Welcome to Partners Papers 15 - What we do and why...Issue 15
It is fair to say the reputations of many large Australian institutions have been severely tarnished with potential outcomes likely to be substantial fines and even criminal prosecutions.
You may also be aware that many of New Zealand’s banks and financial institutions are owned by Australian parents who are the subjects of the Royal Commission. Our own regulators, being the Financial Markets Authority and the Reserve Bank of New Zealand, have therefore commenced a process designed to satisfy New Zealanders that the systemic bad conduct identified in Australia is not happening here. Their process involves having companies demonstrate/prove to them how they manage to prevent poor conduct outcomes and/or deliver good conduct outcomes to their clients. While this has resulted in a substantial amount of additional work for our staff, I am personally very glad that we have been given this opportunity to fully explain ourselves to our regulators.
We are very proud of our company and what we have managed to achieve in such a relatively short time. In particular, we are incredibly proud of the value we deliver to our customers as well as the culture of our organisation. We have smart, ethical and compassionate staff delivering their very best to our customers – meaning our great results truly are all about the people.
If you would like to dig deeper into our business to better understand our conduct – i.e. what we do and why, we have provided a number of in-depth articles for you to read at your leisure.
The idea behind Partners Papers is for the Partners Life team to be able to talk to you about the workings of life insurance in general, as well as the philosophies unique to Partners Life. It provides us with a forum to answer customer questions, address customer concerns and explain why we do what we do. You will not find us advertising any products directly to you in Partners Papers.
We respect the relationship you have with your adviser and we understand that the decisions around which products are best suited to your needs and how much cover you need should be decided between you and your adviser. Instead we simply want to bring you up to speed with some of the detail around how life insurance products work which you may not otherwise be fully aware of, as well as sharing the stories of some of our clients with you and finally letting you know the role Partners Life is playing in our New Zealand community.
As each edition of Partners Papers is received by both long-standing customers as well as brand new customers for whom this edition is their very first, we would encourage you to check out the previous editions of Partners Papers, as you may just find we have already answered your questions in previous articles. Happy reading everyone.