https://www.chatswood.co.nz/moneyblog/ Commentary and financial news triggered by working in sales and marketing management consulting to financial services companies - and other observations - from Russell Hutchinson at Chatswood Consulting Limited en-US Wed, 13 Sep 2023 17:42:53 +1200 http://www.typepad.com/ http://www.rssboard.org/rss-specification noCommentary and financial news triggered by working in sales and marketing management consulting to financial services companies - and other observations - from Russell Hutchinson at Chatswood Consulting Limited https://www.chatswood.co.nz/moneyblog/2023/09/medical-price-comparison-update.html https://www.chatswood.co.nz/moneyblog/2023/09/medical-price-comparison-update.html We have just uploaded V102 of the Medical Comparison for those institutional subscribers. Updates in V102: Updated Accuro rates effective 1/9/23 Updated Unimed rates effective 1/8/23 Accuro UNIMED Russell Hutchinson Wed, 13 Sep 2023 17:42:53 +1200 https://www.chatswood.co.nz/moneyblog/2023/09/demystifying-advicemonster-online-session.html https://www.chatswood.co.nz/moneyblog/2023/09/demystifying-advicemonster-online-session.html Over 2,000 Statement Of Advice (SOA) reports have been generated on Quotemonster in the last six months and we invite you to see why! We welcome you to join our upcoming online Advicemonster training session scheduled on Thursday, 14 September... Advisers Quality Product Research Quotemonster Doreen Dutt Wed, 13 Sep 2023 11:45:00 +1200 https://www.chatswood.co.nz/moneyblog/2023/09/qa-with-the-financial-advice-nz-risk-board-member-director-risk-nominees.html https://www.chatswood.co.nz/moneyblog/2023/09/qa-with-the-financial-advice-nz-risk-board-member-director-risk-nominees.html Voting for Financial Advice New Zealand’s Board Member Director (Risk) is open, with votes closing at 1pm on 27 September. Find out a bit more about the nominees below and here. You can vote here. Sonja Barrett Sonja is self-employed,... Advice Advisers AI Aotearoa New Zealand Cancer Financial Advice New Zealand Goodreturns Health KiwiSaver People Risk RiskInfoNZ.co.nz Women in finance Women in insurance Kelly Olsen Wed, 13 Sep 2023 08:00:00 +1200 https://www.chatswood.co.nz/moneyblog/2023/09/aia-has-released-2022-claims-data.html https://www.chatswood.co.nz/moneyblog/2023/09/aia-has-released-2022-claims-data.html AIA has released their annual claims data for 2022. 93% of all claims received were accepted. Paid $646.4 million in claims. Broken down this comes to $121.5 million in Health claims, $233.8 million in Life claims, $111 million in Trauma... Advice AIA Cancer Claims Goodreturns Health Insurance Income Protection KiwiBank Life insurance NZHerald People PHARMAC TPD Trauma Wellbeing services Kelly Olsen Tue, 12 Sep 2023 11:25:00 +1200 https://www.chatswood.co.nz/moneyblog/2023/09/legal-and-regulatory-update-for-the-life-and-health-insurance-sector-2.html https://www.chatswood.co.nz/moneyblog/2023/09/legal-and-regulatory-update-for-the-life-and-health-insurance-sector-2.html 8 Sep 2023 - The FMA has agreed in principle to grant an exemption (with conditions) for climate reporting entities who are listed issuers or registered banks from the requirement to include a copy of, or link to, their climate statements... Climate change FMA KiwiSaver Kelly Olsen Tue, 12 Sep 2023 06:26:00 +1200 https://www.chatswood.co.nz/moneyblog/2023/09/how-intermediaries-can-prepare-for-cofi.html https://www.chatswood.co.nz/moneyblog/2023/09/how-intermediaries-can-prepare-for-cofi.html MinterEllisonRuddWatts has published an article on how intermediaries can prepare for CoFI. They define who qualifies as an intermediary and a consumer; outline insurers’ obligations in setting up and maintaining a fair conduct programme; outline what intermediaries can expect financial... Advisers AI Cancer COFI Current Affairs Financial Advice New Zealand NZ Income Insurance Scheme Partners PHARMAC RiskInfoNZ.co.nz Kelly Olsen Mon, 11 Sep 2023 14:42:15 +1200 https://www.chatswood.co.nz/moneyblog/2023/09/good-returns-looks-deeper-at-insurers-following-news-of-withdrawn-benefit.html https://www.chatswood.co.nz/moneyblog/2023/09/good-returns-looks-deeper-at-insurers-following-news-of-withdrawn-benefit.html Last week we wrote about Southern Cross refuting claims advisers weren’t informed