Customer engagement initiative 2024 - FMG Terms and conditions.

Fidelity Life Assurance Company Limited (“Fidelity Life”) wishes to offer the top advisers who sign up to the initiative the opportunity to qualify for our Customer engagement forum  2024 on the terms and conditions contained below. 

1. Customer Engagement

1.1 At Fidelity Life we recognise the importance of customer feedback on our products and service. The customer engagement survey (carried out using the NPS methodology) is just one way that we gauge customer satisfaction. We feel that it is important to capture and share with our financial advisers our customer’s views on whether the financial adviser is meeting their needs and expectations. This is in line with our aspiration to work with financial advisers to deliver good customer outcomes. We therefore are offering this Customer engagement initiative 2024 to enable us to share Customer feedback and to acknowledge our financial advisers who deliver great customer outcomes. 

1.2 The following definitions apply to these terms and conditions:

2. What is the Customer Engagement Initiative 2024?

2.1 To recognise good customer outcomes, at the end of the Qualifying Period (as defined below), we will invite three(3) of our Qualifying FMG Advisers of our Qualifying financial advisers (and their partners) with the highest collated Customer engagement Scores to attend the Customer engagement Forum 2024 (the “Forum”) alongside 25 of our retail advisers and their partners, subject to these terms and conditions

2.2 During the Qualifying Period, we will survey each New Customer (who has provided their email) when a policy is issued and each Renewing Customer (who has provided their email) when a policy is renewed.  

In surveys we ask Customers the following question: 

• How likely would you be to recommend your adviser to others? (0 to 10 scale; 0=not at all likely, 10=very likely 

2.3 We will use the Customers’ responses to the above question to collate the Customer Engagement Score for that adviser. 

3. Customer Engagement Forum 2024

The invitations will be issued at our sole discretion and the number may change. Our decision is final, and no correspondence will be entered into. All financial advisers must have approval from their Financial Advice Provider to be eligible to take part in this initiative. 

3.1 Invitations will be issued by 8 August 2024 to the three (3) Qualifying Financial advisers (plus partner) who achieve the highest Customer engagement scores. The partner must be the Qualifying Financial advisers’ spouse/ partner or business partner. All guests must be at least 18 years old. The invitation is not transferable. 

3.2 The top three (3) Qualifying financial advisers (who met the criteria below in 5.2) with the highest Customer Engagement Scores (“Invited Qualifying Financial advisers”) may receive: 

• Two return economy class flights from their nearest airport to Kerikeri on an airline of our choosing. (If the nearest airport is within two hours, the Qualifying financial adviser will be asked to drive but will be reimbursed travel expenses). 
• Two night’s accommodation, including tax and service charges, at Kauri Cliffs. 
• Meals and beverages as stated in the Customer engagement initiative 2024 Itinerary; and 
• All special events specified in the Customer engagement initiative 2024 Itinerary. 

3.3 An Invited Qualifying financial adviser will not receive (and the Invited Qualifying financial adviser will be personally responsible for): 

• Upgrades to any flights; or 
• Meals, beverages and activities that are not specified in the Customer engagement initiative 2024 Itinerary. 

3.4 The Invited Qualifying financial adviser is solely responsible for: 

• Obtaining travel and/ or health insurance; and 
• Any extensions onto, or variation of, the Customer engagement initiative 2024 Itinerary, including additional flights or changes to flights (including name changes which attract charges) or accommodation. 

3.5 Please note that the Forum content or location or any other part may change at our sole discretion. 

The Details:

4. Qualifying Period

The qualification period for the Customer engagement initiative 2024 is  from 9.00am on 1-April 2024 until 5.00pm on 31 July 2024 inclusive (“Qualifying Period”). All Customer Engagement Surveys completed during the Qualifying Period will be used to establish the Customer Engagement Score regardless of when the Adviser registered for the Customer engagement initiative 2024.  

