Chatswood serves the life and health insurance sector in New Zealand with market intelligence, data, and bespoke consulting services. Some of these are provided in conjunction with Quality Product Research Limited - a subsidiary that brings you Quotemonster.

We believe that good decisions are more likely to occur when we have good information about the market environment in which we operate. Intuitive leaps and creative decisions are always required, of course, but the more they are based on a firm foundation of observation, the better they tend to be.

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Fidelity Life announce product enhancements and digital, service, and retention initiatives

At Fidelity Life’s Engage 2024 conference, Fidelity Life announced a range of product enhancements, digital, service and retention initiatives and other news.

At Fidelity Life’s Engage 2024 conference, Fidelity Life announced a range of product enhancements, digital, service and retention initiatives and other news.

  • Trauma and Life covers: The entry eligibility for the Inbuilt Child’s Trauma benefit has been reduced from two years to three months, allowing more families to receive early protection. A new, separate benefit specifically for newborns facing trauma has also been introduced. Fidelity Life will also trail a premium discount for defined exclusions on trauma covers in the coming months.

  • Condition Definitions: Refinements have been made for clarity, and Terminal Illness has been introduced as a defined condition across the trauma range, including Child's Trauma.

  • Bereavement and Child’s Funeral Benefits: The Bereavement Benefit has been increased from $15,000 to $25,000, and the Child’s Funeral Benefit has been increased from $3,500 to $15,000 for children aged 10 to 20.

  • Grief Counselling Benefit: A new benefit offering an additional $2,500 to the sum insured.

  • Financial Planning Benefit: Easier access by removing thresholds and extending the claim period.

  • New Specific Injury Cover: A low-cost solution that pays a lump sum for any of 30 defined injuries.

  • Live Chat: Quick and easy access to New Business and Underwriting teams via Adviser Centre.

  • New-Look E-App: A modern and intuitive user experience launching in March 2025. The E-App’s latest upgrade goes live later this month, with the new ‘share’ feature enabling advisers to send a link to their customers, allowing customers to complete all or part of the application on their own.

  • Dedicated Adviser Service Team: A team committed to servicing all adviser needs.

  • Enhanced Retention Tools: Including renewal reminders and automated SMS reminders for customers. There will be additional roles created too.

  • Expanding adviser support roles: Fidelity Life are creating new roles, including a National Partnership Manager for mid-sized and corporate firms, as well as an Auckland Business Manager and a Desk-Based Business Manager, to provide more tailored support and drive closer engagement.

  • Adviser Edge Programme: New additions to the programme include an invitation-only overseas study tour and new practice manager masterclasses for admin staff.

  • Grow Together programme: Coming in early 2025, the invitation-only Grow Together programme will provide dedicated, prioritised support across key areas including new business, underwriting, and retention. Advisers in the programme can expect to benefit from dedicated support resources, exclusive benefits, and access to a wide range of support tools and professional development opportunities.

  • Adviser Council: Fidelity Life are inviting advisers to express their interest in joining their Adviser council, which meets quarterly with Fidelity Life’s leadership team to discuss industry updates, share market trends, and provides objective feedback on their initiatives.

  • Adviser relationship survey: To better understand market perceptions and Fidelity Life are launching a bi-annual Adviser relationship survey to provide key insights into advisers' experiences and expectations and where Fidelity Life need to improve.

  • Group Solutions enhancements: From early 2025, Fidelity Life will be launching a quarterly industry insight, Group IQ; holding an annual onsite Group HQ conference for the top 30 group advisers; and launching a new group solution designed for small businesses, providing enhanced tools and technology for a smoother experience and better outcomes.

Bronwyn Kirwan, Fidelity Life's Chief Commercial Officer, said

"We are thrilled to introduce these new product enhancements and initiatives. They are a testament to our ongoing commitment to providing our advisers and customers with the best possible support and value.

These enhancements deliver more value, greater accessibility, and increased choice."