about dropping a $60,000 a year benefit for non-surgical hospitalisations. Good Returns has followed up their earlier enquiries by approaching other insurers to find out their cover levels... Accuro AIA ANZ Cancer Chubb Chubb Life Claims Fidelity Goodreturns Health Health Insurance Insurance Council nib NZHerald Partners People RiskInfoNZ.co.nz Southern Cross Underwriting UNIMED Kelly Olsen Mon, 11 Sep 2023 10:50:48 +1200 https://www.chatswood.co.nz/moneyblog/2023/09/data-is-plural-international-cancer-data-.html https://www.chatswood.co.nz/moneyblog/2023/09/data-is-plural-international-cancer-data-.html The excellent blog, data is plural, publish links to open-source data which may be of interest. One that caught our eye is a link to International cancer statistics. The World Health Organization’s Global Cancer Observatory provides interfaces to a range... Cancer Claims Customer Data Trauma Russell Hutchinson Sun, 10 Sep 2023 16:08:35 +1200 https://www.chatswood.co.nz/moneyblog/2023/09/fidelity-have-extended-their-policy-fee-waiver.html https://www.chatswood.co.nz/moneyblog/2023/09/fidelity-have-extended-their-policy-fee-waiver.html Fidelity Life will waive the policy fee of any new eligible policy that is taken out before 31 March 2024. On Quotemonster all quotes for Fidelity will have no policy fee. To match this to Fidelity’s quoting software, Apollo, simply... Doreen Dutt Sun, 10 Sep 2023 11:25:00 +1200 https://www.chatswood.co.nz/moneyblog/2023/09/legal-and-regulatory-update-for-the-life-and-health-insurance-sector-1.html https://www.chatswood.co.nz/moneyblog/2023/09/legal-and-regulatory-update-for-the-life-and-health-insurance-sector-1.html 6 Sep 2023 - NZ Banking Association publish their regulatory radar for August 2023 https://www.nzba.org.nz/wp-content/uploads/2023/09/August-2023-Banking-Sector-Regulatory-Radar.pdf 6 Sep 2023 - Minister of Commerce and Consumer Affairs, Hon Dr Duncan Webb, July 2023 diary released with the following potential financial services sector... Aotearoa New Zealand Banks Governance Insurance Council Minister Privacy Reserve Bank of New Zealand Kelly Olsen Fri, 08 Sep 2023 14:27:15 +1200 https://www.chatswood.co.nz/moneyblog/2023/09/looking-to-buy-a-client-base-.html https://www.chatswood.co.nz/moneyblog/2023/09/looking-to-buy-a-client-base-.html We are often approached by advisers that are looking to acquire a client base whether we know of any available. Right now we have two. A large book in the central region, under contract, and another book which is available... Advicebridge Advisers Russell Hutchinson Thu, 07 Sep 2023 08:05:00 +1200 https://www.chatswood.co.nz/moneyblog/2023/09/report-that-gives-an-overview-of-the-new-zealand-insurance-market-published.html https://www.chatswood.co.nz/moneyblog/2023/09/report-that-gives-an-overview-of-the-new-zealand-insurance-market-published.html Duncan Cotterill’s ‘Covering the New Zealand Insurance market 2023’ report has been published, giving an overview of the current market and covering key issues facing insurers. Some key items of interest in the report include: An article on ESG trends... Advice Advisers AML Aotearoa New Zealand Australia Claims Climate change Commission Cybercrime ESG Fidelity Financial Advice New Zealand Fintech General Insurance Goodreturns Health Insurance Life insurance Pricing and Premiums RiskInfoNZ.co.nz Southern Cross Kelly Olsen Thu, 07 Sep 2023 08:00:00 +1200 https://www.chatswood.co.nz/moneyblog/2023/09/southern-cross-responds-to-accusations-it-dropped-a-60k-benefit-without-informing-customers-or-advis.html https://www.chatswood.co.nz/moneyblog/2023/09/southern-cross-responds-to-accusations-it-dropped-a-60k-benefit-without-informing-customers-or-advis.html Southern Cross has refuted a Good Returns article where advisers complained about not being informed about Southern Cross dropping a $60,000 a year benefit for non-surgical hospitalisations. Southern Cross removed the non-surgical hospitalisation benefit as part of the Society’s benefit... Advisers ASB Cancer Claims Climate change Current Affairs Financial Advice New Zealand Goodreturns Health Health Insurance KiwiSaver Mental Health nib Policy documents Quality Product Research RiskInfoNZ.co.nz Southern Cross Kelly Olsen Wed, 06 Sep 2023 11:28:54 +1200 