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Articles tagged with 'Russell Hutchinson'

KiwiSaver and Insurance: Assessing lifetime financial needs

9 April 2024 - As we approach a significant debate on whether insurance should be integrated into KiwiSaver, I personally feel we should shift our focus towards a more fundamental and engaging topic: the assessment of financial needs for one's entire life.

The AI revolution in financial advice: A reality check

26 March 2024 - Russell Hutchinson looks asks whether artificial intelligence (AI) is a threat or a help to financial advisers.

I would do anything for life, but I won’t do that

30 January 2024 - 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.

How to handle clients during the cost of living crisis

27 October 2023 - 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!

Which is the riskier business? Advice or Product?

18 October 2023 - Russell Hutchinson ponders what is more risky: Giving advice or making products.

Why sales is more relevant than ever in an era of increased regulation

26 September 2023 - 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.

Who understands the new map of life?

18 September 2023 - 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.

Tech stack stuff

12 September 2023 - K-mart is an incredible place to shop – or better, try Walmart in the United States.

Fish hooks in Insurance contract law review

23 May 2023 - Russell Hutchinson identifies four areas in the proposed Insurance Law Contracts bill that may cause problems.

How many advisers have left the industry?

26 April 2023 - In Australia there has been a large, ongoing, exodus from the financial services industry. So far, our regulation has brought nothing like the losses seen there. Here are some of the factors we took into account in revising our view – and why it matters.

Why is it so hard to know how many people have life insurance?

25 January 2023 - While it is not hard to come up with a number, it is very difficult to come up with a reliable number.

Insurance contract law review

18 October 2022 - If you have not yet read the draft Bill, or one of the summaries of it, we suggest you skip to the end of this article to find the useful links and work your way through at least the summary.

Building a recommendation – remember to substantiate your data assumptions

4 October 2022 - Whatever methods you use for modelling for insurance requirements, and building your recommendations, one important raw material is good data. Remember if you say that something costs about $x or if interest rates are likely to be y%, then you need to be able to substantiate the use of that assumption.

Technology planning and development map – updated for advisers

26 September 2022 - An adviser I know has recently started working with an online agency which coaches them on how to build content and engage with potential customers better on existing online platforms.

Moving to digital? Operational and customer paradigms are critical

12 September 2022 - A digital strategy is often seen translated as meaning ‘needs a CRM’ by those early in their technology journey. That is not necessarily true.

Mortgage cover in the ascendant

30 June 2022 - With income protection insurance prices under upwards pressure and questions being asked about the medium-term sustainability of the contract, it should not come as a surprise that advisers are re-evaluating their relationship with maximum-replacement options.

If you are frustrated with how long it takes to make an SOA, you are in good company

8 June 2022 - During 2021 we conducted a survey of the use of technology in the production of Statements of Advice and the content of those SOAs.

How big are financial advice businesses?

18 April 2022 - A little while ago we gave a summary of the data which shows that most advisers work for a business with lots of other advisers in it (for example, more than five thousand work in teams of 20 or more advisers).

Govt's proposed income insurance scheme may hurt insurers

22 March 2022 - Russell Hutchinson has looked the government's proposed income insurance scheme and says, right now, there are more questions than answers.

Recent M&A activity, what is driving it and what it means

11 March 2022 - FSLAA on the one hand and low interest rates on the other is driving a K-shaped market for client bases. FSLAA implementation will push down values for client bases at the bottom end of the market while leaving the market for medium and large sized client bases firmly in the grip of wider market fundamentals.

Can you do digital insurance advice with a tiny IT budget?

1 March 2022 - So, all this news about digital advice may be a bit depressing. You could talk yourself into the idea that you can’t compete – but please, don’t. 

There has been a revolution in cancer treatment, its ongoing, and its great news.

17 February 2022 - It is sometimes hard to appreciate that the battle being waged against cancer is slowly, but surely being won.

What’s all this about a public income insurance scheme?

8 February 2022 - Russell Hutchinson looks at the government's proposed income insurance scheme and what it means for advisers.

Mass media praise the value of advice

22 December 2021 - The media is usually critical of advisers, often citing high commissions as an obstacle to providing objective and good value advice. But recently, journalist...

Old school cold calls still make a difference

14 December 2021 - If it hadn’t been for a cold call, this claimant would have received a tiny fraction of their claim.

Cold call changes insured's life

13 December 2021 - It takes a strong person to talk about their health issues on a live webcast but for Neville Greedus a series of life-changing medical events helped him realise the importance of having a top-quality adviser in his corner.

