September 03, 2020

September 03, 2020 | Adviser News


Committed to you, your customer and the industry, today and always

Welcome to the first week of spring. As we look forward towards warmer weather, longer daylight, and hopefully happier, safer times, I want to send a big, heart-filled appreciation to our advice partners. Your willingness to adapt and change to your current environments is testament to your resilience and a signal of strength within our industry


We understand that times have been challenging, and we are committed to improving all aspects of the advice process from product design to technology solutions to operational efficiency. These principles underpin our operating model and our recent key appointments designed to support our integrated service program. These include;

  • Joanne Faglioni to the newly created role of Chief Claims Officer.  

The Claims portfolio includes both retail and group claims across Zurich and OnePath Life. Sheriff Hamza is appointed to the role of Head of Retail Claims, whilst Jennifer Faglioni is appointed Head of Group Claims.

  • Peter Tilocca as Chief Underwriting Officer
  • Tina Beilby to the newly created role of Head of Operations, Integration

These changes will formally bring the Zurich and OnePath underwriting and claims teams together under the functional leadership of Peter and Joanne respectively, creating one of the largest groups of specialised life underwriters and claims personnel in Australia.


We are also committed to growing sustainably, and to ensure we can continue to protect your clients now and into the future. With this in mind, we have decided to adjust our income protection rates, for new business only. Our flagship wealth protection range will continue to deliver excellent quality, choice and value, now and in the future.  

The new rates will be automatically applied when quoting new business through the Zurich Adviser Portal from September 5.  Any quotes generated from the Zurich Adviser Portal prior to September 5 and saved will be honoured for maximum of 60 days from the date of the quote.


You spoke we listened - we are pleased to have launched an important initiative - My Wellbeing Hub. My Wellbeing Hub is full of mental health and wellbeing content to help deepen your understanding, know how you can support your clients and provide coaching and tips for different situations. My Wellbeing Hub is built on four key pillars, each with carefully curated and regularly updated resources, articles and partner links:

  • Mental wellbeing – ways to manage mental health, stress and sleep including resources from SuperFriend and Benestar.
  • Nutrition and fitness – tips for healthy living from HealthLogix and Lee Holmes, Holistic Health Coach.
  • Community – health and wellness organisations that can help you be at your best. Includes the Tackle Your Feelings mental health training program for local footy clubs, Mr Perfect grassroots “pre-crisis” charity and the Raise Foundation youth mentoring.
  • Tools and support – links to financial adviser support resources from AFA Care and FPA Wellbeing, as well as national support services such as R U OK?, Lifeline and Beyond Blue.

This content will be useful for you to be able to use with your clients, your staff or even yourself. The Hub can be accessed by anyone at any time at zurich.com.au/mywellbeinghub


We have had increased requests off the back of our Virtual Conference Series to hear more from Matt Drennan on some of the macro issues facing Australia’s economy. You can read through Matt’s latest article in this edition of Adviser News.
 

Finally, we’re excited to let you know that Zurich and OnePath are supporting the AFA conference in 2020 (October 14 and 15). Delivered virtually this year, you can expect the same high quality conference program including inspiring speakers, informative industry panels and valuable learning takeaways that  you’ve come to expect from an AFA conference - only delivering them to you in the comfort of your own home or office. Unfortunately, I won’t be able to see you in person this year, although we are looking forward to sharing with you some exciting initiatives that we have been working on.
 

Thank you again, and stay safe.

September 03, 2020

It may be feeling more like summer, but winter is coming.

A lot of the working population are holding up pretty well financially so far during the pandemic. The chart below from Macquarie Research shows the sharp spikes in household cashflow driven by Government benefits and early superannuation withdrawals. Two elements of this – the second round of one-off $750 Government support payments and early super withdrawals - are unlikely to be repeated going forward. It is highly unlikely the early release of Super scheme will be extended, especially given calls from some union quarters that the Government should top up super for low income earners to cover their withdrawals. (Strange, I thought it was the individual who made the call to withdraw early, it wasn’t compulsory like contributions to super are). Of course, for some people this was a necessary evil to bridge the cashflow gap as (effective) unemployment rates soared. Regardless, this bounty has now come to an end.

September 03, 2020

Podcasts to recharge your mental health

Hosted by EQ Minds Founder and Director, Chelsea Pottenger, this podcast series has been created for busy people who want to quickly get up to speed on health and wellbeing topics and tools. Chelsea brings listeners insightful interviews with leading health and wellbeing professionals from around the world and provides you with information and tools to help reset, recharge and navigate the challenges of everyday life.

September 03, 2020

CPD points: Cognitive Bias and Ethical Decision Making

Join Dr. Matthew Beard, Fellow at the Ethics Centre as he explores how to identify and address ethical issues in personal and professional life. This webinar will introduce you to a decision—making process to help navigate these difficult ethical decisions. You will gain insight into how you can recognise the psychological and cultural factors that can obstruct ethical decision making, and learn how to neutralise them.

September 03, 2020

Stress – footballer’s friend, foe or depends?

Sport offers many benefits - it’s healthy, it’s social, and most of all, it’s fun! However, it can also become a significant source of stress as the stakes increase and it becomes more competitive. In part one of a two-part series, we tackle the issue of managing stress in sports.

September 02, 2020

Fangin' IT

It’s hard to believe the incredible gains that share markets around the world have made in recent months. Depressionary levels of unemployment and economic contraction have seen corporate profits plummet yet the returns from equity markets look remarkably resilient. Massive amounts of government support, negligible interest rates and promising vaccine developments have clearly helped sentiment, however beneath the surface it has been a select group of stocks that have lifted markets off their March lows.

September 14, 2020

Economic Update: COVID-19

Weekly Macro & Markets View