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Russell Hutchinson
Auckland
I'm the principal the Chatswood Consulting Limited, live and work in New Zealand.
Interests: Family, financial services management consulting, living a good life in New Zealand. I love to read, run, work out, and soon I may admit to gardening.
Recent Activity
Knowing that there is a stand-down period, and advising the client who is buying the cover, is essential. It doesn't matter whether you are a financial adviser, or just a sales person, this fact is essential to the sales process... Continue reading
Posted yesterday at moneyblog
You can now have the Quotemonster report customised to your business to include your compliance documents, and make the report fit the order and structure of the advice process you have agreed with your compliance professional. In conjunction with Barry... Continue reading
Posted 2 days ago at moneyblog
Firstly, congratulations to the Code Committee members. You can check out at list over here, if you haven't already done so. While there will certainly be rewards for Code Committee membership, there is a strong service component to membership, and... Continue reading
Posted 2 days ago at moneyblog
The FMA has released a paper seeking feedback on a proposed exemption to allow robo-advice for personalised financial advice, on a class basis. You should go to this link to access the information made available. The paper has just been... Continue reading
Posted 3 days ago at moneyblog
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Face-to-face social interaction leads to a longer life - and probably more sales, but let's not worry about that just yet. Remember, nobody cares how much you know, until they know how much you care. So I would like to... Continue reading
Posted 3 days ago at moneyblog
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Many insurers seem to be worried about those things, but the best of them don't bother excluding them any more. You can find out which on Quotemonster. But if you are interested in risks, then you might want to flick... Continue reading
Posted 7 days ago at moneyblog
Unconscious bias is probably costing you money. Three processes will be responsible for most of the damage: marketing, face-to-face sales, and hiring people. For a crash course in how bias operates, even while it keeps itself hidden, I recommend the... Continue reading
Posted Jun 15, 2017 at moneyblog
We are often asked how common a drop in income is - because it helps inform the decision between Agreed Value, Loss of Earnings, and Indemnity income protection insurance. Well, it's quite common. Radio New Zealand has this piece which... Continue reading
Posted Jun 15, 2017 at moneyblog
Part of every adviser's toolkit should be good basic information for clients. Here's a guide to chemotherapy produced by the NZ Herald. Link. Continue reading
Posted Jun 14, 2017 at moneyblog
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Shifting Gears has a good profile of its recent event examining personalization of product at this link . Personalization based on data collected by internet of things (IoT) devices is likely to be a growing trend, and yet mostly insurers... Continue reading
Posted Jun 14, 2017 at moneyblog
Congratulations to Richard Klipin and AIA for a return to the FSC. More details at this link. We hope that the benefits of collective action, where that is possible will be realised. There are many areas which require collective approaches.... Continue reading
Posted Jun 13, 2017 at moneyblog
A good overview by insurance advisers BRAVEday on cyber security. Link. Continue reading
Posted Jun 12, 2017 at moneyblog
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The Financial Times has an excellent info graphic on the best data visualisations for different situations. We love data, and data visualisation here and so, we love this. You can download a high resolution version at the link above. Continue reading
Posted Jun 11, 2017 at moneyblog
Southern Cross set up a team of specialists ten years ago because they believed that ACC was wrongly turning down legitimate claims by policyholders, leaving the Southern Cross to pay the cost of treating them. 'The insurer said it scrutinised... Continue reading
Posted Jun 10, 2017 at moneyblog
Accuro has become the first health insurer in the world to offer a fully underwritten product with an entirely online application process. Intelligent Life is the company that developed the online application process that includes the ‘automated underwriting’. The process... Continue reading
Posted Jun 8, 2017 at moneyblog
200,000 page views is not actually that much when compared to all sorts of other sites, but it is quite a lot in the relatively small community of insurance professionals in New Zealand. Although there are thousands of registered entities... Continue reading
Posted Jun 7, 2017 at moneyblog
Increasingly smart chatbots are making headway in the simpler robo-advice applications. FP Money reported on a series of bots. These are typically text windows which allow a browser on the site, perhaps using the site's main planning tools to examine... Continue reading
Posted Jun 7, 2017 at moneyblog
My latest piece over at goodreturns - buying insurance cover for your adult children - is available here. Continue reading
Posted Jun 6, 2017 at moneyblog
ASIC has published a suggested draft Statement of Advice (SOA) for insurance recommendations. It is supposed to be short, if so, that's a sharp indictment of existing SOAs which must be a lot longer, as it is 27 pages of... Continue reading
Posted Jun 5, 2017 at moneyblog
Fitness trackers try to create a health dashboard, some things they are good at measuring and others, not so much. Here is a summary from Lifehacker which discusses a study of the relative strengths and weaknesses - it might suprise... Continue reading
Posted Jun 5, 2017 at moneyblog
There is a common social misuse of the word 'trauma' to apply to an emotional rather than physical event, but it really means, an actual injury from an external source. That's exactly the kind of thing ACC, and probably your... Continue reading
Posted Jun 3, 2017 at moneyblog
Goodreturns is producing video media to highlight issues of interest to advisers. Of the first three, the item on the changes to the financial advice law (contained in the draft Financial Services Legislation Amendment Bill) is a good watch for... Continue reading
Posted Jun 1, 2017 at moneyblog
Accenture has an interesting piece on robo advice. I have to say that I really dislike their insurance example - it looks so bad compared to the smart investment examples. Consumer robo-advice for insurance is much more complicated than it... Continue reading
Posted Jun 1, 2017 at moneyblog
This article from goodreturns encourages advisers to be good IT shoppers. The examples are mostly for investment advice businesses, but the principles are sound. For IT to serve your customers in the long-run it must also serve your business -... Continue reading
Posted May 31, 2017 at moneyblog
A day or two ago a friend introduced me to someone who had recently received an underwriting decision from an insurer. It was a deferral for five years. She told me her story and I thought it was worth referring... Continue reading
Posted May 31, 2017 at moneyblog