Business mix is critical to good coverage

23 November 2021 - Recently I wrote about the protection gap – for advisers, the issue isn’t that consumers are generally choosing no cover, although undoubtedly a few fish slip the net.

Advisers key to closing the protection gap

11 November 2021 - The protection gap is the preferred name for the difference between what a client should have and what they actually own.

Death by a thousand regulations

28 October 2021 - In Australia, thousands of financial advisers have left the sector after new regulations have forced qualified advisers to take new exams and follow highly detailed and prescriptive requirements.

The lives we could save

20 October 2021 - All the focus on Covid-19 has overshadowed the more mundane ways that hundreds of New Zealanders die each year.

Partners Life lifts the cost of level life cover

6 October 2021 - Partners Life has announced it will be increasing its level premiums for life cover on all new business by up to 20% from November 1.

'Hole in one' cover and the design of insurance products

30 September 2021 - Apparently 'hole in one' insurance is a thing. I didn’t realise until I helped sponsor an event a little while back where the organisers were offering $1 million if you hit a hole in one.

Key consultations to protect policyholders

14 September 2021 - If you care about protecting policyholders, you should look at the current consultations being run by the Reserve Bank of New Zealand (RBNZ) and Advertising Standards Authority (ASA).

Taking care of your team in lockdown

31 August 2021 - With a team of 10, seven full-time plus three part-time, we are now spread across our homes instead of having a nice central hub in which to gather.

People are punting on insurance – we have to stop them

19 August 2021 - Insurance is meant to indemnify – which means it is meant to make good a gap, but not create an advantage to the insured if they are paid out.

Adviser opportunities have never been better

10 August 2021 - Right now there have never been fewer advisers serving so many consumers with the need for cover, or better cover, and I think the market has plenty of growth left in it.

How overpaying claims leads to product innovation

27 July 2021 - Most of the mainstream news media delight in telling people about when an insurer declines a claim. They love it. Insurers are just moustache-twirling financial villains in their eyes.

Financial stress – more common than you might think

13 July 2021 - Recently we have examined the question of vulnerable customers and the Human Rights Commission report on vulnerable people has been central to our thinking.

Death rates and the impact of the End of Life Choice Act

28 June 2021 - With the passage of the End of Life Choice Act and the referendum result a form of assisted dying is available in New Zealand.

The tale of two claims - The media's perception of insurance

15 June 2021 - Two claims stories caught my eye recently that illustrate a media view of insurance - with the honourable exception of this site and some other specialist industry media.

Adviser business values hold steady

31 May 2021 - Early concerns were that adviser business values would collapse due to the implementation of the new Financial Services Legislation Amendment Act.

Let's give TPD a second look

19 May 2021 - Something of the ugly duckling of the insurance world, once-popular Total Permanent Disability cover (TPD) is now routinely ignored by many advisers.

Sharing is caring - consumer data rights for the advice sector

30 April 2021 - The Ministry of Business Innovation and Employment is consulting on whether New Zealand should offer consumers a "data right".

Bancassurance – an opportunity for advisers?

22 April 2021 - Advisers love to hate bancassurance – the low or no advice process, the perceived pressure to use bank products alongside mortgage lending (whether that is real or not) and more limited products make it easy for advisers to find fault with bank offers.

QuoteMonster appoints new general manager

9 April 2021 - Popular insurance quoting and product comparison website QuoteMonster has appointed a new general manager who will take over from former director and general manager Alan Rafe on Monday.

Data versus human

16 February 2021 - Russell Hutchinson discusses what can be achieved by adding a little or a lot of tech to your processes.

Smug or juggling?

8 February 2021 - As March 15 approaches you could be in either camp. Russell Hutchinson with five tips to help get you over the line. 

Chatswood Consulting unveils new adviser web review service

13 January 2021 - The new service will allow advisers to analyse how their online presence is working for them, and what they can do to improve it.

A controversy or lost opportunity when we talk about sum insured

28 October 2020 - How we talk about sum insured may be underselling insurance – and it is surprisingly controversial. One training manager I know thinks Fidelity Life’s...

Which advisers will win the future?

