Chief executive Wayne Besant says AIA will benefit from having a team of salaried advisers who speak the language of new migrants and recognise the power of the company’s brand overseas.
They are finished a training course and have begun selling AIA products within Auckland.
Besant said it was vital for the company to keep up with the changing demographics of the country.
The agency will begin by focusing on Asian communities but will evolve to also cater for Maori and Pasifika communities, promoting products such as tangi cover.
“AIA Agency is an exciting development within our business," Besant says. "It complements our work with the wider adviser community. We see the growth in our New Zealand Asian population as something beneficial to New Zealand, and we want to embrace and nurture that."
Besant said: “We know that financial literacy is a big obstacle for people trying to access the financial services they need. Addressing language and culture barriers is an important part of the solution. For those who also come from other parts of Asia Pacific, being able to deliver insurance services in a way that is relevant, and through people who share a cultural affinity, is a unique offering.”
The new channel complements the existing AIA Financial Services Network (AIA FSN), which continues to support primarily existing advisers seeking to specialize in the Asian market and work closely with an Asia-based insurance brand.
Besant said it was not a move that was designed to compete with AIA’s independent adviser force. Adviser sales represent 80% of the business.
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