IBANZ has 150 Member firms employing in excess of 2,500 staff. Members write $2.5 billion of premiums annually out of a gross market premium of approximately $3.5 billion. IBANZ provides a wide and varied range of benefits to its members.
Specifically IBANZ provides:
- Single voice for the sector lobbying government
- Strong relationship with regulators
- Ownership of an NZQA accredited college (Professional IQ College)
- Continuing professional development programme for staff
- Code of Professional Conduct
- Comprehensive Broker Manual
- Opportunity to influence professionalism by joining IBANZ Board
- Access to discounted member rates at PIQ College
- Professional development programme to maintain skills
- Personalised CPD record keeping through online dashboard
- Access to technical / legal assistance through iNavigator
- Membership card offering buying discounts
- Scholarships available for education
- Opportunity for local member meetings
- Good relationship with media to protect sectors image
- Support to resolve disputes
- Newsletters highlighting relevant matters for members
- Covernote magazine for insurance professionals / organisations
- Substantial knowledge base resource – iNavigator
- Promotion of professionalism of insurance brokers
What IBANZ does for its Members
IBANZ gives strength and support to Members enabling them to better meet their challenges and opportunities.
It does this by staying involved with Government activity where the outcome of changes to legislation will have an impact on the insurance industry, and more specifically to fire and general brokers. The organization takes part in regular meetings with the regulators including the Financial Markets Authority (FMA) and is involved with the government Code Committee. IBANZ is also working with the industry ITO (Skills Organization) on a review of the level 4 / 5 National Certificate qualification and in particular the new insurance stream.
IBANZ has been instrumental in setting up Professional IQ College (formerly IBANZ College) IBANZ remains committed to the continuing and ever increasing role that the College will take in managing CPD (continuing professional development) requirements as well as other educational needs for all financial services industry participants including insurance brokers.
IBANZ remains engaged with key insurers providing a voice for brokers and acting as a sounding board for those insurers where input is required. The relationship between insurers and brokers is obviously key to the success of both of these industry stakeholders.
The IBANZ Code of Conduct provides the public with assurance that Members act in a professional and ethical manner. IBANZ is committed to providing resources to assist its members in meeting the obligations of the Code. This commitment extends to include the development of better industry standards and the facilitation of a complaints procedures available to both the public and members to address complaints against members.
The scope and nature of interaction with government bodies is constantly evolving as new issues arise, a summary of our current activities follows.
Ibanz are currently involved with the review of the Financial Advisers Act, as well as a review of the Fire Service Act.
Members can log in to see a summary of current papers here.
Past Government Reports
Submissions to Government