28 October 2020 - Russell Hutchinson gives some advice on preparing for the new regulatory regime.

Licensing insurance for financial advisers

13 October 2020 - Russell Hutchinson takes a whimsical look at what this kind of cover might offer.

[GRTV] The winners and losers from Covid-19

6 October 2020 - Covid-19 has left some clear winners and losers in its wake, says Russell Hutchinson of Chatswood Consulting.

The power of social media

6 October 2020 - Russell Hutchinson shows you practical, yet simple, ways you can make social media work for you without being a tech genius.

Buying insurance can be a reassuringly normal thing to achieve

24 August 2020 - What Russell Hutchinson learnt from his nutritionist that insurance advisers could use.

It starts with governance

5 August 2020 - Russell Hutchinson discusses the importance of governance in achieving a compliant FAP business.

Should we be warning consumers about IP prices?

23 July 2020 - Russell Hutchinson suggests ways to preposition clients for IP premium increases and discusses the product's potential to keep claimants disabled longer. 

How housing affects the market for insurance

29 June 2020 - Why would the housing market be a factor in underinsurance? Russell Hutchinson explains.

Ways to sell more insurance

19 June 2020 - Russell Hutchinson offers some ideas about how to sell more insurance.

Three big things that are forcing consumers to re-think

2 June 2020 - Russell Hutchinson on the drivers that are pushing people to seek advice.  

IP underwriting is complicated – improving, but complicated

27 May 2020 - The post-Covid IP world could remain complex for some time says Russell Hutchinson.

Reconciling wants to needs

12 May 2020 - The three most common goals clients have for their potential life insurance package and your role in helping them reconcile their wants from needs.

Let’s have the grown-up in charge

8 May 2020 - Life insurance is complex, you are the "grown-up" and clients need your expertise when they invite you to give them advice, says Russell Hutchinson.

Insurers weigh up pandemic impact

30 April 2020 - A global pandemic should not prove to be a major hurdle for life insurers in this country, says the former chief executive of one of them.

Pricing strategy – choices and their meanings

28 April 2020 - Russell Hutchinson looks at insurance cover norms and offers some alternatives for consideration. 

Looking through the crisis? Or looking into it?

16 April 2020 - Data analysis is a useful skill – but showing you care and forging real emotional connections is going to be more helpful as we move through the coming months. 

Two big questions in conduct law causing advisers concern, and its unintended consequences

30 March 2020 - The Financial Markets (Conduct of Institutions) amendment Bill raises a big question about the future of commission.

Partners life changes may not be big enough

3 March 2020 - Partners Life’s changes to IP will not be the end of the matter if reinsurer expectations of the market are correct – and further changes are probably inevitable.

The struggle to be better at telling the story of insurance

10 February 2020 - I’m not really a writer, I’m a consultant that loves data and enjoys understanding the buying process so I can, hopefully, advise others on the marketing issues it exposes.

It's time we got out and told the good story about insurance

3 February 2020 - Russell Hutchinson takes umbrage with the media bashing insurance; and says it's up to advisers to get out and tell the story.

5 trends to include in your advice service planning

21 January 2020 - The beginning of a new year is a good time to review processes. Russell Hutchinson gives us five trends to focus on for 2020 and beyond.

Imagine being forced to give bad advice

28 November 2019 - It is not quite that bad, but this story – or cautionary tale – shows how a very restrictive approved product list affects advisers.

As Fred Dagg said: We don’t know how lucky we are

4 November 2019 - If you think the new Code of Conduct for financial advisers in New Zealand is bad, go and have a read of the Australian version.

What to do, what to do …

8 October 2019 - Although compliance with the Financial Advice Code should be a given there are some missing pieces from the puzzle of compliance under the new regime.

The growing but slowing market for insurance

16 September 2019 - This market is a good one, and I am a perennial optimist for both financial services in general and insurance financial advice in particular.

Working out the value of your business

26 August 2019 - [FOR ADVISERS IN HAMILTON and TAURANGA] Have you wondered what your business or your client bank are worth? Have you ever had external stakeholders, whether it’s the bank, an accountant or potential investors struggle to understand the value of your business or your renewal income?

Old school digital advice failed advisers, but there are new options emerging

26 August 2019 - So far most attempts by advisers to increase sales online have failed. It’s worth wondering why that is, and whether there is scope for change.

Chicken Little and the falling sky

12 August 2019 - It’s been said to me before, J-P how about looking at the glass being half full? Funny thing is the human brain is naturally a bit pessimistic, 60/40% if the studies I’ve read on the subject are right.

How junk is junk insurance and why should you care?

