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 purpose of Partners Papers is so the team at Partners Life can talk to you about the inner workings of life insurance, and the philosophies unique to Partners Life. It provides us with a forum to answer customer questions and concerns, and explain why we do what we do. You won’t find any products being advertised in Partners Papers.
We understand that the decisions about which products are best suited to you, and how much cover you require, is between you and your adviser, and we respect that relationship. We simply want to bring you up to speed with how life insurance products work and share the stories of some of our clients. We also want to show you what Partners Life has been up to out there in the community.
Each edition of Partners Papers is sent to both long-standing customers along with new customers, and we would encourage you to check out earlier editions as we may have answered any questions you might have in previous articles. Happy reading everyone!