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:

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Fidelity Life announce winners of their Adviser awards

Fidelity Life announced the winners of their Adviser Awards at their 2024 Engage Conference.

Fidelity Life announced the winners of their Adviser Awards at their 2024 Engage Conference.

Professional of the future award: Josh Cuttance – SHARE NZ (Dunedin).

Josh has leveraged social media as a powerful tool to connect, engage, and elevate his professional presence. As well as being a member of Fidelity Life’s Adviser council, he contributes to the wider industry via groups like Financial Advice New Zealand. Balancing the roles of business owner, adviser and father he demonstrates resilience and ambition, recently expanding his team with a new administrative member.

Josh Cuttance being presented with the Professional of the future award by Campbell Mitchell

Josh Cuttance being presented with the Professional of the future award by Campbell Mitchell

Cary Veenhof award: Andrea Reid – Aliya Insurance Brokers (Waikato).

Andrea has over 25 years of industry experience and now leads her own FAP and has dedicated her career to supporting New Zealanders. With a client-first approach, she offers guidance during critical claim times, reflected in her excellent NPS results.

Andrea Reid being presented with the Cary Veenhof award by Campbell Mitchell

Andrea Reid being presented with the Cary Veenhof award by Campbell Mitchell

Team of the Year: Financial Independence (Tauranga).

With 22 professionals, Financial Independence provides outstanding life insurance and service advice, supported by specialised roles in Operations, Claims, and Customer Outcomes. Their commitment to clients is enhanced by teamwork, with everyone based in one office to foster collaboration and shared learning. Their community involvement is equally inspiring, supporting causes like Women’s Wellness, Homes of Hope, Scouts NZ, and Breast Cancer Support.

The Financial Independence team being presented with the Team of the Year award by Campbell Mitchell

The Financial Independence team being presented with the Team of the Year award by Campbell Mitchell

Lifetime Award: Grant Maddison - Maddison Financial Services (Queenstown).

Grant has built a reputation as a trusted adviser and mentor, blending warmth and professionalism. His client base is diverse, from tradies to high-net-worth families, with whom he’s fostered long-standing relationships. Specialising in rural sectors, SMEs, and families across Queenstown, Central Otago, and Southland, he’s respected for his expertise and commitment. Beyond his professional achievements, he’s a proud member of Financial Advice New Zealand and brings a passion for travel, golf, soccer, and community.

Grant Maddison being presented with the Lifetime award by Campbell Mitchell

Grant Maddison being presented with the Lifetime award by Campbell Mitchell

Gordon Watson Trophy: Brett Pearce - Pearce Financial Services (Auckland).

Brett is a 6-time winner of this award. With his extensive experience in the industry and focus on customer outcomes, Brett is consistently described by his customers as professional, prepared, and knowledgeable, keeps up with the latest industry developments and offers a variety of options to meet his customers’ needs. Always there for his customers at claim time, he is also highly regarded by our internal claims and underwriting teams.   

Brett Pearce being presented with the Gordon Watson Trophy by Campbell Mitchell

Fidelity Life’s Business manager of the year award was shared by Kenny Kaushish (Auckland) and Michelle Vaughan (Christchurch), who have shown incredible growth and tenacity in delivering outstanding performances.

Kenny Kaushish being presented with the Business Manager of the year award by Campbell MItchell

Kenny Kaushish being presented with the Business Manager of the year award by Campbell MItchell

Michelle Vaughan being presented with the Business Manager of the year award by Campbell Mitchell

Michelle Vaughan being presented with the Business Manager of the year award by Campbell Mitchell

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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,”

 

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

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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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New Active Benefits are now available to Accuro policyholders

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nib launches an AI-driven symptom checker

nib has launched an AI-driven symptom checker, to help direct kiwis to the appropriate treatment, based on their needs.

nib has launched an AI-driven symptom checker, to help direct kiwis to the appropriate treatment, based on their needs. The symptom checker is available to all nib health policyholders through the my nib app.