1 August 2019 - Recent articles headed “junk insurance” could be seen as the broad brush of journalism splattering tar on all insurance. Could we instead treat it as an opportunity to talk about quality? 

The pace of change, and why it’s important

15 July 2019 - What’s the most interesting thing an insurer has done in the last few months?

Insurers rethink agreements

10 July 2019 - Advisers should expect to see their agreements with most insurers rewritten over the near future, one insurance commentator has warned.

Here's how to boost your business value

10 July 2019 - A broader income mix is helping to bolster the value of advice businesses.

Can you spot the single-issue fanatics?

1 July 2019 - A couple I know, both friends that I love dearly, argue at times. One calls the other a ‘single-issue fanatic’. Both admit this could be code for ‘nagging’. Some advocates are like that about commission. 

Here's why you haven't seen many CEOs and senior execs recently

30 May 2019 - Russell Hutchinson outlines many of the issues insurance companies have their heads buried in at the moment, and why advisers haven't been seeing many of the industry leaders out and about.

Givealittle no competition for insurance

29 May 2019 - Fundraising sites are more likely to serve as a reminder of the importance of insurance than to take its place, local industry commentators say.

Odd priorities – and how some are resolved

13 May 2019 - Life is full of risks and one cannot manage them all. Most risks have financial consequences, and it is the money-part of the problem that we can best manage too, but it is worthwhile remembering that while money is the currency of our interactions with the world, it isn’t an end in itself.

The many different kinds of financial adviser

26 April 2019 - Sometimes, the principle of mediocrity seems to rule supreme, while at others, the incredible diversity of financial advice surprises.

Insurers call for replacement business rules in code

15 April 2019 - Insurance firms and other commentators asked for more rules around replacement business and the ongoing servicing of clients to be included in the industry’s new code of conduct.

The market for adviser businesses

9 April 2019 - Strong buyer interest in adviser business in general, and specifically life insurance client bases, has been a growing feature of our market segment for the last twenty years.

Insurers' requirement to assess suitability may change adviser landscape

9 April 2019 - Pressure is going on insurers to ensure that their products are suitable for clients, and it could mean changes for advisers.

How to complain

25 March 2019 - There is much to complain about, I mean it. There is bad advice, bad behaviour, bad advertising, and sometimes, outright fraud. No wonder you want to complain.

A question of culture

11 March 2019 - The problems of breaking out of a current worldview were exemplified in a series of comments on a Good Returns article recently. Two industry stalwarts had proposed a new approach to commission.

Rethinking adviser remuneration

26 February 2019 - In a tiny business, the difference between how the business earns revenue, and how the adviser gets paid isn’t really very relevant.

How you get paid

11 February 2019 - There are two sides of the coin when considering the possible effect of commission and incentives on advice when you run an advice business. This article is about how you get paid, the next will be about how you pay your advisers.

Conduct, culture, and commission

1 February 2019 - The conduct and culture report published by the FMA and RBNZ recently was meant to be all about insurers, but a significant consequence will be felt by advisers.

Pipeline of new advisers could be stopped

1 February 2019 - A crackdown on high upfront insurance commissions could cut off the number of new advisers coming into financial services, it has been warned.

Planning fallacies – the pushy little trend

15 January 2019 - Just because everyone else is doing it, doesn’t mean you have to.

How big a problem is insurance fraud?

10 December 2018 - I don’t mean accidental non-disclosure, and I don’t mean accidental declines. Mistakes happen. What I am worried about is real fraud.

Good news, four million lives saved

26 November 2018 - Good news, since 1994 the global rate of suicide has dropped 38%. That saved four million lives – more than ten times the number that died in combat since then.

Conduct, consumers, advisers, and insurers

29 October 2018 - What links these forces?

How much trauma cover?

15 October 2018 - The question of how much trauma cover is ideal remains vexed.

They think they know how

2 October 2018 - Why do some people go online and suddenly think that they are proficient in managing their own insurance?

Societal change and changing financial services

18 September 2018 - Demographic and societal change should be the easiest change to respond to

Record keeping and all that

3 September 2018 - What’s all the fuss about record keeping and all that? There’s one school of thought that runs, in effect, that it’s the advice that counts – not the file.

Insurance conduct regulation's missing piece

29 August 2018 - More oversight is needed of insurance companies’ conduct, to fill a gap in regulation of the New Zealand market, one commentator says.

