KPMG insurer insights, and more daily news

KPMG has published a document that is based on insurer information ranging from market position, revenue, profit growth, capital strength, as well as profit and capital company. The document was prepared using publicly available data obtained from audited financial statements filed with the New Zealand Companies Office. There were several requirements applied to determine which insurer qualified to be included. These requirements are:

·       Currently registered as a licensed insurer in New Zealand on 31 December 2020;

·       Filed financial statements with the Companies Office; and

·        Described its main activities in the audited financial statements as either selling or reinsuring life insurance products. 

Those included were categorised into three groups:

·       Top 10 Direct;

·       Other Direct;

·       Reinsurers

Click here to read more

In other news

AIA: Senior Learning Designer role advertised

FMA: Liam Mason appointed as new General Counsel

MAS: PX Administrator/Project Coordinator role advertised


Quotemonster and Advicemonster updates - live now

We have updated the quotemonster site, on Thursday, and made the following items live, for more detail see below:

  1. New SOA report content setting options allow you to create more customisations for your SOAs if you are an Advicemonster subscriber. To access these click settings, then SOA Setting, then Report Content Setting
  1. New SOA template for Need analysis recommendation note pad - bring through all your calculations from the recommendation notepad in Advicemonster to quote and to the SOA.
  1. New nib rates applied to the site
  1. FSP input validation for user setting and register form - so it is important that your FSP number matches your name and the entry on the FSPR. A reminder that sharing your login is a breach of our terms and conditions and unusual account activity (like switching user names) will be picked up and we will be contacting account-holders that actively share their logins. 
  1. Improved the health product breakdown table in the research report.
  1. Applied Fidelity level standalone trauma maximum level term rule
  1. Changed Partners Life IP and MP max-age to 57 - as we do not quote reduced commission versions of income protection
  1. Update Web version number to v 3.8.7

Congratulations to Albert, Doreen, and the whole team on a big package of updates. Our special thanks to the advisers sending us issues and suggestions for improvement of the Advicemonster process and the SOAs. 


Quotemonster Chatswood Team

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This is your Quotemonster and Chatswood work team: I am so proud to work with such a great group of people. They have worked incredibly hard over the last few weeks as we had to make a lot of changes to meet new requirements for customers by 15 March. Since then we’ve trained hundreds of clients in updated processes. It has been so very busy and the team has stepped up.
 
From left to right, back row first: Melissa Waddel, our super new administrator; Treena Jordan, new Quotemonster GM, who starts with us on the 12th - we’re really looking forward to Treena joining us; Jerusalem Hibru who has been doing some great marketing work making us busier than ever. Doreen Dutt, researcher, who has also been so supportive of all the extra client calls for help. Kelly Pulham, who has been crucial to all the extra training and changes we’ve been doing. Fran, of course, who as well as business analyst and data work has taken on more leadership responsibility.
 
Front row, Rob Dowler compliance support and advice extraordinaire; yours truly; Ed Foster, does great data science work, and Albert Liu who is also an accomplished data scientist and IT leader. It has been so busy but working with this crew is a real privilege. We have big plans and lots of exciting stuff coming up. 

FSC Generations Journalists Panel

Interesting to hear the journalists panel talk at the FSC conference. Lots of commentary on the election campaign, less that is directly relevant to the financial services sector, but some big themes looming in the background: tax cuts and debt.

This contrasted significantly with the interview with James Shaw, Co-leader of the Green Party that had a lot of discussion of the proposed law to require reporting on assets that can be affected by climate change. That is immediately relevant to every fund manager and insurers. As an investor I am interested - it can be difficult to understand possible exposure clearly in many companies, let alone funds that invest widely. It is a valid criticism of investing through index trackers that you are bound to buy a bunch of shares in industries that we know will suffer a lot of disruption over the next couple of decades.

After James Shaw, we had Emma Mellow, candidate for Auckland Central for the National Party. Emma is someone I have worked with through FSC conference committee. Her background, work ethic, and practical focus on what matters are clearly excellent. I live in the Northcote electorate, but if I did live in Auckland Central I know that I would have a great representative in Emma Mellow if she were elected. 

Journalists Panel October 15 FSC Conference