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An update from David Haak

August 2023

While we’re all looking forward to the cold weather departing, we haven’t seen any cooling off when it comes to the amount of activity out there in the market. 

Pleasingly, despite the current climate, we’re seeing an increase in new business with applications being well up on this time last year. While New Zealanders are tightening their belts, it’s reassuring to see the importance of financial protection is being realised, especially with many people facing mortgage rate hikes. 

Your feedback on our premium pricing structure has been extremely positive and I’m delighted to report over 30% of new business submitted includes our 10% Lifetime Reward - which reflects how many New Zealanders are in control of their health and wellness. 

If you haven’t yet built in our 10% Lifetime Reward and Multi-benefit discount offers into your customer conversations, reach out to your Business Partnership Manager (BPM) about how to make the most of these benefits. Presently, a stronger focus is being placed on price and affordability, so now’s the time to take advantage of our enhanced pricing and campaigns. 

I’d also encourage you to look at the Quote Monster tool which reflects our competitive price positioning.

To support you with our new products and benefits, we’re offering an ongoing programme of training events at all Adviser levels including Chubb Life Masterclasses over the next few months. The first held in late August will be a Chubb Life Marketing Masterclass, followed by a Chubb Life Underwriting Masterclass a few weeks later. Stay tuned for enrolment details.

Thanks to the 450+ Advisers who recently participated in the Adviser survey. Implementing project teams in the areas cited where we needed improvement has already commenced with particular focus on our communication channels, reporting and response rates.

You also told us one of the areas we could improve is our business and agri product range. Since the launch of Assurance Extra Business it’s exciting to note a 300% increase in new policies. Also – many thanks to all those who’ve completed the accreditation and if you’d still like to, please get in touch with your BPM. In addition, we’ll continue to support with training and helpful tips in our monthly Adviser newsletter updates.

Thank you for your continued support and partnership. I hope you stay warm and dry and that spring blossoms for us all very soon.

Ngā mihi nui

David Haak
General Manager – Distribution