https://www.chatswood.co.nz/moneyblog/2023/09/legal-and-regulatory-update-for-the-life-and-health-insurance-sector.html https://www.chatswood.co.nz/moneyblog/2023/09/legal-and-regulatory-update-for-the-life-and-health-insurance-sector.html 31 Aug 2023 - Pae Ora (Healthy Futures) (Improving Mental Health Outcomes) Amendment Bill introduced to Parliament. This bill amends the Pae Ora (Healthy Futures) Act 2022 to better enable the long-term planning and delivery that is required to improve... AML DIA FIU FMA Governance Mental Health Reserve Bank of New Zealand Kelly Olsen Wed, 06 Sep 2023 09:25:16 +1200 https://www.chatswood.co.nz/moneyblog/2023/09/pricing-updates-on-quotemonster-.html https://www.chatswood.co.nz/moneyblog/2023/09/pricing-updates-on-quotemonster-.html We can confirm that the rate changes for Accuro and AIA effective 1 September 2023 are now live on Quotemonster. This includes premium changes to: Accuro SmartCare and SmartCare+ AIA Disability Income and Waiver of Premium (DI), Mortgage and Income... Accuro AIA Pricing and Premiums Quotemonster Doreen Dutt Wed, 06 Sep 2023 09:11:17 +1200 https://www.chatswood.co.nz/moneyblog/2023/09/qa-with-akira-yamashita-and-satoshi-shimasaki-from-patners-life.html https://www.chatswood.co.nz/moneyblog/2023/09/qa-with-akira-yamashita-and-satoshi-shimasaki-from-patners-life.html We’ve had the pleasure of talking to Akira Yamashita, Deputy Chief Executive Officer and Satoshi Shimasaki, Deputy Chief of Finance who were both integral to the sale of Partners Life to Dai-ichi Life Holdings, Inc. Q&A with Akira Yamashita Partners... AI Current Affairs Cybercrime FSC FSCL Interest.co.nz Life insurance Mental Health NZHerald Partners People RiskInfoNZ.co.nz Southern Cross Kelly Olsen Tue, 05 Sep 2023 10:55:02 +1200 https://www.chatswood.co.nz/moneyblog/2023/09/quality-product-research-medical-review-process-commenced-for-non-surgical-hospitalisation.html https://www.chatswood.co.nz/moneyblog/2023/09/quality-product-research-medical-review-process-commenced-for-non-surgical-hospitalisation.html Recently, while traveling, Jon-Paul Hale called our team to discuss the removal of the non-surgical hospitalisation feature in various health products by Southern Cross, one being Wellbeing, which we currently rate on Quotemonster. I am deeply grateful to JP for... Advisers Health Insurance Southern Cross Russell Hutchinson Mon, 04 Sep 2023 13:47:31 +1200 https://www.chatswood.co.nz/moneyblog/2023/08/highlights-from-nibs-2023-community-report.html https://www.chatswood.co.nz/moneyblog/2023/08/highlights-from-nibs-2023-community-report.html nib has released their 2023 Community Report, highlighting community initiatives across New Zealand and Australia delivered by nib, the nib foundation and employee volunteering and fundraising. The nib foundation is nib’s charitable organisation that focuses on helping people and communities... Advice Advisers AI Aotearoa New Zealand Australia Current Affairs Cybercrime Financial Advice New Zealand FMA Fraud FSC Goodreturns Health KiwiBank Mental Health nib People RiskInfoNZ.co.nz Kelly Olsen Fri, 01 Sep 2023 10:33:01 +1200 https://www.chatswood.co.nz/moneyblog/2023/08/legal-and-regulatory-update-for-the-life-and-health-insurance-sector-5.html https://www.chatswood.co.nz/moneyblog/2023/08/legal-and-regulatory-update-for-the-life-and-health-insurance-sector-5.html 30 Aug 2023 - Chapter Zero says New Zealand needs to have credible net zero sector transition pathways https://www.chapterzero.nz/news/a-clear-path-to-decarbonisation-investment/ 31 Aug 2023 - First reading of the Employment Relations (Protection for Kiwisaver Members) Amendment Bill completed in parliament, referred to... Climate change Employers KiwiSaver Legislation Tax Kelly Olsen Fri, 01 Sep 2023 09:34:22 +1200 https://www.chatswood.co.nz/moneyblog/2023/08/premium-increases-at-aia.html https://www.chatswood.co.nz/moneyblog/2023/08/premium-increases-at-aia.html AIA is increasing premiums on its income protection (IP), waiver of premium and closed trauma products. AIA have said the increases are based on a gradual increase in IP claims and a higher level of claims on closed AIA trauma... Advice Advisers AIA Banks Current Affairs Economy Health Income Protection Interest.co.nz NZHerald PHARMAC Pricing and Premiums RiskInfoNZ.co.nz Tony Vidler Trauma Kelly Olsen Thu, 31 Aug 2023 08:00:00 +1200