It's time for advisers to lead
There is plenty of good evidence that there is an underinsurance problem in New Zealand. At the macro-economic scale there is the share of GDP spent on insurance. At the micro-economic scale there is the number of people without any cover, and the amount spent per household on cover.
In amongst all that there seems to be precious little discussion of how to tackle the problem. You need to prepare yourself to talk about this issue with your industry associations and insurers.
There is already a risk that the solutions will not involve advisers: recently the Financial Services Council (formerly the ISI) announced some consumer research to look at barriers to purchase - but this doesn't involve advisers, yet.
But advisers must be part of the solution. In markets that sell lots more insurance than New Zealand, advisers form a large and valuable channel.
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