Final training sessions for 2024 released

You’re invited to join our final training sessions for 2024, our team have had a great time running these sessions, meeting new and experienced advisers and receiving valuable feedback on what we can do to improve.

If you’re interested in joining us, please see our scheduled below:

• Introduction to Quotemonster – Wednesday, 11 December 2024 10:30 am-11:30 am

In this session, Kelly Pulham, our National Partnerships Lead, will demonstrate the basic functions of our website, along with some handy tips and tricks along the way.

• Demystifying Advicemonster - Wednesday, 11 December 2024 12:00 pm-1:00 pm

In this session Aneel Ravji, our AdviceTech Lead, will demonstrate how to use our needs analysis and statement of advice (SOA) tools.

• Business Risk Research and SOAs with Quotemonster – Thursday, 12 December 2024 9:30 am-10:15 am

In this session, Aneel will demonstrate how to use our business risk pricing, research, and SOA functionality.

If you would like to join either of these sessions, please email your request to info@quotemonster.co.nz

Happy Crunching!

Fidelity Life open applications for training programmes

Fidelity Life has opened applications for Advice Masters, Professional Pathways, Practice Manager Masterclass and Career Connect.

Applications are open for Advice Masters, Fidelity Life's intensive training and personalised professional development programme designed for experienced business owners in the financial services industry. The programme encompasses a wide range of topics: M&A; capital raising/funding strategies; high performance for business leaders; leading high performing teams; business strategy design and execution; governance; board craft; director skills and sustainability; business efficiency; technology and AI. The 30 available spots are by invitation only – interested people can talk to their business manager or apply here.

Professional Pathways is Fidelity Life's customisable extended training and development programme designed for motivated advisers, who are dedicated to growth and achieving their business goals. Over a 9-month period the programme will take participants through key topics – developing their business; advice and planning; business sales and growth; business efficiency. The programme consists of skills based workshops, self-paced learning through courses, resources and quizzes, online webinars and interactive online workshops.

Practice Manager Masterclass are targeted at admin staff and will help to improve workflow and productivity.

Career Connect is Fidelity Life's comprehensive education and skills programme designed to develop the next generation of financial advisers. Career Connect equips participants with relevant qualifications, practical skills and knowledge, and industry connections. The 2025 intake will commence in May and will run for 6 months. Applicants will be invited for an interview and the fee for the programme is approximately $1650.

More news:

Financial Advice NZ webinar 'Shaping the future of financial advice' 11 December

Unimed offer customers My Food Bag discounts

Russell Hutchinson reviews a game to teach financial literacy

Sam Friggens appointed general manager climate transition at ASB

Health NZ proposing to lay off 1500 staff in restructure proposal

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.

• 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

Upcoming training sessions

We are hosting online training sessions on Researchmonster, Advicemonster and Business Risk/Research on a regular basis, we invite you and your team to join us if you’re interested in learning more about these new features.

Our next sessions will be: 

• Introduction to Quotemonster – Wednesday, 30 October 2024 9:30 am-10:30 am

In this session, we will demonstrate the basic functions of our website, along with some handy tips and tricks along the way.

• Demystifying Advicemonster - Tuesday, 29 October 2024 9:30 am-10:30 am

In this session Aneel Ravji, our AdviceTech Lead, will demonstrate how to use our needs analysis and statement of advice (SOA) tools.

• Business Risk Research and SOAs with Quotemonster – Tuesday, 29 October 2024 11:30 am-12:15 pm

In this session, Aneel will demonstrate how to use our business risk pricing, research, and SOA functionality.

If you would like to join either of these sessions, please email your request to info@quotemonster.co.nz

Happy Crunching!

Southern Cross has new Chief Communications & Brand Officer

Tony Reid has joined Southern Cross as its new chief communications & brand officer. Reid started the role in September and his remit is to enhance the organisation’s communications strategy and brand presence across health insurance and healthcare services. Reid has previously held leadership positions at Kiwibank, Suncorp New Zealand and the Financial Markets Authority.

More news:

Advisers can update client contact details through a new self-service request form in AIAHub

RiskInfoNZ poll finds 60% agree that life insurance is too expensive for the average Kiwi

Health NZ’s Mental Health and Addiction Workforce Plan increases training places for mental health and addiction professionals

Upcoming training sessions

We are hosting online training sessions on Researchmonster and Advicemonster on a regular basis and invite you and your team to join us if you’re interested in learning more about these new features.

Our next sessions will be: 

• Introduction to Quotemonster – Monday, 16 September 2024 11:00 am-12:00 pm

In this session, we will demonstrate the basic functions of our website, along with some handy tips and tricks along the way.

• Demystifying Advicemonster - Monday, 16 September 2024 2:00 pm-3:00 pm

In this session Aneel Ravji, our AdviceTech Lead, will demonstrate how to use our needs analysis and statement of advice (SOA) tools.

• Business Risk Research and SOAs with Quotemonster – Tuesday, 17 September 2024 10:00 am-10:45 am

In this session, Aneel will demonstrate how to use our business risk pricing, research, and SOA functionality.

• Checkmonster Demonstration - Tuesday, 17 September 2024 10:45 am-11:00 am

In this short session, Aneel will demonstrate how to use our newly released Checkmonster feature.

