I would do anything for life, but I won’t do that
The Financial Advice Association of Australia (FAAA) addressed a letter to the Australian Prudential Regulation Authority (APRA) concerning the Life Insurance Data Transformation consultation. What does this have to do with the New Zealand market? A lot, in fact. Australian regulation has been an exemplar, perhaps, of what not to do.
The FAAA, representing financial advisers, emphasised the vital role of advisers in the life insurance sector, where over 50% of in-force life insurance premiums are placed.
They stressed the complexity of life insurance and the essential role of financial advice in aiding Australians to make informed decisions, noting the prevalent issue of underinsurance in the absence of professional...MORE»
How to handle clients during the cost of living crisisFriday, October 27th, 6:59AM
My favourite current quote is about averages. Something I picked up at MDRT recently: in one hand you hold a burning hot coal, straight out of the fireplace. In the other hand you hold a freezing block of ice, from a commercial deep freeze – very cold. On average you are fine! MORE» |
Which is the riskier business? Advice or Product?Wednesday, October 18th, 1:51PM
Russell Hutchinson ponders what is more risky: Giving advice or making products. MORE» |
Why sales is more relevant than ever in an era of increased regulation
This question started when I heard Tony Gribble talk about the value of the Million Dollar Round Table, or MDRT, at an adviser meeting recently.
MORE»Who understands the new map of life?
The whole idea that there is a ‘map’ to life seems more appropriate for a spiritual discussion rather than a column on financial advice, but… we’re planning for the future and the concept seems seductive.
MORE»Tech stack stuff
K-mart is an incredible place to shop – or better, try Walmart in the United States.
MORE»Conduct and the design of policy documents and product brochures
Many insurers are updating their policy documents and product brochures in an effort to meet a number of conflicting objectives, which could be summarised as: simplicity, accuracy and ease of operation.
MORE»Fish hooks in Insurance contract law review
Russell Hutchinson identifies four areas in the proposed Insurance Law Contracts bill that may cause problems.
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