Users input their symptoms and the symptom checker gives information on possible conditions as well as when and where to seek care. For a limited time, users advised to book a telehealth GP appointment will be able to get an appointment with Tend’s nationwide online GP service, at no additional cost.

nib New Zealand Chief Executive Officer, Rob Hennin, said

“It’s part of nib’s mission to help Kiwis take a more proactive approach to their health and wellbeing no matter where they are… AI-powered health tools, such as symptom-checkers, can help keep non-urgent medical cases out of hospital emergency departments, relieving some of the pressure on hospitals and emergency department staff, and help ensure people get the right level of medical attention.”

The symptom checker platform was developed by Infermedica and has been used in more than 30 countries, reaching more than 17 million users internationally.

 

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The ANZIIF Group Life Seminar is on 3 September in Sydney

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New Zealand’s unemployment rate rises to 4.6% in the June quarter

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AIA release their 2023 Sustainability Report

AIA has released its 2023 Sustainability Report: Sustaining Healthier, Longer, Better Lives.

AIA has released its 2023 Sustainability Report: Sustaining Healthier, Longer, Better Lives. Key highlights include:

  • Achieved Toitū carbonreduce certification

  • Paid 92% of claims received, totalling $734.8M in 2023

  • Grew to 55,000+ AIA Vitality members, encouraging members to improve their physical and mental wellbeing

  • Invested into the Betashares Global Sustainability Leaders and Australian Sustainability Leaders funds

  • Began transitioning fleet to hybrid vehicles to reduce fuel usage

  • 2023 Gallup Engagement Survey Top Quartile in global finance and insurance industry benchmark

  • Partnered with the Sustainable Business Council, hosting a webinar highlighting their Environment and Our Health Report.

AIA was recognised for its sustainability efforts, winning the 2023 Australian and New Zealand Institute of Insurance and Finance Awards for Excellence in Environmental, Social and Governance (ESG) Change, and the Financial Services Council of New Zealand Award for Excellence in Sustainable Practices.

Nick Stanhope, AIA NZ CEO, said

“At AIA NZ, our dream is for New Zealand to be one of the healthiest and best protected nations in the world. We understand that environmental sustainability not only has an impact on the wellbeing of our planet, but on our physical and mental health as well.

By rolling out initiatives and practices which support our ESG goals, we’re demonstrating our commitment to safeguarding the environment and the health of our communities.”

 

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External Reporting Board hold Sandbox Session for Assurance Practitioners

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Five strategies for advisers to navigate a high-rate environment

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Feedback requested on the Code of Professional Conduct for Financial Advice Services

The Financial Advice Code Committee is seeking industry feedback on proposed amendments to the Code of Professional Conduct for Financial Advice Services.

The Financial Advice Code Committee is seeking industry feedback on proposed amendments to the Code of Professional Conduct for Financial Advice Services.

The consultation outlines three proposed amendments to the Code:

  • Formally recognise version 3 of the Level 5 Certificate, noting those who can demonstrate their competence, knowledge, and skill by reference to version 1 or version 2 of the Level 5 Certificate, or an equivalent qualification don’t need to update their qualification.

  • Retain the Level 5 Certificate qualification outcomes as the minimum standard for investment planning competence and remove the interim status of Code Standard 7.

  • Clarify the requirements for continuing professional development in CS9.

Code Committee Chair Angus Dale-Jones said

“The proposed amendments reinforce the importance of continuing professional development for financial advisers. That’s fundamental for the availability and quality of financial advice for all New Zealanders.”

Submissions are due by 5pm on Wednesday 14 August 2024. The committee will give an online presentation about the consultation on Thursday 4 July, you register here.

 

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Fidelity Life announce the recipients of its 2024 Career connect scholarships

Fidelity Life has announced the seven recipients of its 2024 Career connect scholarships. The adviser training scholarships, worth up to $5,000 each, are awarded to new-to-the-industry applicants from underrepresented groups in the financial services sector.

Fidelity Life has announced the seven recipients of its 2024 Career connect scholarships. The adviser training scholarships, worth up to $5,000 each, are awarded to new-to-the-industry applicants from underrepresented groups in the financial services sector.

 

Pounamu scholarship – for an outstanding Māori applicant: Awhina Scott - Awhina is dedicated to improving the financial (and overall) wellbeing of Māori communities through better access to quality financial advice.

 

Kōwhai scholarship – for an exceptional Pasifika applicant: Jenny Silva - Jenny is passionate about empowering others to make informed financial decisions and contributing to the future financial stability of individuals and families within Pasifika communities.

