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Ksenia Stepanova
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Insurance
[GRTV] AIA talks affordability, products and AI
Tuesday 26th of August 2025
... <div> <div class="paywall mb-5"> <div class="box gradient-top"> <div class="paywall__content sticky-bottom"> <div class="paywall__content__title"> Want to read the full article? </div> <div class="paywall__content__description"> <p>Click the button below to subscribe and will have free unlimited access for a limited time to full article and all other articles on the site.</p> <p>You will also be able to comment on articles on <i>Good Returns</i>.</p> </div> <div class="paywall__content__cta"> <div class="mb-3"> <a href="https://goodreturns.co.nz/login?redirect_article=grtv-aia-talks-affordability-products-and-ai" class="btn btn-primary btn-lg">Sign in</a> </div> </div> </div> </div> </div> </div> </div> <div class="related-articles"> </div> <div class="other-articles pe-lg-5"> <div class="mb-4 d-flex justify-content-between gap-3"> <a href="https://goodreturns.co.nz/article/insurer-dobs-in-adviser" class="btn btn-primary"> <i class="fa-solid fa-arrow-left me-2"></i> Previous Article </a> <a href="https://goodreturns.co.nz/article/insurtech-raises-3mill-to-help-insurers-transform" class="btn btn-primary"> Next Article <i class="fa-solid fa-arrow-right ms-2"></i> </a> </div> </div> </div> <div class="col-sm-12 col-md-3 col-lg-3"> <div class="sidebar-right"> <div class="latest-news-sidebar mb-3"> <div class="title-section mb-3"> <span class="colored-title small">Latest News</span> </div> <div class="sidebar-body"> <div class="mb-3"> <hr> <div class="news-card news-card-small"> <div class="row g-3"> <div class="col-4 order-1"> <a href="https://goodreturns.co.nz/article/koura-reports-another-loss"> <div class="news-card-image"> <img class="img-fluid" src="https://goodreturns.publit.io/file/c_fill,w_300,h_200/2c5a6636-8da4-430e-a5c2-2e3d34783fc6.jpg" alt="Koura reports another loss"> </div> </a> </div> <div class="col-8 d-flex flex-column order-0"> <div class="d-flex align-items-center flex-grow-1"> <a href="https://goodreturns.co.nz/article/koura-reports-another-loss"> <div class="news-card-headline line-clamp-2"> Koura reports another loss </div> </a> </div> <div class="news-card-read-time mt-2"> 1 min read </div> </div> </div> </div> </div> <div class="mb-3"> <hr> <div class="news-card news-card-small"> <div class="row g-3"> <div class="col-4 order-1"> <a href="https://goodreturns.co.nz/article/can-ai-pick-the-best-kiwisaver-provider"> <div class="news-card-image"> <img class="img-fluid" src="https://goodreturns.publit.io/file/c_fill,w_300,h_200/0eb8322b-727c-4cac-b3ac-a197ba93b0e5.jpg" alt="Can AI pick the best KiwiSaver provider?"> </div> </a> </div> <div class="col-8 d-flex flex-column order-0"> <div class="d-flex align-items-center flex-grow-1"> <a href="https://goodreturns.co.nz/article/can-ai-pick-the-best-kiwisaver-provider"> <div class="news-card-headline line-clamp-2"> Can AI pick the best KiwiSaver provider? </div> </a> </div> <div class="news-card-read-time mt-2"> 4 min read </div> </div> </div> </div> </div> <div class="mb-3"> <hr> <div class="news-card news-card-small"> <div class="row g-3"> <div class="col-4 order-1"> <a href="https://goodreturns.co.nz/article/weekly-wrap-what-we-know-and-dont-know-about-labours-retirement-policies-plus-a-potential-surprise"> <div class="news-card-image"> <img class="img-fluid" src="https://goodreturns.publit.io/file/c_fill,w_300,h_200/0f624427-b59f-4edd-9d7e-85e179ac1599.jpg" alt="[Weekly Wrap] What we know, and don't know, about Labour's retirement policies. 