RiskinfoNZ Podcast Transcript: 11 March 2020
With the number of confirmed coronavirus infections rising daily the financial impact, if any, on insurance companies is yet to be determined.
While the families of insured people are unlikely to face any issues should they need to make a claim, people applying for life insurance may face a standown period before being accepted for cover.
A new report reveals that of the Kiwis looking for financial advice, 34% want help with insurance.
The Future for Advice report by Deloitte says the future looks positive for advisers, but hints that artificial intelligent systems and Robo Advisers will – at some point – have an impact.
Our poll on the Privacy Act shows that financial advisers have some catching up to; with 70% admitting they may not be fully compliant.
Changes to the act include a legal requirement to tell clients when their privacy has been breached, and companies will be publicly named for allowing a breach to occur.
Fidelity Life is planning to water down its corporate image in a bid to be more relatable with customers.
Advisers at the firm’s Engage 2020 conference, held last week, heard that over the next 12 months the firm is adopting a strategy to put customers first.
The insurer has also hooked up with digital healthcare company Sharecare. The firm, co-founded by TV’s Dr Oz, produces a smartphone app to encourage people make better lifestyle choices.
Kepa has brought in outside help to develop a professional standards framework as a FAP licensee.
Sue Grant, who was the primary facilitator for the New Zealand Certificate in Financial Services qualification for Strategi, is working as a contractor with the firm to implement the new framework.
The Adviser Platform has launched a new accounting package for adviser businesses in New Zealand. The package includes a range of services, from GST and taxation, to forecasting and strategic business advice and structuring.
Insurers are being warned by the Reserve Bank of New Zealand about the continued risk of computer hackers.
The Reserve bank says cyber-attacks could cost New Zealand’s insurance sector $38 million every year.