The history and key achievements of Partners Life has been published on the firm’s website as part of its pledge to be more open and transparent with customers, advisers, and the regulator.
The Partners Life Timeline, says the company’s MD Naomi Ballantyne, covers all the customer-centric events that have occurred at the firm since its launch in 2011 – including yearly recaps of in-force business levels, claims paid verses declined ratios, capital raised, and financial strength history.
Ballantyne says its Timeline represents an important step toward removing some of the opacity in the life insurance market “…which has historically led to distrust and confusion for clients”.
“If we as an industry believe that we do a good job for our clients and New Zealand as a whole,” she says. “We shouldn’t just be saying that to the regulators or to each other – we should be proving it to the public.
“The Timeline is a first and significant step for Partners Life in doing just that.”
Ballantyne says every product-related change since the firm launched – both positive and restrictive – every premium rates change, along with other events which might be of interest to a potential client, have been published.
…we believe our performance over the last decade absolutely speaks for itself…
“There is a huge amount of information contained within the Timeline,” says Ballantyne. “Much of which has never been publicly made available by life insurers in the NZ market before.
“We are happy to make this information public, because we believe our performance over the last decade absolutely speaks for itself, and think that this information will be of great value to the general public, and to [adviser] clients in getting comfort around who Partners Life is, and what we believe in.”
See our story: Partners Life Prepares for Stock Exchange Listing