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nib NZ puts commission, adviser changes on hold while it deals with IT glitches

nib New Zealand has decided to put on hold changes it had planned to its commercial model, the adviser commission rates and to the nib intermediary agreement because of glitches in its IT service delivery.

Monday, February 19th 2024, 5:00PM

by Jenny Ruth

The health and life insurance company says in a note to advisers that recently implemented and wide-ranging IT service system changes meant “our service has fallen short of yours and our expectations.”

In December, nib acknowledged that some advisers were experiencing service delays and that it was dealing with high business volumes and a transition to new systems.

“This has been frustrating for you and for your clients and we apologise for this,” nib says now.

“We are committed to rectifying this situation and have already had some success.”

A new claims system released this month is the first step towards greater automation.

“Many of your clients, our members, will start to experience the benefit of this after their next policy anniversary as they submit claims under their refreshed policy wording,” nib says.

But the company has decided it needs to get its pre-approval claims and enquiry turnaround times “back to acceptable levels” before it changes its agreements with advisers and its commission systems.

“We still intend to make the changes to our commercial model and will advise intermediary agreement holders when the changes will occur ahead of their implementation,” nib says.

Tags: nib

« Insurance advisers must know their productsnib NZ first-half net profit impacted by inflation »

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