales has been busy talking to employers about KiwiSaver.

The corporate sales sector suddenly looks like it has got potential. That’s not to say that every Tom, Dick, or Janey should be hunting corporate business.

Companies want more than a good idea and the old “what’s your middle name?” patter as you whip out the application form. They want an understanding of the tax implications, clarity around the process of application, a professional review process.

Mostly they know they can get these things from larger international brokerages.

But with the market opening up so quickly, there are bound to be opportunities.

« Tower enhances Key Person coverBusiness as usual in NZ: Pierce »

Special Offers

Commenting is closed



Printable version  


Email to a friend
Insurance Briefs

Southern Cross launches advisory group
Southern Cross Health Society has announced the establishment of a Māori governance advisory group in a first for New Zealand’s health insurance sector.

HealthLink and Konnect NET to merge
Healthcare technology companies HealthLink and Konnect NET are merging.

Fidelity scores top award for third consecutive year
Fidelity Life has been named 2019 Life Insurance Company of the Year by ANZIIF for the third consecutive year.

Suncorp invests in wellbeing
Suncorp New Zealand has now invested a total of $20 million into wellbeing bonds as part of its focus on identifying sustainable investment opportunities that can deliver positive community outcomes.

News Bites
Latest Comments
  • Partners Life criticises Vitality
    “bay broker good points but I get the point about premiums increasing when sick. I have Vitality personally and I have qualified...”
    2 days ago by taka dan
  • Don't hold your breath for life insurance reform
    “That's a good observation from @JPHale there. "2% of sales" has even less meaning when you don't know if it's 2% of premiums...”
    2 days ago by Denis
  • Partners Life criticises Vitality
    “I've added Vitaltiy to a number of clients' new covers. I have also sold AIA cover without it. As with all advice it is...”
    2 days ago by BayBroker
  • Don't hold your breath for life insurance reform
    “Having read both the article and the comments I can only agree with what has been said in the comments. Further, I am...”
    2 days ago by BayBroker
  • David Whyte's 5 predictions for 2020
    “@ number 2: LOL - don't hold your breath. And besides, even if they did do it, if someone needs it they should probably already...”
    3 days ago by All hat no cattle
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
Site by Web Developer and eyelovedesign.com