New insurance products the business for advisers
"When we sent out invitations to the market we were inundated, over 1,000 people wanted to come to our roadshows" said Sovereign's chief distribution officer David Haak.
"What was also quite different was we actually released the products and then accredited advisers on the same day, so they had to make a commitment to spend a whole day with us, now normally you would probably lose half your audience once you've launched, they go off and train themselves, on this occasion 95% of the people stayed behind to be trained."
Haak said the research conducted by Sovereign before the launch of the Business Continuity and Rural Insurance products convinces him that a serious under insurance problem exists - creating opportunities for Sovereign and advisers alike.
"The independent research that we did showed that about 45% of New Zealand businesses had no insurance whatsoever, it's staggering, and 75% have no insurance cover on key people in their business."
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