Financial planning should be the natural friend of good insurance coverage

20 August 2018 - Sooner or later, reduced liabilities and increased capital must replace insurance.

Wearable devices: The promise and the reality for insurance

8 August 2018 - Wearable devices, like Fitbit watches, are becoming more and more popular, and insurers are interested in the data they collect.

Clients wait longer for income payouts

24 July 2018 - Cost pressures are prompting increasing number of clients to take longer wait periods on their income-protection cover.

Selling a bit less than ideal

23 July 2018 - In a household with two adults working and a couple of children, plus the uncomfortable presence of a large mortgage snuggling up next to them every time they hit the couch of an evening, money is tight.

Did the Australian Royal Commission change everything? Or had everything changed already?

9 July 2018 - Long-run changes have a habit of creeping up on us. Gradually, society changes, but we pin the ‘big change’ on one emblematic moment.

Going digital for adviser businesses

25 June 2018 - There might be something to this internet thing...

Questions of Conduct: when does good conduct become financial advice?

11 June 2018 - Russell Hutchinson shares how bad conduct affects customers. 

Scope versus advice

26 April 2018 - People who articulate a solution are often really articulating a problem they want to solve.

Coaching your clients on how to hire a good financial adviser

6 March 2018 - Here’s a thought for your next newsletter / blog post / or LinkedIn update: write about how to hire a financial adviser.

Advisers get automation boost

15 February 2018 - A new service will automate adviser processes to streamline the provision of insurance advice.

How to run an effective approved provider list in 5 steps

12 February 2018 - Running an approved provider list isn’t exactly a compliance requirement – yet – it is good communications practice, which arguably makes it important right now.

The 10 best ways to compete with the big end of town

23 January 2018 - It is true, the big end of town has advantages – and yet third-party advisers, typically running small businesses, have done very well over the years and have a strong offer to the market.

Financial planning and insurance advice

10 January 2018 - Nigel Tate recently commented on the foundation of the new member advisory committees for FANZ that he would like to position financial planning as a distinct...

HIV, AIDS and Insurance

5 December 2017 - The fact that times change should "give hope to the poor and pause to the rich", according to one old saying.

Priorities and ideals

21 November 2017 - One celebrated robo-advice site does nothing to help the customer decide which insurance to choose when the budget crunch has to be acknowledged.

Fear and the financial plan

9 November 2017 - Fear can be a positive motivator, and insurance advisers have known that since the days when sales training consisted of different ways to ‘back the hearse up to the living room window’ – metaphorically, of course.

Are you part of someone else’s plan?

2 October 2017 - If you don't make plans yourself you will become part of somebody else's. It's an old saying but it’s true.

Zurich, AIA make play for Sovereign

18 September 2017 - [UPDATED] AIA Group and Zurich have both made a play for Commonwealth Bank's life insurance business, including Sovereign in New Zealand.

Good Returns' columnist takes out top award

11 September 2017 - The Financial Services Council and Workplace Savings handed out awards to industry leaders and funds at its conference last week. Here are all the winners.

Under-active RFAs may drop out

29 August 2017 - A large number of advisers are not working full-time and may take the chance to drop out when new advice laws kick in.

Nagging and the definition of ‘financial advice’

28 August 2017 - Once upon a time we had this corporate guru come and talk to us about teams and communications.

Sovereign for sale but who will buy?

10 August 2017 - A sale of Sovereign could be good news for customers and advisers, one industry commentator says.

Goal-based insurance planning

9 August 2017 - It still strikes me as amazing that lots and lots of home loan insurance is sold and not very much “you get to keep your home” insurance is sold.

Many advisers 'won't pass licensing hurdle'

1 August 2017 - As many as 40% of advisers may fail to receive a licence under the new regulatory regime, it has been suggested.

Pattern Matching versus Doing Maths

10 July 2017 - I cannot tell you how many different fact-finds I have seen in the last twenty years – and how rarely are they completed in full.

Unhappy Customers

26 June 2017 - Customers can be unhappy from many causes. The worst is when the claim didn’t pay. The lurching, sinking feeling when the decision is relayed to you, or the client calls.

Buying insurance cover for adult children

6 June 2017 - Should people buy their kids first insurance package?

How do we change what ‘most people know’?

23 May 2017 - A lot of what most people know is incomplete, or rubbish.

Nimble versus Big

11 May 2017 - How tough is it competing with banks for the sale of insurance? The has been a lot of growth in the bancassurance segment over the last ten years, but lately it looks like advisers have had the best of it.

