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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
Here is another approach to life sum insured calculation. I quite like the cut-to-the-chase simplicity of it, and the recognition of the practical implication of a low inflation/low return environment - the discount to the lump sum required to provide... Continue reading
Posted 8 hours ago at moneyblog
From the MBIE release: As you may be aware, the Government has decided as part of the review of the Financial Advisers Act 2008 that there will be a universal code of conduct which sets out the minimum standards of... Continue reading
Posted 9 hours ago at moneyblog
Tim Harford has written on insurance using the title 'what makes gambling wrong but insurance right?' The wide-ranging article then proceeds to tell some of my favourite stories about the origins of insurance. These are all great for engaging an... Continue reading
Posted yesterday at moneyblog
AIA recently announced a number of changes to pricing and product that were effective on the 13th of March. Pricing AIA have launched a new range of Level products - Life, Trauma, and TPD. Bundling discounts apply. Minimum term of... Continue reading
Posted 2 days ago at moneyblog
Checking out online financial planning sites I found this recently: verdiplus.com. This is a financial planning website with the look and feel of a new fintech venture. There is a lot of good solid financial planning type content. There is... Continue reading
Posted 2 days ago at moneyblog
Darryl Scott has been appointed to the position of National Sales Manager at Newpark Group. Congratulations to Darryl and Newpark. Continue reading
Posted 3 days ago at moneyblog
The New Zealand Criminal Law Review has an article by Andrew Geddis “The Case for Allowing Aid in Dying in New Zealand.” This thoughtful and detailed review of the subject may be useful to advisers faced with inquiries from clients... Continue reading
Posted 4 days ago at moneyblog
Results from an Australian study conducted by Roy Morgan have shown consumer satisfaction relating to life insurance have dropped. This article states that in year 2016 consumers were more satisfied with their home, contents, car and medical insurance than with... Continue reading
Posted 5 days ago at moneyblog
From the FMA media statement: "The FMA has filed charges against Garry James Patterson in the Christchurch District Court. The FMA alleges Mr Patterson was, or was holding out as being, in the business of providing financial services in contravention... Continue reading
Posted 6 days ago at moneyblog
"Context-based" is a relatively new concept for insurance which is commonly used in describing a category of insurtech innovations. Context-based comes in two types, one that doesn't work, and one that does. Risk pooling is essential to insurance. If you... Continue reading
Posted 7 days ago at moneyblog
People don't wake up caring about insurance. Making them care is our job, that is the subject of my latest piece at goodreturns. Link. Continue reading
Posted Mar 14, 2017 at moneyblog
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Quotemonster is celebrating a big uptick in usage, which means we passed a cool new milestone: 100 concurrent users. That means of about 3,500 to 4,000 possible users, of which about 2,000 are regular users, 100 were all doing quotes... Continue reading
Posted Mar 12, 2017 at moneyblog
I am both a data nerd and like to keep fit. So a fitness tracker - in my case a Fitbit - was kind of inevitable. I have worn one for about two years, and love it. But apparently the... Continue reading
Posted Mar 11, 2017 at moneyblog
The Royal Australasian College of Surgeons wants the New Zealand and Australian Governments to ban the use of quad bikes by children - thanks to Chris Keall for picking up on this one. There appears to be a combination of... Continue reading
Posted Mar 10, 2017 at moneyblog
Jenée Tibshraeny at interest.co.nz has written an excellent article on the issue of insurers underwriting people with mental health conditions. I think Tibshraeny does a great job of explaining the consumer position - even advocating for it - while explaining... Continue reading
Posted Mar 9, 2017 at moneyblog
Tamsyn Parker, at The New Zealand Herald, has this article on Suncorp's bid for TOWER and other restructuring news. Link. Continue reading
Posted Mar 8, 2017 at moneyblog
Everyone's doing it. Apart from the insurance industry... On either side of politics, from comics to consumer companies, from Donald Trump to JK Rowling. People are using social media to engage with their audiences. Even our stodgy old political parties... Continue reading
Posted Mar 8, 2017 at moneyblog
An interesting critique of passive management by Michael Gordon can be found at Investment News New Zealand. Link. Continue reading
Posted Mar 7, 2017 at moneyblog
Susan Edmunds reports on Stuff.co.nz that 'According to the Insurance and Financial Services Ombudsman New Zealand needs a law change to stop people "ruining their lives" by not disclosing relevant information to their insurers. It is believed that many cases... Continue reading
Posted Mar 7, 2017 at moneyblog
Tamsyn Parker's article at The New Zealand Herald is interesting: it asks us to imagine a world in which a quarter of the workforce are over 55, and 10% are over 65. This is remarkably both difficult and easy. The... Continue reading
Posted Mar 6, 2017 at moneyblog
I like that corporate New Zealand is trying to be a bit more inclusive. The sight of ANZ advertising their support for Pride, or BNZ publishing pictures of their LGBTQ staff involved with Pride week is good. A quick chat... Continue reading
Posted Mar 5, 2017 at moneyblog
Good, basic, financial information covering the insurance part of the financial literacy area is done well at Life-info.org.nz Continue reading
Posted Mar 4, 2017 at moneyblog
Newpark and IDS have a good newsletter to their advisers on the draft changes to the law, including a proposal for licensing 'product distributors' and labeling 'Financial Advice Representatives' as 'Financial Product Distributors'. Well worth a read. Link. Continue reading
Posted Mar 3, 2017 at moneyblog
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Partners Life has announced a new application option dramatically reducing underwriting requirements for advisers that use their new FastApp. FastApp cases are different to fully underwritten cases in that they include significant exclusions based on health, occupations, and pastimes. Continuing... Continue reading
Posted Mar 2, 2017 at moneyblog
Suncorp is backing an insurtech start-up that uses a chatbot to sell insurance for online transactions. Link. Continue reading
Posted Mar 2, 2017 at moneyblog