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National Adviser Conference

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.

Jane E presenting

The monster during one of the breaks - thank you to everyone who stopped by to say hello!

Monster and stand

 

There was fabulous weather, clear and bright - but cold!

Rotorua Morning


Australia: AFR Royal Commission Coverage

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.


Automation index

Lemonade, a general insurer, publishes this cool automation index, tracking policies per employee from the start of doing business. Link.

Automation_index-1024x536

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.