 

More info:

Chubb Life change underwriting process for Mortgage Repayment Cover

Partners Life are holding Summer Roadshows in November & December

AIA has launched new Specified Accidental Injury Cover product

AIA survey advisers around the need for terminal illness cover

AIA Vitality members can get up to 40% off Garmin and New Balance

The FSC has recorded a small deficit of almost $46,000 before tax over the 12 months to June 30

ICNZ has welcomed the passage of the Contracts of Insurance Bill

Financial Advice NZ's national adviser conference is on 1 - 3 April 2025

mySolutions webinar 'Why Chubb?' 27 November

Lyka Burr & Vincent Zhang join TAP's compliance and governance team

Unimed offer psychologist led introductory sleep workshops

Ashleigh Buchanan from Southern Cross Health Insurance named Emerging Leader of the Year

Susan Taylor says a fresh solution to liability gaps needed

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Chubb launches underwriting chat service

Chubb has launched a new chat function on their adviser hub site that allows advisers to ask the underwriting team questions.

Chubb has launched a new chat function on their adviser hub site that allows advisers to ask the underwriting team questions. Once the conversation is completed a chat transcript is able to be downloaded, for advisers to submit with the application or save to their customer files. You can find out more on their quick guide and their explainer video.

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Deepfake scams on the rise

Research commissioned by MasterCard has found that 29% of New Zealanders and 18% of NZ businesses have been targeted by deepfake scams in the past year.

Research commissioned by MasterCard has found that 29% of New Zealanders and 18% of NZ businesses have been targeted by deepfake scams in the past year. Deepfake scams use generative artificial intelligence (AI) to impersonate individuals, with the aim of stealing their targets’ money or personal information.

Deepfakes scams can utilise video, images and audio and can look increasingly convincing. Confidence levels in the ability to correctly identify deepfakes are low, with only 12% of respondents confident they would be able to detect a deepfake scam. Deepfakes are eroding trust in public figures and digital platforms, with 41% of individuals being more sceptical towards celebrities and influencers; 61% of kiwis being less trusting of social media platforms; 40% of New Zealanders being less trusting of emails and 37% of respondents being less trusting of phone calls compared to the previous year.

Some steps businesses are taking to address these risks include employing identification verification for accessing sensitive information, offering cybersecurity training and conducting training on financial transactions.

 

More news:

mySolutions webinar 'How non-PHARMAC drugs are covered in our Private Medical offering' 23 October

Chubb’s Underwriting Click to Chat function is live on Adviser Hub

AIA health premiums increasing from 1 November

AIA release latest version of Underwriting Guide

Link Financial Group appoints Luke Roberts and Quentin Holmes as national growth managers

Tony Vidler talks about the importance of focusing on existing client base

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FSC sees opportunities for increased contributions to KiwiSaver

KiwiSaver has been in the news recently with the FMA releasing their KiwiSaver Annual Report 2024. The FSC have welcomed the insights from the FMA report and said they see opportunities for increased contributions.

KiwiSaver has been in the news recently with funds under management surpassing the $100b mark and the Financial Markets Authority (FMA) releasing their KiwiSaver Annual Report 2024. The Financial Services Council (FSC) have welcomed the insights from the FMA report and said they see opportunities for increased contributions. Kirk Hope, CEO of the FSC said,

“With KiwiSaver funds under management surpassing the $100bn mark, this is a great opportunity to look at KiwiSaver contribution settings and how we can make it affordable over time so that New Zealanders can have dignity in retirement.”

“Increasing contribution levels, in combination with financial literacy that helps New Zealanders understand the benefits and mechanisms of KiwiSaver, are key to driving better retirement outcomes,”

 

More news:

nib join the Sustainable Business Council NZ

Asteron Life, Chubb Life & Fidelity Life are finalists at the New Zealand Insurance Industry Awards

Fidelity Life employees have unlimited access to LinkedIn’s library of courses

IFSO take their first enforcement proceeding against a Participant

Jon-Paul Hale recommends advisers are clear in explaining unfunded medicines

Workplace Savings End of Year Function 2024 on 4 November

Fidelity Life offer advisers opportunity to go on professional development course

FinTech NZ Annual Meeting on 6 November

Retirement Commissioner says there’s a “crucial need” for all political parties to support a stable retirement policy

Mental Health Minister announces Child and Youth Mental Health and Addiction Prevalence Survey

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The FSC release their latest Money & You Report

The FSC have released their latest Money & You Report, ‘Consumer Resilience and the Road to Prosperity’. It paints a picture of New Zealander’s who have struggled with the cost-of-living crisis and are feeling financially pressured to the extent they have changed their spending habits, decreased their savings and have concerns about their ongoing ability to service debt.  