Lack of data hinders good debate on disclosure rules

19 April 2017 - Should New Zealand scrap the consumer’s duty to disclose? That statement appears shocking at first, but it has a particular meaning. It doesn’t mean that it would be OK for applicants to lie on their application forms.

They don’t start out caring, making them care is our job

13 March 2017 - To protect clients from whatever future events may happen we must start with hard questions – and a polite determination to get to proper answers.

Setting trauma sums insured

25 January 2017 - Of course some advisers don’t like trauma insurance at all, but if you do include it in packages, then having a sound approach to setting the sum insured is worth thinking about.

Things we wish we could insure against over the holidays

22 December 2016 - Wouldn’t it be nice if there were some reasonably priced financial risk transference available to you for the hazards of the holidays?

It's time to shine your light

8 December 2016 - Russell Hutchinson draws inspiration from a Canadian advice business and provides some ideas about how to become a really good and busy adviser.

Start your Insuretech project now

14 November 2016 - Fintech has been one of the hottest segments in tech for a long time – because of the money.

Things we should stop doing

3 November 2016 - The “Primary Life” Concept I opened up the quote tool and it says “Primary Life” why? My colleague said ‘you need to have one life insured to act as the policy owner’. Why? Doesn’t your system allow for two owners? Or even for a trust or company to own the policy?

Advised sales get more claims paid

13 October 2016 - If you ever read the comments on articles about insurance in mainstream media, you could be forgiven for thinking that no insurer ever paid a claim.

Are things you never use worth buying?

23 September 2016 - What if you bought a product which contained features that you never used – were they still worth something?

The cost of convenience

5 September 2016 - The trend towards selling non-underwritten cover is growing.

Will insurance become redundant as things get safer?

3 August 2016 - If you look at your LinkedIn feed or type the word ‘insurance’ into Google from time to time you will come across the most persistent memes or ideas of recent times: that insurance is about to become irrelevant.

The value of insurance

11 July 2016 - I get sick of reading articles in mainstream media about premiums being higher than claims and this being considered a bad thing.

Building a new advice process – Start With A Question

28 June 2016 - Just say for a moment that one of the outcomes of the Financial Advisers Act Review is that most RFAs will have to meet the requirements of the AFA Code of Practice.

The problem with the ideal

31 May 2016 - The problem with the ideal is that it is so unrealistic.

What do you cut when something has to give?

23 May 2016 - What’s the right process for cutting cover when the client’s budget is tight?

Seven deadly sins of the policy document

18 April 2016 - Written contracts are difficult for consumers to understand, but they are vital.

Advisers help change behaviour, not just sell a product

1 April 2016 - There are several good studies which try to determine what ‘advice’ really is – meaning, how customers perceive and value advice, rather than the legal definitions which have come to dominate discussion.

When is a heart attack not a heart attack?

8 March 2016 - A recent claims controversy in Australia underlines the need for insurance definitions to bear a resemblance to the words used by most humans in their day-to-day lives – or very clear explanations of the differences.

The advice gap

16 February 2016 - The alternative title of this piece is 'What crowdfunding and insurance calculators have taught me about what a useful amount of life insurance is'.

Finding new ideas help refresh your marketing

2 February 2016 - So you want to grow?

How Much Would You Pay to Live One Year Longer?

9 December 2015 - The concept of placing an explicit value on life is always, fundamentally, awful. Yet it must be attempted from time to time in order to make difficult choices about limited resources. 

Raft of changes for insurance companies

17 November 2015 - There has been so much product and pricing activity recently it has been hard to keep track of it all.

Understanding excesses

12 October 2015 - More people are broke – and more people are wealthy – meaning more diverse choices for excess levels and waiting periods

Today’s consumer can be hard work

31 August 2015 - With the growth of the internet and changing consumption patterns it can be hard work connecting with potential customers. Russell Hutchinson discusses some of the options available to advisers.

Suprising new marketing techniques

17 August 2015 - Two advisers I know have recently taken the churn debate right into the public domain and uses it as a positive marketing strategy: in almost exactly opposite ways.

Robo-advice – The regulator’s choice?

27 July 2015 - One commentator I read, who happens to be a big fan of robo-advice, talked excitedly about how it solves all those messy compliance problems caused by forgetful – or conflicted – humans.

