Media release.
12 November 2024.
Fidelity Life has announced it wants to double in value in 10 years and unveiled a suite of new initiatives aimed at cementing the proudly New Zealand owned life insurer as the preferred partner for financial advisers and their customers.
Fidelity Life CEO Campbell Mitchell told the 175-strong audience of financial advisers at its Engage 2024 conference last week that growth is good for advisers, Fidelity Life and New Zealand.
“We know financial advice drives better outcomes for New Zealanders and that’s why we’re constantly investing in helping advisers grow their businesses.
“When advisers’ businesses grow, we grow, and that benefits New Zealand as a whole. It means more New Zealanders protected, more claims promises kept and paid, more flourishing advice businesses and more dividends for our local shareholders like the NZ Super Fund and Ngāi Tahu - all for the good of our New Zealand communities.”
“Growth is in our DNA and our ambition is to become not just a great life insurer but a great New Zealand company. Over the next 10 years we’ll grow by more than we have in our first 50, and double in value. What’s exciting is that this is a goal we can achieve together with advisers.”
In her address, Fidelity Life Chief Commercial Officer Bronwyn Kirwan reflected on how the company has bounced back from a challenging period.
“At Engage in 2023 we faced up to an uncomfortable truth: we were behind our competitors and not meeting advisers’ expectations. We made a commitment to listen to advisers, work together on changing things up, and get back in the game.
“12-months on, we’re pleased to say it’s working, with all the metrics, including new business, trending in the right direction. But we’re restless, we want to lead and win. There’s still a lot to do, and we’re excited to unveil a suite of new product, service and technology initiatives that we’ll roll out over the coming weeks and months, all aimed at getting more New Zealanders protected and driving growth for advisers’ careers and their businesses.
“Our message to advisers is ‘we’re open for business.’”
Amongst the new initiatives announced at Engage 2024, the biggest crowd pleasers were an innovative premium discount for material exclusions, product enhancements, the latest E-App upgrade, and significant new additions to the Adviser edge professional development programme.
Premium discount for material exclusions.
In a market-first for New Zealand, a premium discount for defined exclusions will be trialled on trauma covers in the coming months. The discount means customers only pay for the risk their policy covers them for. If the exclusion is removed in future, the discount will drop off, reflecting the customer’s ability to make a future claim for the condition.
Product enhancements, including a new specific injury cover.
New enhancements across Fidelity Life’s Platinum Plus, Platinum Plus Level & Mortgage Protector products go on sale in November. These include lump sum cover enhancements designed to provide more choice, greater accessibility and better value across all life stages: new life, through life, and end of life.
A new specific injury cover will be launched at the same time, which pays out a lump sum for 30 defined injuries, providing advisers and customers with a simpler, lower-cost protection option.
Making doing business even easier with E-App ‘share’.
E-App’s latest upgrade goes live later this month. The new ‘share’ feature will enable advisers to send a link to their customers, allowing them to complete all or part of the application on their own, making the process even more efficient. Advisers will be able to monitor customers’ progress, ensuring a more streamlined and transparent process for both parties.
Adviser edge: powering up advisers’ professional development.
Significant new additions to the Adviser edge programme include: an invitation-only overseas study tour which will equip advisers with the latest insights and strategies to help deliver better outcomes for their customers; and new practice manager masterclasses for admin staff to improve workflow and productivity, freeing up advisers to focus on their customers.
Priority support: Grow Together programme.
Coming in early 2025, the invitation-only Grow Together programme will provide dedicated, prioritised support across key areas including new business, underwriting, and retention.
For details on the full range of initiatives announced at Engage 2024, and to submit an expression of interest in joining Fidelity Life’s Adviser council, advisers should visit Fidelity Life’s Adviser hub or contact their Fidelity Life Business manager.
Fidelity Life, New Zealand's largest locally owned life insurer, proudly announces a suite of significant enhancements to its life insurance offerings, delivering more choice, greater accessibility, and better value across all life stages - New Life, Through Life, and End of Life.
Fidelity Life is delighted to announce the appointment of Scott Pickering as chair of its Board of Directors effective 1 January 2025.
Fidelity Life is proud to announce that its Information Security team has been awarded the prestigious Security Team of the Year at the 2024 iSANZ Awards.
Fidelity Life is celebrating the winners of its coveted Adviser awards, presented during the finale of Engage 2024 – Growth for good, the life insurer’s annual conference for financial advisers which took place on 6-7 November in Auckland.