Welcome to Partners Papers 15 - What we do and why...

Issue 15



Welcome to Partners Papers 15 - What we do and why...
You may be aware that there is currently a Royal Commission investigation being undertaken in Australia into the conduct of the Financial Services Industry. The results so far have been pretty damning about the behaviour of both banks and other financial institutions towards their customers.

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.

 

Kindest regards

Naomi signature

 

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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.

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Return to blog home

Other related articles in Partners Papers

Partners Life and you!

Partners Life and you!

We’re called Partners Life for a reason: your policy with us is much more than a piece of paper, it’s a partnership. That partnership is the foundation of everything that happens between us and is important throughout the course of your policy, from your first discussions with an adviser, through changes in your life or career, and when we support you in making a claim.

Being fair when it counts!

Being fair when it counts!

There are many moving parts to an insurance company with each one of the different departments performing their own crucial role. Undoubtedly though, from a client perspective, none is more critical than Claims. The entire lifecycle of a policy – from initial sale to year-on-year servicing – are all in anticipation of the moment you need to claim on your policy.

Nothing to worry about...

Nothing to worry about...

Having always led a reasonably healthy lifestyle and having never really had a serious health condition, Joy was surprised to notice a small black spot on the left side of her neck. The spot turned up overnight and was about the size and colour of the tip of a black felt-tip pen. Even though the spot was small, Joy knew it was best to head to the doctor to get it checked out, particularly having spent a lifetime in the New Zealand sunshine.

Financial adviser conduct

Financial adviser conduct

Conduct is a term we in the financial services industry are very familiar with. Partners Life is a business built on the foundation of doing the right thing for customers and delivering market leading outcomes wherever possible. Financial advisers who work with Partners Life are hand-picked for their experience, ethics and historical conduct – advisers we know can deliver the best advice and the best results for customers.

The people at Partners Life

The people at Partners Life

Here at Partners Life we aren’t just insurance market leaders – we are also committed to be a market leading employer as well.  After all, the better we look after our staff, the better they can look after you!

Insurer conduct in Product Design

Insurer conduct in Product Design

As a Kiwi-owned and operated company, we have consistently sought to ensure that everything we do is aimed at meeting the insurance needs of Kiwis. Since opening our doors, we have always assumed an approach which we feel represents substantial value for our clients.

Give us feedback and be in to WIN...

Give us feedback and be in to WIN...

It’s nearly the festive season and what better way to celebrate than by enjoying a Christmas Hamper worth $500!!