Advisers doing no-commission deals

23 July 2015 - Roughly 3% of risk advisers in New Zealand are operating on a no-commission basis, it has been claimed.

Problems with professional referral and how to fix It

29 April 2015 - I spent a couple of hours recently with the managing director of a large general insurance brokerage in Australia discussing various problems with their referral programmes to advisers offering life, health and other personal insurance advice. We have both worked on quite a few referral programmes and comparing those that work, with those that don’t work, here is our list of the main problems and what to do about them.

Are we sicker or just savvier customers?

17 April 2015 - Do you think people today are sicker than they used to be just 50 years ago? If not, why are there more of them off work?

Watch out for the newly promoted income protection client

26 March 2015 - Russell Hutchinson provides an example of why the policy wording of some income protection products should be changed.

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Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
AIA - Back My Build 6.19 - - -
AIA - Go Home Loans 8.74 7.14 6.75 6.39
ANZ 8.64 7.74 7.39 7.25
ANZ Blueprint to Build 7.39 - - -
ANZ Good Energy - - - 1.00
ANZ Special - 7.14 6.79 6.65
ASB Bank 8.64 7.14 6.75 6.39
ASB Better Homes Top Up - - - 1.00
Avanti Finance 9.15 - - -
Basecorp Finance 9.60 - - -
Bluestone 9.24 - - -
Lender Flt 1yr 2yr 3yr
BNZ - Classic - 7.14 6.79 6.65
BNZ - Green Home Loan top-ups - - - 1.00
BNZ - Mortgage One 8.69 - - -
BNZ - Rapid Repay 8.69 - - -
BNZ - Std, FlyBuys 8.69 7.74 7.39 7.25
BNZ - TotalMoney 8.69 - - -
CFML Loans 9.45 - - -
China Construction Bank - 7.09 6.75 6.49
China Construction Bank Special - - - -
Co-operative Bank - First Home Special - 6.79 - -
Co-operative Bank - Owner Occ 8.40 6.99 6.79 6.65
Lender Flt 1yr 2yr 3yr
Co-operative Bank - Standard 8.40 7.49 7.29 7.15
Credit Union Auckland 7.70 - - -
First Credit Union Special - 7.45 7.35 -
First Credit Union Standard 8.50 7.99 7.85 -
Heartland Bank - Online 7.99 6.89 6.55 6.35
Heartland Bank - Reverse Mortgage - - - -
Heretaunga Building Society 8.90 7.60 7.40 -
HSBC Premier 8.59 - - -
HSBC Premier LVR > 80% - - - -
HSBC Special - - - -
ICBC 7.85 7.05 6.69 6.59
Lender Flt 1yr 2yr 3yr
Kainga Ora 8.64 7.74 7.35 6.99
Kainga Ora - First Home Buyer Special - - - -
Kiwibank 8.50 7.99 7.79 7.55
Kiwibank - Offset 8.50 - - -
Kiwibank Special - 6.99 6.79 6.65
Liberty 8.59 8.69 8.79 8.94
Nelson Building Society 9.00 7.65 7.25 -
Pepper Money Advantage 10.49 - - -
Pepper Money Easy 8.69 - - -
Pepper Money Essential 8.29 - - -
Resimac - LVR < 80% 8.84 8.09 7.59 7.29
Lender Flt 1yr 2yr 3yr
Resimac - LVR < 90% 9.84 9.09 8.59 8.29
Resimac - Specialist Clear (Alt Doc) - - 8.99 -
Resimac - Specialist Clear (Full Doc) - - 9.49 -
SBS Bank 8.74 7.74 ▼7.09 ▲6.95
SBS Bank Special - 7.14 ▼6.49 ▲6.35
SBS Construction lending for FHB - - - -
SBS FirstHome Combo 6.19 6.14 - -
SBS FirstHome Combo - - - -
SBS Unwind reverse equity 9.95 - - -
Select Home Loans 9.24 - - -
TSB Bank 9.44 7.79 7.55 7.45
Lender Flt 1yr 2yr 3yr
TSB Special 8.64 6.99 6.75 6.65
Unity 8.64 6.99 6.79 -
Unity First Home Buyer special - 6.55 6.45 -
Wairarapa Building Society 8.60 6.95 6.85 -
Westpac 8.64 7.84 7.35 6.99
Westpac Choices Everyday 8.74 - - -
Westpac Offset 8.64 - - -
Westpac Special - 7.24 6.75 6.39
Median 8.64 7.19 7.17 6.65

Last updated: 12 June 2024 4:04pm

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