This article in NZ Herald explains what happens to someone's assets if they die without a Will in place. Research by the Commission for Financial Capability has found 47 per cent of people have a will but it is much lower for non-Pākehā.
AMP have this section on their site which gives consumers a bunch of helpful articles based on the categories below.
Congratulations to adviser excellence award winners Camilla Gribble, Ryan Smuts, and Tim Fairbrother. It was great to see advice being celebrated by your awards.
Congratulations to Financial Advice New Zealand on their first conference. I have only three photos, but there have been plenty of you folk being shared on LinkedIn for us:
There were many good presenters, this is a quick snap of Jane Eschenbach who presented with Trevor Slator on complaints handling.
The monster during one of the breaks - thank you to everyone who stopped by to say hello!
There was fabulous weather, clear and bright - but cold!
The AFR has this from the Australian Royal Commission. The recent coverage has tended to focus on general insurers and direct sales, although several complaints relating to living insurance were also identified. This included payments for breast cancer being made not on unequivocal diagnosis, but only after a mastectomy. Questions were asked about the level of commissions for life insurance as well.
If you are going to be in Rotorua for the Financial Advice New Zealand Conference stop by and say hello. Either at the risk Masterclass, or at the Quotemonster stand in the exhibition area.
Roger Styles, writing on the HFANZ blog, credits the HFANZ code for the low rate of complaints about health insurance. Link.
Lemonade, a general insurer, publishes this cool automation index, tracking policies per employee from the start of doing business. Link.
How do New Zealand insurers compare? Well, it is hard to say because we do not know exactly how many people that they employ. Based on some disclosures, however, and an imperfect count of policies. This is a rough guide for a reasonably large insurer: about 1000 policies per employee. Have fun working out what your number is, and whether you can catch Lemonade.
Do check out that link, by the way, as it has a good, detailed, discussion of automation and how Lemonade has been able to achieve its high ratio.
The FSC has a series of video highlights available on their Youtube Channel. Here is Jazz Thornton who gave the keynote close to the conference.
The Quality Product Research live database has been updated to version 11.6, which has also been distributed to institutional subscribers.