 

Rural scholarship brought to you by FMG: Grace McIntyre - Coming from a rural community herself, Grace is passionate about raising awareness of the importance of advice and insurance in safeguarding rural livelihoods.

 

Women in Finance scholarship brought to you by Kaplan Professional: Anna Devereux - With a background in finance, Anna understands the need for people to receive advice from someone they trust. She looks forward to helping more New Zealanders achieve financial literacy and security.

 

Paua scholarship – for applicants who demonstrate excellence: Marna Breetzke - Marna is passionate about helping others and looks forward to being able to educate more New Zealanders on the importance of financial advice.

 

Toe Toe scholarship – for outstanding young applicants: Sydnee Taylor – Sydnee's background in the health and fitness industry ignited her passion for enhancing others' wellbeing and building strong relationships. She hopes to now leverage these skills to help others make informed financial decisions, resulting in financial wellbeing and security.

 

Rangi Po scholarship – for underrepresented identities in our industry: Taylah Marr – Passionate about supporting others, Taylah wants to help more New Zealanders get ahead financially and gain peace of mind over their financial futures.

 
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Asteron Life to be sold to Resolution Life Australia

Resolution Life Australasia has acquired Asteron Life from Suncorp Group for a purchase price of $410 million.

Resolution Life Australasia has acquired Asteron Life from Suncorp Group for a purchase price of $410 million. Asteron Life has about 165 employees servicing more than 180,000 customers and their advisers. Resolution Life Australasia is part of Resolution Life, a global life insurance group with around 14 million policyholders.

The acquisition is still subject to New Zealand regulatory approvals, with the deal expected to complete in approximately nine months. If the purchase goes ahead, Resolution Life will become the second largest life insurer in New Zealand.

Tim Tez, Chief Executive Officer Resolution Life Australasia, said

“This acquisition further demonstrates our commitment to the Australasian market and our success in growing our business in the region… Asteron Life presents a compelling opportunity to continue to grow through new individual and group customers while continuing to support existing customers.

Resolution Life will support the Asteron Life business with its momentum and success in the New Zealand life insurance market. As a trusted life insurer, Asteron Life will continue to operate as a standalone New Zealand licenced life insurance company, under its existing brand in New Zealand and support advisers and their customers using the same dedicated team and management.”

 

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Fidelity Life and Kaplan Professional join together to deliver Career Connect training

Fidelity Life has partnered with Kaplan Professional to deliver their Career Connect financial adviser training programme. Kaplan Professional will join as the programme’s education provider, in conjunction with Massey University.

Fidelity Life has partnered with Kaplan Professional to deliver their Career Connect financial adviser training programme. Kaplan Professional will join as the programme’s education provider, in conjunction with Massey University. Kaplan Professional will fund a new Women in Finance Scholarship, to join Fidelity Life’s existing six scholarships.  

Applications are open for Career Connect’s 2024 intake, with 30 places, including 7 scholarships, available. The programme runs from May until December 2024.

The scholarships available are:

  • Women in Finance scholarship brought to you by Kaplan Professional, designed to assist female applicants to become financial advisers

  • Rural scholarship brought to you by FMG, designed for applicants with a rural connection

  • Pounamu scholarship, designed to assist Māori applicants

  • Kōwhai scholarship, designed to assist Pasifika applicants

  • Rāngi Po scholarship, designed to support underrepresented identities in our industry.

  • Toe Toe scholarship, designed to recognise outstanding young applicants.

  • Pāua scholarship, designed to recognise outstanding applicants who demonstrate excellence.

Kaplan Professional CEO Brian Knight said

“Programs like Career connect provide the ideal launchpad for a bright future in financial advice, so we are delighted to collaborate with Fidelity Life on what we believe is a terrific initiative to strengthen New Zealand’s talent pipeline.”

“We also remain steadfast in our commitment to encouraging and promoting diversity within the industry, so we are thrilled to be able to provide a scholarship for women in every intake of the program.”

There is a free online career evening on March 19 where those interested can find out more about becoming a financial adviser, what being a financial adviser is really like and how Career Connect can support you to gain the qualifications and skills necessary to become a successful financial adviser.

 

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