Welcome to On Point for October. Can you believe it’s only two months until Christmas?
Last week marked a historic milestone with the first ever Customer Engagement Forum being held in Te Anau. NPS surveys were sent out to both new and existing customers for the period of March through to June, where we sought to understand how customers rated their advisers and how well they understood their policies. Using the criteria set for the initiative, 30 advisers with excellent customer feedback were invited to join us.
A highlight of the forum included the presentation of the Cary Veenhof trophy. As many of you know Cary’s focus on customer service was one of his many qualities, and we were extremely proud to award the Cary Veenhof trophy to the adviser with highest NPS result. Congratulations again Brett and Niki Stonham for taking out these honours. Their focus on putting the customer first in everything they do has shown through in their results.
We also presented the Gordon Watson trophy to Ross Fowler. As many of you know Ross and his wife Liz dedicate a lot of their time back to supporting their local community through a number of initiatives and it was great to celebrate their success also.
From 1 November 2020, we’re introducing some changes to our Terminal Illness Booster Cover which are intended to increase certainty and clarity. The first change is removal of the limitation of having to survive 30 days post claim notification, instead the insured person must survive 30 days from the date of diagnosis.
We’ve also changed the definition of ‘Terminal Illness’ (TI) to align with the definition of TI in our Life Cover
Terminal Illness Booster Cover – the new cover wording will apply to all cover issued from 1 November 2020. The new cover wording will be available on Adviser Hub from 1 November 2020. For those using Apollo web, it’ll be automatically updated for you. If you use Apollo desktop the new wording will be available after the December release.
Changes in detail
The following will be removed:
Limitations
If death occurs to an insured person within 30 days of the date of notification of the claim under this Terminal Illness Booster Cover or if the insured person survives that period or part of that period solely as a result of being dependent on life support systems, then no payment will be made under this cover for that insured person unless the insured person survives 30 days after the life support systems are removed. We will not pay a claim if you notify us after the date of the death of the insured person.
And instead the words in italics added to the Benefit section:
If an insured person is:
we will pay the Terminal Illness Booster Cover sum assured. The sum assured is 25% of the life assurance sum assured up to a maximum of $500,000.
The definition of terminal illness also changes to:
An illness where, after considering the current or future treatment the insured person would be reasonably expected to receive, he or she is likely to die within 12 months. The specialist medical practitioner treating his or her condition must certify the diagnosis and prognosis of the terminal illness. Another specialist medical practitioner nominated by us must confirm the diagnosis and prognosis.
This is the same TI definition used in our Life Assurance Cover.
For any claims on Terminal Illness Booster Cover arising after 1 November 2020 for an existing customer, their claim will be assessed on the basis of whichever wording is more favourable for your customer.
Want to use our logo on your website?
We know many of you like to use our logo on your websites and in other marketing material, and we want to make it easy for you to keep doing this.
We also want to make sure you’re using our current logo – you might recall we refreshed our brand in March this year. You can now request our logo, and download a set of simple guidelines which explain how to use it.
Our brand is really important to us so if you’ve got any questions – in particular if you want to place our logo alongside yours (co-branding) – please get in touch with Meagan Tuckerman, our Head of Marketing and Digital.
We’ve just released our FY20 results and, one year into our five-year transformation strategy, things are looking good!
The fact we’re on track with our transformation, maintained our customer and adviser service levels despite Covid-19, and consolidated our strong financial position – all while navigating an extremely complex environment - is something we’re very proud of.
Here’s the highlights:
Looking ahead, we’ll continue to invest in our transformation while managing economic uncertainty and protecting our capital.
For advisers, over the coming months we’ll be upgrading Apollo, eApp and Adviser Centre to provide a richer digital experience including improved reporting and insights; and introducing a new commission framework which will reward you appropriately under the new regulatory environment.
Plus we’ll continue to invest in helping you make the transition to the new financial adviser licensing regime.
See our 2020 Annual Report for full detailsCongratulations to all of you who’ve completed the current modules, we’ve had some great feedback so far. Remember – it doesn’t take long to get your accreditation up to date and you can dip in and out of the modules to suit your schedule!
If you haven’t completed them yet, we’d encourage you to put some time aside to get them done – visit learning.fidelitylife.co.nz or check out the guide to get started. Our Product Training Manager, Leigh Bennett is also available to help 021 278 1491.
We’ll be releasing the next round of modules soon, so keep an eye out!
A reminder to continue reaching out to customers to understand whether they're concerned about paying premiums due to the impacts of Covid-19. We have some options available to help them keep their policies in place:
That’s all from us this month!
As we near the end of 2023, we’re not slowing down with our commitment to deliver new features, clear communication and improved service for you and your customers. In this issue you can read about our brand-new Working together guide, register your interest for Adviser edge, see our new transparent turnaround times and more. This is your November update.
As we near the end of 2023, we’re not slowing down with our commitment to deliver new features, clear communication and improved service for you and your customers. In this issue you can read about our brand-new Working together guide, register your interest for Adviser edge, see our new transparent turnaround times and more. This is your November update.
With Engage 2023 (and all its exciting announcements) in the rear-view mirror, we hope one thing is clear: we’re lifting our game for you. We’re committed to doing better by you, our adviser community – now it’s time for us to deliver. In this issue we’ll be highlighting some of the steps we’re taking to make your life easier. You can read about our range of new adviser-first features, learn more about Adviser edge, and see us stick to our promise of showing you service turnaround times. This is your October update.
This month we’re celebrating our inaugural Career connect graduates, reflecting on our first year of sponsorships, and bringing you some key news from around the business. This is your August update.