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Life Insurance in Hot Demand

Insurance talk — Sat, 19 Dec 2009 00:20:51 +0000

Demand for Life insurance has increased significantly over the past two years. According to Investment Savings and Insurance (ISI) statistics, sales of new term life, total and permanent disability, trauma and disability income policies were up 39 per cent to 51,081 in the year to the end of September compared to two years ago.
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Market experts believe the rise is attributed to mortgage and investment brokers starting to move into the sector and insurance brokers making more sales. Most people don’t think about risk during the “Good times” but with the recession taking hold, many people tend to think more about job security, investments and general their finances.

2009 Insurance Awards

Insurance talk — Thu, 12 Nov 2009 07:15:15 +0000

Recently, at the Sky City Convention Center, the 2009 Insurance Awards took place by way of a swanky gala dinner. Every year insurance brokers from across the country compete for the prestigious title of being the best in their field. Although we don’t usually like mention the “Competition”, this is for a good cause and credit is due!

Congratulations to all the winners who continue to raise the bar. Well done!

The winners:

Support Services to the Industry – Smith & Smith

Insurance Investigator of the Year – Ron McQuilter (Paragon)

Innovation of the Year – Crash Brokers

Broking Office of the Year – Rothbury Group Ashburton

Insurer of the Year – Vero

Young Professional Broker – Deane Moyle (Aon NZ)

Young Professional Insurer – Andrew Pook (Zurich)

Loss Adjuster of the Year – Stephen Kay (Cunningham Lindsey)

Insurance Professional of the Year – Roger Bell (Vero)

Broker of the Year – John Blackmore (CFS Risk Services)

Working in the insurance industry

Insurance talk — Sun, 11 Oct 2009 22:26:00 +0000

Have you ever considered working in the insurance industry? With the tough economic conditions, there are many qualified people out there but can’t find a job in their industry. If this is you, perhaps you should consider becoming an insurance broker. Government website Careers.govt.nz believes the insurance industry has a positive outlook because there is a growing need for insurance from New Zealanders. Increased public awareness of the need for insurance, as a result of frequent news coverage of the insurance industry and other factors, may lead to greater opportunities for insurance representatives.

Generally, Insurance representatives need to have the following skills however, it’s not always a necessity:

knowledge of the insurance industry
knowledge of insurance policies, including what each policy covers
an understanding of relevant government policies such as tax requirements, benefit allowances and accident compensation
sales skills
good communication skills, including interviewing skills
organisational, planning and time management skills.

Most insurance representatives employed by companies are paid a salary plus commission, however some insurance representatives work on a commission-only basis.

Customer service officers may earn $35,000 to $40,000 a year in Auckland, or $30,000 to $40,000 a year in Christchurch and Wellington
Telesales consultants may earn $35,000 to $50,000 a year in Auckland, or $33,000 to $38,000 a year in Christchurch and Wellington
Team leaders may earn $50,000 to $75,000 a year in Auckland, or $45,000 to $55,000 a year in Christchurch and Wellington
Client services managers may earn $70,000 to $90,000 a year in Auckland, or $55,000 to $75,000 a year in Christchurch and Wellington
Business development managers may earn $80,000 to $120,000 a year in Auckland or $60,000 to $80,000 a year in Christchurch or Wellington.

For more information on becoming an insurance representative, visit the careers.govt.nz website.

What is SNAP?

Insurance talk — Mon, 28 Sep 2009 02:01:48 +0000

Police recover thousands of dollars worth of stolen property each year however, many items cannot be returned. Why is this? well, it’s because people don’t record the serial numbers or mark the property so it can be identified as belonging to them. Why is this important to you? Apart from the obvious benefit of receiving your stolen goods back , some insurance companies waiver the no claims excess for clients who are able to provider serial number records when they report a loss.

To read more about the Serial Number Action Project (SNAP) visit the Neighbourhood Support NZ website or create your own property record by downloading a form here

Welcome to the My Insurance Guide Blog

Insurance talk — Sun, 13 Sep 2009 09:14:26 +0000

For most people, insurance is a boring financial requirement that we all must own. The My Insurance Guide Blog is a lighthearted look at an industry that is typically known for its cardigans, knee high socks and roman sandals.