Engagement with Fidelity Life’s reinvigorated proposition for Kiwi advisers and their clients has gained momentum following a highly positive reception from advisers at the insurer’s Engage 24 conference delivered in Auckland last week.
The insurer unveiled 19 announcements across a range of areas, all of which were presented within the context of its ‘Growth for Good’ theme that informed the nature and context of this year’s event.
Critical ingredients giving purpose to the approach taken by Fidelity Life in re-engaging with the adviser community and their clients include:
- Acknowledgement 12 months ago of “…an ‘uncomfortable truth'” that the insurer had lost touch with advisers and what was important to them and the clients they serve
- Focussing on the flow-on benefits associated with Fidelity Life being the only locally-owned life insurer, leading to…
- The approach that growth is a collective behaviour: “When we grow, New Zealand grows”
- Ease of doing business
- Setting a plan to double the value of the business in ten years
The two-day conference featured a diverse collection of external industry and community presenters, each of whom shared messages of relevance to their adviser audience.
One of the striking takeaways from the event, however, was the quality of the presentations shared by Fidelity Life personnel (not all of whom were public speaking experts) and the confidence with which they were delivered – from its CEO, Campbell Mitchell and senior execs including Bronwyn Kirwan, Niall McConville and David Winspear to other key managers across the business variously responsible for product (individual and group), technology, distribution and adviser engagement, new business, underwriting, claims and marketing.
19 Announcements
The 19 announcements shared at the conference were delivered across seven categories of product and service for both advisers and clients, including:
- New product enhancements
- Making it easier to do business
- Group solutions
- Backing your professional development
- Fidelity Life Adviser Council
- Investing in the adviser channel
- New Zealand growth story
Material Exclusion Discount
One of the product enhancements was deemed sufficiently important by Fidelity to merit its own eighth announcement category, namely the piloting of a material exclusion discount proposition, which offers premium discounts in the event of exclusions being applied to the insurance offer.
The pilot applies to a limited set of exclusions within a single product category, the outcome of which will inform the potential for this initial pilot proposition to be extended (see: Industry First Premium Discount Offer).
Business Value
Taking centre stage at a number of moments during Engage 24 was the stake-in-the-ground ambition that Fidelity Life would seek to double the value of the business within the next ten years, on its way to becoming one of the iconic NZ-owned companies.
This long-term goal appears to be an ambition shared by all Fidelity Life personnel and one which seems to have been positively received by the advisers during the two-day event.
Advisers Recognised
The conference concluded with an event at which the contributions made by advisers and key Fidelity Life distribution colleagues were recognised (see: Fidelity Life Celebrates Adviser Awards Winners).
Riskinfo will report further details relating to the 19 announcements in the coming weeks, including how advisers can contribute to the re-setting of the future Fidelity Life agenda.
