Asteron Life announces 2024 Million Dollar Round Table programme recipients

Recognising those in the insurance industry who support customers with best practice advice is at the heart of the Million Dollar Round Table (MDRT) programme says Asteron Life.

Friday, September 27th 2024, 12:28PM

The life insurance provider has announced the recipients of the inaugural MDRT Grant Programme for New Zealand's Independent Financial Adviser (IFA) channel. The grants are designed to support advisers to develop innovative ways to support customers and accelerate their service provision.

MDRT is a global, independent association of the world's leading life insurance and financial services professionals with 95,000 members from more than 700 companies in 80 nations and territories.

It supports members with professional development, ethics and upskilling on client service, with membership recognised internationally as the standard of excellence in the life insurance and financial services business.

"Asteron Life commends its advisers who prioritise professional development. Attending the MDRT Annual Meeting is a wonderful way to provide exposure to the latest international thinking on best practice customer service and help raise the bar of professionalism in the IFA channel," says Asteron Life National Manager of Advice & Professional Standards Kevin Turnock.

"This year, attendees who travelled to the event in Vancouver were invited to apply for one of four $5,000 grants aimed at bringing their innovative ideas to fruition. We received a remarkable response, with half of the 31 attending advisers submitting grant applications outlining their plans."

"Each submission was carefully evaluated by a panel from Asteron Life and MDRT New Zealand. The ideas presented demonstrated significant potential benefits for the advisers, their businesses, and their clients."

"The proposed initiatives from the MDRT Annual Meeting encompassed a wide range of innovative strategies, including the integration of AI and cutting-edge technologies into business processes, targeted marketing and retention strategies, and initiatives aimed at enhancing work-life balance."

"Regardless of grant application outcomes, the feedback we’ve received is advisers found the application process invaluable in transforming their ideas from concept to reality," says Turnock.

The four 2024 Asteron Life MDRT Grant recipients are:

Advice Plus (Auckland) - Heath Cleland / Jamie Lester - Integrating AI into the business
ICIB Financial Independence (Tauranga) - Steve Freeman - Integrating AI into the business
SHARE NZ (Auckland) - Aaron Baker - Increasing support staff and implementing functional changes within the business
Plan B Financial Services (Christchurch) - Travis Hamilton - Deploying cutting-edge technological marketing strategies and tools

"These recipients presented initiatives that promise to transform their businesses and set new standards of best practice. The winners presented well-articulated, costed plans that included progressive milestones aiming for significant growth and positive customer outcomes, says former MDRT NZ Country Chair Rick Willis.

"Notably, each recipient demonstrated a commitment to engage additional expertise where necessary and a personal investment in delivering their plans. MDRT members have access to a global network of professionals dedicated to service excellence, professionalism and person development to draw upon and improve their operations."

Grant recipient Travis Hamilton said the application process and engagement with MDRT was invaluable in helping him take a step back to think about how to improve his business’s performance and point of differentiation in today’s new digital environment, including incorporating AI at the leading edge of service provision.

"Technology is transforming our industry. It was great to have the opportunity to think about how some of those bigger trends can be harnessed to help our business and clients," says Hamilton.

"Implementing new business processes and AI comes at a cost. The grant has jumpstarted my transformation journey and I'm looking forward to seeing service and efficiency improvements by incorporating AI into my daily workflow."

Asteron Life as a platinum sponsor of MDRT NZ is committed to supporting all submitting advisers as they work towards realising their plans.

"Congratulations to the 2024 Grant recipients. Asteron Life looks forward to supporting these innovative projects and witnessing the positive impact on the IFA community," says Turnock.

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