The critical importance of the IFA channel to the future agenda for Partners Life was re-affirmed last week at the insurer’s 2023 Conference.
Addressing adviser delegates in his capacity as Partners Life Deputy CEO, Dai-Ichi Life’s Akira Yamashita spoke of the long-term strategic view taken by the new owner of Partners Life, which insures 66 million customers across the world.
…the distribution channel preference moving forward for Partners Life is “IFAs 100%”
Yamashita emphasised he and Dai-Ichi Life respect the principles of local management, meaning there would be no impact for independent financial advisers and their customers at the moment as a result of the change in ownership of Partners Life, which he positioned as New Zealand’s second-placed insurer in new business and market share.
He stressed the distribution channel preference moving forward for Partners Life is “IFAs 100%”.
While adding there was potential for the organisation to deliver good customer outcomes for Partners Life policy holders from other areas of Dai-Ichi Life’s global business, Yamashita also pointed out that policy holders in many other parts of the world could in turn benefit from the export of ideas, initiatives and other customer outcomes currently delivered by Partners Life to its New Zealand policy holders.
Yamashita also referenced the growth experienced by Australian insurer, TAL, which was acquired by Dai-Ichi Life in 2011, and which is now the country’s largest insurer.