The FSC have released their latest Money & You Report, ‘Consumer Resilience and the Road to Prosperity’. In all it paints a picture of New Zealander’s who have struggled with the cost-of-living crisis and are feeling financially pressured to the extent they have changed their spending habits, decreased their savings and have concerns about their ongoing ability to service debt.  

Some key findings include:

  • 49% are somewhat or very unconfident in the overall economy (up from 45% in 2023), with women older generations and Europeans more likely to be unconfident in the economy. Those who are receiving financial advice are more positive about the impact of the economic climate.

  • 94% of respondents are concerned about financial issues, with the cost of living cited as respondents’ top financial concern (66% very concerned), followed by inflation (51% very concerned) and house prices (45% very concerned).

  • Financial pressures have resulted in a change in spending habits, with buying cheaper groceries (57%) and cutting back on takeaways (55%) and treat purchases (49%) the most common changes. Concerningly some New Zealanders have reported skipping meals (17%), limiting heating (24%) and avoiding medical treatment or skipping medication (16%).

  • 31% of New Zealanders were unhappy with their financial situation this year (up from 22% in 2023 and 25% in 2022).

  • There has been a drop in the number of retirees with more than 10 years of retirement savings, and an increase in those with less than one year of current retirement savings.

  • 82% hold investments, with KiwiSaver the most likely held investment type.

  • Troubling KiwiSaver trends include average member weekly contributions dropping 7.8% (comparing 2023 to 2021); hardship withdrawals are at an all-time high; the KiwiSaver gender gap continues to increase, now sitting at a $7,450 average balance difference between males and females. Most worryingly, the average KiwiSaver member who has been contributing all their working life may not have enough to support them during retirement, according to Massey University Retirement Expenditure Guidelines.

  • Those who have struggled to make recent debt payments have been more proactive, with 29% reaching out to their bank (up from 20% in 2023) or speaking to family or friends (38% up from 28%).

 Research was conducted via online survey, with 2,002 respondents completing the data during March 2024.

More news:

Chubb Life Chief Executive Gail Costa is to retire in April 2025

Anna Schubert talks through self-development tips for advisers

Tony Vidler suggests how advisers can create compelling offers

Financial Advice NZ webinar 'The role of emotion and chemistry in client decision-making' 18 September

Clive Fernandes writes of how AI can help personalise financial advice

‘Inspiring Success’ event takes place on 7 November in Auckland

mySolutions webinar 'SimpleWills and your estate' 11 September

Debate whether it is it time to boost KiwiSaver contributions at FSC pre-conference session

Value For Money report highlights top performing ethical KiwiSaver funds

Lloyd Burr writes about how hard it is to start a new bank in NZ

Inland Revenue is proposing to make fees charged for fund management exempt from GST

GPs warn primary care is close to collapse

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AIA held annual summit

AIA NZ held their annual Healthier, Longer, Better Lives Summit on 4 July.

AIA NZ held their annual Healthier, Longer, Better Lives Summit on 4 July. The conference brought together advisers to hear from a range of speakers around the Healthier, Longer, Better Lives theme.

  • AIA NZ Chief Executive Officer, Nick Stanhope, AIA NZ Head of Aligned Advice, Jack Newman, and advisers Leelee Stone and Katrina Church discussed what Healthier, Longer, Better Lives means to them, and the crucial role advisers play in the industry.

  • David Letele discussed the health burden in society and the important role that preventative health plays in relieving this burden.

  • Raelene Castle, Group Chief Executive at Sport New Zealand and High Performance Sport New Zealand, shared her practical and unique methods for achieving growth.

