There’s already enough flexibility built into NZ life insurance products to accommodate the needs of the vast majority of my clients.
- Agree (66%)
- Disagree (30%)
- Not sure (4%)
Loading ...The recent release of Chubb Life’s new Moderate Trauma Cover option has prompted us to ask whether you believe sufficient flexibility exists within the current range of life insurance products available to Kiwi advisers and their clients.
Chubb notes it has expanded its range of trauma insurance solutions “…to offer more flexibility for customers and meet their evolving needs.” According to the insurer’s GM Strategy and Marketing, Simon Tohill, its new offer is “…giving customers greater choice in how they structure their protection to suit their needs and budget.” (See: Chubb Launches New Trauma Offer.)
Is this initiative by Chubb, intended to address areas including choice, flexibility and affordability, an example of product innovation you’d like to see occur more regularly? Or do you think the NZ advice sector already has access to sufficient product flexibility and diversity to meet the needs of the vast proportion of the clients your business serves?
For example, in addition to critical areas such as affordability, do you think the range of risk product offers can or should be more tailored to client needs and demographics which may include a focus on elements including:
- Gender
- Age
- Occupation
- Policy duration
- Coverage (range)
Life insurance product offers already incorporate some of these elements, but are you seeking greater tailoring and flexibility, if such solutions can be delivered in an affordable and sustainable manner?
Tell us what you think and we’ll report back next week…