• Research Deep Dive - Thursday, 19 September 2024 11:30 am-12:30 pm

Join our research team for a research deep dive meeting, subjects for the coming session are:

• the challenges of comparison,

• results of our research advisory board meeting consultation on non-Pharmac medicines coverage ratings,

• new head-to-head report designs, and

• the forthcoming IP research review.

If you would like to join either of these sessions, please email your request to info@quotemonster.co.nz

Happy Crunching!

Southern Cross release their Healthy Futures Report

Southern Cross have released the Healthy Futures Report 2024, which surveyed 2,000 New Zealanders about their health and wellbeing behaviours. Some of the key findings include:

• The biggest concerns for New Zealanders were the cost of living (91%); violence in society (86%); not having access to good, affordable healthcare (84%); and affordable housing, mental health and not having access to cancer treatment services all at 82%.

• Health professionals remain the main source of health information (64%), followed by online articles/websites (52%), but social media is increasing in popularity with young people and Pasifika people (up 6% to 27%).

• A majority of people seek treatment immediately (12%) or within a day or two (47%), though 10% usually don’t seek professional advice or treatment.

• The main barriers to accessing healthcare include cost (35%) and wait times being too long (34%). There has been a jump in people not being able to access healthcare at the time they want (up 4% to 20%).

• When it comes to dental treatment, the main barriers are cost (60%) and not being covered by medical treatment (13%).

• New Zealander’s define ‘healthy’ as mental wellbeing (70%), avoiding smoking and tobacco (70%), getting enough sleep (67%), eating a balanced diet (67%) and emotional wellbeing (66%).

• Physical health concerns include level of fitness (65%), making sure kids eat healthy foods (65%), long term physical health effects (65%) and family health and wellbeing (65%).

• The average kiwi exercises for 30 minutes, three times a week – 61% don’t feel they are getting enough exercise. Being too tired (33%) and not having enough time (32%) continue to be the main barriers to exercising.

• While 92% of kiwis consider themselves knowledgeable about what healthy food is, 82% consider healthy eating to be expensive and 74% would like to lose weight.

• ·The top emotional wellbeing concerns are concentrated around family, with kiwis concerned about whether their children will cope with the pressures of life (60%), not having enough money to support myself/my family (55%) and parents/relatives getting elderly and needing care (51%).

• Only 44% of New Zealanders consider themselves as getting enough sleep, with those living with kids or living with a disability being more sleep deprived than others. Reasons given for not getting enough sleep included having too much to think about (49%), going to bed too late (41%) and being anxious or stressed (40%).

• While 88% consider work life balance to be important, only 33% consider they currently have a good balance. Factors kiwis consider as important to achieving a good work/life balance include having flexible working hours (43%), switching off from work when finished for the day (43%) and sticking to set work hours (34%). Conversely, factors contributing to a negative work/life balance include workload being too high (60%), financial pressures (46%) and not having flexible working hours (40%).

• Actions New Zealanders are taking to look after their emotional health and wellbeing include keeping your brain stimulated (60%), spending time outdoors (58%), nurturing and maintaining relationships (54%) and spending more time with family (52%).

More news:

AIA revise launch date for Accidental Injury cover

Partners Life New Adviser Training Course on 21 October

Finger-prick blood test developed to detect the hallmark protein in early Alzheimer’s

Te Whatu Ora and West Coast Health propose closing all after hours GP services

Changes announced to the way police respond to mental health call-outs

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 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.

More news:

Financial Advice New Zealand has launched its Connect Tour 2024

Megan Beer awarded Honorary Life Membership at the ANZIIF Outstanding Contribution Awards

Retirement Commissioner asks financial services industry to raise KiwiSaver report with politicians

Roxanne Salton talks about how insurance firms can counter phishing attacks

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.

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.

More daily news:

UniMed is now New Zealand’s third-largest health insurer

Partners Life's Kate Dron on podcast on the risks of cancelling life insurance

AIA Board Chair Theresa Gattung has been honoured as a Dame Companion of the New Zealand Order of Merit

mySolutions webinar 'Getting to Know Your Customers' 12 June

BNZ announces a statutory net profit of $762 million for the six months ending March 31

New Research Deep Dive Session introduced

Join Quotemonster’s research team as we meet up online and have a discussion on a research topic – our focus in this meeting is Comprehensive Trauma, other types of trauma will be discussed at a later time.  

In this session, we will explain our trauma rating, any changes that have been made to these products in the last quarter and some research reviews we have in progress. This is Q&A style and while we have prepared an agenda, the aim is for advisers to come along and ‘ask us anything’ about trauma, provide claims or general feedback on the topic.

Our goal is to focus on a specific research topic each time we meet, show advisers where they can find related infographics or resources that can then be shared to clients, and to have a sneak peek into the QPR database.

Prerequisites: This session is for advisers who already have a basic understanding of our research methodology and would like to deepen their knowledge, we highly recommend attending our Introduction to Quotemonster prior to joining our Research Deep Dive.    

If you would like to attend our first session scheduled on Thursday, 13 June 2024 11:30 am-12:30 pm, please email us info@quotemonster.co.nz and we will send you a calendar invite. Furthermore, if there is a topic you would like us to prioritise, please submit your request to the above mentioned email.

We look forward to seeing you there!