5. How does an Adviser register to participate in the Customer Engagement Initiative 2024?

5.1 To register for the Customer engagement initiative 2024, each financial adviser must: 

• • have an FSP number and a current Agency Agreement with us during the qualification period. 
  • have a current account debt of less than $10,000. 
  • have no outstanding action items either from a customer dispute lodged with the financial adviser’s or Financial Advice Provider’s disputes resolution provider; or from an audit undertaken by the FMA. 
  • complete the Customer engagement initiative 2024 Registration Form which is received by Fidelity Life no later than 17-May 2024. 

5.2 At the Closing Date, a financial adviser must have had a minimum of 5 survey responses to qualify for consideration to participate in the Forum.

6. What happens during the Qualifying Period?

6.1 During the Qualifying Period, for each financial adviser, Fidelity Life will: 

• • Send surveys to all New Customers and Renewing Customers (who have provided email addresses). Financial advisers may encourage their Customers to complete the survey but may not complete it for them or provide any pressure. Only fully completed surveys will be accepted and considered as part of the Customer Engagement Score; and 
  • Advise the Registered financial adviser at the end of each month of their current Customer Engagement Scores for the preceding month. 

7. What happens at the end of the Qualifying Period?

7.1 On the Closing Date of the Qualifying Period, Fidelity Life will review all Registered Financial advisers to determine that they have met the minimum criteria to become a Qualifying Financial adviser for the Customer engagement initiative 2024 (as set out in clauses 5.1 and 5.2) and are therefore “Qualifying Financial advisers”. 

• Provide FMG a report on the Customer Engagement Scores for every registered FMG Adviser for the Qualifying Period, along with additional applicable comments. 

7.3 In assessing Customer Engagement Scores, the following will apply: 

• We will not include Surveys relating to policies for the financial adviser’s life, the life of the financial adviser’s partner, children, siblings or parents; and 
• All Surveys must relate to policies that are completed and will be net of any policy cancellations, 14-day free-looks, decreases and lapses. 

7.4 Fidelity Life will then invite the Qualifying Financial advisers with the highest Customer Engagement Scores (as calculated above) to the Forum.  In the event that two Qualifying Financial advisers have the same Customer Engagement Scores, the Qualifying Financial adviser with the greatest number of Customer respondents will be chosen. 

8. General

8.1  The metrics used for calculating the qualification criteria will only be based on the business submitted or serviced by that adviser in the relevant period. 

8.2 By registering to be part of Fidelity Life’s Customer engagement initiative 2024, each financial adviser agrees to these terms and conditions. 

8.3 Fidelity Life reserves the right, in its total discretion, to alter any aspect of the Customer engagement initiative 2024. This includes, but is not limited to, whether the Forum is continued in any form or at all. Fidelity Life’s decision will be final, and Fidelity Life will be under no obligation to pay any compensation to any Adviser. 

8.4 The invitation to the Customer engagement initiative 2024 is not transferable nor can it be exchanged for cash or alternative awards. 

8.5 All parties acknowledge that a Customer Engagement Score is a subjective measurement. Whilst Fidelity Life will take all reasonable efforts to ensure the accuracy of the Customer Engagement Scores, a margin error will apply. Fidelity Life is not liable in any way for any errors that do occur. 

8.6 If an Invited Qualifying Financial adviser accepts two places on the Customer engagement initiative 2024 (for themselves and partner), but later cancels attending part or all of the programme, then: 

• If an airline ticket has been issued, any cancellation fees imposed on Fidelity Life will be forwarded to the financial adviser for payment. 
• Any accommodation that has been prepaid and is non-refundable to Fidelity Life will be forwarded to the financial adviser for payment. 

Fidelity Life may seek repayment or deduct the amounts from the commission due from Fidelity Life to the Financial adviser. 

8.7 If the Invited Qualifying financial adviser cancels (for any reason) Fidelity Life is under no obligation to offer an alternative programme or benefits. 

8.8 Fidelity Life reserves the right to refuse to or withdraw any individual financial adviser from the Customer engagement initiative 2024 at any time without any compensation. 

8.9 Fidelity Life will not be liable to any person for any loss, damage or liability arising from, or in conjunction with, the Customer engagement initiative 2024. 

8.10 Fidelity Life reserves the right to exercise its discretion with respect to all aspects of the Customer engagement initiative 2024 and its decision in all matters will be final.