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Clearly it would be prudent for an adviser to assist once given clear information by an insurer to assist with the communication but to extend this further. For an insurer to attempt to slide this onto an advisers plate is abdication. The adviser can not change the contract. </div> </a> <div class="read-time">1 week ago Darryl Scott</div> </div> </div> <hr> <div class="comment d-flex"> <i class="fa-regular fa-comments me-3"></i> <div class="latest-comments-text"> <a href="https://goodreturns.co.nz/article/fma-ceo-on-leave#comments"> <div class="h6">FMA CEO on leave</div> <div class="small line-clamp-2"> At the risk of sounding like a broken record, the fundamental flaw in the legislation came about partly through the event that Murray mentions, and also through the negligence of the Select Committee in ignoring the single most cited recommendation in all the submissions (over 34% from memory) of drawing a distinction between product sales and financial advice. To add to their misdemeanour, the Committee then added a paragraph to the Bill confirming that recommendation of one product only constituted financial advice - or words to that effect. The inherent conflict of interest lies in an individual retained by a Class 4 licensee being required to adhere to a code of conduct that requires prioritisation of client interests. To expect a product sales person to subordinate their contractual obligation to their employer is unrealistic, unworkable, and unreasonable. To emphasise, I have no issue with a product provider marketing and selling their own products - but not behind the opaque veil of legislation intended to govern financial advice. If MBIE ever gets around to review FSLAA, Financial Advisers, FANZ, and all other interested stakeholders should mount a fully-funded intensive campaign to persuade our employees in Wellington to remove class 4 licensees from FSLAA, and replace their obligations within an amended CoFI Act. </div> </a> <div class="read-time">2 weeks ago David Whyte</div> </div> </div> <hr> <div class="comment d-flex"> <i class="fa-regular fa-comments me-3"></i> <div class="latest-comments-text"> <a href="https://goodreturns.co.nz/article/fma-ceo-on-leave#comments"> <div class="h6">FMA CEO on leave</div> <div class="small line-clamp-2"> @Murray: The reps seemed to be acting on their personal interests rather than the interests of advisers. Conflict of interest, isn't it? </div> </a> <div class="read-time">3 weeks ago w k</div> </div> </div> <hr> <div class="comment d-flex"> <i class="fa-regular fa-comments me-3"></i> <div class="latest-comments-text"> <a href="https://goodreturns.co.nz/article/kiwisaver-funds-shake-off-middle-east-tension#comments"> <div class="h6">KiwiSaver funds shake off Middle East tension</div> <div class="small line-clamp-2"> In this recent presentation of mine https://www.knowrisk.co.nz I show that the average Balanced KiwiSaver fund has added approximately +0.43% over and above the gross average policy Benchmark's return's. However, the averge annual costs of -0.97% for Balanced funds have eroded that to be slighly below BMK after costs consistent with typical SPIVA studies. Note this cost number is for the 45 Balanced Funds used only - for all KiwiSaver Funds it is closer to -0.70% p.a. The presentation goes on to show that quite a bit of return is being left on the table by the one size fits all view of risk. </div> </a> <div class="read-time">3 weeks ago P Urbani</div> </div> </div> </div> </div> </div> </div> </div> </div> </section> <!-- Footer --> <footer class="pt-4 bg-light"> <div class="container"> <div class="row"> <div class="col-md-6"> <div class="footer-top mb-4"> <div class="footer-logo"> <img class="img-fluid" src="https://goodreturns.co.nz/images/footer-logo.png" alt="GoodReturns"> </div> </div> <div class="footer-bottom"> <div class="footer-bottom-text">Good Returns was established in 1997 and was one of the first successful online publishers in New Zealand and continues to be a publishing leader. Good Returns is held in high-regard by its target audience, the financial services industry. A team of highly experienced business journalists update the site daily with topical, breaking and relevant news and views. 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