Sovereign survey to help grow group cover
Sovereign research aims to help advisers secure group insurance business.
Friday, June 1st 2012, 7:40AM
Sovereign is to quiz 150 of the country's human resources professionals in a bid to help advisers tap into the group insurance market.
Sovereign corporate general manager Bernie McCrea said the survey would explore current practices, perceptions and future trends in group insurance as part of employee benefits.
"We're always looking for innovative and practical ways we can support our advisers," he said.
"This survey will give our advisers valuable information they can harness in order to expand their businesses."
McCrea acknowledged that the market was small relative to the retail sector, but said under exploited space existed for advisers to move into, particularly around small and medium-sized businesses.
He said those smaller businesses had no access to New Zealand research on group insurance products and "what's good, what's bad and what's indifferent."
"We see this as a good opportunity for new business, it expands the market, expands what's available for advisers," he said.
"You have your retail business - your mum and dads, and your business insurance, and some people operate in different spectrums and this gives them another spectrum to operate in."
McCrea said Sovereign planned to conduct the survey on an annual basis and he expected the first survey to be completed in July.
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