Fidelity Life and health insurer nib have announced a mutual agreement not to continue their relationship in its current form when their existing agreement ends on 30 June 2019.
The companies say the decision was made considering the significant changes underway in the financial services sector and that the time is appropriate to seek new avenues in helping New Zealanders obtain insurance cover.
During the five year partnership, Fidelity Life represented nib health insurance products in the adviser market and supported advisers through joint quoting and application capabilities.
Fidelity Life Chief Distribution Officer, Adrian Riminton, says the five years were a success but now is the time to think about things differently.
“We’ll consider what this decision might mean for our approach to health insurance, as part of our goal of setting advisers and ourselves up for a sustainable and successful future, with the customer at the centre of everything we do,” he said.
nib New Zealand CEO, Rob Hennin, says it was a mutually beneficial relationship.
“We’ve been able to establish strong relationships with advisers, reinvigorate our products and build our service offering through tools such as the First Choice network, mynib and more,” said Hennin.
“Our focus is now on the future where we remain committed to supporting the adviser market and will increase our assistance to advisers to ensure their clients access health cover that protects them and their families,” he added.