  • Craig Deats, Global Sales and Distribution Executive at Vitality Global, spoke about AIA Vitality, a science-backed health and wellbeing programme, and how it is delivering value for advisers. This session was followed by an AIA Vitality Q&A, where Craig shared insights on the global programme and engaged with attendees.

  • Dame Valerie Adams, a shotput World Champion, Olympian and AIA Vitality ambassador, discussed the ‘For Myself’ pillar and what that meant to her.

 

More news:

Agenda try to persuade Government to ban insurers from using genetic testing information

AIA announce the winners of the Supreme Aspire Awards

Chubb Life launch new marketing campaign called Mission Insurable

Chubb Life implement email automation technology

The Adviser Platform (TAP) appoint Taz Alnahas as key account manager and Meryll Villaver as client engagement manager

Steve Wrights questions whether today's trauma products are fit-for-purpose

Accuro offer discount on insulated jackets at Kathmandu

Gallagher are giving away native trees in Napier

FMA publish the latest 'Money with Mary' article

Budget cuts at the Retirement Commission could impact Sorted website and other programmes of work

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Fidelity Life appoint new Independent Director

Scott Pickering has been appointed as an Independent Director on Fidelity Life's board.

Scott Pickering

Scott Pickering has been appointed as an Independent Director on Fidelity Life's board. Pickering has a wealth of governance and insurance experience, currently serving on the boards of IAG New Zealand, IAG Australia and Bowls New Zealand, and he was previously on the board of Chubb Life in New Zealand and Australia.

Fidelity Life Interim Chair Lindsay Smartt says,

“Scott’s passion for the insurance industry and his dedication to mentoring make him a perfect fit for Fidelity Life.

His leadership and strategic insight will be invaluable as we begin deploying our new strategic plan, and chart a course for long term success.”

 

More news:

Chubb makes multi-benefit discount permanent, extends 2 months’ FREE and 15% Lifetime Reward offers

Jon-Paul Hale espouses the need for Golden Life policies

The federal treasurer has approved of the sale of Suncorp Bank to ANZ

BNZ provides targeted support for customers affected by severe weather

Derek Chen has joined Strategi Group as Head of AML/CFT

ASB is teaching students how to spot fraud and scams in its new ScamWise workshop in schools

Government announces up to 26 cancer treatments to be funded as part of an overall package of up to 54 more new medicines

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Naomi Ballantyne joins The Adviser Platform Board

TAP Group has announced the appointment of Naomi Ballantyne as an independent director.

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Chubb Life Support Person of the Year entries are open

Chubb Life is bringing back their Support Person of the Year award, to recognise behind the scenes team members.

Chubb Life is bringing back their Support Person of the Year award. The award recognises behind the scenes team members. To nominate someone, enter here before 24 May.

The winners will receive a $1,000 Prezzy Card, runner up with receive a $500 Prezzy Card and third place will receive a $300 Prezzy Card.

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Doreen Dutt Doreen Dutt

Chubb Life Lifetime Reward Campaign live on Quotemonster

Chubb Life Lifetime Reward Campaign is now live on Quotemonster and here we provide instructions on how to include the offer in your quotes.

Chubb Life have increased their 10% Lifetime Reward discount to 15% for all new Assurance Extra and Assurance Extra Business Life and Trauma policies issued from 16 April to 30 June 2024 for customers who:

- have a BMI measurement of between 18.5 and 24.9, and

- have been a non-smoker for at least 12 months

Clients can also combine this with the current 2 months’ free and multi-benefit discount offers.

Click here to read about the offer and any terms and conditions that may apply.

How to include this option on Quotemonster:
- Create or open a quote
- Enter client information and click through to the Benefit Details screen
- Add in the benefit details and click Crunch to get a premium comparison
- Click on the Chubb Life logo in the Result window to open the Quote result window,
- Tick the Apply 15% Lifetime Reward checkbox.

You will need to do this for each quote where you want to include the discount.

Scroll down to review that the 15% Lifetime Reward has been applied.

If you have any questions, comments, or complaints, we want to hear them so please drop an email to  info@quotemonster.co.nz.

Happy Crunching!

 
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