Advisers: Extra benefits for clients welcome

Advisers say extra incentives for clients taking out insurance policies are welcome, but won’t sway their decisions about what to recommend.

Friday, May 4th 2018, 1:13PM

AIA has launched Airpoints for its customers. Clients earn one Airpoints dollar for every $100 of premium they pay on an AIA policy for eligible product. Until October 31, the offer is tripled.

Katrina Church, an adviser at Insurance People, said anything that was designed to offer a benefit to consumers was a good thing.

She said it would not affect her own recommendations to a client. “But it’s something as an adviser you should ask the question, would this be something that would be important to you?”

Alysha Mackenzie, an insurance adviser at Balance Advisors said she too would not be swayed by it. “I am more concerned about having the best policy, not a few Airpoints.”

She said it might be more of a driver in fire and general insurance. “I do sell AIA cover and some of their policies are awesome but Airpoints isn’t going to make or break the sale.”

Willowgrove personal insurance adviser Jon-Paul Hale said he would suggest that clients who wanted Airpoints pay their premium with an Airpoints-qualifying credit card instead. “It may not be at the same rate or given them double points but it would contribute to their loyalty scheme. To buy cover for the Airpoints seriously questions the commitment of the client to buying cover long-term and the reasons for the cover.”

David Savidan, head of marketing and product and acting head of distribution at AIA Nw Zealand, said the insurer had seen significant customer interest in the offer.

“We introduced our long-term partnership with Air New Zealand to advisers earlier this year with a bonus commission campaign, paid in Airpoints Dollars. That finished at the end of April.

“But this week’s customer offer is what we are particularly proud of,” he said.

“Our product offering is strong, with our most commonly-quoted package of life and trauma cover rated in the top three across all research houses, and with AIA’s core products in the top quartile. And we are always looking at ways to improve and enhance our products, to ensure our customers are getting the very most out of their insurance spend.”

Tags: AIA