Everyone is telling us that there are a lot of lapses. Most reviews of the life sector say that there are some serious challenges: there are a lot of lapses and large numbers of people are uninsured, and not-great levels of new business.

As a data analyst working in the insurance sector, I have a great appreciation for the pivotal role that accurate and comprehensive data plays in our industry. Recently, the proposal by Statistics NZ to overhaul the traditional census and transition to an "admin data first" approach has sparked considerable debate.

We used to think that existing business was pretty much settled, underwritten, and done. We also liked to think that there was ample flexibility - a good, simple rule of thumb used to be that if a change did not increase risk for the insurers, then you could get that change without underwriting. In fact, the reasons why you may be underwritten again are growing.

Recently of our readers encouraged us to take a look at Hackt!cs, a game designed to teach financial literacy to young adults.

Recently of our readers encouraged us to take a look at Hackt!cs, a game designed to teach financial literacy to young adults.

Recently of our readers encouraged us to take a look at Hackt!cs, a game designed to teach financial literacy to young adults.

In the United Kingdom it has been found that 28% of adults with complex incomes are denied a home loan.¹

Russell Hutchinson asks: What’s missing from the life insurance picture and comes up with a good list.

As we approach a significant debate on whether insurance should be integrated into KiwiSaver, I personally feel we should shift our focus towards a more fundamental and engaging topic: the assessment of financial needs for one's entire life.

Russell Hutchinson looks asks whether artificial intelligence (AI) is a threat or a help to financial advisers.

The Financial Advice Association of Australia (FAAA) addressed a letter to the Australian Prudential Regulation Authority (APRA) concerning the Life Insurance Data Transformation consultation. What does this have to do with the New Zealand market? A lot, in fact. Australian regulation has been an exemplar, perhaps, of what not to do.

My favourite current quote is about averages. Something I picked up at MDRT recently: in one hand you hold a burning hot coal, straight out of the fireplace. In the other hand you hold a freezing block of ice, from a commercial deep freeze – very cold. On average you are fine!

Russell Hutchinson ponders what is more risky: Giving advice or making products.

This question started when I heard Tony Gribble talk about the value of the Million Dollar Round Table, or MDRT, at an adviser meeting recently.

The whole idea that there is a ‘map’ to life seems more appropriate for a spiritual discussion rather than a column on financial advice, but… we’re planning for the future and the concept seems seductive.

K-mart is an incredible place to shop – or better, try Walmart in the United States.